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Full-Time

Sr. Accounting Manager

Posted on 6/27/2024

Favor

Favor

1,001-5,000 employees

On-demand delivery service connecting local businesses

Social Impact
Consumer Goods

Senior, Expert

Austin, TX, USA

Hybrid role requiring in-office presence in Austin, Texas for the remaining work days.

Category
Budget Analysis
Financial Accounting
Management Accounting
Accounting
Required Skills
SQL
Excel/Numbers/Sheets
Requirements
  • A bachelor’s degree or higher in Accounting
  • 8+ years of progressive experience, including Big 4 public accounting and operational experience
  • 3+ years of management experience, including leadership and development responsibilities
  • Experience with financial statement analysis and research and application of complex accounting standards in accordance with GAAP and FASB
  • Understanding and experience with transactional eventing and payment processing systems
  • Advanced level of Microsoft Excel and experience using Google Workspace
  • Comprehensive knowledge of accounting concepts, including researching and applying GAAP for complex concepts
  • A certified public accountant (CPA) is required
  • Familiarity with structured query language (SQL) is a plus
Responsibilities
  • Oversee all aspects of timely and accurate month-end close activities, including review of journal entries, account reconciliations, and Generally Accepted Accounting Principles (GAAP) financial statements
  • Lead the Accounting team with daily operations, including accounts payable, accounts receivable, treasury, expense management, and regulatory compliance
  • Guide the Finance team and other business teams on trends and expectations for expense forecasting
  • Oversee application of significant accounting principles, account fluctuation analysis, and maintenance of financial statement files
  • Own our internal financial reporting system (“Click to Cash”) in collaboration with our Payments Engineering team
  • Work cross-functionally with Engineering and Product leadership teams on requirements for new products and features
  • Research technical accounting issues for new and proposed management initiatives and new accounting standards, documenting and presenting the company's position
  • Collaborate with our parent company, H-E-B, on intercompany reporting, tax, and compliance

Favor Delivery operates in the on-demand delivery market, primarily in Texas, providing a service that delivers a variety of products, including food, beverages, and everyday essentials, directly to customers' homes. The service works by partnering with local businesses such as restaurants and retail stores, allowing users to choose from a diverse selection of items that can be delivered quickly. Favor Delivery stands out from competitors like DoorDash and Uber Eats by focusing on hyper-local markets and building strong relationships with local businesses, as well as actively supporting community initiatives that resonate with socially conscious consumers. The company's goal is to offer convenience to busy individuals and families while promoting local businesses and community engagement. Favor generates revenue through delivery fees charged to customers and service fees from partner businesses, along with potential earnings from promotional partnerships.

Company Stage

M&A

Total Funding

$50M

Headquarters

Austin, Texas

Founded

2013

Growth & Insights
Headcount

6 month growth

1%

1 year growth

1%

2 year growth

13%
Simplify Jobs

Simplify's Take

What believers are saying

  • Favor's strong community engagement, such as the Feeding Texas campaign, enhances its brand reputation and customer loyalty.
  • The company's hyper-local focus allows it to better understand and cater to the specific needs and preferences of Texas residents.
  • Recent executive team expansions and leadership hires signal a commitment to growth and innovation, potentially leading to new opportunities for employees.

What critics are saying

  • Operating exclusively in Texas limits Favor's market reach and exposes it to regional economic fluctuations.
  • The highly competitive on-demand delivery market, dominated by giants like DoorDash and Uber Eats, poses a constant threat to Favor's market share.

What makes Favor unique

  • Favor Delivery focuses exclusively on the Texas market, fostering strong local relationships and community engagement, unlike national competitors.
  • The company's emphasis on supporting community initiatives, such as promoting Black-owned businesses and LGBTQI communities, resonates with socially conscious consumers.
  • Favor's unique promotional partnerships with local brands like H-E-B and Central Market provide additional value to customers and differentiate it from other delivery services.

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