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Corporate US Accounting & Reporting Compensation Lead at Cargill

Posted in Finance 30+ days ago.

This job brought to you by eQuest

Type: Full-Time
Location: Wayzata, Minnesota





Job Description:

Cargill

Position Purpose & Summary


The Compensation COE is a team within Cargill’s Corporate Accounting & Finance (A&F) group.  The COE is responsible for the Accounting & Reporting and payments for Cargill’s highly confidential executive compensation, including all classes of Cargill stock and long-term incentive plans (LTIP).  The team routinely liaises with multiple stakeholder’s across Cargill including HR, Law, FP&A, Tax, Treasury, Decision Support and Controls and Cargill’s shareholders.  

 
Job Description:


This position leads the Compensation COE.  This position has expert knowledge of compensation accounting under ASC 718 along with a strong understanding the related tax impacts and regulations.  Other responsibilities include developing effective working relationships with the LTIP cross functional team, other teams within Corp A&F and the Accounting & Reporting leads around the world.  This role is responsible for the fiduciary results of the LTIP and approximately $1 billion of payment operations, while actively promoting the value of a strong control framework.  This position aids in resolving complex LTIP scenarios, accounting and financial reporting issues; assisting in the implementation of updates to the compensation and accounting systems; initiating and implementing process improvements and leading projects for the COE.


Principal Accountabilities


40% Equity Compensation Accounting, Advisory and Partnering


  • Applies an understanding of principles and techniques, evaluates and analyzes financial statements. Keeps pace with changing relevant GAAP standards and tax regulations.

  • Provides leadership to complete activities which include: Financial Reporting, including the global LTIP expense and recharge calculations, incentive accruals and reconciliations and the Corporate ESOP accounting.  Also includes P&L analysis and commentary, allocations, reconciliations, budgeting and the monthly financial close. 

  • The Compensation COE will be the key customer for the HR-Total Compensation team, and will work in close partnership with HR, Law, FP&A, Tax, Decision Support, Controls, internal and external auditors.

  • Holds self and others on team accountable for delivering results and driving the continuous improvement of finance activities.

  • Aligns with and is Systems Administrator for internal and third-party systems that provide effective and efficient operations; reliable financial reporting; and compliance with laws, regulations and corporate policies. 

  • Reviews and approves monthly JDE journal entries, account reconciliations, quarterly financial reporting and tax supplemental schedules, annual Financial Statement disclosures and financial metrics such as Cargill’s Earnings Per Share.

  • Prepares and distributes the monthly Cargill Book Value, quarterly Dividend Per Share and grant date fair value calculations.  Completes ad-hoc current or historical financial analysis of Cargill’s equity transactions, such as LTIP, Stock and Dividends as requested by Finance or Cargill Leadership. 

  • Develops and implements global accounting policies and procedures for Cargill’s LTIP and short-term incentives.

  • Performs miscellaneous compensation operations, including ongoing handling of taxable fringe benefits for Cargill’s corporate aircraft and Cargill Inc – Admin spouse travel. 

  • Maintains compliance with Cargill’s new control framework for the Compensation COE. 

30% Shareholder Payments, Tax-Related Forms and Relations


  • Provides leadership for the payment of and the accounting for all quarterly stock redemptions and dividends (approximate annual payments of $1 billion), preparation of the related calendar year 1099-Div and 1099-B forms and the maintenance of the secure shareholder banking information. 

  • The Compensation COE will be the key customer for the HR-Total Compensation team, and will work in close partnership with HR, Law, Tax and Treasury, internal and external auditors. 

  • Expertise in and is Systems Administrator for multiple internal and third-party systems that provide accurate and timely payment and tax information; reliable reporting; and compliance with laws, regulations and corporate policies. 

  • Reviews and is payment approver for all quarterly dividend and redemption transactions, banking templates, JDE journal entries, the finalized 1099 forms and quarterly transactional reports. 

  • Primary point of contact for Cargill management/retiree shareholder 1099-Div or 1099-B inquires. 

  • Understands and implements the accounting or payment requirements related to unique corporate equity transactions, such as stock splits or redemptions and equity restructurings. 

  • Maintains compliance with Cargill’s new control framework for the payment and banking activity. 

20% Continuous Improvement

  • Serves as team lead driving the process to identify, initiate, implement and document continuous improvements in key financial and payment processes.

  • Guides the development and deployment technical solutions, such as third-party software from inception to completion of the project. 

  • Conducts routine planning activities to create effectiveness in quarterly team workflows and priorities. 

  • Partners with other finance and human resources leads.

10% Coach and Develop Talent

  • Provides coaching, training, and mentoring to others on technical compensation accounting or related topics.

#LI-JG1


Education, Experience, Skills


Required:


  • Four-year Bachelor’s degree in accounting

  • Minimum of 8 years of relevant accounting experience

  • Strong technical accounting experience, problem-solving and analytical skills

  • Demonstrated ability to manage multiple priorities and deadlines effectively

  • High level of tact and ability to handle sensitive compensation information as well as employee’s personal data

  • Ability to manage projects from inception to completion

  • Ability to provide leadership in team environment

  • Demonstrated understanding of and commitment to internal controls

  • Technical aptitude to utilize technology (e.g. excel, power BI, ERP systems) to drive efficiency 

  • Excellent communication skills, both written and verbal

  • Ability to partner and engage with multiple stakeholder groups

  
Desired:

  • Proficient knowledge of ASC 718 (Stock-based Compensation)

  • Direct experience in accounting for stock-based compensation

  • Certified Public Accountant

  • Tax knowledge and understanding, such as 1099’s and tax deductibility

  • Previous experience with consolidations, financial statements and budgeting

  • Experience with J.D. Edwards and/or SAP software