• Legal Entity Controller – West Africa at Coca-Cola

  • Posted on: 22 May, 2014 Deadline: 7 June, 2014
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  • JOB SUMMARY:
    The Legal Entity Controller is responsible for managing tax compliance of the legal entities under his / her jurisdiction and working with the Business Unit teams to proactively identify and mitigate strategic and transactional tax risks. The LEC is also responsible for overseeing compliance with US GAAP, IFRS and / or other local accounting regulations as well as company accounting policies; and safeguarding the resources of the company by enforcing internal controls & company policies, and continuously improving them to ensure smooth operations of the business.

    Legal Entity Controller – West Africa

     

    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.

    Method of Application

    Click here to apply for this position

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