Manager, Financial Accounting in Pittsburgh, PA at Arconic

Date Posted: 7/30/2019

Job Snapshot

  • Employee Type:
    Full-Time
  • Job Type:
  • Experience:
    At least 3 year(s)
  • Date Posted:
    7/30/2019

Job Description

Arconic (NYSE: ARNC) creates breakthrough products that shape industries. Working in close partnership with our customers, we solve complex engineering challenges to transform the way we fly, drive, build and power. Through the ingenuity of our people and cutting-edge advanced manufacturing techniques, we deliver these products at a quality and efficiency that ensure customer success and shareholder value.

In the first half of 2020 Arconic will separate into two stand-alone industry-leading public companies.  Each will have significant global reach.  To learn more about this exciting transformation, visit our website.
 
Arconic is currently in search of a Manager, Financial Accounting to join the Global Financial Services group in Pittsburgh, PA.


Primary Purpose of the Job:
 
Financial Accounting Services (FAS) provides comprehensive general ledger accounting services for all Arconic business groups across North America. The Financial Accounting Manager – Corporate is an individual contributor that will be responsible for the reconciliation, journal entry, financial review, and closing process for corporate headquarter locations. In addition, the role will also work in the following services areas:
  • Month-end Business Unit General Ledger Closings and related Account Reconciliations and Analysis
    • The position owns the month-end account closing process and serves as the primary point of contact for Arconic’s complex business unit operating locations.  The Financial Accounting Manager ensures accounting procedures are performed according to the department's defined standards and that work is completed by defined deadlines. Any issues with the work or schedule are escalated to the FAS Supervisor in a prompt manner. The Financial Accounting Manager maintains active and frequent communication with location accounting representatives and business unit personnel and regularly shares this information with team members and supervisor. They are responsible for solving problems to root cause and ensure compliance with GAAP and Arconic’s Financial Accounting Standards.
    • This position ensures account reconciliations are completed and updated in RST by the 15th of the month and approved in RST by 25th of month.  The reconciliation process includes supervisor and peer review and this position performs and monitors the review process. This position is also expected to revisit the prior period(s) peer review notes for completeness and accuracy and provide feedback when review notes do not meet the department’s defined standards.
  • Centralized Business Process Ownership and Administration
    • Complexity of general ledger accounting services range from routine, recurring transactions to highly complex business acquisition and divestiture accounting activities.
    • Substantially all routine, recurring transactions and related reconciliations%5C%5Canalysis have been co-sourced to our service provider in Székesfehérvár, Hungary.  However, overall ownership and accountability for service, cost, and quality is retained centrally by Pittsburgh FAS, and more specifically, owned by the Financial Accounting Manager who oversees the services that have been transitioned to Hungary. The Financial Accounting Manager position is the daily liaison between the BU customer and Hungary and is responsible for driving continuous improvement and process standardization.
    • Business processes (BP) with moderate to high complexity transactions and reconciliations%5C%5Canalysis have been centralized in the Pittsburgh office into small BP teams who are wholly responsible for the creation and implementation of all process documentation that clearly delineates responsibilities, defines all tasks and control points within the end-to end business process.  Documentation includes the roles of all parties to the transaction (e.g., the location, BU management, Pittsburgh shared service accountants, Hungary shared service accountants, etc.) so the entire process is clearly understood.
  • Compliance and Control
    • This position coordinates and participates in Arconic Self-Assessment Test (ASAT) testing procedures, including the monthly peer review process.  The position monitors adherence to standard operating procedures through every accounting cycle and suggests updates to procedures as needed.  The position improves and standardizes processes using ABS principles.  This position also is responsible for maintaining complete compliance and control over the centralized business processes to which they are assigned a leadership role.
Major Activities/Key Challenges:
  • Customer Service and Business Process Ownership and Administration
    • Perform the general accounting functions for complex operating locations, including the coordination of off-shore support team as required
    • Lead high complexity business process teams as assigned by management and actively mentor and develop subordinate team members.
    • Work with BU / location contacts to continuously identify areas of improvement and value creation in all service areas.
    • Develop and maintain expertise regarding GAAP, Arconic’s Financial Management Handbook (FMHB), and other financial reporting rules and requirements.
    • Act as an expert resource for location personnel in answering questions and providing direction on all areas of the general ledger such as fixed assets, project accounting, tax, payroll, accounts receivable and accounts payable.
    • Solve problems to root cause to prevent recurrence. Compile and submit financial reports on behalf of the business units or locations, examples are tax packages, month end analysis reports, periodic government reports and other ad hoc requests from the location, business unit or corporate finance functions.
    • Work with the FAS team and BU / location contacts to ensure the following objectives are met:
  • Closing and Account Reconciliations
    • Ensure locations are closed by 6:00 pm on WD1
    • Complete account reconciliations by the 15th of the month
    • Complete Peer Reviews by the 25th of the month
    • Adhere to the monthly closing check-list process:  monitor throughout the month, review and sign-off at the end of WD1
    • Escalate errors/adjustments >$100,000 to FAS management
    • Review location income statement and balance sheet fluctuations
    • Explain intercompany out of balance conditions >$100,000
    • Review monthly COA update for changes impacting your locations
    • Conduct pre / post-closing conference calls with locations as required
    • Ensure account reconciliations are completed and updated in RST by the 15th of the month and approved in RST by 25th of month
    • Ensure all locations’ reconciliations are reviewed as a part of the peer review process
    • Review list of unreconciled accounts and mentor fellow team members and/or location personnel to complete reconciliations for these accounts
  • Compliance / Improvement
    • Coordinate and participate in ASAT testing procedures, including participation in the peer review process
    • Drive process improvement and standardization utilizing ABS principals
    • Assure proper documentation exists to maintain strong levels of ASAT / Audit compliance – supporting schedules, resolution of material reconciling items, location approval of account matrix, update of RST, etc.
    • Monitor adherence to standard operating procedures through every accounting cycle and make updates to procedures as needed
Essential Knowledge& Skills/Education:
  • Expert knowledge of Generally Accepted Accounting Principles
  • Expert knowledge of financial policies and procedures
  • Proven leadership skills, including both face to face and remote interaction with off-shore resources
  • Working knowledge of internal controls
  • Expert computer skills (spreadsheet / data query and manipulation)
  • Expert communication skills (customer relationships / technical writing) +
  • Ability to work with Major Customers:
    • Business unit finance leaders
    • Location accounting controllers / accountants / plant managers / representatives
    • Corporate Financial Accounting, Treasury, Tax, and other Corporate resource units
    • Internal and external auditors
    • US Governmental agents, on teams with governmental reporting requirements


Qualifications

Basic Qualifications:
  • Bachelor's Degree from an accredited institution.
  • Minimum of three (3) years' experience in an Accounts Receivable, Accounts Payable, Credit, General Ledger or Treasury function
  • Employees must be legally authorized to work in the United States.  Verification of employment eligibility will be required at the time of hire.  Visa sponsorship is not available for this position.
 
Preferred Qualifications:
  • Bachelor’s Degree in Accounting from an accredited institution
  • Master's Degree from an accredited institution or advance certification (MBA, CPA, CMA).
  • Oracle, Hyperion, JD Edwards, or any ERP system experience.
  • Highly Proficient Microsoft Office products Excel particularly, pivot tables, vlookups and macros.