Finance Manager

7 days ago

London, Greater London, United Kingdom MAGIC AI Full time £60,000 - £100,000 per year

MAGIC is redefining what it means to work out from home. Our AI-powered fitness Mirror combines world-class hardware, computer vision, and real-time coaching to bring the experience of a personal trainer into people's living rooms. Using advanced AI, MAGIC counts your reps, corrects your form, and motivates you through every session - making home fitness more personal, intelligent, and engaging than ever before.

We've recently been named one of
Europe's Hottest Startups
, voted 'one of the best inventions of 2024' by TIME magazine and partnered with world-class athletes like Jesse Lingard and Desiree Henry, and Strictly Come Dancing's Katya Jones to create the next generation of AI-led fitness content.

If you have an interest in fitness, AI and direct to consumer brands, this is the perfect role for you.

As the first full-time hire in the finance team, you will report to the fractional CFO and get to hone your experience across the spectrum of finance - from leading the month-end closing process to delivering accurate and financial statements in a timely manner, from assisting the CFO with fundraising across the spectrum of debt and equity to collaborating with your peers in marketing to ensure we are growing profitably with a focus on unit economics. You will be responsible for building a best-in-class finance function.

Key Responsibilities

  • Responsible for the month-end closing process including timely and accurate preparation of financial statements and payroll
  • Oversee general ledger operations and run revenue to cash reconciliations
  • Identify opportunities to scale the finance function and drive automation in a rapidly growing scale-up environment
  • Effective cash management and cashflow forecasts to ensure business is optimising its working capital
  • Assist the CFO in financial modeling, budgeting and fundraising
  • Deliver insightful analysis of monthly financial results, investigating variances between actuals and budget with a focus on growth vs profitability and the relevant KPIs
  • Work with your peers in supply and demand to model out strategic projects with a view to influence positive business outcomes

Requirements

  • 4-5 years of accounting experience
  • Qualified accountant (ACA, ACCA, CIMA, CPA or equivalent)
  • Strong technical knowledge of UK GAAP, VAT, Corporation Tax (R&D claims incl), and Payroll
  • Proven experience managing month-end processes & hands-on experience with Xero
  • Strong financial modeling and analytical skills
  • Experience working within a fast growing D2C or eCommerce business and a good understanding of the relevant KPIs
  • Excellent attention to detail and organisational skills
  • Proactive, self-starter attitude, comfortable with ambiguity and excellent communication & presentation skills

Desirable

  • Interest in automation, technology & process improvement
  • Experience in consumertech and fundraising (debt, equity, working capital)
  • Experience with launching in the US

Benefits

  • Competitive salary
  • Share Options in the company
  • An impact from day one. Our business is scaling by the day. You'll work on ambitious projects, and your contribution will significantly impact the success of MAGIC AI now and in the future
  • Unlimited Holiday (self-directed time off)
  • Flexible Home/Hybrid Working from our London HQ (At least 2 days WFH per week)
  • Free Magic mirror
  • Mental Health Wellbeing support
  • Hardware budget for brand new Macbook or other
  • Professional learning & development budget
  • Weekly free lunch club and daily free barista coffees (in office)
  • All. The. Fun. Regular awesome socials

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