Head of Finance & Operations
atPolygon Labs
Oct 23
What is Polygon Labs?Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups and optimistic rollups), sidechains, hybrid chains, app-specific chains, enterprise chains, and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 225 million, over 1.2 million smart contracts created and 2.56 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative.Job SummaryWe are seeking an experienced and dynamic Head of Finance and Operations to join our team. This unique hybrid role requires a strategic thinker who can seamlessly navigate the complex financial landscape of venture capital while also overseeing the operational aspects of our firm. The successful candidate will play a pivotal role in managing our financial resources, optimizing operational efficiency, and ensuring compliance within the Web3 venture capital sector.Key Job Responsibilities
Compliance and Reporting:
- Ensure compliance with regulatory requirements relevant to investments.
- Prepare accurate and timely financial reports, including investor reporting and fund performance updates.
- Manage audits, tax filings, and other financial compliance matters.
Investment diligence:
- Work with the fundās council to analyze investment documents and ensure the terms are aligned with the fundās interests.
- Evaluate investment opportunities, including deal structuring and negotiation.
- Collaborate with the investment team to make informed investment decisions.
Operational Efficiency:
- Implement and streamline operational processes to enhance efficiency and scalability.
- Oversee fund administration, including fund accounting, fund operations, and investor relations.
- Identify opportunities for cost optimization and operational improvements.
- Work with legal counsel to manage legal and contractual aspects of investments.
Fund Accounting and Administration:
- Set up and maintain accounts for the fund, ensuring accurate and transparent financial records.
- Manage all accounting entries and financial transactions for the entire fund, including portfolio investments and expenses.
Investment Lifecycle Management:
- Oversee the entire life cycle of funding investments, from initial due diligence through to exit strategies.
- Coordinate and manage capital calls to secure funding for investments.
Tax Compliance:
- Prepare and file taxes.
- Ensure compliance with tax regulations specific to venture capital and web3 investments.
Limited Partner (LP) Distributions:
- Manage and facilitate LP distributions ensuring timely and accurate payments to investors.
- Handle distributions from existing portfolio companies to LPs.
Fund Profit and Loss (P&L):
- Maintain and manage the fund's Profit and Loss statement, tracking revenues, expenses, and overall financial performance.
- Provide regular P&L reports to stakeholders and investors.
Payroll and Benefits:
- Establish payroll systems and benefits programs for employees in different regions, ensuring compliance with local regulations.
- Manage payroll processing, including taxes, deductions, and benefits administration.
Fee Collection and Capital Calls:
- Collect management fees and capital calls from Limited Partners in a timely and organized manner.
- Maintain clear records of fee collection and capital contributions.
Audit Support:
- Provide support during the audit process, ensuring all financial records and transactions are well-documented and in compliance with audit requirements.
- Coordinate with auditors and ensure a smooth audit process.
What youāll need- Preferred Qualifications
- If you are a strategic financial leader with a passion for Web3 and venture capital, and you are ready to take on a multifaceted role in a dynamic industry, we encourage you to apply for this exciting opportunity.Ā
- Proven experience in venture capital, private equity, or investment management. Web3 experience preferred.
- Strong financial acumen and expertise in financial analysis, modeling, and reporting.
- Familiarity with regulatory compliance requirements in Web3 and venture capital sectors.
- Excellent communication and interpersonal skills.
- Ability to work in a fast-paced, dynamic environment.
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