Job description
Ginkgo Finance is entering its next phase as a public company on this very exciting journey of rapid growth and industry-disrupting technologies. Now that Ginkgo has completed its public offering (Q4 2021), adopted two impactful accounting standards (CECL and Leasing, 2022) and finished its first year as a large-accelerated filer subject to reporting of our internal controls over financial reporting (2022), the Accounting, Reporting & Controllership (ARC) organization is campaigning to in-source senior level expertise across various disciplines which had been previously outsourced.
If you have demonstrated strength in the world of technical accounting and controllership, we would love to connect with you. Our current team includes the best of the best - starting with strong seniors and analysts led by the most innovative of executive-level directors and vice presidents. Collectively we’ve designed our various individual accounting organizations (revenue, fixed asset & lease, employee compensation and benefits, etc.) and related policies, procedures and objectives. Now is the time to build out our new layer of talented senior-level leadership to put their fingerprint on these organizations and make them their own.
We are a very inclusive team, passionate about our careers and dedicated to being part of something significant. If this sounds like the right opportunity for you, please apply! Curious? Let’s have a conversation.
As evident in Ginkgo’s publicly filed financial statements, many of our business processes require an element of fair value assessment expertise, including:
- Business combinations which may result with various types of intangible assets and earn-out scenarios
- Revenue contracts in which we receive non-cash consideration
- Valuation of investment instruments in varying forms
- Elements of stock compensation calculations, and
- Leases and capital assets.
To ensure the proper accounting and reporting of such, we are seeking an experienced professional to partner with our Corporate Controller and Director of External Reporting in owning the measurement/ valuation part of the process.
In this role, you will report directly to the Chief Accounting Officer and frequently partner with the Chief Financial Officer and other Ginkgo senior leadership. To date, these activities have been outsourced to subject-matter experts spanning several high-quality global firms; upon joining Ginkgo, this support function will be yours to manage and supervise as your own team of experts until the point where it makes sense to insource to a team of your own design.
Responsibilities
- Ownership of all policies and procedures associated with fair value measurement, accounting and reporting (ASC 820/ IFRS 1) with corresponding controllership activities. As Ginkgo is a publicly traded company subject to SOX 404, all such policy/ procedural steps have been designed and are operating. Your role is not to create or design new, but to continue and refine existing. In particular, you will support the Chief Accounting Officer in ensuring all fair value guidelines are published and easily understood by others in the Ginkgo organization sufficient for them to do their jobs. For this reason, not only is your ASC 820 expertise critical, but your ability to translate accounting-heavy concepts to non-finance customer-facing personnel, as well.
- Through constant alignment with our Business Development teams, General Counsel, Finance and other senior leadership, you will maintain constant tracking of all matters which may impact fair value of Ginkgo’s assets and liabilities resulting from various types of transactions. These include, but are not limited to mergers and acquisitions of assets or entities, other forms of collaboration events, and contracts with customers, suppliers or other related parties.
- For all identified matters impacting Ginkgo’s fair value, you will oversee the team that analyzes and documents our positions taken and rationale for each. You will also ensure that the associated internal control evidence is produced accurately, timely, and is audit-ready when and as needed. To the extent any internal controls or processes require change or improvement, your team will be included in both the identification and remediation activities.
- Support senior leadership in the early stages of potential deals with third parties by providing your fair value measurement subject matter expertise to review or provide valuation or other analytical modeling tools for negotiation purposes.
- Review financial information on a quarterly basis provided by investees and identify impairment indicators and changes in observable price. Work with external valuation specialists to update fair values as necessary.
- Own quarterly valuation activities with completion of underlying calculations, roll forwards and account reconciliations.
- Review and approve Ginkgo’s financial statements and related disclosures for compliance with ASC 820/ IFRS 15 as appropriate.
- Monitor Ginkgo’s portfolio of equity instruments on a regular basis for purposes of identifying changes in risks or benefits based on counterparty or market activities and to identify opportunities for realizing the value of the instruments at the right time to maximize Ginkgo’s returns on the investments.
- Oversee Ginkgo’s accounting and financial due diligence activities relating to potential M&A transactions. This includes the engagement, scoping and management of third party due diligence firms, coordinating with the broader due diligence team, identifying finance and accounting-related due diligence issues and red flags, assisting the Corporate Development team with accounting-related sections of the definitive documentation, and assisting the integration function with accounting-related integration planning.
Minimum Requirements
- Bachelor's degree in accounting or finance with Certified Valuation Analyst (CVA) or similar valuation related designations and/or professional experience.
- 10-15+ years of technical accounting and valuation experience.
- 5 + years of experience directly with ASC 820/ IFRS 15. Relevant activities include documenting accounting conclusions on new or modified customer contracts (via accounting position papers), completion of revenue analysis and commentary formulation such as that provided to executive leadership for decision-making purposes, and/or financial statement disclosure preparation and reviews.
- Detailed operational knowledge of Microsoft Office (Word, Excel) and/or Google’s suite of offerings including Google Docs, Google Sheets).
Preferred Capabilities and Experience
- Certified Public Accounting (CPA) license or Accredited in Business Valuation (ABV).
- MSA or MBA degree.
- Experienced in public company accounting and reporting i.e. via an audit/ assurance role within a large public accounting firm such as the Big 4 with a focus in fair value accounting.
- Ability to be an active stakeholder in new system or application implementations which includes working across functions to communicate downstream requirements while anticipating and preventing unintended issues.
- Prior experience reviewing and/or supervising a global team which operates differently for US GAAP vs. local statutory purposes.
Total compensation for this role is market driven, with a starting salary of $210k+, as well as company stock awards. Base pay is ultimately determined based on a candidate's skills, expertise, and experience. We also offer a comprehensive benefits package including medical, dental & vision coverage, health spending accounts, voluntary benefits, leave of absence policies, Employee Assistance Program, 401(k) program with employer contribution, 8 paid holidays in addition to a full-week winter shutdown and unlimited Paid Time Off policy.
To learn more about Ginkgo, visit www.ginkgobioworks.com/press/ or check out some curated press below:
What is it really like to take your company public via a SPAC? One Boston biotech shares its journey (Fortune)
Ginkgo Bioworks resizes the definition of going big in biotech, raising $2.5B in a record SPAC deal that weighs in with a whopping $15B-plus valuation (Endpoints News)
Ginkgo Bioworks CEO on scaling up Covid-19 testing: ‘If we try, we can win’ (CNBC)
Ginkgo raises $70 million to ramp up COVID-19 testing for employers, universities (Boston Globe)
Ginkgo Bioworks Redirects Its Biotech Platform to Coronavirus (Wall Street Journal)
Ginkgo Bioworks Provides Support on Process Optimization to Moderna for COVID-19 Response (PRNewswire)
The Life Factory: Synthetic Organisms From This $1.4 Billion Startup Will Revolutionize Manufacturing (Forbes)
Synthetic Bio Pioneer Ginkgo Raises $290 Million in New Funding (Bloomberg)
Ginkgo Bioworks raises $350 million fund for biotech spinouts (Reuters)
Can This Company Convince You to Love GMOs? (The Atlantic)
We also feel that it’s important to point out the obvious here – there’s a serious lack of diversity in our industry, and that needs to change. Our goal is to help drive that change. Ginkgo is deeply committed to diversity, equity, and inclusion in all of its practices, especially when it comes to growing our team. Our culture promotes inclusion and embraces how rewarding it is to work with people from all walks of life.
We’re developing a powerful biological engineering platform, so we must remain mindful of the many ways our technology can – and will – impact people around the world. We care about how our platform is used, and having a diverse team to build it gives us the best chance that it’s something we’ll be proud of as it continues to grow. Therefore, it’s critical that we incorporate the diverse voices and visions of all those who play a role in the future of biology.
It is the policy of Ginkgo Bioworks to provide equal employment opportunities to all employees and employment applicants.
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