What are the responsibilities and job description for the Director of Revenue position at Omnicell?
Do you want to make a meaningful difference in the quality of healthcare? Omnicell is empowering health systems and pharmacies to radically transform the way they manage medications, so they can achieve the vision of the Autonomous Pharmacy. Thousands of hospitals, pharmacies, skilled nursing facilities and care homes trust Omnicell to provide continuous innovation. They need us to deliver solutions to meet the ever-evolving challenges of the healthcare landscape. We encourage creative problem solving and outside-the-box thinking that only a diverse, well-rounded workforce can bring.
Join us as we build on our powerful combination of advanced automation, predictive intelligence, and expert services to create a safer future for patients—one where medication errors are a thing of the past. You’ll be joining an organization whose culture encourages individual development, rewards intellectual curiosity, and embraces an inclusive environment. Join our growing company and help shape the future at Omnicell!
Director of Revenue
Omnicell is currently looking for a dynamic Director of Revenue to join our Finance team. Reporting to the Sr. Director of Revenue, the Director of Revenue is responsible for leading the Revenue Recognition team for ensuring that revenue is recognized in accordance with GAAP. As part of this responsibility, the Director will be responsible for reviewing sales agreements for their impact on the financial statements, staying current with respect to relevant technical literature, preparing technical accounting memos for complex arrangements, and overseeing the financial statement close process for all related accounts. The Director of Revenue will need to be based in the Pittsburgh, PA, or Mountian View, CA area.
The role will also encompass maintaining relationships with Sales, Legal, and internal Finance teams, such as Sales Finance, Credit and Collections, Revenue Operations, General Accounting, and FP&A, both in terms of managing day-to-day activities and in developing the infrastructure to support future business needs. This position will manage multiple direct reports and be an individual contributor in multiple domestic locations.
Responsibilities
- Manage multiple direct reports and an individual contributor in overseeing the revenue function
- Be the primary subject matter expert on revenue recognition in the company and ensure that worldwide revenue is accurately and timely recognized
- Manage the compliance with ASC 606: Revenue from Contracts with Customers
- Evaluate and assess the impact of new revenue pronouncements and prepare for the adoption of the new revenue recognition standards
- Partner closely with Sales, Sales Finance, and Legal to ensure that transactions are booked in accordance with the Company’s Revenue Recognition Policy
- Review and help negotiate key contractual terms
- Provide guidance on potential revenue recognition implications
- Facilitate approval from Executive Management, as needed
- Provide guidance on moving backlog transactions to revenue and be an integral part of the revenue forecasting process
- Manage the worldwide revenue close process and requirements for multiple revenue streams, ensuring revenue and related deferred revenue are recognized in accordance with US GAAP and comply with the Company’s revenue recognition policies
- Prepare technical accounting memos and develop a strong working relationship and liaise with the Company’s external auditors on all revenue related audit issues
- Provide thought leadership with the Company’s revenue recognition policy and global processes to assist Marketing and Business Development with new product introductions and new business expansion
- Continuously use and implement new processes and procedures that utilize technology, build efficiencies, reduce duplication, and streamline workflows.
- Ensure compliance with all SOX controls and requirements
- Review and prepare all revenue related memos ensuring that all relevant facts and circumstances are disclosed and the appropriate revenue guidance is applied
- Manage periodic Standalone Selling Price (SSP) analysis and price changes
- Provide revenue recognition training to other functional organizations within the company, including Sales, Legal, Finance, and Operations, and oversee quarterly certification process
- Assist in ad-hoc projects as necessary:
- New system implementation, such as business intelligence tools
- Assist M&A team in identifying key accounting issues related to acquisitions
- Periodic formal presentations to Executive Management and the Audit Committee of the Board of Directors
Required Knowledge/Skills
- Understanding of the requirements of SOX in a public company environment
- Ability to work and communicate effectively with peers and management up to the Executive level, particularly regarding complex customer negotiations and arrangements
- Strong systems experience to recommend and be part of the cross-functional team that will drive new enhancements to our ERP system
- Significant experience working with sales organizations and customers in a high pressure, fast-paced environment
- Must be able to motivate, communicate and drive continuous improvement, including departments outside of finance
- Ability to mentor and develop staff
- Solid planning, leadership, and administration skills
- High energy, ability to work in a fast-paced environment, and ability to multi-task
- Very strong written and verbal communications skills
- Very strong Excel skills
Basic Qualifications
- Bachelor’s degree
- 8 years’ experience in an accounting role
- 3 years’ experience in public accounting
- 3 years’ experience managing staff in a finance role
- CPA
- Experience with accounting rules ASC 606 relating to software, hardware, SaaS, and services revenue recognition and multiple-element arrangements.
- Significant experience in the actual application of revenue accounting guidance
Preferred Qualifications
- MBA
- 2 years’ experience within medical device, healthcare, or capital equipment
- 10 years’ experience in an accounting role
- 5 years’ experience in public accounting
- 5 years’ experience managing staff in a finance role
Work Conditions
- Travel up to 15%
- Standard Office Environment
- Occasional heavy workload during peak times
To protect our employees, partners, and customers, Omnicell requires most U.S. employees to either be fully vaccinated for COVID-19 or obtain approval from Omnicell for an exemption and accommodation for a medical condition or a sincerely held religious belief or practice.
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Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
All qualified applicants will receive consideration for employment without regard to race, sex, color, religion, sexual orientation, gender identity, national origin, protected veteran status, or on the basis of disability.
Omnicell will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information.
