Director of Accounting

Bloomington, MN Bloomington, MN 55438, USA Pay or shift range: $160,000 USD to $175,000 USD Flagg Bicycle Group (Quality Bicycle Products, Workstand, Wheel Mfg and Terry Precision Cycling) approaches pay in an ethical and transparent way. Pay ranges are assigned to a job based on market data from 3rd party salary benchmark data as well as balancing internal equity of other roles with similar levels of responsibility. Individual pay within the range can vary for several reasons including, but not limited to, skills, abilities, experience, tenure, performance, and available budget. Description This is a Hybrid role that is based in the Bloomington, MN Metro area. Position Overview Quality Bicycle Products (QBP) is the largest wholesale distributor of bicycles, parts, and accessories in North America. QBP is a subsidiary of the Flagg Bicycle Group (FBG), a privately held holding company whose portfolio includes QBP, Wheels Manufacturing, Terry Precision Cycling, SmartEtailing, Q-Taiwan, and several real estate and trust entities. The Director of Accounting is a strategic leadership role responsible for accounting operations, financial reporting, internal controls, and ERP system leadership for QBP — while supporting consolidated reporting across the broader FBG family of companies. The Director leads the accounting organization through the Accounting Manager and provides oversight, review, and technical direction rather than executing the day-to-day accounting cycle. Scope includes accounts receivable and accounts payable leadership, SAP S/4HANA functional ownership, and multi-entity financial reporting. The Director of Accounting will receive progressive strategic exposure, cross-functional leadership opportunities, and executive visibility, with a strong emphasis on professional growth and leadership development. Financial Close, Reporting & Consolidation (30%) The Director of Accounting provides leadership, oversight, and final review of the close and reporting process, which is executed day-to-day by the Accounting Manager and accounting team. Provide leadership and oversight of the monthly, quarterly, and annual close, ensuring the Accounting Manager and team deliver accurate, timely, and GAAP-compliant results Establish close calendars, standards, and reporting expectations; monitor performance against deadlines and drive continuous improvement of the close Review and approve financial statements (income statement, balance sheet, cash flow) and management reporting packages prepared by the accounting team Review and interpret variance analysis versus budget, forecast, and prior periods; present financial results and insights to leadership Own consolidated financial reporting across FBG entities, including intercompany eliminations and transfer pricing documentation Own the external audit relationship; direct audit planning, coordinate deliverables, and resolve technical accounting matters Establish standards for revenue recognition, expense cutoff, and balance sheet integrity; review reconciliations and approve significant or non-routine journal entries Oversee the financial reporting environment (Prophix, SAP trial balance imports, consolidated reporting), setting requirements and reviewing output for accuracy Internal Controls, Compliance & Risk (15%) Design, implement, and maintain a robust internal control framework appropriate for QBP's scale and complexity Ensure GAAP compliance across all accounting functions; serve as the organization's primary GAAP authority Develop, document, and maintain accounting policies and procedures; embed these into the Month-End Close Playbook Identify and remediate control gaps; lead resolution of audit findings and management letter recommendations Support tax compliance and reporting in coordination with the FBG Tax function and external advisors Establish and enforce journal entry approval controls and segregation of duties Serve as the finance/accounting functional owner for SAP S/4HANA across all relevant modules (FI-GL, FI-AP, FI-AR, FI-AA, CO) Lead accounting-side User Acceptance Testing (UAT), defect triage, and go-live readiness validation Own post-go-live stabilization, hypercare, and ongoing optimization of finance modules Drive adoption of SAP Fiori apps to modernize accounting workflows and replace legacy transaction codes Partner with IT/Applications on system enhancements, integrations (Prophix, Wells Fargo, Esker, Sovos, Corpay), and reporting improvements Champion automation of manual workarounds and elimination of custom processes that impede scalability Ensure audit trail integrity, data quality, and master data governance within SAP (profit centers, cost centers, chart of accounts) Serve as the bridge between finance business requirements and SAP technical teams; translate accounting needs into system specifications Inventory & Cost Accounting (10%) The Director sets methodology and reviews results; the Accounting Manager and team perform the reconciliations, reserve calculations, and count activities. Set inventory valuation and cost flow methodology; provide oversight of inventory accounting across multiple distribution centers Review inventory sub-ledger to general ledger reconciliations; direct resolution of significant discrepancies Review and approve inventory reserves (obsolete, slow-moving, excess, shrink) and analyze COGS and gross margin trends Provide oversight of physical inventory counts and cycle count programs; ensure sound valuation and reserve methodology Partner with Operations, Purchasing, and Category Management on inventory valuation and cost accounting policy Accounts Receivable & Accounts Payable Leadership (10%) The Director provides functional leadership and control oversight of the AP functions. Day-to-day Accounts Payable management resides with the Accounting Manager. Provide strategic and control oversight of the Accounts Payable function, which is managed day-to-day by the Accounting Manager Establish and enforce controls, approval thresholds, and policy governing disbursements, write-offs, and cash application Review and approve significant or non-routine disbursements, write-offs, and payment-term exceptions Monitor AR aging, DSO, and AP performance metrics; partner with Sales on credit and collection strategy and bad debt reserves Set direction for continuous improvement of collections, cash application, and vendor payment processes Directly manage the Accounting Manager; provide leadership to the broader accounting team through that role Conduct regular 1:1s and performance reviews; provide coaching, mentoring, and professional development support Build a strong control-minded, continuous-improvement culture within the accounting organization Assess team capabilities and recommend structural changes as the business scales Develop succession depth within accounting — specifically, cultivate the Accounting Manager → Assistant Controller path Manage workload distribution to prevent capacity overload and leadership burnout — a deliberate organizational priority Strategic Finance & Leadership Development (5%) This section reflects the intentional development scope of the role — responsibilities that will expand over time as the Director of Accounting takes on broader strategic exposure: Participate in annual planning and quarterly forecast review alongside the Director of FP&A Present financial results and analysis to executive leadership and the FBG board Represent finance in cross-functional business decisions (pricing, category management, capital allocation) Partner with the Director of FP&A on integrated financial strategy and business unit performance Gain progressive exposure to banking relationships, lender reporting, and debt covenant compliance Participate in strategic initiatives such as M&A evaluation, new entity formation, and business model analysis Attend and contribute to the FBG Audit, Compliance, and Risk Committee Holding Company & Multi-Entity Requirements As a subsidiary of Flagg Bicycle Group (FBG), the QBP Director of Accounting must operate effectively within a complex multi-entity structure. Specific requirements include: Experience working within or reporting to a holding company structure with multiple legal entities under common control Familiarity with intercompany transactions, eliminations, and preparation of consolidated financial statements Understanding of shared services models, management fee structures, and cost allocation methodologies Ability to support financial reporting across diverse entity types: C-Corp, S-Corp, LLC, trusts, and disregarded entities Experience coordinating with a holding company controller, compliance director, or CFO on group-level reporting Multi-currency experience or international branch accounting (QBP operates Q-Taiwan as a foreign branch) preferred Familiarity with transfer pricing documentation and arm's-length transaction standards Hands-on experience as a finance/accounting user or functional lead within SAP S/4HANA (FI-GL, FI-AP, FI-AR, FI-AA, CO) Direct participation in at least one SAP ECC-to-S/4HANA migration or greenfield S/4HANA implementation Understanding of the Universal Journal (ACDOCA), merged financial and management accounting, and real-time reporting capabilities Familiarity with SAP Fiori apps for accounting workflows (journal entry posting, invoice processing, bank statement reconciliation) Knowledge of SAP integration points: bank interfaces (FEBAN/Electronic Bank Statements), procurement (MM), sales (SD), and controlling (CO-PA) Ability to translate finance business requirements into functional specifications for SAP technical teams Experience with SAP master data governance: chart of accounts, profit center/cost center hierarchy, and business partner setup Understanding of SAP reporting tools and ability to leverage embedded analytics; experience with BW, SAC, or Power BI integration is a plus Qualifications Required Bachelor's degree in Accounting or Finance #J-18808-Ljbffr Workstand