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Full-Time

Senior Manager of Accounting Close and Operations

Updated on 10/4/2024

Penumbra Inc

Penumbra Inc

1,001-5,000 employees

Develops medical devices for vascular conditions

Healthcare
Biotechnology

Compensation Overview

$165k - $224.8kAnnually

Senior, Expert

Alameda, CA, USA

Hybrid position in Alameda, CA.

Category
Budget Analysis
Financial Accounting
Management Accounting
Accounting
Required Skills
Word/Pages/Docs
Requirements
  • A Bachelor's degree in accounting or related field with 12+ years of experience, or equivalent combination of education and experience
  • A comprehensive understanding of US GAAP, internal controls and full cycle accounting experience are required.
  • Certified Public Accountant (CPA) is a plus
  • 8+ years of experience in a supervisory role desired
  • Strong analytical abilities, as well as oral, written, and interpersonal communication skills
  • High degree of accuracy and attention to detail
  • Proficiency with Microsoft Word, Excel, and other standard office tools
  • Excellent organizational skills with ability to prioritize assignments while handling various projects simultaneously
Responsibilities
  • Select, manage, train, and develop staff. Establish objectives and assignments and provide ongoing feedback through performance reviews and development plans.
  • Lead and manage a team of accounting professionals responsible for U.S. general ledger activities and certain international close activities.
  • Key player in the monthly, quarterly, and annual close process, managing deliverables to ensure the delivery of timely and accurate financial statements in accordance with U.S. Generally Accepted Accounting Principles (GAAP).
  • Lead areas in the month end close cycle, including taking ownership of journal entries, account reconciliations, and fluctuation analyses for key components of our financial statements.
  • Leads team in presenting financial results, identifying trends, and providing insights to management.
  • Assist the Assistant Controller and Controller with the management of the accounting department, including work distribution and problem-solving.
  • Lead the integration and maintenance of new and existing accounting systems and processes.
  • Drive close cycle automation and process improvement initiatives intended to condense the close cycle, reduce manual work, and improve consistency and standardization of processes.
  • Review schedules to support SEC filings, audit and other statutory reporting requirements and work with external auditors.
  • Assist management with special projects and tasks.
  • Provide technical accounting expertise and knowledge.
  • Maintain effective internal controls for the financial close processes, ensuring compliance with SOX requirements and mitigating financial risk by monitoring accounting policies and procedures.

Penumbra Inc. specializes in creating medical devices aimed at treating neurovascular and peripheral vascular conditions. Their products, such as the Penumbra System and the Indigo System, are designed to assist healthcare professionals in addressing issues like stroke and other vascular diseases. These devices work by providing advanced tools for interventions in neurology and vascular surgery, allowing for effective treatment options. Unlike many competitors, Penumbra focuses on a specific range of conditions and invests heavily in research and development to continuously enhance their offerings. The company's goal is to deliver high-quality medical devices that meet the needs of healthcare providers and improve patient outcomes.

Company Stage

IPO

Total Funding

$3.4M

Headquarters

Alameda, California

Founded

2004

Growth & Insights
Headcount

6 month growth

4%

1 year growth

9%

2 year growth

17%
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Simplify's Take

What believers are saying

  • Penumbra's recent product launches, such as the BMX81 and BMX96 in Europe, demonstrate their commitment to expanding and improving their product portfolio.
  • Significant investments from firms like Jennison Associates LLC and Algert Global LLC indicate strong financial backing and confidence in Penumbra's growth potential.
  • The company's participation in high-profile conferences like the Truist Securities MedTech Conference and the William Blair Growth Stock Conference highlights its industry recognition and thought leadership.

What critics are saying

  • The highly competitive medical device market requires Penumbra to continuously innovate to maintain its market position.
  • Regulatory challenges and the need for CE Marks and FDA approvals can delay product launches and impact revenue.

What makes Penumbra Inc unique

  • Penumbra's focus on both neurovascular and peripheral vascular conditions sets it apart from competitors who may specialize in only one area.
  • Their continuous investment in R&D ensures that they remain at the forefront of medical device innovation, particularly with recent launches like the Lightning Flash 2.0 CAVT technology.
  • Penumbra's global reach, serving healthcare providers in over 100 countries, provides a broad market presence that many competitors lack.