Accounting Manager, Rent the Runway
$99-123k
3+ days a week in office (Brooklyn, NY )
Women's clothing subscription service
Open for applications
Women's clothing subscription service
501-1000 employees
Open for applications
$99-123k
3+ days a week in office (Brooklyn, NY )
501-1000 employees
Company mission
Rent the Runway's mission is to power women to feel their best every day.
Role
Who you are
- Bachelor’s degree in Accounting required, CPA license preferred
- 5+ years of relevant accounting experience
- You have a strong understanding of US GAAP
- You have experience working with ERP systems - Microsoft Dynamics 365 is a plus
- You have very strong Excel skills and are comfortable with analyzing and manipulating large data sets
- You are a highly organized detail-oriented self-starter with the ability to work independently and within a team environment
- You have an investigative and curious mindset, loving problem-solving and utilizing your analytical skill set
- You have a strong work ethic and a can-do positive attitude
What the job involves
- As the Accounting Manager you will play a key role on our Accounting team during this exciting period of high growth and process transformation
- Reporting to the Director/Senior Director of Accounting, you will have an opportunity to contribute to and manage the financial close process for a fast-paced, extremely successful and high energy company
- You will be responsible for collaborating across many business areas
- Assist in the timely management of the month-end/quarter-end financial statement close and reporting process
- Areas may include, and are not limited to, inventory, revenue, cash, and accrued expenses
- Review and approve journal entries and reconciliations prepared by staff accountants on a weekly and monthly basis
- Perform a detailed review of expense accounts for proper coding and accounting and accruals
- Investigate reporting discrepancies/anomalies and communicate issues as they arise in a timely manner
- Continually develop, scale and improve month-end close and financial reporting procedures to support the reduction of the close timeline
- Communicate with various internal and external partners at various levels
- Support the year-end financial statement audit, as well as any statutory audits that may arise
- Participate in special projects relating to ERP enhancement projects and ad hoc analyses as requested
- Mentor and train staff accountants
Our take
Rent the Runway seeks to profit from two important trends in apparel consumption: wanting to stay on top of the latest fashion trends while living and purchasing sustainably. By providing a platform for women to rent designer pieces, its users can have it all.
The company allows users to rent, subscribe, or buy designer apparel and accessories. It achieves this with its network of partnerships with hundreds of top designers and managing the crucial but complicated logistics in-house. It offers its partnered brands sophisticated analytics about potential customers in return for lower prices on designer garments.
Rent the Runway is now focused on diversifying revenue streams while reducing its costs. Its recent partnership with Amazon is an example of this new direction: while it will use this chanel sell to clothes previously rented through its platform, it will for the first time be selling new clothes based off of rental items modified in line with market data.
While moves such as this may well shift Rent the Runway towards profitability, it also risks undercutting the company's central message of sustainability and supporting the circular economy. The company believes that by creating better quality clothing it will nonetheless be aiding in the fight against fast fashion. Time will tell if this move helps or hinders the sustainability movement, but it is likely to boost Rent the Runway's bottom line regardless.
Freddie
Company Specialist at Welcome to the Jungle
Insights
-6% employee growth in 12 months
Company
Funding (last 2 of 9 rounds)
Apr 2020
$80m
SERIES G
Mar 2019
$125m
SERIES F
Total funding: $401.2m
Company benefits
- Generous Paid Time Off including annual leave, paid bereavement, and family sick leave - every employee needs time to take care of themselves and their family.
- Universal Paid Parental Leave for both parents + flexible return to work program - because we know your newest family member(s) deserve your undivided attention.
- Paid Sabbatical after 5 years of continuous service
- Exclusive employee subscription and rental discounts
- 401k match
- Work from home opportunities
- Comprehensive health, dental care and dependents care from day 1 of employment - Your health comes first and we’ve got you covered.
- Competitive Stakeholder Pension - taking care of your future
- Company wide events and outings - our team spirit is no joke - we know how to have fun!
- Hybrid Work - our corporate employees have the option to work remotely 3 days a week, in accordance with Company policies
Company HQ
Hudson Square, New York, NY
Leadership
Jennifer Hyman
(CEO)Prior to Rent the Runway, was director of business development at IMG where she focused on the creation of new media businesses for IMG's fashion division.
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