Accounts Payable & Accruals Specialist
Frequency Therapeutics (Nasdaq: FREQ) is a leader in the development of medicines designed to activate progenitor cells within the body to treat degenerative diseases. The company’s lead product candidate, FX-322, is a potential disease modifying therapy designed to regenerate damaged auditory hair cells to improve hearing function. In initial clinical studies of FX-322, the company observed meaningful improvements in key measures of hearing function in patients with sensorineural hearing loss, the most common form of hearing loss which impacts more than 90 percent of all people with hearing loss. The company recently completed enrollment of a Phase 2a study, with results to be shared in Q2 2021. Frequency’s progenitor cell activation (PCA) approach stimulates progenitor cells to create functional tissue and the Company is researching an array of additional degenerative diseases where PCA may be applied, including a pre-clinical program for remyelination in multiple sclerosis.
The Accounts Payable (AP) & Accruals Specialist will be a key member of the Accounting team. The AP & Accruals Specialist’s primary role will be to (1) support the AP function by ensuring accurate and timely processing of AP responsibilities and (2) ensuring the timely and accurate recording of monthly accruals based on vendor specific contractual terms.
The AP/Accruals Specialist must be self-motivated with an outstanding work ethic. The ideal candidate will have excellent communication and organizational skills, be able to work with cross-functional teams, and be a results-oriented professional.
The AP/Accruals Specialist will report directly to the Senior Accountant, Budget and Forecasting.
- Monitor the Accounts Payable inbox to ensure all invoices, credit memos, and other vendor communication are appropriately addressed.
- Timely and accurate invoice processing including printing, obtaining departmental approval, entering invoice data to NetSuite, with proper GL coding, and obtaining Finance approval.
- Review purchase order requests for appropriate documentation, accurate coding, proper approvals and compliance with corporate policies.
- Review contracts, purchase orders, and work orders to determine the appropriate timing and amount of monthly accruals.
- Preparation of vendor payments by check, ACH, wire or NetSuite file extract for upload into banking platform.
- Manage vendor accounts and setup of new vendors including receipt of W-9 form from vendors.
- Serve as the first level contact for employees regarding AP policies and procedures (i.e., purchase order creation and coding, etc.) and escalate issues as appropriate.
- Manage and respond timely to vendor and employee inquiries.
- Responsible for the monthly accounts payable and accrual close processes.
- Responsible for select balance sheet reconciliations on a monthly basis and support for external quarterly filings on Form 10-Q.
- Assist with gathering documents to support auditors’ requests, when needed.
- Support the accounting team on special projects and other responsibilities as needed.
- Adhere to and maintain internal control processes surrounding vendor management and invoice processing.
EDUCATION, SKILLS & EXPERIENCE:
- Bachelors degree in Accounting or Finance or equivalent work experience
- Minimum 2-5 years Accounts Payable or other Accounting experience required
- Experience with NetSuite and Concur preferred
- Excellent organizational skills
- Strong problem-solving skills, basic accounting principles knowledge, documentation skills, research and resolution skills, data analysis and multi-tasking skills
- Proficient in Excel
- Ability to work independently and with a team with emphasis on accuracy and timeliness
- Strong communication skills, with the ability to self- manage and meet deadlines
Working at Frequency
At Frequency Therapeutics, we believe that we have the best chance to achieve our mission by creating an environment where our collective problem-solving and leadership skills are put to work, so collaboratively, we can solve some of the most complex challenges in medicine. We are focused on developing new treatments to potentially help millions of patients with novel therapeutics. This requires both a willingness to be audacious in our pursuits and relentless in our focus and commitment to research and patients. We look for individuals who are both highly skilled and self-aware, who are willing to challenge leadership and their colleagues, are entrepreneurial by nature and who are undeterred by uncertainty.
Please visit www.frequencytx.comfor more information.
We offer a competitive compensation and benefit package. For consideration, please submit CV and cover letter.