Diageo Hiring for Manager – Financial Control at Bangalore, India Full Time

Temporary work opportunities align well with people who are looking for career flexibility and less traditional ways of working, but at the same time are people driven to deliver amazing work in high-profile situations. Direct Source PRO is a service offered by PRO Unlimited that provides top talent directly to industry leading clients who have flexible temporary assignments that work on a variety of projects and unlock opportunities for exciting work. As a temporary contractor, you’ll be employed by our Managed Service Provider, PRO Unlimited, who manages most of our temporary contract hiring. You will not be employed by Diageo.

This temporary assignment will be working with Diageo. Diageo India is the country’s leading beverage alcohol company and a subsidiary of global leader Diageo plc. The company manufactures, sells, and distributes an outstanding portfolio of premium brands such as Johnnie Walker, Black Dog, Black & White, VAT 69, Antiquity, Signature, Royal Challenge, McDowell’s No.1, Smirnoff, and Captain Morgan. Visit Diageo’s global responsible drinking resource, Drink IQ (https://protect-us.mimecast.com/s/wbLEC73zwDf3NKLnuRAm7p?domain=diageo.com) , for information, initiatives, and ways to share best practices. Celebrating life, every day, everywhere.

With revenues of over £12 billion, at Diageo, we’re proud to be the leading beverage alcohol company in every region of the world. But our collection of iconic, timeless brands – including Baileys, Guinness, Smirnoff, and Johnnie Walker – relies on a dynamic and passionate finance team. Working with us is an opportunity to develop your skills, make a positive impact on our performance and protect an entrepreneurial legacy.

As a FTSE 100 company with global scope and ambition, there’s a huge range of activity to get involved with – everything from investor relations to accountants, risk analysis, compliance and business development.

Job Description

Context/Scope:

Diageo Shared Services (DSS) is a global, multi-functional shared services organization that manages Diageo-wide processes on behalf of various regions and central functions. Within DSS, processes are organized into four operating “Towers”: Financial Controlling, Sell to Cash, Source to Pay and HR Services.

The captive Business Service Centre in Bangalore (DBSI) is one of several DSS locations that works with markets around the world to manage these processes. Other locations include Manila, Budapest and Bogota. DSS is a multi-cultural and matrixed environment.

This role sits within the Financial Control Tower in DSS in Bangalore. Financial Controllership involves delivering advice and insight to the business and oversight on all matters relating to Financial Control, including:

Translating business initiatives to accounting decisions (e.g. M&A projects, integration of recent acquisitions, changes to key customer contracts) Translating key accounting initiatives to business decisions (e.g. applying year end accounting instructions to current issues in the business) Providing guidance/direction on how to structure key business arrangements (e.g. unusual sales contracts, product returns) Helping drive business results, particularly around cash and margin, by highlighting and driving opportunities within the business Interfacing with CC&E, GAR and PWC on controls testing and audits Working closely with the Record-to-Report team (RTR) to ensure accurate, complete and timely financial accounting and reporting at a Legal Entity level for internal, external and statutory purposes Working with other Towers to resolve issues impacting the Financial Control environment.

Dimensions:

The Manager – Financial Control is part of the Financial Controlling team, reporting to the Legal Entity Financial Controller. The role works with internal stakeholders including the in-market Finance team, the Group Reporting team, other DSS Financial Control teams and teams in other Towers.

Market Complexity:

This role will work with a large, complex and integrated Diageo market including multiple countries and business units.

Purpose of Role:

The Manager – Financial Control is a member of the Financial Control team. The role supports the Financial Controller in working with the market to understand business operations and issues and working with the Record-to-Report team to ensure the information in our legal entity financial statements accurately and completely reflects our business operations, incorporates non-routine transactions and events and is consistent with Diageo reporting rules and accounting standards.

The purpose of the role is to:

◦ Provide the Financial Control team with technical accounting guidance and act as the technical right hand of the Legal Entity Financial Controller

◦ Identify insights and actions required out of regular balance sheet and other analytical reviews (e.g. need for accrual releases, provisions, etc) by building a deep understanding of the legal entity accounts (balance sheet, P&L, cash flow) and the business drivers behind those accounts

◦ Understand, interpret, and implement Group Accounting and Reporting requirements. Communicate requirements to the rest of the Financial Control team and to relevant teams in the market

◦ Perform and document process analysis / accounting assessments on high risk areas and major projects/transactions (e.g. mergers and acquisitions, new reporting standard introduction, system integrations and implementations, etc.).

◦ Perform month end close responsibilities including journal entry preparation (e.g. accounting guidance and ensuring proper backup information and data in alignment with PCAOB requirements)

◦ Prepare and review statutory financial reports and oversee the statutory adjustment and transfer pricing process

◦ Support internal and external audit-related requests related to the legal entities the role is responsible for

◦ Validate RTR balance sheet reconciliations with the RTR team and support RTR reconcilers in complex issues

The role will ensure that global systems and processes are embedded in FC operations and will both lead and support continuous process improvement.

Top Accountabilities:

Leading Filing Assurance Committee (FAC) Coordination for whole NAM FC team. This happens twice ayear and submitted to Diageo Exec post review and approval from NAM Executive team Leading Quick check conversations for whole NAM FC team. This happens monthly before the results are finalised for the month. Support LE Financial controller for Beer entities Identify and address financial risks and opportunities: advise on and prepare presentations on accounting, controlling, and reporting related topics Ensure accuracy, completeness, and timeliness of financial reporting

Qualifications and Experience Required:

Education / Work Experience

◦ Chartered Accountant with 7- 9 years Post qualification experience/CA Inter.CWA

◦ 8-10 years of experience in a multinational corporate environment with exposure to financial accounting, reporting, controlling

◦ Ideally, experience working in an in-market company

Language Skills

◦ Business English proficiency is a must with excellent written and verbal communication skills

Functional and Other Capabilities

◦ Excellent business partnering and stakeholder management skills

◦ Ability to communicate complex accounting ideas simply to a business audience and identify accounting implications of business issues.

◦ Superior analytical and problem solving skills

◦ Advanced accounting and reporting knowledge

◦ Strong understanding of risk and controls

◦ Strong organizational skills and ability to work independently and set own agenda

◦ Personal ownership for issue resolution

◦ Curiosity for business issues

PC skills / System knowledge

◦ Relevant experience with SAP FI /CO modules

◦ Relevant experience in financial consolidation and/or management reporting sytem – data-flow / reporting background

Strong and extensive Excel, Power Point

About Magnit Global

Magnit is a leading, global professional services and technology company. We have been a leader in contingent workforce management since 1991 and work with leading Fortune 500 companies and other large organizations across numerous verticals including consumer electronics, research and development, pharmaceuticals, health services, and many more.