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.
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.
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.
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.
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.
Education, Experience, Skills
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
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