Legal Entity Controller - West Africa at Coca-Cola

KEY DUTIES/RESPONSIBILITIES:

Strategic Tax Planning, Mitigation & Compliance – 40%

    Proactively work with the BU functions to mitigate all tax risks & 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 & reconciliation with SARS
    Approval of monthly/quarterly GL tax account reconciliations
    In liaison with RC, 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 adviser to ensure that agreed timelines are met and quality standards are adhered to within the approved budget.


Operational Control and Compliance – 30%

    Administer the Request for Authority (RFA) database, coordinate with Group and Corporate Capital Management, review validity and appropriateness of justifications provided by BU associates and advise on documentary requirements of various business transactions requiring RFAs
    Coordinate the quarterly Securities Exchange Commission (SEC) certification process with BUFD, RC, BU Legal & BUP 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 and manage the implementation, compliance with and periodic review/amendment of the Local Chart of Authority and relevant policies
    Review weekly payment proposals and oversee timely clearance of payment block lists to ensure accuracy & compliance before approval/payment
    Monitor(along with Controls and Compliance Manager) compliance with company’s segregation of duties (SOD) rules and perform other system access reviews
    Support internal and external audit process (CAD)


Accounting and Reporting – 30%

    Manage non-financial reporting to Atlanta including impairment surveys, third party guarantee reports, legal reserves, payments to government officials, carry-forward spend reporting, etc.
    Review monthly computation of service fees
    Prepare monthly legal entity 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 RC, BUFD, P&CM and external auditors
    Organize a legal entity board meeting with input from BUFD and BU legal director including the preparation of board packs and accompanying power point 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 such as Accounting Research, Corporate Treasury, Corporate Tax, Controllers Group, etc.
    Review AICs, SPPs, etc. that impact KO business in order to ensure that the financial statements are being properly reported


FINANCIAL/ JOB SCOPE:

    No of Reporting Units Managed : 3
    Countries with operations: 2
    Legal entities: 3


ORGANIZATION IMPACT/ INFLUENCE:

    RFC Regional Controller – Supervision, allocation of work and problem solving
    Senior tax counsel /Accounting Research manager/Treasury services managers– Problem solving & exchange of information
    ASM/Disbursements Manager/Treasury Supervisor /AP Manager – Liaison, exchange of information
    BU Finance Management – strategic partnerships, problem solving, SLAs
    BU operations (Legal) – problem solving
    Suppliers/tax advisers /auditors/Tax officials – exchange of information
    Bottler Investor Group Equity Investment contacts & Equity Investees Finance managers – exchange of information
    Controls and Compliance Manager - Liaison, exchange of information


SUPERVISORY RESPONSIBILITIES: 2 associates based in Lagos and Abidjan

RELATED JOB REQUIREMENTS/ QUALIFICATIONS:

Technical Skills:

Tax Planning and Compliance
Strategic Financial Consulting
Risk Management, Internal Controls (eg. SOX, Segregation of Duties, etc.) and Auditing
US GAAP, IFRS and local GAAP
Advanced SAP and Excel
Treasury Appreciation
Analytical Skills
Systems Thinking

Company Specific Behavior Competencies
Balancing Immediate and Long-term Priorities
Delivering results
Driving Innovative business improvements
Importing and Exporting Good Ideas
Setting a Winning Example

Generic Competencies
Tolerating stress
Understanding the business
Acting with Integrity
Influencing senior managers
Planning and organizing

Required Experience: 5-10 years’ experience in Tax and Auditing or Accounting preferably with multinational or professional practice in South Africa

EDUCATIONAL REQUIREMENTS: Compulsory that candidate has a University degree preferably in Finance, Accounting or related and is a registered qualified professional accountant (CA, CPA, ACCA, CIMA, or equivalent).

CULTURAL DIVERSITY: Cross cultural exposure is required and an Ability to interact across functions and hierarchies. Ability to communicate with confidence and influence diverse publics is crucial.

ANALYSIS:

    Identifying root causes of non-compliance with procedures and policies, developing actions plans to mitigate and tracking progress
    Understanding queries coming from tax authorities, developing a response that takes care of greater company interest and obtaining alignment of all stakeholders (Legal, Corporate Tax, etc.)
    Developing new internal control procedures to match new business models and ensuring compliance with tax, legal, accounting regulations while avoiding undue complexity
    Processes are well defined but there is complexity in dealing and solving problems in a way that satisfies all stakeholders – also, the problems generally vary on a case by case basis


JUDGEMENT AND DECISION MAKING:

    Full accountability for ensuring that the BU processes are compliant to company rules and all legal entities under area of responsibility are compliant to tax rules and GAAP.
    Ensure stakeholder/business unit requirements are met through effective management routines/processes /planning, partnering, prioritization and organizing
    Ensure escalation/communication of key issues/opportunities including tax risks, BS and CF risks and opportunities – including recommendations for resolution


WORKING CONDITIONS:

    This position operates primarily in an office environment in Lagos, Nigeria
    The spread of activities and operations is business divergent and presents a moderate level of complexity
    There is increasing pressure and scrutiny on business continually trying to extract more revenues via tax penalties
    Vulnerable and complex business models with potential exposure to unethical practices


TRAVEL REQUIREMENTS: Minimal travel required: 25% of time mainly requiring overnight stays

ADDITIONAL INFORMATION:

1) Values Statement
Honesty and integrity have always been cornerstone values of The Coca-Cola Company. Our passion for people of integrity mirrors our spirited drive for total quality in our brands. These and other elements allow the company to sustain strategic practices and drive business performance.

2) Sell Message
At The Coca-Cola Company you can cultivate your career in a challenging and dynamic environment. We are the largest manufacturer and distributor of non-alcoholic drinks in the world, selling more than 1 billion drinks a day. Unlock your full potential with a future-focused company that is known and respected throughout the world.

At The Coca-Cola Company you can cultivate your career in a challenging and dynamic environment. We are the largest manufacturer and distributor of nonalcoholic drinks in the world-selling more than 1 billion drinks a day. Unlock your full potential with a future-focused company that is known and respected throughout the world.