Fractional Finance Manager

At Parallel Bio, we are leveraging the human immune system to unlock safer, more effective drugs. We believe immunotherapies are the future of medicine, but their discovery is hindered by outdated models that fail to capture the complexity of the human immune system. Our platform overcomes these challenges by combining best-in-class human immune organoids with massive scale and advanced computational methods, including AI and machine learning. This allows us to generate unprecedented, population-scale insights into human health and disease. We can rapidly discover new drugs that we know will work in patients from the start and understand how they will perform across an entire population—something not possible with today's technology. This knowledge will allow us to engineer therapies that will work for as many people as possible, ensuring a safe and effective cure for everyone. We are a fast-paced, venture-backed company at a pivotal moment of growth. Join us on our journey as we create new tools to push the boundaries of what is possible. The Role Parallel Bio is hiring a Fractional Accounting Manager to own the monthly close process and maintain the financial infrastructure of a growing biotech. You will prepare journal entries, reconcile accounts, process disbursements, and ensure accurate reporting to leadership and the Board. This is a hands-on role for someone who can operate independently interfacing with the executives and operating cross-functionally with external service providers.

Responsibilities

Monthly Close and Financial Reporting

• Prepare and post journal entries, including payroll, benefits, and accruals.
• Perform monthly bank reconciliations for all Company accounts, investigate outstanding items, and resolve discrepancies.
• Compile monthly financial statements (balance sheet, income statement, cash flow) for executive review prior to Board submission.

Accounts Payable

• Process vendor invoices through three-way match (PO, invoice, receiving documentation).
• Prepare weekly payment batches for Head of Finance approval.
• Maintain vendor master file and coordinate new vendor setup with appropriate documentation (W-9, banking information).

Payroll and Benefits

• Aggregate payroll data from Rippling monthly, prepare payroll journal entries, and reconcile payroll registers to the general ledger, including leave payment reconciliation and off-cycle payment tracking.
• Review monthly benefit deductions and 401(k) contributions against enrollment records and plan administrator reports.
• Verify employee eligibility for tax-advantaged benefits (HSA, FSA, 401k), reconcile employer match calculations, and ensure timely remittance to plan administrators.

Tax Compliance

• Coordinate with external tax advisors on federal and state corporate tax filings, estimated tax payments, and annual returns.
• Support quarterly and annual payroll tax filings (Form 941, state equivalents) and perform four-way reconciliation of payroll registers, tax filings, and general ledger prior to W-2 issuance.
• Coordinate with the Science team to gather R&D tax credit documentation substantiating qualified research activities and expenses.
• Prepare supporting schedules and maintain tax provision workpapers.

Equity and Treasury

• Record capital contributions, distributions, and other equity transactions in the general ledger.
• Maintain the equity rollforward schedule and coordinate with legal counsel on cap table updates.

Multi-Entity Accounting

• Prepare and maintain intercompany transfer agreements and supporting documentation between the US parent and EU subsidiary.
• Record intercompany transactions, reconcile intercompany balances monthly, and ensure proper elimination entries for consolidation.
• Consolidate EU financials with the US parent entity, translate IFRS subsidiary results to US GAAP, and maintain the cumulative translation adjustment schedule.
• Partner with EU subsidiary operations and external accountants to ensure timely receipt of local financials, coordinate on VAT filings and statutory reporting, and support local audits as needed.
• Maintain transfer pricing policies and contemporaneous documentation for intercompany service agreements and cross-border transactions.

Internal Controls and Audit Support

• Execute controls as documented in Company process narratives, including vendor verification, duplicate payment prevention, and segregation of duties.
• Proactively identify and flag control gaps and process improvements.
• Maintain organized financial records per Company retention policy and prepare reconciliation packets and supporting documentation for external audits, statutory audits, and year-end close.

Qualifications

5+ years of Accounting Experience

• You have a track record in accounting or finance roles, ideally in a startup, biotech, or high-growth environment.
• Experience with monthly close, AP, payroll accounting, and multi-entity consolidation required. Prior experience with international subsidiaries strongly preferred.
• CPA certification required, with an active license in good standing.

Technical Proficiency

• You are comfortable with QuickBooks Online, Google Sheets/Excel, SQL, Python, cloud-based payroll systems (Rippling preferred).
• You can build and maintain reconciliation workbooks and troubleshoot data discrepancies.

Knowledge of GAAP, IFRS, and Tax Requirements

• You understand US GAAP, have working knowledge of IFRS differences, and can perform IFRS-to-GAAP conversions for consolidation.
• Familiarity with foreign currency translation (ASC 830), intercompany accounting, and transfer pricing documentation.
• Experience with payroll tax obligations and IRS/state filing requirements. QSBS considerations a plus.

Detail Orientation

• You catch errors before they become problems.
• You maintain clean workpapers and can trace any transaction back to supporting documentation.

Independent Operator

• You manage your own workload, meet deadlines without reminders, and communicate proactively when issues arise.
• You are comfortable working asynchronously with a distributed team.

Strong Communicator

• You can translate accounting details into clear updates for non-finance stakeholders and coordinate effectively with external accountants, auditors, and legal counsel.

Fractional Availability

• This is a part-time role, estimated at 20-30 hours per week, with increased capacity during monthly close and year-end periods. Potential for conversion to full-time.

About Parallel Bio

Parallel Bio is an equal opportunity employer committed to fostering an inclusive and respectful workplace. We encourage applications from individuals of all backgrounds, regardless of age, gender, ethnicity, religion, disability, or sexual orientation.