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DIRECTOR OF REVENUE RECOGNITION
As the Director of Revenue, you will be responsible for managing the Revenue team and ensuring that revenues are recorded in compliance with US GAAP while helping the Company to maximize revenue. You will directly report to the Vice President, Corporate Controller and be a key part of the finance team.
The successful candidate will be a significant member of the management team while shaping, growing, developing, and leading a world-class organization. The ideal candidate must provide organizational vision and identify areas for expansion to build on the current success drive continued growth. It is critical that this person have the intellectual horsepower and dynamic work ethic that defines the core of company and the leadership team.
The Director of Revenue will own the business processes and accounting systems required to analyze and support fair value calculations and relative selling price allocations in accordance with ASC 606, ASC 605 and ASC 985-605. You will be charged with developing strategic and tactical plans to achieve agreed-upon goals. You will be tasked with continually evaluating the revenue recognition processes and working with the VP, Corporate Controller, General Counsel and the CFO to develop detailed communications and training to the Sales team.
The Director of Revenue position requires that the successful candidate keep his or her finger on the pulse of rapidly evolving enterprise, carrier, data centers, and cloud computing and mobility markets as well as the economy and shareholder base. At the same time, the Director of Revenue is expected to demonstrate collaborative, solutions-oriented leadership by working closely with all disciplines including finance, marketing, engineering, operations, and HR.
Within the first sixty days, the successful Director of Revenue will be expected to gain a clear understanding of the Company’s revenue policies, processes, significant revenue contracts and revenue streams.
GENERAL DESCRIPTION AND OVERALL OBJECTIVES
- Be a leader and model as a key executive of the Company.
- Management and supervision of technical accounting related to the Company’s revenue recognition policies.
KEY ORGANIZATIONAL RELATIONSHIPS AND DEPENDENCIES
- Chief Financial Officer, Senior Vice President Operations, General Counsel, Senior Vice President of Sales, Vice President Corporate Controller, Senior Director FP&A, Senior Director Sales Operations and Director World Wide Sales Finance.
- Support Functions for strategic and operational support.
- Lead all revenue policy and revenue accounting processes for the Company, ensuring that all significant judgment areas are documented and interpretations are consistent and compliant with US GAAP.
- Proactively manage all communication regarding revenue recognition with external auditors.
- Manage the revenue close calendar and related processes to ensure timely and accurate monthly and quarterly revenue close, including the preparation of schedules for SEC filings and client deliverables for the Company’s external quarterly review and annual audit.
- Provide technical and operational advisory assistance to sales organizations with respect to product launches and new product offerings and related promotions by providing alternatives and guidance to maximize revenue while maintaining compliance with accounting requirements.
- Work closely with sales management and legal counsel to provide guidance in the structuring of contracts, ensuring that revenue recognition-appropriate language is included.
- Maintain a current level of expertise relating to professional standards and emerging industry and technical developments in the area of revenue recognition and apply the information proactively.
- Continually review and update SOX 404 internal controls with respect to revenue recognition and ensure that testing of internal controls is successfully completed in a timely manner
- Manage the quarterly sales certification process.
- Remain current on business decisions, including review of contracts and partner guides and other marketing collateral in order to proactively address critical related accounting issues.
- Continually assess, develop, and update the documentation associated with the Company’s revenue policies and processes to ensure proper recording and revenue recognition.
- Identify and implement processes and best practices within the organization; drive efficiencies in business and accounting processes.
- Take full responsibility to develop relationships with sales team to ensure that roadblocks preventing the timely closing of projects, sending of invoices and ensuring accurate reporting of revenues, receivables, reserves and collections are identified, constantly monitored and eliminated.
- Manage, mentor and train staff to help them achieve their highest potential and to help the staff and Company reach their goals.
Retain and develop key talent.
KEY PERFORMANCE MEASURES
- Deferred Revenues
- Contra revenue including MDF & Back End Rebate Liabilities
- Leadership Skills:
- Puts the Customer First, whether an internal customer or external customer: Has a relentless focus on the customer.
- Understands what the customer wants and how to best deliver the experience.
- Works Well with Others: Listens and communicates well with others within and outside of company. Creates a team environment that is positive and productive.
- Takes personal responsibility to do the right thing, and persists in times of challenge or uncertainty. Adapts quickly to change and makes timely and thoughtful decisions.
- Continuously seek opportunities to improve self and others. Leads with trust, honesty and commitment to hire, coach and develop others to achieve their potential.
- Understands what drives overall business success and is accountable to prioritize and deliver quality results. Anticipates obstacles and takes action to prevent or minimize their impact.
Successful candidates will possess the following attributes and experience:
- Minimum 10 years of relevant accounting and finance experience in leadership roles.
- BS degree in Business Administration (finance, economics, or accounting). MBA or CPA preferred.
- Extensive experience reviewing and documenting complex, multi-element sales agreements.
- Must be able to relate to all levels of management and employees with ease and enthusiasm.
- Excellent oral and written communications skills are necessary, including the ability to communicate technical accounting requirements to a non-technical audience.
- Excellent presentation skills.
- Ability to interact with and deliver solutions to an executive audience.
- Experience working in multinational organizations.
- Demonstrates technical acumen in US GAAP and SEC financial reporting including the following areas: ASC 606, ASC 605, and ASC 985-605.
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