Position Overview:As Legal Entity Controller you will be responsible for managing accounting and tax compliance of the legal entities in Southern Africa (3 countries, 4 legal entities) and working as the key local GFO business partner with the SEABU Leadership to proactively identify and mitigate strategic and transactional accounting and tax risks.
Additionally, you will be overseeing compliance with US GAAP, IFRS and/or other local accounting regulations as well as Company accounting policies and be safeguarding the resources of the Company by ensuring compliance with Statutory requirements (no fines/penalties), enforcing internal controls and Company policies, and continuously improving them to ensure smooth operations of the business.
In this role you will have people management responsibility for 3 Tax/Accounting Analysts based in Johannesburg and potentially additional resources during statutory audit periods.
Due to the geographical scope of this role you will be required to travel approximately 10% of your time, mainly requiring overnight stays.
Function Specific Activities:
Accounting and Reporting
- Manage non-financial reporting to headquarters in Atlanta, including impairment surveys, third party guarantee reports, legal reserves, payments to government officials, etc.
- Review monthly computation of service fees.
- Prepare monthly legal entity Profit and Loss´ (P&Ls) and narratives and quarterly legal entity balance sheets and narratives.
- Co-ordinate the completion, review and sign-off of the Annual Financial Statements with Regional Controller, BU Finance Director, Planning and Analysis Manager and external auditors.
- Organize a legal entity board meeting with input from BU Finance Director and BU Legal Director including the preparation of board packs and accompanying PowerPoint presentations.
- Ensure items highlighted at monthly Balance Sheet Risk and Opportunities meetings are addressed and acted upon within agreed timelines.
- Responsible for interacting as needed with other areas, i.e. Accounting Research, Corporate Treasury, Corporate Tax, Controllers Group, etc.
- Review Accountant in Charge Memoranda (AICs), Standard Practices and Procedures (SPPs), etc. that impact Coca-Cola business to ensure that the financial statements are being properly reported.
Tax Planning, Mitigation and Compliance
- Proactively work with the BU functions to mitigate all tax risks and support Commercial Finance and Franchise teams in resolving indirect tax issues (excise, customs, VAT, income and PAYE) affecting the system.
- Review significant contracts, agreements and business processes for compliance and tax efficiency.
- Maintain tax tracker and engage the BU and Atlanta corporate tax department on all tax issues arising and progress in resolving them.
- Review of the monthly VAT, deferred tax and corporation tax computations and related journal vouchers for posting into the ledger and prepare/review monthly tax returns and follow up for timely filing with, payment to and reconciliation with Self-Assessment Returns (SARS).
- Approval of monthly/quarterly general ledger (GL) tax account reconciliations.
- In liaison with Regional Controller, engage senior tax counsel, external 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 and Company secretarial service providers to ensure compliance with Companies' Act and other local/secretarial requirements.
- Monthly/periodic review of tax authorities´ statement of accounts for all taxes to ensure payments are correctly allocated and receipt of refunds are confirmed by treasury.
- Proactively manage work assigned to external advisor to ensure that agreed timelines are met and quality standards are adhered to within the approved budget.
Operational Control and Compliance
- Coordinate the quarterly Securities Exchange Commission (SEC) certification process with BU Finance Director, RC, BU Legal and BU President and follow-up with Group and Corporate.
- Work with BU Finance to ensure proper documentation, communication and implementation of all relevant Company policies and procedures.
- Support internal and external audit process conducted by the Corporate Audit Department.
- Global Finance Operations (GFO) Regional Controller - Supervision, allocation of work and problem solving.
- Senior Tax Counsel / Accounting Research Manager / Treasury Services Managers - Problem solving and exchange of information.
- General Ledger Manager / Disbursements Manager / Treasury Supervisor / Accounts Payable Manager - Liaison, exchange of information.
- BU President - SEC Letter process
- Finance Management - Strategic partnerships, problem solving, Service-Level Agreements (SLAs).
- BU operations (Legal, HR, Operations, etc.) - Problem solving and multi-functional projects.
- Suppliers / Tax Advisers / Auditors / Tax officials - Exchange of information.
- Bottling Investment Group (BIG) Equity Investment contacts and Equity Investees Finance Managers - Exchange of information.
- Controls and Compliance Manager - Liaison, exchange of information.
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
To be successful as Legal Entity Controller for Coca-Cola, you need to be able to understand the business very well 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 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.
- University Degree preferably in Finance, Accounting or related and registered qualified professional Accountant (CA, CPA, ACCA, CIMA, or equivalent).
- 5-10 years' experience in applied Accounting, preferably gained in a multinational environment (Big 4 or FMCG Multinational).
- Tax Planning and Compliance.
- Strategic Financial Consulting.
- Risk Management, Internal Controls (e.g. SOX, Segregation of Duties, etc.) and Auditing.
- US GAAP, IFRS and local GAAP.
- Advanced SAP and Excel skills.
- Treasury appreciation.
- Analytical skills.
- Systems thinking.
Years of Experience:
- GROWTH MINDSET: Demonstrates curiosity. Welcomes failure as a learning opportunity.
- SMART RISK: Makes bold decisions/recommendations.
- EXTERNALLY FOCUSED: Understands the upstream and downstream implications of his/her work. Tracks and shares external trends, best practices or ideas.
- PERFORMANCE DRIVEN AND ACCOUNTABLE: Has high performance standards. Outperforms her/his peers.
- FAST/AGILE: Removes barriers to move faster. Experiments and adapts. Thrives under pressure and fast pace.
- EMPOWERED: Brings solutions instead of problems. Challenges the status quo. Has the courage to take an unpopular stance.