The posting
About Us:
Rent the Runway (RTR) is transforming the way we get dressed by pioneering the world’s first Closet in the Cloud. Founded in 2009, RTR has disrupted the $2.4 trillion fashion industry by inspiring women with a more joyful, sustainable and financially-savvy way to feel their best every day. As the ultimate destination for circular fashion, the brand now offers infinite points of access to its shared closet via a fully customizable subscription to fashion, one-time rental or ownership. RTR offers designer apparel and accessories from hundreds of brand partners and has built in-house proprietary technology and a one-of-a-kind reverse logistics operation. RTR has been named to CNBC’s “Disruptor 50” five times in ten years, and has been placed on Fast Company’s Most Innovative Companies list multiple times.
About the Role:
The VP of Finance will serve as a key member of the financial leadership team reporting directly to the Chief Financial Officer. By way of best-in-class planning, insightful analyses, and strategic thinking, the Finance team plays a key role in partnering with the business and informing leadership of actual and projected performance. In addition, the team’s focus is on analyzing business trends, recommending adjustments and supporting new initiatives in a fast-paced and highly collaborative, cross-functional environment. You will be empowered to drive improvements in the quality of our work as the RTR business grows under new leadership and strategic direction. We are seeking a seasoned finance leader with an entrepreneurial drive, strong leadership skills, and proven ability to partner with various business leaders.
This is an office centric role based out of our Brooklyn, NY headquarters. We are in the office Monday-Thursday.
What You'll Do:
- Lead the FP&A team - partnering closely with key stakeholders across the business to budget, forecast and manage the business.
- Play an integral role in the company’s strategic evolution from a concentrated subscription membership model to a fashion service platform that serves our customer’s desires to rent, reserve and buy apparel and accessories.
- Lead a redesigned enterprise planning and performance reporting process and manage ongoing rolling forecast updates. Drive operational excellence and business leader accountability through the weekly, monthly and quarterly planning cadences.
- Drive strategic financial planning, building long range plans and size strategic initiatives in partnership with operating leaders across the business.
- Partner with CFO to formulate external guidance to the street and ensure the business is being managed in a disciplined way to meet external commitments.
- Lead corporate financing activities through development of recommendations to the board of directors, analysis of options on timing and sources of funding, and successfully completing the financings in partnership with internal and external legal counsel.
- Assist with external SEC filings through developing relevant MD&A commentary and business risk disclosure narratives.
- Build and iterate complex financial models covering all aspects of RTR’s operations that will enable effective decision making regarding the company’s revenue growth strategy, cost structure, and capital investments.
- Improve operating teams’ understanding of financial statements and budget adherence with thoughtful and transparent analysis and partnership.
- Maintain and enhance efficiency of internal financial reporting processes, serving as a thought leader to upgrade reporting standards through the pursuit of continuous process improvement.
- Evaluate and make recommendations on investments in planning systems and analytic toolsets that leverage company data and AI capabilities.
- In partnership with the Business Intelligence function, establish, track and monitor key operating metrics used to drive the business to greater efficiency.
- Create ad-hoc analyses to drive business strategy, improve efficiency and maximize ROI.
- Establish FP&A team excellence through establishing departmental vision, goal setting, coaching and individual development plans.
- Assist in preparation of materials for Board of Director meetings and participate in key financial planning presentations.
- Participate in Senior Leadership Team initiatives and bring a trusted financial voice to planning discussions and execution activities.
- Oversee reporting and compliance certification requirements for lender entities and prepare external auditor liquidity analysis.
About You:
- A Bachelor's Degree is required.
- 15+ years of experience in finance and strategic analysis in operational roles within an ecommerce brand, apparel retailer or consumer products company. Additional time spent in investment banking/consulting/asset management is a plus.
- Curious, hardworking, demonstrated ability to quickly immerse into a new business and provide valuable insight, questions and contributions
- Ability to focus on details as well as understand the larger context, independent thinker
- Experiencing leading, building and managing a high performing team
- Entrepreneurial drive, excellent communication and interpersonal skills with demonstrated ability to work in a fast paced and dynamic environment
- Strong leadership and mentorship skills
- Highly proficient in financial analysis and model building and understands the implications of that analysis for decision making
- Highly motivated and willing to take on multiple responsibilities at once
- Able to work comfortably under pressure and meet tight deadlines
Benefits:
At Rent the Runway, we’re committed to the wellbeing of our employees, and aim to create a workplace that fosters both personal and professional growth. Our inclusive benefits include, but are not limited to:
- Paid Time Off including vacation, paid bereavement, and family sick leave - every employee needs time to take care of themselves and their family.
- Universal Paid Parental Leave for both parents + flexible return to work program - because we know your newest family member(s) deserve your undivided attention.
- Paid Sabbatical after 5 years of continuous service - Unplug, recharge, and have some fun!
- Exclusive employee subscription and rental discounts - to ensure you experience the magic of renting the runway (and give us valued feedback!).
- Comprehensive health, vision, dental, FSA and dependent care from day 1 of employment - Your health comes first and we’ve got you covered.
- 401k match - an investment in your future.
- Company wide events and outings - our team spirit is no joke - we know how to have fun!
- Office centric work - our corporate employees and technical leaders have the option to work remotely on Fridays, in accordance with Company policies.
Rent the Runway is an equal opportunity employer. In accordance with applicable law, we prohibit discrimination against any applicant or employee based on any legally-recognized basis, including, but not limited to: race, color, religion, sex (including pregnancy, lactation, childbirth or related medical conditions), sexual orientation, gender identity, age (40 and over), national origin or ancestry, citizenship status, physical or mental disability, genetic information (including testing and characteristics), veteran status, uniformed service member status or any other status protected by federal, state or local law.
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The anticipated base salary for this position is $238,400 to $275,000. The actual base salary offered will depend on a variety of factors, including without limitation, the qualifications of the individual applicant for the position, years of relevant experience, level of education attained, certifications or other professional licenses held. This position is also eligible for equity compensation.
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