Controller

Controller

Magnolia Medical is an early stage, rapid growth commercial-stage medical device company with an opportunity for a Controller to join this team making a difference every day. Magnolia Medical Technologies is developing solutions to challenges that have long plagued our healthcare system.

Our Steripath® Initial Specimen Diversion Device® for blood collection and contamination prevention has created a new standard of care for prevention of false-positive blood cultures, the gold standard diagnostic test for sepsis. Steripath delivers significant clinical and cost savings benefits which have been extensively proven with large bodies of clinical data and peer-reviewed published studies. Based on this exceptional performance profile, we have an exclusive FDA-cleared indication for reducing blood culture contamination and uniquely provide a money-back Clinical Performance Guarantee for Steripath to our hospital customers.

Position Description

The Controller is responsible for monthly close, financial reporting, overseeing the accounting department (currently 2 staff), maintaining accounting policies/procedures and other key roles in the accounting department. This role also provides analysis and insights to support fact-based decision making across the company.

The position reports to the Director of Finance and Accounting, and directly oversees two staff accountants, as well as any future hires in the accounting department. The accounting and finance departments are quickly expanding, and this role is critical to ensure alignment of policies and practices for all. This is an opportunity to shape and mature accounting processes in alignment with the company's growth.

Responsibilities:

• Oversee and manage the day-to-day accounting operations, including general ledger, accounts payable, accounts receivable, and payroll.
• Ensure the preparation of accurate, timely, and compliant monthly, quarterly, and annual financial statements in accordance with US GAAP.
• Lead the accounting close process, ensuring the company's books are closed accurately and on time each period.
• Maintain robust internal controls over accounting processes to ensure accuracy, integrity, and compliance.
• Develop and implement processes and procedures to streamline and scale accounting operations in line with company growth.
• Ensure compliance with federal, state, and local tax regulations, and manage the timely filing of all tax returns.
• Coordinate with external auditors and manage the audit process to ensure timely and smooth audits.
• Collaborate with other departments (e.g., FP&A, revenue operations, HR, operations, ...) to ensure accounting records are accurate and reflect the business activities.
• Create, maintain and update accounting policies and procedures in accordance with changing accounting standards and regulations.
• Oversee the preparation and filing of required tax documents and ensure compliance with tax laws.
• Ensure the company's accounting software and systems are properly maintained and leveraged for efficiency.
• Provide mentorship and leadership to the accounting team, driving a culture of continuous improvement and development.

Required Experience and Qualifications:

• BA in Accounting, CPA preferred.
• 8 years of increasing responsibility and a track record of success in accounting and controls in a private company environment.
• 3+ years of overseeing and management of a team.
• Strong understanding of GAAP and experienced in developing processes in accordance with GAAP.
• Experience partnering across the company to provide analysis and insights.
• Self-driven and deadline oriented. Comfortable in a fast, dynamic environment.
• Ability to adjust to the needs of different departments with different deadlines.
• Experience with D365 a plus.
• Advanced Excel skills including pivot tables, V-lookups, etc.
• Ability to sit/stand and work at a computer for extended periods.
• Ability to use a keyboard, mouse, and office equipment.
• Ability to lift up to 10-20 lbs occasionally.
• Ability to communicate clearly in person and by phone.
• Ability to maintain regular on-site attendance during business hours.
• Performs other duties as assigned.

About Magnolia Medical Technologies, Inc.

Magnolia Medical Technologies develops, manufactures and markets innovative blood and bodily fluid collection devices to facilitate significant improvements in the accuracy, consistency and predictability of critical laboratory tests.

Dr. Richard Patton, the company's co-founder and Medical Director, invented and patented the Initial Specimen Diversion Technique (ISDT™) and Initial Specimen Diversion Device (ISDD®) for blood culture collection and contamination prevention, and authored the seminal peer-reviewed publication on this technique published in the Journal of Clinical Microbiology in 2010.

The company's flagship product, Steripath® Initial Specimen Diversion Device® for blood culture collection and contamination prevention, has been clinically proven in 17 clinical studies including 5 peer-reviewed publications to virtually eliminate the preventable error of blood culture contamination and false positive results for the diagnosis of Sepsis - delivering a reduction in false positives of up to 92% with 12-month sustained contamination rates as low as 0.2% and an average annualized cost savings of $945,000.

Magnolia is establishing the new standard for blood culture integrity and sepsis testing accuracy with a mission to change national blood culture collection guidelines and contamination benchmarks.

The company has amassed an
intellectual property portfolio including more than 70 issued method, apparatus and design patents with more
than 50 additional patent applications pending. The total potential market for Magnolia's technology exceeds $2.0 billion annually.

Magnolia Medical is committed to the continued development and successful marketing of innovative products that will transform the way healthcare is practiced around the world. The company supports this effort by offering competitive compensation, incentive packages, benefits and career growth opportunities to the most qualified candidates in the marketplace. Magnolia Medical Technologies, Inc. is an equal opportunity employer.

For more information, visit magnolia-medical.com