Director of Finance

Company Overview:

Payability empowers eCommerce sellers with flexible funding and tailored cash flow solutions. Since our founding in 2015, we have helped thousands of eCommerce sellers scale their businesses by providing over $6 billion in funding to date. Payability is fully remote and we are looking for talented people to join our dynamic team. We are on a mission to provide capital and payment solutions for eCommerce sellers, suppliers and merchants; powered by automation, delivered friction-free.

Payability is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

Position Overview:

Payability is seeking a Director of Finance, reporting directly to the CEO. The Payability Finance team is responsible for several critical disciplines within the organization, including daily payment operations, financial analysis and reporting, underwriting, risk management, collections, credit facility compliance and accounting. The Director of Finance will hold primary responsibility for cash management, financial and risk analysis, forecasting and budgeting, and reporting automation. This individual will also have oversight responsibility for the accounting, collections and underwriting and risk functions including personnel management.

The ideal candidate is passionate about the fintech and financial services industry, adept at handling large datasets, effectively manages and motivates their team, and thrives in a fast-paced environment. This position offers high visibility to the executive team and requires strong communication skills and effective problem-solving abilities, with a particular focus on financial analysis.

Responsibilities:

• Cash management:oversee daily cash operations and manage liquidity; monitor cash flow and forecast future cash needs; oversee treasury relationships and optimize cash positions.
• Financial planning and analysis:develop and maintain financial models, forecasts and budgets; perform variance analysis and evaluate risk to provide actionable insights; support strategic planning and decision-making processes; proactively identify, communicate, and solve for business and financial risks.
• Credit Facility:manage relationship with bank lender; ensure continued compliance with credit facility including daily borrowing base and periodic financial reporting, covenant certificates and audit requirements.
• Reporting and automation:prepare and present financial reports to the executive team, lenders and potential investors; implement and improve financial reporting processes; drive automation initiatives to enhance efficiency and accuracy.
• Finance team management:oversight responsibility for the accounting, collections, underwriting and risk functions; manage personnel; foster a collaborative and high-performing team environment; implement and maintain appropriate internal controls.
• Accounting: month-end close, accounts payable and expense management, annual financial statements audit, tax compliance, payroll compliance (through PEO).
• Collections: timely and compliant UCC-1 filings, monitoring customer credit limits, collecting past due funds, freezing or suspending customer accounts where necessary, partnering with outside collections agencies.
• Underwriting and Risk: initial underwriting for new customers; ongoing risk profile and concentration risk monitoring for existing customers; compliance with financial regulations and operational audits.

Requirements

• Bachelor's degree in finance, accounting, economics or a related field; MBA or other financial certification preferred (e.g. CPA, CFA, etc.)
• At least 5 years relevant experience, including management responsibilities; fintech and/or startup experience preferred
• Proficient with financial modeling, data analysis and financial reporting
• Skilled with spreadsheets, dashboards and queries to extract, manipulate and transform data
• Excellent analytical and problem solving skills
• Must be detail-oriented and produce accurate and timely work
• Adaptable and able to thrive in a rapidly changing environment
• Operates with a sense of urgency while managing multiple priorities
• Effectively communicates and collaborates across the organization
• Successfully leads, manages and motivates team to achieve results
• Highly motivated, intellectually curious, and a team player
• Ability to work remotely and on east coast hours