Accountant

Singapore

itBit is a global exchange and custodian offering institutional and retail investors a regulated platform to buy, sell and hold crypto assets. In 2015, itBit obtained a New York State trust company charter and became the first regulated Bitcoin exchange in the U.S. As a regulated financial services company based in New York City, itBit is focused on meeting the sophisticated needs of institutions, active traders and other crypto asset trading professionals. In addition to New York City, itBit has an office and operational teams based in Singapore.

We are looking for an Accountant  to join a rapidly growing tech startup finance organization who will help position the company and team for success through developing and implementing processes that will scale. The role will be a critical part of allowing the business to make accurate real time decisions. The role will report into a Regional Manager who is based in Singapore, and interface with the global finance team that is based in New York (NY). 

We hold ourselves to a very high hiring bar. To achieve this, we think of roles first and foremost as outcomes to be achieved, not simply a description of responsibilities. We have developed what we call a ‘Success Profile’ for this role, which has two sections: 

  • Outcomes: Meaningful and measurable work products that have a significant impact on the team and business over a defined timeframe
  • How to Achieve Outcomes: We have a strong point of view on how this role will succeed in achieving outcomes at itBit. So, we have taken the Operating System of itBit - our values - and made it relevant to this role.

 

Outcomes:

  • Bring a level of sophistication to the monthly financial close process with appropriate controls being put in place and provide accurate, easy and clear visibility into the state of the business. Success will be measured by a local monthly close by business day 7 and assisting the global consolidation by business day 12.
  • Build out a dynamic ledger to support the growth and scale of the business which includes a review of existing processes and platforms and recommend changes. Success will be measured by the businesses ability to receive and understand key financial performance indicators in real time.
  • Assess, develop and implement the appropriate controls and processes for the financial close that will provide visibility into the state of the business.  Success will be measured by decreasing the amount of manual interventions.
  • Build a deep relationship with local business leadership and functional areas.  Success will be measured by the ability for the business to make fast local decisions with finance input without the need for direction from New York headquarters.

 

How to achieve the Outcomes:

Technical Acumen Required:

  • Deep understanding of local Singapore tax and finance regime with ability to leverage local resources to ensure company filing status is to date.
  • Manage and articulate all general ledger bookings with ability to identify differences between local and U.S. GAAP treatments.
  • Execute client revenue reporting by understanding how fees are captured and different relationships between the company and other third parties (ie Market Makers).
  • Understand the cash balance needs of the organization through analyzing historical trends and ensuring clear communication to NY in anticipation of cash shortfall.  
  • Identify and articulate both sides of journal entries for related entity funded transactions.

 

Shared commitment to excellence:

  • Challenge existing processes to improve efficiency and effectiveness of the finance function globally and never take a view of "that is how it was done previously"
  • Dive deep and insist on rigor of analysis on things such as presenting the business case/economics for each initiative even when it’s inconvenient to other team members and stakeholders.
  • Develop a track-record and reputation of being unwilling to accept surface level answers as it relates to all historical financial statements.
  • Self develop through continuous professional education by keeping abreast with the latest financial reporting standards and developments in the accountancy profession.

 

Search for the Truth:

  • Be able to perform deep research on Virtual Currency that you may be unfamiliar.  This research should lead you to form opinions or points of view that can be used to propose key changes to the organizational booking (eg. tax changes, intercompany transaction impacts)
  • Be open minded to explore new ideas and create innovative solutions to existing and new processes.

 

Real time candor:

  • Ability to clearly articulate timelines and manage to them independently. Provide real time updates where they will not be met.
  • Ability to disagree with team members without destroying the trust you have built with them. Do this by consistently articulating viewpoints or disagreements based on outcomes and with data points (qualitative or quantitative)

 

Be an owner:

  • Independently manage all operational activities pertaining to the monthly financial close, and processing of payroll and payments, including liaising with external service providers.
  • Take personal responsibility for the quality of your work by ensuring that all transactions and reports are accurate and timely.
  • Anticipate obstacles early and propose solutions to overcome blocking items for the business.
  • Be willing to take ownership of project deliverables that may be part of global or cross-functional initiatives.

 

ITBIT IS AN EQUAL OPPORTUNITY EMPLOYER. IT DOES NOT DISCRIMINATE ON THE BASIS OF SEX, AGE, COLOR, RACE RELIGION, MARITAL STATUS, NATIONAL ORIGIN, ANCESTRY, SEXUAL ORIENTATION, PHYSICAL AND MENTAL DISABILITY, MEDICAL CONDITION, GENETIC INFORMATION, VETERAN STATUS OR ANY OTHER BASIS PROTECTED BY FEDERAL, STATE OR LOCAL LAW.

 


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