Compensation Overview

About the Finance & Legal Team:

Formic provides robotics to customers via RaaS, and the Finance & Legal team is a critical part of the “as-a-service” part. They, like the wiring, plumbing or framing of a house that is not seen, are a critical part of making the house stand, last and function properly. The Finance & Legal Team is responsible for financial operations, treasury and finance, accounting, credit, legal, compliance, and customer contracting and servicing. 

This role plays a crucial role in supporting the team with key administrative and operational responsibilities. You will be responsible for providing high-level administrative support, managing processes for insurance tracking and gathering and verifying documentation for integrator onboarding, assisting with insurance renewal process and related audits and reporting, coordinating critical projects, and ensuring the seamless operation of the Finance & Legal Team. The ideal candidate possesses exceptional organizational skills, strong attention to detail, excellent communication, and the ability to handle sensitive and confidential information with discretion.

As our Financial Operations and Insurance Administrator, you will:

• Own customer and contractor/integrator insurance policy management and tracking
• Enhance existing, or build new, processes, procedures, and tools
• Collaborate with the Customer Success and Deployment teams, insurance agents, and customers, to resolve insurance issues 
• Develop and own the process and procedure for collecting required documentation and confirming compliance requirements are met for contractor/integrator onboarding
• Collaborate with the Products and Partnerships team to ensure all requirements are met and documentation is received 
• Manage Formic’s insurance policies and track COIs Formic sends to other parties to ensure compliance.  Assist with required reporting and renewals, including communicating with our insurance agents and companies
• Manage Formic’s tax exemption certificate process with outside tax firms, including requesting and submitting to appropriate parties, and completion of tax exempt allocations and affidavits. 
• Manage supplier and vendor setup 
• Complete forms requested by third parties and customers (e.g., credit applications, vendor references, vendor questionnaires)
• Manage the Finance and Legal team’s shared drives, ensuring folder/file structure and hygiene
• Manage the Finance and Legal team’s teamspace in Notion
• Handle confidential information appropriately, including where appropriate, sequestration of documents and information
• Manage company virtual mail
• Assist team with other projects and tasks as assigned to support the needs of the team or company

What makes you a great fit:

• Bachelor’s degree 
• 5+ years of experience with and knowledge of commercial insurance policies and certificates of insurance 
• 5+ years of experience in a documentation administrative role or equivalent 
• Demonstrated experience with successful development of operational processes, policies, and procedures
• Demonstrated success in oversight of projects and tasks that require coordination and persistence with people at all levels in the corporate hierarchy
• Proficiency in Google Suite
• Possess an optimistic attitude with a willingness to dive in and handle unfamiliar matters
• Possess exceptional organization, prioritization, and communication skills
• Ability to work independently with limited oversight
• Experience with project management
• Willingness to roll up sleeves and learn (or develop) new systems and processes 
• The ideal location for a candidate would be in Charlotte, NC. 
  • Los Angeles, CA; Chicago, IL; or San Francisco, CA are secondary geographic preferences
  • Candidates not located in any of these cities will also be considered depending on experience and capabilities

What we look for:

We’re building a company from the ground up, so every single person we hire has a massive impact on our team, culture, and ability to accomplish our mission. While each individual brings their own unique skills and perspectives to Formic, we look for people who share our vision and act in alignment with our Operating Principles. If this sounds like you, Formic could be the place for you:

• Fearless Optimism:You share our ambitious vision of what we can accomplish. You’re aware of the challenges we will face as a startup doing new things in an old space, but you’re energized by the incredible opportunity we have to drive change for our customers, and for the manufacturing industry at large.
• Factories First:You have a strong customer focus, no matter who your customer is. You seek to make things easier and better for our customers, even if it makes your job a little harder. 
• Today, Not Tomorrow: There are always plenty of projects to tackle in a startup, but you prioritize, take accountability for work, and have a bias toward action.
• Be Right Often: You don’t do things just because that’s how they’ve always been done. You keep looking for ways to improve, seek out feedback along the way, and back your decisions up with data. 
• Made of Rubber: Just like rubber, when you fall you bounce back up. You know there’s going to be a lot of challenge and change in our work ahead but you are adaptable, resilient, and ready to thrive through it all.
• Good Baton Passes: You work with a desire to make things easier and better for your team members. You use empathy to understand the needs and goals of others and support each other so Formic can be successful together. 

Total Rewards:

Total rewards packages at Formic consist of salaries benchmarked against similar stage growth companies, insurance (medical, dental, vision, life, STD, LTD), and equity in Formic itself. As an early stage startup, equity is an important part of our investment in you, and your investment in Formic. When Formic succeeds, we all succeed.

Final offer amounts are custom-crafted, based on the cash/equity ratio preference of the candidate, as well as their experience, geographical location and cost of labor, and more, and may vary from the range listed below. Ultimately we’re seeking top performers who will make a difference to our business, and we’re open to negotiating the compensation structure for the right candidate.

The expected base pay range for this position is $70,000 - $110,000.