Sr. Loyalty Accounting Manager

The Senior Manager, Loyalty Accounting will work with the CFO, Controller, Director of Revenue Accounting, and other personnel within the accounting function to ensure accurate reporting of loyalty related revenue, costs, and liabilities. The role will also work with outside actuarial firm (WTW) to model and calculate critical financial components of the program to enable accurate forecasting and accounting (redemption rates, value per point, cost per point, program liability).

This is a highly technical role will have ownership of related processes, procedures, and be responsible for matters related to accounting for a loyalty program under US GAAP. This role will also support the Director of Revenue Accounting by providing General Accounting and General Management support and oversight to the various teams within Revenue Accounting ensuring compliance standards as well and professional development and other management specific accountabilities.

In addition, the role will also work on ad-hoc projects in Revenue Accounting related to Technical Accounting Research, Controls, Business Process Improvement and Issue Investigation.

Essential Functions:

• Manages a team of direct and indirect reports including day to day oversight, providing professional development opportunities and annual performance evaluation. Specifically, the role provides ongoing review and compliance of revenue recognition related to the loyalty program for proper application of FASB ASC Topic 606 (i.e., apportionment of sales to deferred revenue, recognition of previously deferred revenue upon point redemption, etc) and General Accounting.
• Maintain and update underlying schedules and work papers used to determine loyalty accounting balances for period-end reporting.
• Coordinate with co-branding partners that utilize CCL loyalty brands for the Company’s portion of revenue share, bounties, etc., as well as the amount of point liability to be accrued each reporting period.
• On an as-needed basis, perform all technical research related to loyalty accounting and US GAAP, including the impact of any pronouncements issued by the FASB and their potential impact on CCL’s loyalty accounting and all general financial reporting issues.
• Collaborate with CCL FP&A, the Loyalty Program Team, and other departments within the Company that will require a loyalty accounting viewpoint for planning, forecasting, etc., including the maintenance of internal models used for these purposes.
• Take ownership and manage all policy memos regarding CCL’s technical accounting positions related to the application of loyalty accounting and general accounting issues in the Revenue Accounting group under US GAAP.
• Provide the financial reporting team with all loyalty-related balances and disclosures required for regulatory filings.
• Serve as the external auditor’s point-of-contact for all questions and requests related to loyalty accounting and general accounting issues related to Revenue Accounting.
• Work on Special and Ad-hoc Projects are required to support the Loyalty Accounting and Revenue Accounting function

Qualifications:

• Bachelor's Degree in Accounting or related field
• Master’s Degree in Accounting/Business Administration combined with a CPA
• Certified Public Accountant (CPA) or Certified Management Accountant (CMA)
• 6 – 8 years of public accounting experience, preferably from a “Big 4” firm in the audit line of service or in a consulting capacity that advises on technical accounting matters.
• 10 years of overall accounting experience with a mix of public accounting and loyalty accounting

Knowledge, Skills, and Abilities:

• The ability to perform technical accounting research through use and direct referencing of the FASB Accounting Standards Codification, not developing research solely through interpretive guides, manuals, and other nonauthoritative sources.
• A comprehensive understanding of FASB ASC Topic 606, especially as it relates to loyalty accounting (i.e., allocation of a material right, accounting for breakage, accounting for loyalty brand IP (symbolic IP) and the application of the sales-based royalty scope exception, estimating SSP for loyalty points, updating…