Financial Controller, Teamshares
Retail Industry
$130-150k
Some travel required
Creating employee-owned small businesses
Posted today
Creating employee-owned small businesses
101-200 employees
Posted today
$130-150k
Some travel required
101-200 employees
Company mission
Teamshares is on a mission to put $10 billion of wealth in the hands of hardworking Americans.
Role
Who you are
- A strong ability to pivot between tasks is essential, ensuring responsiveness to client needs and internal deadlines
- Skills in reconciling accounts, journal entries, month-end closings, and reporting are essential for generating accurate financial statements
- Bachelor’s degree in business, accounting, or related field (CPA preferred)
- 5+ years of professional accounting experience, Retail Industry experience required
- Experience in small to medium sized business accounting
- Experience working for a mid-market accounting firm helpful
- Experience working in a start-up environment strongly preferred
- Experience with inventory required
- Experience in operational finance and inventory issues with exposure to both financial and tax (reporting) accounting
- Proficiency in QuickBooks Online and POS systems
- Working knowledge of US GAAP
- Advanced project-management and problem-solving skills
- Adaptable, proactive attitude with willingness to “roll up your sleeves”
- Tech savvy individual that can problem solve in a remote environment required
- This position is remote, some travel required
- QuickBooks Online
- NetSuite ERP
- Asana (task and project management)
- Microsoft Office Suite (Excel, Word, PowerPoint, Teams)
- OneStream (consolidations and reporting)
- Bill.com (accounts payable and payments)
- Gusto (payroll)
What the job involves
- As Controller at MFP, you'll provide high-quality financial management for a subset of Teamshares network companies within the Retail Industry
- You'll partner with company presidents and employee-owners to ensure robust financial oversight and identify profit improvement opportunities
- This hands-on role requires active involvement in the financial operations of small to medium-sized businesses
- Understand and adapt to each client’s unique accounting needs, using your retail industry knowledge to provide personalized insights and solutions
- This includes offering specialized advice on tax planning, cost control, inventory optimization, and financial planning relevant to each sector
- Day-to-Day Adaptability and Multi-Tasking: This role requires managing a variety of tasks daily, from client consultations and financial analysis to cash flow monitoring and troubleshooting system issues
- Complete Understanding of the Accounting Cycle: Mastery over the full accounting process—from data entry to financial analysis—ensures accuracy and compliance across every stage
- System and Process Optimization: Identifying inefficiencies in accounting processes and recommending improvements is crucial
- This might involve automating data entry, standardizing reporting practices, and cleaning up chart-of-accounts to provide a more accurate financial picture and improve operational efficiency
- Communication with Leadership: Act as a key advisor to Presidents and other executives, translating complex financial data into actionable insights
- Regularly meet with leadership to discuss financial health, budget adherence, and long-term strategic planning
- Cash Flow Management and Advising: Conduct ongoing cash flow analysis to ensure liquidity and provide strategic advice on managing cash reserves, optimizing receivables and payables, and making informed investment decisions
- Lead accounting operations, including AP/AR, GL, inventory accounting, and revenue recognition
- Adherence to a Controls Environment: Develop or make recommendations to internal control policies/practices and document business processes as needed
- Oversee month-end and year-end close process
- Perform balance sheet reconciliations (cash, credit card, A/R, A/P, etc.)
- Record fixed assets and depreciation
- Record and amortize prepaid expenses
- Calculate and record payroll/bonus accruals
- Calculate and record revenue/expense accruals as needed
- Review income statement accounts for classification and cutoff
- Submit TB, variance analysis, and monthly close checklist to OneStream
- Develop and maintain 13-week cash flow forecast to identify potential cash flow issues and propose solutions
- Book deferred revenue entries and reversals in the accounting system
- Review and book income tax entries from Teamshares
- Review trial balance regularly and make necessary adjustments
- Provide support for quarterly sales tax returns
- Make year-end adjustments and prepare worksheets
- Assist with inventory adjustments associated with annual physical count
- Oversee lead bookkeeping/other related finance functions
- Prepare 1099s
- Work closely with the company President to prepare a financial forecast for the annual and quarterly strategic planning process
- Deliver key financial metrics, identify trends, and provide insights on business performance
Our take
Small, local businesses often live and die with the careers of their founders. Few of these business are bought when founders retire, leaving holes in communities and owners without the retirement payout they deserve. That’s where Teamshares steps in, by buying small business as their owners retire, and then returning them to employee ownership.
Teamshares has developed its own software that not only assists with the employee buyout transaction, but also covers general operations, financial advice and assistance as the employees gain ownership of the companies. It’s a model that puts long-standing workers first - an approach that has gained the company plenty of positive attention.
Teamshares has certainly found its niche by supporting participatory capitalism, in which companies can continue operations owned by those with the greatest interest and know-how to do so. So far, it has brought employee ownership to more than 80 small businesses, creating over 2000 new employee-owners. Additionally, in 2024 it announced a cumulative $225 million in debt financing, which will support further scaling efforts and accelerate product development.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
31% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Aug 2023
$124m
SERIES D
Nov 2021
$90m
SERIES C
Total funding: $220.3m
Company benefits
- Remote-first
- Location-independent salary
- Comprehensive health coverage, 100% paid for by Teamshares
- Parental leave - 3 months for partners, +3 additional months for a delivering parent
- Retreats & offsites - We come together twice a year at great locations
- Building Wednesday - No internal meetings on Wednesdays so you can focus on deep work
- Remote office stipend
Company HQ
Brooklyn Heights, NY
Leadership
Michael Brown
(Co-founder)Previously worked as an Investment Banker Analyst and Research Associate in Areospace and Defence at Morgan Stanley. They were also a Director at Perella Weinberg Partners, and are still employed as a Director at All Type Electric, and Partner at Coles Bay Group.
Alex Eu
(Co-founder)Alongside Teamshares, they are a Director at All Type Electric, a Partner at Coles Bay Group and a Part Owner of Libero Sports. They were previously Co-president of Multin Electric and a member of the Investment Team at TCG.
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