Senior Manager, Accounting & Controls at Formic

Chicago, Illinois, United States -

Full Time

Start Date

Immediate

Expiry Date

06 Oct, 26

Salary

175000.0

Posted On

08 Jul, 26

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

US GAAP, Revenue Recognition, Lease Accounting, Equity-based Compensation, Financial Reporting, Internal Controls, Audit Management, NetSuite, Financial Statement Preparation, Project Management, Analytical Skills, Process Automation

Industry

Automation Machinery Manufacturing

Description

Who we are: Formic is on a mission to reshape American manufacturing by making automation accessible to every factory. As labor constraints rise, costs increase, and global competition intensifies, automation is no longer optional for manufacturers that want to stay competitive. We deliver automation through a Robotics-as-a-Service model that combines industrial robotics, proprietary software, and full-service support into a single, integrated solution. By removing the traditional barriers of cost, complexity, and risk, we enable manufacturers to deploy automation quickly and realize measurable gains in throughput, safety, and operational efficiency without large upfront capital investment. Backed by leading investors including Lux Capital, Initialized Capital, Blackhorn Ventures, and Mitsubishi HC Capital North America, Formic is scaling rapidly and building the foundation for a new era of high-performance, Made in America production. About the team: Formic’s Finance team enables disciplined growth across our Robotics-as-a-Service platform. The team oversees capital strategy, treasury, credit, financial operations, compliance, accounting, and investor engagement. As Formic scales nationally, Finance ensures capital is deployed intelligently, portfolio performance remains strong, and the company maintains long-term financial resilience. Finance operates at the center of strategy and execution. It connects operational performance to capital markets, aligns deployment velocity with balance sheet strength, and supports executive decision-making with rigorous financial insight. About the role: As Senior Manager, Accounting & Controls, you will play a key role in strengthening Formic's Accounting foundation during a period of growth. You will focus on projects critical to the success of the business, identify and implement process improvements, and partner across the Finance organization to help elevate accounting operations. As a technical accounting resource and trusted member of the Finance team, you'll help maintain a strong internal control environment while serving as the primary liaison for cross-functional accounting initiatives. Reporting to the Associate Director of Accounting Systems & Financial Operations, you will operate as a senior contributor, partnering closely with Finance leadership to maintain financial discipline while continuously improving how Accounting operates as the business scales. In this role you will: Financial Reporting & Technical Accounting Support Formic through its first financial audit, including preparation of audit schedules, account support, reconciliations, and documentation Own components of the month-end, quarter-end, and year-end close processes, ensuring timely and accurate financial reporting in accordance with US GAAP Prepare complex technical accounting transactions, including revenue recognition (ASC 606), lease accounting (ASC 842), and equity-based compensation (ASC 718) Be responsible for the preparation of financial statements, including reviewing supporting schedules and reconciliations for internal stakeholders Controls and Compliance Design, implement, and maintain a robust internal control environment, work to anticipate risk areas and build preventive controls Identify gaps in audit readiness and make practical improvements to documentation, workflows, and recurring support files Lead the documentation process to develop improved processes and document appropriately Establish clear workflows and documentation standards for day-to-day accounting operations. Collaborate closely with the Staff Accountant and broader finance team to ensure alignment and efficiency. Systems & Process Improvement Continually drive forward efforts to shorten the close timeline Partner with the Associate Director on ERP improvements, system initiatives and accounting automations, providing hands-on input from an accounting operations perspective. Identify opportunities to automate manual processes (leverage AI) and enhance data accuracy through technology. Develop and maintain both the documentation and accounting procedures that keep pace and are scalable as the business model evolves What Makes You a Great Fit: Required CPA required (active license in good standing) 7–10+ years of progressive accounting experience, including significant tenure at a Top 10 public accounting firm Senior Manager (or equivalent) level in Audit / Assurance, with demonstrated experience leading audit engagements and managing teams Deep technical knowledge of US GAAP, with particular strength in revenue recognition and lease accounting Exceptional analytical, organizational, and project management skills with a strong attention to detail Small-company, one-team mindset - you enjoy rolling up your sleeves and doing whatever it takes to help the team succeed Preferred Prior industry experience in technology, SaaS, or manufacturing Experience with NetSuite Experience in a start-up / high-growth or technology-driven company Experience with multi-entity accounting structures Our Total Rewards: At Formic, we believe people do their best work when they feel supported both professionally and personally. That’s why we offer a comprehensive benefits and perks package for full-time, U.S.-based team members, including: Equity in Formic: Participate in our stock option program and share in the success of a fast-growing start-up backed by leading global investors Competitive & Uncapped Commission Structure: Designed to reward performance and impact in commission-eligible roles Comprehensive Healthcare Coverage: Medical, dental, and vision insurance through Blue Cross Blue Shield and Unum, with 99% of employee premiums covered and 75% coverage for dependents, with optional buy-up plans available Additional Insurance Benefits: FSA and DCFSA, life insurance, short-term disability, and long-term disability through Unum, all 100% employer-paid Employee Assistance Program (EAP): Fully funded by Formic, offering support when you need it most Paid Parental Leave Program: Up to 12 weeks of paid parental leave Company-sponsored 401(k): Invest in your future with our company-facilitated retirement savings plan Home Office Stipend: A one-time allowance for fully remote and hybrid employees to support an at-home or on-the-road work setup Monthly Cell Phone Reimbursement: Monthly stipend toward personal phone and internet expenses Flexible Time Off: Take the time you need, when you need it, supported by our flexible PTO policy Compensation Philosophy Formic’s pay and equity packages are thoughtfully benchmarked against peer companies at a similar growth stage. Equity represents a meaningful part of our mutual investment: when Formic succeeds, so do you. Final offers are customized based on experience, geographic location, market considerations, and a candidate’s preferred balance of cash and equity. Our goal is to attract and reward top talent who will have significant impact, and we are open to thoughtful discussions to align on the right structure. Compensation Range: $120,000—$175,000 USD What we look for: We’re building this company from the ground up, and every person we hire has an outsized impact on our culture, performance, and trajectory. While each team member brings unique strengths and perspectives, we look for people who align with our Operating Principles and embody them in action. If this sounds like you, Formic may be the right place for you! Fearless Optimism: You make bold bets and default optimistic. You believe in the mission, aren’t paralyzed by risk, and fear inaction more than failure. You see ambiguity as opportunity and bring energy to building what doesn’t yet exist. Create the Magic: You absorb complexity so customers don’t have to. Whether your customer is external or internal, you focus on delivering experiences that are clear, fast, value-added, and outcome-driven. You don’t say “not my job.” You make things work. Today, Not Tomorrow: You have a bias to action. You close the loop. You take extreme ownership. You understand that speed compounds, and you don’t confuse activity with results. Seek Truth: You think from first principles. You value data over ego and strong opinions loosely held. You’re willing to challenge assumptions, including your own, in pursuit of the best answer. Made of Rubber: You are resolute and adaptable. When things break or priorities shift, you rebound stronger. You treat setbacks as learning moments and move forward with grit. One Formic: You operate without silos. You practice radical helpfulness, document clearly, and make clean handoffs. You assume positive intent and prioritize team success over individual credit. Equal Opportunity Employment: Formic is an equal opportunity employer. We do not discriminate on the basis of race, color, religion or religious creed, sexual orientation, gender, gender identity, marital status, family or parental status, disability, military or veteran status, or any other basis protected by law. All employment decisions are based on a person’s merit, business needs, and role requirements. If you require further accommodations or have questions regarding accessibility of our roles, please reach out to careers@formic.co. AI Use: At Formic, fairness and transparency are at the heart of our hiring process. We use AI-powered tools in some interviews to help our teams evaluate candidate responses, but all final hiring decisions are made by humans. You can learn more about how AI is used in our recruitment process by reviewing our AI Hiring Disclosure linked here.

Responsibilities

Lead the strengthening of the accounting foundation by managing financial reporting, technical accounting, and the first financial audit. Design and maintain a robust internal control environment while driving ERP improvements and process automations.