Accounting Woodcliff Lake, New Jersey 24.09.2024
Financial Analysis Lead
As an independent group of companies, the BMW Group has a commitment to creativity and breakthrough ideas that goes well beyond the racetrack. In order to continuously create ultimate driving machines, we drive our growth and design excellence by staffing our teams with individuals who are innovative and always looking for the next great idea. If you share our vision and view yourself as an independent, creative thinker, we invite you to join our team in this exceptional role located in Woodcliff Lake, NJ.
The Financial Analysis Lead independently plans (budget, forecasts, outlook), creates and analyzes Warranty/Goodwill/Service Contract related provisions and liabilities. On a monthly basis this role provides actual / plan variance analysis of the financial result of BMW of North America, LLC (BMW NA) and creates reporting to senior management. This position also performs quarterly studies of Warranty / Goodwill / Service Contracts provisions and liabilities to ensure appropriate reserve levels. Further this position leads the development and implementation of tools to enhance and automate accounting processes.
Key Responsibilities:
- Lead the financial analysis of the monthly, quarterly and annual financial statements (balance sheet and P&L) against budget, forecast and prior year actuals for BMW NA (total company analysis by segment and product line) and create reporting to senior management.
- Lead the monthly Financial Statement Meeting and explain variances and overall business developments to head of accounting and head of controlling.
- Independently plan LRP, Budget, Forecast and Outlook for all aspects of provisions for Warranty, Goodwill (> $ 2 billion), as well as deferred revenue positions for Roadside Assistance, Scheduled Maintenance, Maintenance Plan Upgrades and CPO Protection (> $ 1.5 billion).
- Cross-functional collaboration with multiple business departments on all management levels to lead the monitoring of program profitability/loss for service contracts on a vendor code / program level.
- Independently organize and facilitate quarterly management briefing related on Warranty/Goodwill/Maintenance Plans/Recalls and coordinates the preparation with various process partners.
- Lead quarterly study of Warranty & Goodwill provision as well as Maintenance (Scheduled & Upgrades) and CPO Protection in order to ensure the appropriateness of provisions and reserves in BMW NA's books.
- Serve as a subject matter expert specifically related to warranty provisions and deferred revenue positions while ensuring effective system utilization, accuracy of data flowing through systems.
- Continuously drive initiatives to automate processes as well as development of any new systems and any enhancements to current systems in close collaboration with IT in the area of Financial Analysis and Warranty.
- Independently prepare ad hoc tasks for direct and upper management (analyses, presentation, estimates).
- Independently investigate topics regarding fundamental accounting treatments under IFRS for all balance sheet and profit and loss statement items.
- Verify that internal accounting controls related to accounting processes are in place and effective.
- Work with and provide explanations to external auditor (PwC) for the annual audit and mid-year review.
Requirements:
- 7+ years of experience in accounting/finance.
- 5+ years experience in cost accounting, public accounting or general accounting.
- Broad knowledge of general accounting topics.
- Advanced knowledge of International Financial Reporting Standards.
- Strong analytical skills and proficiency in Excel.
- Advanced use of BI tools (Tableau, QLIK, Power BI).
Preferences:
- Certified Public Accountant.
- Masters Degree in Finance/Accounting.
- 2+ years of experience as a supervising or leading a small size team.
- 1+ years of experience in systems implementation.
Join the BMW North America team and enjoy a high-performance Total Rewards package that may include:
- Medical, Dental, and Vision insurance.
- All with options for $0 Employee contribution.
- 401(k) with Company match.
- Retirement Income Account (RIA).
- Employee vehicle program.
- Paid Parental Leave of up to 6 weeks.
- Paid Time Off in addition to Company paid holidays where eligible.
- Hybrid work environment.
- Voluntary Benefits to fit your needs.
The pay range for this role is: $105,213.00 - $123,780.00.
Relocation is available for this position. This is a hybrid role that requires regular attendance in the office.
The selected candidate’s education, skills, experience, and location will be used to determine the final salary offer. All pay ranges are based on a full-time work schedule. This statement is in accordance with state and local pay disclosure requirements.
Even more so than the generous compensation and benefits, the culture and values of BMW of North America makes it the ultimate working environment. These values are Responsibility, Appreciation, Transparency, Trust, and Openness. We allow these values to guide the way we conduct ourselves and our business.
At BMW, we are driven by diversity, equity, and inclusion. We are proud to be an Equal Opportunity Employer and are welcoming of all individuals, regardless of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status.
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