Reporting to the COO, Chief Operating Officer the Director of Accounting will be responsible for directing and managing the USA and CANADA Accounting, Account Receivable and Accounts Payable operations based in New York.
The Director of Accounting will manage accounting records, manage month-end closing process and reconciliation of balance sheet to ensure all postings and financial performances are accurately always represented, manage internal & external audit process, develop best-in-class accounting practices, produce financial reports, set timelines, provide variance analysis of financial statements to last projection and last year results, and various ad hoc projects.
Director of Accounting is responsible for building a strong sustainable Accounting Team to ensure all accounting tasks are done on a timely and accurate manner.
The Director of Accounting is responsible the A/P team to ensure all invoices are processed and paid on a timely manner. Director of Accounting is responsible for the A/R Team to improve DSO and minimize chargebacks & bad debts. In addition, they will work closely with the Financial Planning and Analysis Department, whose main responsibilities are building annual budgets, quarterly forecasts, financial analysis & reporting and business supports.
The Director of Accounting will develop strong stakeholder relationships with internal holders and Group HQ in Germany. You will work with NCSA finance colleagues in Mexico & Canada to share best practices, develop and support team training and collaboration to strive being a best-in-class regional function. You will look for opportunities to drive efficiencies and improve productivity within the department with people, processes and systems.
Responsibilities include, but not limited to the following:
- Build and develop strong Accounting, A/R, A/P Teams to ensure our accounting responsibilities are handled in an accurate and timely manner and to better support our business teams. Responsible for training and improving quality of performance for Accounting, A/R and A/P Teams. Responsible for training Accounting Teams to be good business partners. Responsible for efficient and accuracy system optimization for all Accounting Operations tasks.
- Ensure accounting responsibilities are clearly assigned with ownership to each team member and ensure each team member perform their assigned tasks on an accurate and timely manner.
- Ensure Workpapers for every Balance Sheet Accounts are prepared accurately monthly in excel with one workpaper per balance sheet g/l. Responsible for monthly Workpapers by G/L reporting to SVP.
- Ensure all balance sheet accounts are analyzed and reconciled monthly and ensure there are no hidden risks in our balance sheet accounts.
- Ensure balance sheet clearing are done on an accurate and timely manner.
- Ensure Lease Accounting responsibilities (reconciliations & reporting) and rent payments are done in an accurate and timely manner (i.e., monthly reconciliation of landlord statements). Proactive and timely resolution of rent discrepancies with landlords as well as with Legal and Real Estate teams. Timely support to Real Estate and Legal Teams with rent related information, reporting and analysis.
- Ensure invoices are processed and paid by A/P Team in an accurate and timely manner (pay before due dates, avoid duplicate payments). Review A/P Aging reports, status of A/P Mailbox / invoices to park / invoices out for coding and approval to ensure all invoices are processed and paid on a timely manner. Responsible to develop efficient system optimization for A/P process.
- Manage A/P team to minimize chargebacks, bad debts and improve DSO.
- Collaborate with key business partners to develop scalable reconciliation system(s) and process that will provide complete, timely, and accurate reporting of all revenue and related transactions.
- Develop and maintain strong and collaborative working relationships with key business leaders to ensure ongoing and constant communication in understanding business updates and to provide revenue recognition compliant solutions for new initiatives.
- Develop key policies and/guidelines around existing and future processes that will allow for transparency, efficiency, and scalability with a focus on controls.
- Partner with key business leaders to develop various controls around data management, systems, and reporting requirements.
- Lead, grow, and develop existing team to support Accounting specific requirements as well as the overall strategic initiatives of the company.
- Liaise with internal and external auditors to manage various audit requirements.
- Manage all accounting operations responsibilities.
- Manage month-end close process including variance analysis of expenses and gross margin reconciliation and ensure timely closing as well as accurate postings.
- Manage Accounting team during close process to ensure proper accruals are made.
- Manage Accounting team to ensure all balance sheet g/ls are full reconciled and backed up with work-papers to ensure there are no hidden risks in the balance sheet.
- Develop best in class accounting practices to ensure prepaid and accruals are correctly done on a timely manner.
- Manage all AR responsibilities and relates analysis to target to improve DSO. i.e., summarizing and analyzing Sales Allowances as they compare to last forecast and last year.
- Manage all AP responsibilities to ensure timing and accurate posting of all invoices as well as develop efficient control process to avoid duplicate payments.
- Build and deliver month end narrative to executive management on month/quarter, year to date results.
- Assist FP&A Dept in preparing annual budget and quarterly forecasts, based on variance analysis results for the month and quarter end closes.
Your profile
- B.S. Degree in Finance / Accounting
- Minimum of 10 years progressive financial and accounting experience
- Minimum of 4 years leading revenue teams and dealing with various revenue systems
- Experience with and strong understanding of US GAAP preferred
- Ideally have experience in an ERP/ Accounting system implementation (we are moving from SAP AFS to S4 Hanna)
- Highly positive and collaborative individual that excels at developing working relationships, building consensus and fostering trust and collaboration at all levels
- Demonstrated ability to lead, develop and grow existing team as well as work to develop/maintain strong cross-functional relationships
- Minimum of 5 years of Management experience
- Excellent verbal and written communication skills
- Excellent attention to detail
- Retail Apparel experience a plus
- CPA license preferred
- SAP experience preferred
