The Controller is responsible for providing the centralized corporate accounting resource, positioning the department to be recognized as the authority on all accounting issues, and creating long-term value for the company. This position is responsible for directing all international and domestic accounting compliance and planning activities for the company, advising users of the accounting implications of business objectives, and recommending alternate courses of action. This position assumes ownership of and responsibility for in-depth accounting research and strategy development which initiate, develop, and implement programs to best address the company’s worldwide accounting and fiscal reporting compliance. In all of these efforts, the Controller is responsible for developing and leading a team of accounting and related professional staff.
The Controller oversees the external financial statement audit function, as well as, preparation of fair and accurate financial statements, both CFA Institute Consolidated and the Research Foundation, dually reported in accordance with both US GAAP and IFRS. The position also provides oversight of various functions including reconciliations (both cash and balance sheet accounts), accounts receivable, inventory sales and cost accounting, fixed asset accounting and reporting, general ledger and system security. This position oversees the continued improvement of financial reporting, including enhancing balance sheet classifications methodology and system generated error proofing, which improves quality and reduces financial statement risk.
The position will be headquartered in Charlottesville, Virginia, USA and will be supported by the Chief Financial Officer.
Job Description:
ESSENTIAL FUNCTIONS
This position is required to handle highly confidential matters and materials with discretion. The responsibilities of this position include, but are not limited, to:
Oversee the Financial Operations department’s accounting related activities, workloads and priorities
Ensure the organization, Board, Leadership Team, and all external and internal users of financial data receive accurate financial information in a timely fashion
Monitor workflows, reconciliations, reports and other output to ensure that goals and deadlines are met
Partner with the Tax, Treasury, and Global Planning departments as the recognized resource and respected authority on all global accounting issues, creating long term value to the company
Direct all international and domestic accounting compliance and planning activities for the company
Advise users of the accounting implications of business objectives, identify and recommend alternate courses of action to comply with accounting regulations
Identify when accounting research is required and clearly and concisely scope the research objective and time frames. Outsource complex issues to be researched by engagement team
Responsible for the development of efficient research process and methodology
Collaborate with the Tax Director on the in-depth tax research and strategy development to initiate, develop and implement programs which reduce the company’s worldwide tax liability as well as documentation of the research in well prepared supporting technical memos
In conjunction with the Global Tax Director develop, assess, and implement global tax planning projects, including transfer pricing projects, to maximize results and support business objectives including
Oversee the continual evaluation and updating of the company’s nexus and permanent establishment positions, domestically and internationally
Present complex solutions to management, clearly and concisely, empowering management with actionable intelligence and solutions
Responsible for delegating indirect tax and risk mitigation strategies
Minimize CFA Institute exposure and risk
Ensure systems are appropriately calculating and reporting tax information to Financial Operations
Review and approve all income, sales and use, GST, VAT, personal property, and unclaimed property returns
Provide leadership in accounting system development including the oversight of implementations, conversions and upgrades to accounting system and company order entry/CRM systems
Ensure appropriate testing occurs, data integrity and history are maintained, with minimal interruption to services, work efficiencies, etc.
Eliminate unnecessary systems and modules and simplify other areas where appropriate
Ensure the development, maintenance and compliance with internal accounting controls, policies, and procedures
Determine that an appropriate segregation of duties is maintained
Oversee the preliminary and annual financial statement audits
Plan the timing and processes to ensure efficient, organized audits, and to ensure the issuance of an unqualified audit opinion and minimal management letter comments from external auditors
Verify the accuracy of the consolidated statements, footnotes, and Management’s Discussion and Analysis in the annual report
Implement process and system improvements to increase company and department efficiencies and generate cost savings
Evaluate new technologies as they become available for potential application to CFA Institute
Responsible for the development of quality control including a top down and bottom up monthly review process, comprehensive reconciliation management, high level variance analysis, comprehensive documentation of all procedures and processes with formal change control and policy alignment and real time user access to transactional reports
Oversee the development of system generated, consolidating financial statements
Develop system-generated, monthly statements, both in US GAAP and IFRS, with proper balance sheet classifications, elimination columns, comparative columns and system error checks
Develop and document codified dual accounting policies, both US GAAP and IFRS
Manage the Global Finance and Accounting function which oversees the global financial reporting process, works as a cross-functional business partner with other leaders within CFA Institute, leads the IFRS implementation effort and researches complex accounting issues.
Implement global best practice policies which are aligned with the policy positions supported by the Standards and Financial Market Integrity group of CFA Institute
Oversee the development of IFRS policies and procedures, its implementation and continued maintenance
Responsible for enhancement and maintenance of XBRL reporting and its promotion to the next level, including dual reporting (US GAAP and IFRS), footnote tagging, fully defined taxonomy with codification and an automated process utilizing same source financial reporting spreadsheet
Other duties and assignments as directed by the MD, Risk Management, CFO, CEO or BOG member
Responsible for research and presenting best in class governance practices for the Audit and Risk committee
QUALIFICATIONS
EDUCATION / EXPERIENCE
Master’s degree in accounting, finance, or a related field
At least 12-15 years of professional experience required, much of which should be focused in the areas of controlling, accounting, and/or financial auditing
CPA required
Domestic and international tax knowledge and experience required
Knowledge of US GAAP, IFRS, and XBRL reporting standards
Completion of CFA Institute Investment Foundations program is preferred; persons not holding the designation will be encouraged to attain it during the first year in the position
Demonstrated leadership and management experience
Excellent communication skills including written, verbal, listening, and presentation
Global cultural orientation and working experience
Outstanding judgment and mature business skills with the ability to establish a strong rapport with senior management
Proficient using standard office software such as Word, PowerPoint, Excel, Outlook
Knowledge of Great Plains software helpful, not required
Excellent interpersonal skills including a professional and diplomatic demeanor
Ability to create new and unique ideas and an entrepreneurial spirit a plus
PHYSICAL REQUIREMENTS
Full time in the office
TRAVEL REQUIREMENTS
Some global travel may be required; approximately 10-15 percent of the time
CULTURAL ELEMENTS AND GLOBAL COMPETENCIES
Global Perspective – Understands business on a global scale, understands differences in people and cultures, and is effective across varied conditions.
Agility– Responds quickly to opportunities, is flexible, and effectively embraces change.
Effective Communication– Communicates clearly and succinctly in a variety of settings and styles, listens, and presents a professional image.
Stakeholder Focus– Identifies and understands stakeholders and their needs, acts with their interest in mind, and gains their trust and engagement.
Strategic Vision - Recognizes trends and opportunities, acts accordingly, and thinks critically which translates into a compelling and inspiring vision.
Manages and Motivates Others – Ability to set clear accountabilities for others and energise and enable them to deliver results.
Organizational Awareness – Understands how the organization works and knows how to get things done both through formal channels and the informal network; understands the culture of the organization.
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