Job Description Summary
The Manager of Accounting and Consolidations is responsible for managing and overseeing the financial consolidation process and the preparation of monthly, quarterly, and annual US GAAP-based financial statements for Lamb Weston and its subsidiaries. This role requires sound knowledge of U.S. Generally Accepted Accounting Principles (GAAP); general accounting and ledger maintenance; facilitating the reporting of monthly results to the external reporting team; managing relationships with Lamb Weston subsidiary and joint venture financial groups; providing guidance, direction and support to business units; implementing new accounting standards; creating/reviewing/uploading journal entries; maintaining/updating monthly accounting schedules, assisting with and/or preparing and reviewing balance sheet account reconciliations, and assisting with the preparation of audit schedules and other special projects including assistance with mergers and acquisitions. Additionally, this position will ensure proper procedures and controls are in place and ensure corporate compliance with the Sarbanes-Oxley Act, including Section 404 certifications. This position also helps with the preparation of quarterly and annual filings with the Securities and Exchange Commission (SEC). The manager of accounting and consolidations must have a broad understanding of accounting and reporting requirements and the practices employed by the company and be able to effectively communicate such information to company management and subsidiary employees.Job Description
- Manages and oversees the monthly internal reporting cycle, including: review of monthly journal entries and monthly financial results for accuracy; preparation and review of monthly consolidated financial statement package in accordance with generally accepted accounting principles; ensures consolidation of financial results are prepared accurately and on a timely basis; prepares a variety of monthly, quarterly and annual financial reports for internal use; reviews monthly submissions for accuracy and completeness; and identifies resolution of unusual items and issues in a timely and accurate manner.
- Sets direction, manages work and serves as key contact on cross-business accounting projects and initiatives. Actively evaluates and refines accounting and reporting processes across Lamb Weston’s subsidiaries.
- Responsible for proper review of intercompany transaction and account activity to ensure proper elimination and presentation in consolidated and standalone financial statements.
- Ensures corporate entities’ financial information is accurate. Maintain ownership of the corporate balance sheet including variance analysis and monthly forecasting.
- Maintains and updates financial reports and analysis of various business issues and scenarios.
- Implements and monitors accounting processes to verify that proper procedures and controls are in place and ensures corporate compliance with Sarbanes-Oxley Act, section 404; assists with evaluating effectiveness of processes, procedures, and control environment and develop improvements, as needed.
- Supervise, direct, coach, and manage the Corporate Accounting Team
- Create and maintain monthly accounting schedules as support for the balance sheet account reconciliations for the purposes of financial audits (whether requested by external service provider, internal audit or the external auditor).
- Review balance sheet account reconciliations and provide feedback to preparers on balance sheet reconciliation standards and expectations.
- Oversee general accounting activities in the SAP general ledger, which includes running reports, performing variance analysis, and reviewing journal entries.
- Exercise judgment in financial, operational, or transactional analysis to identify and help resolve issues.
- Ensure processes are documented (e.g. desk procedures) and manage process improvements.
- Effectively communicate information impacting various groups within the organization (tax, legal, HR, business units, etc.).
- Demonstrate ability to effectively work in a team environment both within and outside of assigned area of responsibility.
- Participate in special projects involving general accounting, such as FASB updates, business partner requests, and systems conversions.
- Create career development plans and support growth opportunities within the company for staff members.
- Bachelor’s degree in accounting, finance or related field required. Advanced accounting or finance degree, certified public accountant, and/or public accounting experience preferred.
- 5+ years of business experience in public accounting and/or corporate accounting, including three years supervisory/management responsibilities.
- General knowledge of US Generally Accepted Accounting Principles.
- Excellent analytical, problem-solving, and decision-making skills.
- Excellent oral and written communication skills, including presentation skills.
- Proven experience with managing and leading a team and/or corporate projects
- Proven ability to multi-task and strong project management skills
- Ability to research and reconcile multiple accounts with minimal supervision
- Proficient PC skills with SAP financials experience preferred
- Proficient skills with Microsoft Office Products