Vacancy for CA in COCA COLA - India

DESCRIPTION & REQUIREMENTS:
Position Overview:

The last date for applications is 13th February 2013.

The Business Unit Controller has overall responsibility for the end to end accounting and reporting for US and local statutory financial statements for a defined set of legal entities, including ‘sign off’ (certification, validation) of the related full set of financial statements (income statement, balance sheet, cash flow and
equity statements) and, in addition, is responsible for the identification and mitigation of strategic tax risks; establishing processes to ensure sustainable compliance with local tax regulations;  proactively managing accounting processes and routines at the relevant Business Units to ensure compliance with US GAAP, IFRS and / or other local accounting regulations as well as company accounting policies; and safeguarding the resources of the company by enforcing internal controls & company policies,  and continuously improving them to ensure smooth operations of the business.

The business unit controller will act as a strong business partner and will be in contact with BU Finance Director on a regular basis.

This position will be responsible for companies with a broad scope (profit centres, volume, complexity of business models or materiality to TCCC results).


KEYDUTIES/RESPONSIBILITIES:

1)      Financial Reporting and Analysis (65%):

• Responsible for financial reporting integrity and preparation of Local and US GAAP Financial Statements, where relevant, with 3rd Party service providers; for 10-15 legal entities, including related sign off and certification


• Liaise with Process teams to ensure all transactions are correctly recorded, including fees & commissions and proper dividend remittances


• Coordinate the set-up of new Accounting entities and business models, brands, supply models


• Responsible for interacting as needed with other areas, as such Accounting Research, Corporate Treasury, Corporate Tax, Controller’s Group and E&Y


• Review of AICs, SPPs, etc that impact KO business, in order to ensure that the financial statements are being properly reported


• Monthly review of financial statements and variances, providing narrative and ensuring active follow up as needed


• Quarterly review of profit center allocation and BU Economic Profit calculation and analysis


• Management of Local and US GAAP E&Y Audit, in regards to planning activities, preparation of financial statements, investment consolidation map, diagnosis update on new regulations


• Financial review of contracts with BU partners and FAS 133 Contract review with Accounting Research for contracts higher than USD 2 million


• As relevant, BOFC Forms Review (e.g., Legal Reserves, Related Party Transactions, Impairment Survey, etc.)


• Coordination of the BU Representation Letter (SEC Letter)

     

2)      Internal Controls and Compliance(35%):

Responsible for the maintenance, along with the Controls & Compliance Manager, of an

• effective control environment.


• Support internal audit process (CAD).


• Coordinate annual review of SOX narratives related to the Financial Statement and Reporting area

Apply operational excellence/lean tools to make continuous improvements to processes.

FINANCIAL/ JOB SCOPE:

• 10 – 15 legal entities


• US and statutory accounting/reporting/taxes


• 200+ balance sheet reconciliations


• Gross Revenue $450 million, DFR spend $80 million, DME spend $100 million, 20+ profit centres, Volume Reporting


• Provide support and accounting guidance for projects, acquisitions, mergers and sales

 ORGANIZATION IMPACT/ INFLUENCE

• All finance team members  providing services for related legal entities


• Controls & Compliance team


• Corporate Audit,  Accounting Research, Controllers Group, M&A, Corporate Tax, Corporate Treasury


• CPS Plants, Finance and Supply Chain


• BU Finance Directors, Legal


• Commercial Finance


• E&Y or other local audit and tax compliance partners


• Third Party suppliers for statutory accounting/reporting/taxes


• Local tax authorities and auditors

SUPERVISORY RESPONSIBILITIES:
4 direct reports, 16 total team
Responsible for setting objectives and conducting performance reviews
Involved in decision on hiring of team members
Responsibility for training and development of team members

RELATED JOB REQUIREMENTS/ QUALIFICATIONS:

• Minimum 7-8 years’ experience, with at least 5 years Finance/Accounting experience in the Coca-Cola system or multinational environment;


• Fluent in English (verbal and writing);


• Strong knowledge of local Accounting standards and US GAAP;


• Excellent Communication skills;


• Strong SAP and Excel skills.


• Core Company Values


• Core Company Competencies:
  
  
  
  • Delivers Results
  
  
  • Drive Innovative Business Impact


• 
  
  
  
  • Balance Immediate & Long Term Priorities
  
  
  • Import/Export Good ideas
  
  
  • Develop & Inspire Others


• 
  
  
  
  • Other General Competencies
    
    
    
    • Understanding KO Business
    
    
    • Influencing Others
    
    
    • Planning & Organizing
    
    
    • Tolerating Stress
    
    
    • Problem Solving
    
    
    • Decision Making
    
    
    • Analytical Thinking
  
  
  • Skills/Knowledge
    
    
    
    • Technical Accounting
    
    
    • Financial Policies/Procedures
    
    
    • Use Company Financial Systems
    
    
    • Consolidation & Reconciliation

EDUCATIONAL REQUIREMENTS:


Accounting qualification from a recognised Accounting body (Chartered Accountant, ACCA, CIMA, CPA).

CULTURAL DIVERSITY:

Due to working with different countries/cultures/languages employee has to be open minded;  Multicultural skills are required.

ANALYSIS:

• Gain a thorough understanding of Business Unit and Legal Entity activities, analyse information and ensure accounting conclusions meet control and accounting standards;


• Accounting for unusual transactions, including closure of Legal Entities;


• Leverage the capability of SAP to suggest process improvements;


• Prepare analysis for Internal Review of Income Statement and Balance Sheet prior to release, and for use by Corporate and External Audit;


• Analyse in detail balance sheet and income statement to provide input for Corporate Tax requirements;


• Analyse balance sheet and income statement monthly and prepare narratives;


• Identifying root causes of non-compliance with procedures and policies, developing actions plans to mitigate and tracking progress;


• Understanding queries coming from tax authorities, developing responses that consider greater company interest and obtaining alignment of all stakeholders (Legal, Corporate Tax etc.);


• Developing new internal control procedures to match new business models and ensuring compliance with Tax, Legal, accounting regulations while avoiding undue complexity;


• Processes are well defined but there is complexity in dealing and solving problems in a way that satisfies all stakeholders – also, the problems generally vary on a case by case basis;


• The role involves a blend of analytical and strategic activities (in taxes, accounting and payroll), and process and governance-oriented administrative tasks (i.e. controllership responsibilities).  Sound judgment is required when formulating a point of view based on recommendations from internal and external advisors.  Effective, concise (yet comprehensive) communication is crucial.

JUDGEMENT AND DECISION MAKING:

• Review and approve monthly legal entity financial statements;


• Review and approve local statutory legal entity books and related tax declarations;


• Propose accounting/reporting/tax implications for new business models, acquisitions, disposals, etc


• Approval of balance sheet reconciliations and follow up where required;


• Full accountability for ensuring that the BU processes are compliant to company rules and all legal entities under area of responsibility are compliant to tax rules and US GAAP;


• Ensure Stakeholder / business unit requirements are met through effective management routines / processes / planning, partnering, prioritization and organizing;


• Ensure escalation / communication of key issues / opportunities including Tax risks, Balance Sheet and Cash Flow risks and opportunities – including recommendations for resolution

WORKING CONDITIONS:

• This position operates primarily in an office environment;


• The spread of activities and operations is business divergent and presents a moderate level of complexity;


• There is increasing pressure and scrutiny on business with tax authorities continually trying to extract more revenues via tax penalties;


• Vulnerable and complex business models with potential exposure to unethical practices.

TRAVEL REQUIREMENTS:
5 - 25%

ADDITIONAL INFORMATION:

1)      Values Statement

• Honesty and integrity have always been cornerstone values of The Coca-Cola Company. Our passion for people of integrity mirrors our spirited drive for total quality in our brands. These and other elements allow the company to sustain strategic practices and drive business performance.

2)      Sell Message

• At The Coca-Cola Company you can cultivate your career in a challenging and dynamic environment. We are the largest manufacturer and distributor of non-alcoholic drinks in the world, selling more than 1 billion drinks a day. Unlock your full potential with a future-focused company that is known and respected throughout the world.

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