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Director of Finance - Remote

Formative is looking for an experienced and driven finance leader with a growth mindset and operational prowess. If you are passionate about making a big difference for teachers and education institutions as a whole, read on! 

Who is Formative?

Craig Jones and Kevin McFarland met at grad school at UCLA - where they together envisioned a world where formative teaching practices could replace traditional end-of-year summative assessments. Craig, while teaching middle school science at a struggling public school in South Los Angeles, patched together a basic student response system and a lot of spreadsheets to help understand his students' strengths and weaknesses. The technique of daily formative assessment, targeted intervention, and faster feedback ultimately led to record-breaking academic outcomes. This seed of an idea from Craig’s classroom, combined with Kevin’s passion for scaling impact in education, nurtured with multiple research initiatives, prototypes, and the help of countless individuals, launched Formative in January 2015. Today millions of students use Formative globally and their teachers are empowered to support their learning journey with the rapid-cycle formative data.

Are you ready to join our team?

Picture yourself working directly with the founders and the rest of our amazing team to make an impact on the teaching-learning experience for educators and students all over the world. Do you want to have an impact on the future of education?

 

You will be Formative’s first dedicated finance hire and will be responsible for standing up a strong and scalable finance process. You will ensure visibility to all financial and operational KPIs to the executive team and business leaders by surfacing new insights, improving financial and planning processes, and establishing a regular cadence of reporting deliverables to monitor the health and trajectory of the business. While this role is an individual contributor to start, as we ramp up over the next two years, you will also be responsible for building out a team of experts.

You will own the finance and accounting function end-to-end and work closely with the executive team to drive our investment prioritization decision making, advise on our go-to-market strategies, support both organic and inorganic growth, and manage day-to-day investor relationships. You will also be the owner of managing employee total rewards (compensation, payroll, benefits, policies), government and regulatory needs (federal, state, local taxes, compliance), vendors and contractors, and customer invoicing and collections. 

Primary responsibilities include but are not limited to: 

  • Lead the forecasting, analysis, and scenario planning for Formative’s financial model and annual operating planning process
  • Develop, manage, and report SaaS KPIs to executives and cross-functional teams
  • Manage the treasury, financial close, budget to actuals, and forecasting activities for annual recurring revenue by partnering with our accounting firm
  • Create executive presentations and perform ad-hoc analysis for fundraising and other off-cycle special projects
  • Monitor the competitive landscape to benchmark Formative’s primary financial and non-financial KPIs
  • Establish, streamline, and improve planning and reporting processes 
  • Provide ad-hoc analysis and support, including M&A due diligence and integrations

 

Requirements: 

  • 5+ years experience in a progressive finance career, with 2+ years as a team leader or people manager
  • Proven track record establishing and growing a finance and accounting organization
  • Demonstrated data-driven decision making via expertise in defining and measuring KPIs and data literacy skills via experience with Excel, Sheets, and SQL
  • Capable of separating “signal from noise” and timely surfacing and communicating insights to executive-level audiences
  • Ability to set and focus on top priorities and drive results with minimal guidance and direction
  • Strong familiarity with GAAP and accounting principles
  • Comfort with leading in remote work environments
  • Excellent interpersonal, written, and oral communication skills 
  • BA/BS degree or equivalent. CPA and MBA a big plus 

 

Perks:

  • Remote position within the US 
  • Group Health Insurance Access
  • Paid vacation/personal time/holidays
  • Paid parental leave/adoption leave
  • Company stock ownership

 

Formative is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

 

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