Senior Manager, US GAAP, IFRS, LEC, SOX, R2R
Reports to: Vice-president
Department/ Division : Corporate Finance CoE, Bangalore
Basic Purpose of Job::
- The Intercompany lead will be responsible for Close activities across various geographies and legal entities and day-to-day management of team that provide support to Global Accounting Controllers and Finance Controllers group.
- In addition to Business As Usual (BAU) responsibilities as described below, this role will lead the process re-engineering, standardization, and automation efforts.
Business As Usual (BAU) Activities:
- Working in close collaboration with the teams in location and Hubs, coordinate the Close process for various geographies across different time zones and teams, taking into account the local regulatory and organizational needs
- Assist the teams in locations and Hubs to manage the monthly consolidation process aggregating legal entity transactions into top of the house financials. This includes managing local legal entity financials, consolidation systems, eliminating intercompany transactions, equity and minority interest pick up, foreign exchange calculations and accounting adjustments (e.g. IFRS to US GAAP)
- Ensure the Overall IC breaks are monitored and cleared before the close.
- Support the monthly and quarterly SOX & REG-W and other certification processes
- Ensure execution of appropriate controls supported by documented policies and procedures across the relevant groups
- Provide timely data, reporting and needed analytics to senior management and other key stakeholders
- Support regulatory requests and associated regulatory reporting
- Inculcate a culture within the CoE of ongoing self-assessment to continuously better the effectiveness and the efficiency of the Close process
- Ensure significant attention to Risk Excellence to ensure compliance with internal policies and regulatory standards during the monthly Close process
- Develop and maintain a high performing CoE team that is highly motivated to effectively deliver on the business as usual activities and support the transformation efforts
- Assist in defining a strategic end-state that not only significantly improves the speed of the current Close process, but also enhances control and governance mechanism, increases transparency and reliability of data, is nimble enough to timely react to changes in the regulatory standards, is efficient and effective in its use of resources across locations and is well supported by a technology platform (“best in class”)
- Assist in evaluation of the current Close process for various geographies and legal entities including the underlying activities, policies, infrastructure, and control and governance mechanisms to assess areas of improvement and transformation
- Develop an implementation plan to execute on the strategic vision and partner with key internal technology resources and external vendors to ensure the “best in class” process is well supported by a comprehensive technology solution
- Develop reporting framework to provide periodic updates to senior management on the status of the transformation efforts and escalate issues, as needed
- Support development of a change management process to ensure changes to accounting standards and internal processes are reflected timely in the Close process
- Support identification and implementation of appropriate controls including the four-eyes review to ensure accuracy of financials
Education and Experience:
- Master’s Degree in Accounting, Chartered Accountant (CA) or Certified Public Accountant (CPA)/MBA-Finance with 10-12 years of progressive experience in the Close and Consolidation process with a large financial services firm or advisory/consulting firm
- Extensive experience and knowledge of US GAAP close and step-consolidations, IFRS required, experience with other accounting standards (German, etc.) a plus.
- Detailed understanding of the end-to-end company-wide Close, Consolidation and GL Maintenance process.
- Demonstrated leadership in build-out of the Close and Consolidation process for multiple geographies and business.
- Understanding of international regulatory landscape, experience with statutory accounting/reporting groups across several major international geographies
- Experience of building and maintaining strong control environment (risk excellence, experience with SOX, RCSA controls, etc.), establishing policies, procedures and strong internal controls
- Extensive experience of managing teams performing day-to-day accounting operations, month-end and quarter-end activities for the above areas of accounting
- Experience of leading re-engineering of R2R (record-to-report) processes and driving similar centralization of the end-to-end activities for the major financial institutions
- Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)
- Knowledge of Hyperion Essbase, Oracle Financials
- Knowledge of Spotfire, Tableau, Cognos data analytics and visualization (or similar) a plus
- Conceptual understanding of company-wide financial architecture (GL, sub-GL technology, specialized tools) applicable to the above process groups of processes
- Senior-level communication skills, presentation skills, prior experience of interacting with multiple stakeholders (Legal Entity and Geography controllers) in NA, EMEA, APAC.
- First or second level management expertise required
- Independent decision-making capabilities, demonstrated thought leadership
- Pride of ownership with the ability to deliver high quality results timely
- Self-motivated, self-assured, and self-managed
- Strong analytical and ability to analyze and summarize complex financial transactions
- Strong attention to details
- Problem solving skill
- Highly organized with ability to multi-task and work under high pressure deadlines
- Must be able to work in a fast paced environment