Manager, Revenue Accounting

Company introduction:

Compass Pathways plc (Nasdaq: CMPS) is a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care. 

The Company is headquartered in London, UK, with a U.S. office in New Jersey. We believe mental health patients deserve the possibility of a better future. Our initial focus is developing COMP360 psilocybin, a proprietary, investigational, synthetic psilocybin treatment under evaluation for treatment-resistant depression (TRD) and post-traumatic stress disorder (PTSD). COMP360 is a potentially first-in-class treatment and has Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA), as well as Innovative Licensing and Access Pathway (ILAP) designation in the UK for TRD. 

We are leading the world’s largest classic psychedelic clinical program in TRD, and building upon that robust foundation, we are executing a late-stage trial evaluating COMP360 for PTSD, another condition with high unmet need. Our goal is to advance treatments that move the field of psychiatry towards treatment options that offer rapid onset and sustained durability with infrequent dosing. - Compass Pathways

Job overview:

The Manager, Revenue Accounting will play a key role in preparing Compass Pathways for the transition from a clinical-stage biotechnology company to a commercial organization. This role will establish and ultimately manage scalable revenue accounting processes, policies, systems and controls in support of potential commercialization. The successful candidate will lead the accounting framework for the order-to-cash cycle, including revenue recognition, gross-to-net accounting, customer and distribution arrangements, accounts receivable and related financial reporting. The role will partner closely with Commercial Operations, Market Access, Supply Chain, Legal, FP&A, Tax, Finance Operations and external advisors to ensure evolving commercial arrangements are appropriately reflected in the Company’s accounting and control environment.

Location: Hybrid in our Jersey City office or remote on the East Coast in the United States.

Reports to: Accounting Senior Management.

Roles and responsibilities 
(Include but are not limited to): 

• Lead the development and implementation of scalable revenue accounting processes, policies and controls in preparation for potential U.S. commercialization
• Own accounting assessments of commercial arrangements under ASC 606, Revenue from Contracts with Customers, including customer contract reviews and documentation of significant accounting judgements
• Develop and maintain the Company’s gross-to-net accounting framework, including methodologies for estimating and recording applicable commercial and governmental rebates, discounts, chargebacks, distribution fees, returns and other deductions from gross revenue, and coordinate the sourcing, validation and processing of data used in gross-to-net estimates and accruals
• Partner with Commercial Operations, Market Access, Legal and Supply Chain to evaluate proposed pricing, contracting, distribution, specialty pharmacy and other commercial arrangements and identify accounting, data and control implications
• Establish accounting processes for product sales through relevant distribution and pharmacy channels, including revenue recognition, inventory movement, reconciliation of channel data, customer payment terms and accounts receivable, in partnership with our 3PL and/or other operational process owners
• Lead the revenue accounting workstream, identifying accounting, systems, data and control requirements associated with first potential product launch and help drive cross-functional launch-readiness activities
• Own or oversee monthly and quarterly revenue accounting activities, including journal entries, account reconciliations, gross-to-net accruals and related account analyses
• Develop and maintain revenue-related accounting policies, technical accounting memos and audit-ready documentation supporting significant estimates, judgements and changes in assumptions, including the methodologies, data and controls supporting gross-to-net reserves
• Establish processes to ensure timely Finance review of new or modified commercial agreements, including identification of revenue recognition, gross-to-net, systems and internal control implications prior to execution
• Establish and maintain SOX-compliant controls over revenue, gross-to-net estimates, accounts receivable and related commercial processes, including preparation and retention of complete, audit-ready control evidence
• Develop processes to compare actual gross-to-net activity with recorded estimates, analyze variances and refine assumptions as commercial experience develops
• Support financial statement disclosures and management reporting related to revenue and associated balance sheet accounts
• Partner with external auditors and advisors on revenue accounting matters and provide supporting documentation for quarterly reviews, annual audits, and control testing
• Partner with Finance Operations, IT and Commercial Operations teams to define the systems, master data, interfaces and reporting required to support the order-to-cash process
• Establish processes to capture and reconcile data received from distributors, specialty pharmacies, third-party logistics providers and other commercial partners
• Work with FP&A to support revenue and gross-to-net forecasting, assess accounting assumptions and explain actual-to-forecast variances
• Collaborate with Supply Chain on the interaction between revenue recognition, inventory and cost of goods sold, including relevant transfer of control considerations
• Identify opportunities to automate revenue accounting processes, improve data integrity and strengthen controls as commercial transaction volumes increase

Candidate Profile:

• Bachelor’s degree in Accounting, Finance or a related field; CPA or equivalent professional accounting qualification strongly preferred
• Approximately 7 or more years of relevant accounting experience, with flexibility depending on the level of the successful candidate
• Strong technical knowledge of U.S. GAAP, particularly ASC 606, with demonstrated experience applying revenue recognition guidance to commercial arrangements and variable consideration
• Hand on experience with U.S. pharmaceutical or biopharmaceutical product revenue accounting, including gross-to-net accounting and related reconciliations and controls
• Experience supporting quarterly and annual financial reporting, external audits with hands-on experience owning and operating SOX controls and preparing supporting documentation in a public company environment
• Strong analytical skills and the ability to develop and document significant accounting estimates and translate complex commercial arrangements into clear accounting conclusions and operational processes
• Demonstrated ability to work independently, build new processes, partner effectively with Finance and non-Finance stakeholders and communicate technical accounting matters clearly
• Experience preparing a biotechnology or pharmaceutical company for its first commercial product launch is strongly preferred
• Knowledge of pharmaceutical gross-to-net arrangements, including payer rebates, government programs, chargebacks, returns, discounts and distribution-related fees, and experience accounting for and reconciling government and commercial rebate activity is highly preferred
• Experience with specialty pharmacy, specialty distribution and/or third-party logistics models is preferred
• Experience implementing or enhancing ERP, revenue, gross-to-net or other commercial accounting systems is preferred
• Public accounting and SEC reporting experience are preferred
• Demonstrates Compass values

Compensation Description (annually):

Please note that the base salary range is a guideline, and individual total compensation will vary based on factors such as qualifications, skill level, competencies, and work location.

Benefits:

For an overview of our benefits package and compensation information, please visit  "Joins us - Our Benefits".

These include flexibility & generous time off, parental & reproductive support, health & medical, mental health & wellbeing and Financial health.

Equal opportunities: 

Reasonable accommodation

We are committed to building a workplace where everyone’s wellbeing matters. If you need reasonable accommodation during the interview process to be at your best, please let our recruiting team know. 

UK applicants

We are proud of our commitment to diversity and equality (pursuant to the Equality Act 2010). We do not discriminate based upon race, religion or belief, colour, nationality, ethnic or national origin, gender, pregnancy or maternity, marital or civil partner status, sexual orientation, gender reassignment, age or disability.

US applicants

Compass Pathways is proud to be an equal opportunity employer. All employment decisions are based on business needs, job requirements, and individual qualifications, without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, and related medical conditions), ethnicity, age, disability, sexual orientation, gender identity, gender expression, military service, genetic information, familial or marital status, or any other status, category, or characteristic protected by applicable law.

Sponsorship:

Unfortunately, we cannot sponsor employment visas and can only accept applications if you have employment rights in the country to which you are applying.

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