Financial Controller

10X Recruiting Partners

At 10X Recruiting Partners we go beyond the job requirements to learn about your company culture and values, and we help identify the soft skills that will find the perfect fit out of all the qualified candidates. Our unique Quick Start Process allows us to present you with the strongest candidates as quickly as possible. We partner with you, as an extension of your team, to make the entire search-to-hire process as smooth as possible.

http://10xrp.com/

Job Details

Financial Controller

Raleigh, NC (Hybrid)

Company Summary

Founded in 1996, the “Company” has grown into one of the most respected independent music distributors in the world. Inspired by a relentless passion for music, the Company connects independent artists and record labels to an expanding list of physical and digital commercial partners by providing extraordinary sales, marketing, and fulfillment services. The Company is headquartered in Hillsborough, North Carolina, where it maintains its primary warehouse and offices. The Company also has a warehouse and office facility in Gothenburg, Sweden (via its Border Music subsidiary) and a sales or administrative presence in numerous other cities, including New York, Los Angeles, Chicago, San Francisco, London, Toronto, Berlin, Paris, and Sydney.

Recent Acquisition: The Company was recently acquired by Exceleration Music Partners (the “Parent”), a company founded in 2020 by prominent independent music executives to invest in the future of independent music. Exceleration offers personalized solutions to entrepreneurs seeking capital to achieve growth as well as those trying to achieve liquidity or an honorable exit. To date, Exceleration has acquired or formed strategic relationships with leading independents including +1 Records, Alligator, Azadi, Bloodshot, Candid, Heroic, Kill Rock Stars, Mom+Pop, The Ray Charles Foundation/Tangerine, SideOneDummy. Via its acquisition of the Company, Exceleration has now added the Company’s internal labels, Yep Roc and Sundazed. Exceleration will now be structured in two divisions, a “Rights Group”, which will oversee these internal label activities, and the “Company”, which will provide distribution and related services to the Rights Group and an extensive roster of third-party labels.

Position Summary

The Controller is a new position which will lead the accounting and financial administration teams for the Company. The role reports to the Company’s Co-Founders, with “dotted line” reporting to the Parent’s Head of Finance & Business Development and Head of Accounting & Financial Administration. The Controller will manage all general accounting functions and maintain accurate and current financial records for the Company. The Controller will also be responsible for providing financial reporting, forecasting and analyses to the Company and the Parent to meet internal and external reporting requirements as well as to support management’s decision-making processes. Considering that this is a new position, the Controller will need to take the initiative to design and implement the use of systems which are well-coordinated with those of the Parent, and which provide optimal efficiency. The Controller position will be based in the Company headquarters in Hillsborough, NC, but will provide for flexible remote work time, as practicable and consistent with Company policies.

Position Responsibilities

The Controller will perform a wide range of functions including, but not limited to the following:

• Set strategic direction and standards for the accounting and financial administration functions at the Company, ensuring compliance with GAAP.
• Conduct a full assessment of current accounting, finance and reporting processes and systems; adjust to improve accuracy and efficiencies.
• Recommend and execute changes to achieve industry standard accounting practices that ensure timely reporting, auditable financials, and clear consolidations that would readily align with the parent company and other eventual entities or partners.
• Manage the consolidation of accounting information for the Company’s subsidiaries.
• Work with Parent and external auditors to continuously improve documented system of accounting policies, procedures, and controls (all in accordance with GAAP).
• Lead and oversee the day-to-day operations of the Company’s accounting and financial administration teams.
• Evaluate the skill level and readiness for learning of everyone on the accounting team and set individual development goals and performance requirements.
• Engage staff to participate in and contribute to further transformation and professionalization of the accounting, finance, audit, and reporting functions.
• Seeks out ways to streamline and improve accuracy of day-to-day activities of the department in a high-volume transaction environment.
• Manage all general accounting functions including accounts payable, accounts receivable, cash receipts and disbursements, credit card and expense statement reporting, accounting software administration, and general ledger activity.
• Perform financial planning and analysis functions, as necessary and requested.
• Lead the month end closing processes per schedule to ensure timely and accurate preparation of financial statements (in accordance with GAAP).
• Ensure team performs timely and accurate journal entries, payroll processing, reconciliations, and other fundamentals.
• Lead by example to create a positive work environment by being hands-on, strategic, empathetic, solution oriented and hard working.
• Ensure compliance with Company and Parent policies and procedures.
• Interact with Parent as needed with respect to audits, banking interactions, tax matters, foreign exchange issues, vendor management and any other issues that may arise from time to time.
• Build repeatable, insightful tools and dashboards which provide management with timely insights into the performance of the Company.
• Provide financial due diligence, as needed, with respect to new distribution deals, acquisitions, or other strategic initiatives.
• Prepare and confidently and effectively present analyses to Company or Parent leadership, as well as to relevant third parties, when needed.
• Other duties as assigned by the Co-Founders of the Company, the Parent’s Head of Finance and Business Development, or the Parent’s Head of Accounting & Financial Administration.

• Experience as a controller, senior accountant, CFO, or senior financial analyst, preferably within the recorded music industry. Industry experience in the distribution of other physical or digital goods will also be seriously considered.
• Track record of assessing, auditing, and improving the accounting function in entrepreneurial companies.
• Formal business / accounting transformation or change management experience a plus.
• Credentialed accountant who actively stays current in their understanding of GAAP.
• Accessible problem solver who fosters a collaborative learning culture.
• Bachelor’s Degree in accounting or related field, or commensurate experience. Some experience at an audit firm, and/or CPA preferred.
• Experience advancing through a range of accounting functions including AR, AP, GL management, month end closes, reporting, and managing in a multi-entity environment including consolidations and intercompany transfers.
• Extensive experience with accounting systems such as NetSuite and advanced Excel skills.
• Experience in consolidations and merger integrations.
• Must be able to prioritize and have good organizational skills.
• Must have a strong work ethic and take ownership of work.
• Great attention to detail.
• Proven ability to work with all levels of staff within the organization.
• Track record of reporting to senior management with exposure to boards, investors and banks preferred.
• Strong communication, mentoring, teaching and coaching skills. Ability to effectively impart accounting and technical knowledge and skills to more junior staff.
• Must be able to work independently as well as part of a team.
• Strong interest in music and learning about the business side of the music industry.

A competitive compensation and benefits package will be offered to the successful hire. A base salary commensurate with relevant skills, experience, relationships, and education is anticipated at an annual rate in the range of $125,000 to $150,000 plus incentives.

Diversity and Equal Opportunity

The Company is an equal opportunity employer and makes employment decisions without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, disability status, age, or any other status protected by law. Further, the Company strives to create a diverse, welcoming, equitable and inclusive environment for all applicants, employees, partner companies and other partners.