Market Accounting Manager Job Vacancy in Philips Chennai, Tamil Nadu – Updated today

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Full Details :
Company Name : Philips
Location : Chennai, Tamil Nadu
Position :

Job Description : Job Title
Market Accounting Manager
Job Description
#LI-PHILIN
About PHILIPS:
Philips is a global leader in health technology, committed to improving billions of lives worldwide and striving to make the world healthier and more sustainable through innovation. Driven by the vision of a better tomorrow.
But it’s not just what we do, it’s who we are. We are 80,000, wonderfully unique individuals, with two things in common. An unwavering sense of purpose and a relentless determination to deliver on our customers’ needs. It’s what inspires us to create meaningful solutions – the kind that make a real difference – when it matters most.
The world and our customers’ needs are changing faster than ever before and while we are proud of what we do already, we know we can do more. That’s why we need you, to help us tackle increasingly complex challenges posed by ever evolving health and well-being needs.
About Philips Global Business Services (GBS)
Philips Global Business Services delivers excellence in the execution of business services, enabling an agile repeatable framework to leverage market opportunities that contribute to extending our leadership as a Health Technology company. Our people are a key part of the transformation program in Philips and at GBS, you become part of a global team of professionals that form the backbone of this journey.
Job Description:
Takes co-responsibility with the Business Partner(s) (BP) over the integrity of financial and management reporting, and work to proactively advise the BP on the impact of accounting standards on different business scenarios.
Interacts closely with the business to proactively advise on accounting requirements for business events in order to drive better business decisions by making early determinations on the impact of accounting guidance.
Proactively identifies risks to the financial processes, and works with stakeholders inside and outside of Finance to address identified risks and financial process issues.
Determines accounting treatment for events and transactions of a complex, unique, and/or judgmental accounting nature, as well as to apply new/revised accounting policies in consultation with Technical Accounting and Oversight (TA&O).
Required to review the trial balance (TB) and closing topics (Pre-MEC) in the monthly process, and lead the risk based Financial Reporting Review (FRR).
Proactively monitors the BSARs, MEC and Finance and ICS audits. This includes working across finance and non-finance teams to address and close issues timely, review account documentation, and ensure reporting timelines are met.
As the main point of contact for the business over the RTR processes, responsible to collaborate with the BP to ensure business requirements are captured and that stakeholders are updated on the status of KPIs and on resolution of accounting and process issues.
Leads resolution of RTR issues, and will coordinate both RTR (AS, Global Hub, other AccOps pillars and Infosys) and with non-RTR counterparts (e.g. BP, Supply Chain, Purchasing, HR, etc.) to drive resolution of issues and to build stronger processes.
Builds knowledge over business requirements, financial accounting processes and the underlying Market/BG processes within the Finance and non-Finance community, and keep the organization updated on business developments relevant to accounting processes and accounting integrity.
Manages processes using LEAN tools, and use LEAN methods to address process issues and problems to address root causes and not just address the symptoms
Key Performance IndicatorsOperational KPI’s (MEC Performance Index, BSAR Quality Index)
• •Internal control issues and audit issues
• •Accounting incidentals and corrections
• •Annual cost targets and productivity improvements
• •Harmonization objectives
• •Stakeholder management indicators
Job Knowledge, Skills & Experience:
Education Qualification:
Post-graduate qualification as chartered (management) accountant, C(I)MA, FP&A, CFA, MBA or equivalent.
Work Experience:Progressive working experience and roles in e.g. Finance, FP&A, financial control, within an international environment.Strong and formal IFRS knowledgeStrong Excel skills and SAP knowledge preferredStrong knowledge of internal control processes and systemsPreferably having audit or consulting experience from “Big 4” firms.
Key Skills/Competencies:
Technical/Functional Competencies:Frequently interacts with customers, and/or functional peer group managers, normally involving matters between functional areas, other company divisions or units, or customers and the company.Has full understanding of company processes relevant to financial accountingOften must lead a cooperative effort among members of a project team.Has detailed knowledge of SAP functionalities and Accounting standards and policies to be able to act as a Problem solver/ Advisor for Acc Ops, Infosys and Business stakeholders
Behavioral Competencies:Strong Communication skillsTake ownership of E2E Accounting process where the position does not have direct control, but has ability to influence other processes to meet objectivesStrong ability to build collaborative relationsInfluential skills
Key Challenges & ComplexityWorks on problems of diverse scope where analysis of data requires evaluation of identifiable factors.Demonstrates good judgment in selecting methods and techniques for obtaining solutions.Networks with senior internal and external personnel in own area of expertise..Manage discussions with Internal auditors and external auditors on accounting topicServes as an escalation point/ point of contact for all stakeholders for issues/ new topics/ questions and is expected to connect with relevant processes to meet objectivesAs Co-signor of Accounting statements, needs to ensure has an E2E knowledge of not only Accounting topics related to ORUS in scope but full understanding of the business situations, deals and risks to be able to ensure Accounting integrity
In return, we offer you
A meaningful career, with new challenges in our dynamic organization, working in an encouraging multinational and multicultural environment. We are happy to provide you with this opportunity to work with new technologies. You will be surrounded by passionate and committed, colleagues who share your ambition to create outstanding customer experiences. Your work will be ambitious and full of opportunities for growth. Variety and challenge will be part of your daily routines.
How we work at Philips
Our newly-adopted hybrid work concept fuses flexibility with collaboration to deliver great outcomes for our people and our customers. We are embracing an approach wherein we spend more time together than apart – which for full-time employees translates to an average of at least 3 days working from the office and up to 2 days from home – for our hybrid roles.
Hybrid work flexibility means people can meet the changing demands of work and home in the most balanced, productive, and healthy way. Hybrid work flexibility means people can meet the changing demands of work and home in the most balanced, productive, and healthy way.
Our hybrid working model is defined in 3 ways:
We believe in the importance of impactful collaboration: There’s a certain energy when everyone’s in the same room that can heighten idea generation and creative friction needed for problem-solving.
We embrace flexibility: Choosing where, when and how to work can vary according to task and team schedules. Flexibility isn’t office or online, it means choosing the space that works best for you, your teams and our customers on a case-by-case basis.
We want to be at our best: The way we work and our workspaces are designed to support our well-being, offer career advancement opportunities, and enable us to be at our best.
Why should you join Philips?
Working at Philips is more than a job. It’s a calling to create a healthier society through meaningful work, focused on innovative, customer-first health technology solutions. Help us improve the health and well-being of billions of people, every year. Ultimately creating a career that no one could have planned for. Even you.
Notice for Philips Job Seekers
It has come to our attention that a group of unknown fraudsters are reaching out to people on LinkedIn and other websites, offering fake employment opportunities and charging a fee in the name of Philips. We have noticed that these emails are using fake domain addresses as opposed to Philips domain (Philips.com). Please note that Philips has a merit-based employee selection practice mentioned on our official website (www.philips.co.in). We do not charge / accept any amount or security deposit from job seekers during the selection process or while inviting candidates for an interview. To find out more, please read : https://www.philips.co.in/a-w/about-philips/public-notice.html

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