Latest Business Unit Controller at The Coca-Cola Company on 2016
The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands.
POSITION : West Africa Business Unit (WABU) Controller
- As Controller for WABU you will serve as a multi-country Controller for the West Africa Business Unit, based in Lagos, Nigeria, primarily responsible for the end-to-end accounting, taxes and reporting of US and statutory financial statements for a defined set of legal entities covering Nigeria, French West Africa, Mid Africa & Islands and Equatorial Countries, including ‘sign off’ (certification, validation) of the related full set of financial statements (income statement, balance sheet, cash flow, and equity statements).
- In addition, you will be responsible for:
- Leading, engaging and developing a team of seven people, based in Ghana, Ivory Coast and Nigeria,
- Managing routines regarding the identification and mitigation of strategic tax and business risks;
- Establishing processes to ensure sustainable compliance with local tax and country regulations;
- Proactively managing accounting processes and routines across the countries to ensure compliance with US GAAP, IFRS and/or other local accounting regulations as well as Company accounting policies;
- Safeguarding the resources of the Company by enforcing internal controls and Company policies, and continuously improving them to ensure the smooth operations of the business; and
- Partnering with the BU CFO and Region CFOs to ensure the relevant business support is provided by GBS (KO shared services organization).
- In this role you need to have a holistic view of the Coca-Cola business, providing financial advice and strategy to stakeholders considering the Finance ‘triangle model’ (i.e., Corporate, BU/CPS, and GBS), the regulatory environment, cost and value, continuous process improvement to find productivity, standardization and scaling impact, as well as the sustainability of business models and propositions.
- You will be a key leader in the organization, manage people, and provide input to business strategy, capability building, and sustainability of operations.
- You will partner and engage proactively with Senior Leadership, Corporate stakeholders, E&Y, and Corporate and Business Unit (BU) clients, as well as strongly collaborate with GFO and other global peers, Regional Controllers, and LECs to ensure a coordinated approach in managing business deliverables and processes.
Financial Reporting and Analysis (40%):
- Responsible for financial reporting integrity and drafting of Local and US GAAP Financial Statements for assigned legal entities, including related sign off and certification
- Liaise with process teams to ensure all transactions are correctly recorded, including fees & commissions and dividend remittances
- Coordinate the set-up of new legal entities, business models, and supply models as well as drive the implementation of relevant SAP modules to support business operations
- Review and understanding of AICs and SPP in order to ensure that the financial statements are being properly reported in accordance with accounting and business policies
- Monthly review of financial statements and variances, providing narrative and ensuring active follow up as needed
- Quarterly review of profit center allocations and BU Economic Profit calculation and analysis
- Responsible for interacting as needed with other teams such as Accounting Research, Corporate Treasury, Corporate Tax, Controller’s Group, CPS, Equity Investees, and E&Y
- Management of Local and US GAAP E&Y Audit, including planning activities, drafting of financial statements, investment consolidation map, and 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)
- Collaborate with the BU on balance sheet/operating capital forecasting
- Review monthly certain balance sheet account reconciliations
Strategic Business and Tax Planning, Mitigation & Compliance (20%):
- Proactively work with the BU functions to mitigate business, financial, and tax risks as well as support Commercial Finance and Franchise teams in executing business initiatives
- Manage/resolve indirect tax issues (excise, customs) affecting the System
- Review the monthly / periodic VAT, Withholding Tax, Sales Tax, Deferred Tax and Corporation Tax computations as applicable including tax returns and follow up for timely filing with, payment to & reconciliation with Tax Offices
- Manage compliance with transfer pricing regulatory requirements
- Oversight and coordination of payroll-related processes (with the Payroll COE) impacting Tax
- In liaison with the FUFM/BUFD, engage tax advisers and Tax Authorities and coordinate responses to all tax audits and queries within timelines agreed with or demanded by Tax Authorities
- Collaborate with Legal to ensure compliance with local financial-legal requirements and other local/corporate secretarial requirements.
- Monthly review of Tax Account reconciliations including Deferred Taxes
Internal Controls and Compliance (20%):
- Responsible for the maintenance, along with the Controls & Compliance Manager, of an effective internal control environment
- Support the internal audit process (CAD)
- Participate in and support the annual review of SOX narratives related to the Financial Statement and Reporting area
Treasury Support (10%):
- Investments & Dividends – coordination with the Controller’s Group, Corporate Treasury (for financial instruments), and 3rdparty partners to ensure accurate accounting and disclosures in US GAAP and local financial statements and to execute dividend remittances (including withholding taxes) as instructed by Corporate Treasury.
- Pensions – coordination with the Controller’s Group, Corporate Treasury, and as relevant with Towers Watson to ensure accurate accounting and disclosures in US GAAP and local financial statements
People Management and Continuous Improvement (10%):
- Develop, motivate, coach, and inspire team members to be a high-performing team
- For team members, individual career and development opportunities are created, assessed, and realized
- Apply operational excellence/lean tools to make continuous improvements to processes
What You Can Expect
- Being part of a team with Great Spirit and energy.
- Possibility to gain experience in process transition and Operational Excellence processes.
- Competitive benefits package combined with development opportunities.
- Full time employment.
What you need to be Successful
In order to be successful as Business Unit Controller for Coca-Cola, you need to be able to understand the business very well in order to develop resolutions to issues that take care of greater Company interest while obtaining alignment with all stakeholders, which on the other hand requires developed influencing skills.
Effective people leadership, by engaging, developing and supporting your team to be continuously growing to a higher level, planning and routines setting, great collaboration skills, a high level of integrity in everything you do, and a good sense for prioritization and organizing your work will be additional key success factors for you to be able to ensure stakeholder and business unit requirements are met. As occurring issues generally vary on a case by case basis, a high degree of flexibility, agility and out-of-the-box thinking are required in this role.
As you will be working in a global, virtual team, previous cross-cultural exposure paired with the ability to interact across functions and hierarchies, as well as the ability to communicate with confidence while being culturally aware are crucial. If in addition you have a knack for developing new internal control procedures with the aim to match new business models and ensure compliance while avoiding undue complexity, you´re just the one we´re looking for.
Ensuring accounting that complies with US GAAP, IFRS and local GAAP as well as identifying root causes of non-compliance with procedures and policies, and developing actions plans to mitigate and tracking progress will be your daily business. Finally, seek for continuously process improvement, proposing solutions to the problems and always evaluating the root causes of them, in order to create a virtual cycle.
Related Job Requirements/ Qualifications
- 10 to 15 years of experience in the Coca-Cola system or equivalent multinational environment;
- Fluent in English (verbal and writing) and has excellent communication skills;
- Strong knowledge of IFRS and US GAAP;
- Strong SAP and Excel skills.
- Lives Core Company Values (Leadership, Integrity, Accountability, Passion, Quality, Collaboration, Innovation)
- Exhibits Leadership Behaviors (Act Like an Owner, Collaborate with the System, Customers, and Key Stakeholders, Develop Self and Others, Inspire Others, Drive Innovation)
Other General Competencies:
- Understanding Coca-Cola Business and Reporting Structure
- Influencing Others
- Virtual Teams
- Core Service Excellence
- Planning & Organizing
- Tolerating Stress
- Problem Solving
- Decision Making
- Analytical Thinking
- Technical Accounting
- Financial Policies/Procedures
- Use of Company Financial Systems
- Accounting Standards, Tax Rules
- Drive Innovation
- Collaborate with System, Customers and Key Stakeholders
- Act Like an Owner
- Inspire Others
- Develop Self and Others