Job #1292: Director of Accounting & Royalties - New York, NY (10-30-19)
Job TitleDirector of Accounting and Reporting
Salary$120,000 - $140,000
The Director, Accounting & Royalties oversees the full process of the financial close and well as the Royalty statements. This role also is the lead person for the divisional audits (external quarterly/annually audits (reviews) and SOX audit).
- Close process (monthly/quarterly/annually).
- Review, approve, and post all Sales and Cash postings by Accounts Receivable.
- Review, approve and post all journal entries (prepaids, accruals, revenue, reclasses, inventory, one-time entries, etc.) completed by staff.
- Prepare revenue, associated royalty expense, reserve, payroll (incl allocation to OTT) entries.
- Analyze and record (un)recoupment and impairments of Licensors’ advances/receivables on a quarterly basis.
- Review and approve all bank and account reconciliations prepared by staff, while ensuring proper balances and providing reclassifications or clarifications.
- Act as liaison to FP&A on any inquires regarding current activity.
- Review and approve monthly 1042 deposits for foreign withholding taxes as well as annual tax filing with IRS.
- Mentor and train staff (account and AR) on accounting, processes, SOX compliance and regulations.
- Lead person on divisional quarterly/annual external audit as well as annual SOX audit.
- Prepare and review narratives for Revenue, AR, and Royalties procedures.
- Prepare 10Q/10K disclosures related to impairments, top customers analysis for Corporate.
- Run monthly reporting for Royalties department (sales and expenses) for statement processing.
- Manage the Due to Distributed accounts to ensure proper accounting and reconcile to statements.
- Review all statements (Royalty, Distributed, OTT, & Theatrical – approx. 900 (monthly statements) 1200+ (quarterly statements).
- Identify, implement, and train on process changes that allows for streamlining the preparation of statements that have been outdated or redundant. Including creating a uniform template to ensure training, preparation, and review process is streamlined to effectively utilize the staff resources. Setting a new structure of deadlines for senior managements’ review and allowing sufficient time for delivery and payment processing.
- Mentor and direct Managers and staff on interpreting reporting requirements (rates, reserves, cross collateralization, terms, etc.) as agreements states, while working with Legal to ensure financial interpretations are accurate.
- Run and gather OTT channels royalty reportings (AVOD, SVOD, Costs, Amazon, and any additional direct consumer for ConTV, Dove, Docurama, & Viewster) from Filemaker Pro for team to prepare quarterly statements.
- Communicate and assist Corporate and Executive Management on payment deliveries, along with communicating with the team on how to handle Licensors requests.
- Approve payment requests created by the team are accurate, including but not limited to, payee, amounts, tax withholdings, form of payment.
- Train staff and managers on how to prepare & review statements for accuracy from source data files and ensuring accuracy (both at a detailed level as well as a high level)
Other / Reporting:
- Financial liaison for CEG division for the entire organization.
- Directly work with Universal (our direct distributor of physical product) on reporting, accounting, process and any financially impacted issues.
- Be a team member of system implementations that have a financial impact or financial function (e.g. Concur expense module, Rightline – all financial requirements, including proposing proper process and user flow).
- Divisional lead on any GAAP procedural changes (i.e. Revenue Recognition) and ensure the new requirements are met and accounted for.
- Provide semi-monthly documentations (Receivables and Payables) for current Borrowing Base with the bank and answer any internal inquiries that arise.
- Provide Ad-hoc requests from Corporate for Tax and/or audit purposes.
- B.S. degree in Accounting, CPA a plus
- Royalty processing and reporting including interpretation of Licensors contracts
- Advanced Excel skills (i.e. complex formulas, macros, V and H lookups, pivot tables, and the utilization of various combinations)
- Excellent communication skills across the organization as well as external parties
- Excellent organizational skills, attention to detail, and able to prioritize and meet deadlines
- Ability to multitask in a fast-paced work environment with fluctuating priorities
- Ability to manage both upwards and downwards
- 7-10 years in Accounting, 5-8 years in Royalties both in supervisory/managerial role
Interested candidates should e-mail resume to Chris Panagiotakos at firstname.lastname@example.org. Please mention that you are a member of EisnerAmper's Friends of the Firm program. Make sure to include Job #1291 in the subject line and to copy Nkrumah Pierre and Isabella Brilliant at email@example.com on your email.