The Inventory Accounting Associate reports to the Inventory Lead within the Intercompany and Inventory team. As part of the inventory team, this role will support the timely and accurate accounting and controlling for inventory within Shire’s European entities that operate in both JD Edwards and SAP. The activities are mainly focused around accurate recording, reconciliation and analysis of the inventory values and include inventory valuation and profit on inventory (I/C Mark-up). These responsibilities have to be executed in a challenging organizational structure The activities are mainly focused around accurate recording, where the inventory is physically located in various countries in Europe. This inventory can be owned Locally by the country LOC or financially owned and managed by the Swiss based Principal, in other business models. As a result this role and the team will be a key contact to affiliates for inventory accounting and liaison closely with Technical Operation Finance teams. All LOC inventory is sub contracted to both 3PL’s & 4 Pl’s.
Responsibilities include but are not limited to the following:
- Support financial transactions and resolving related issues.
- Performing financial Inventory reconciliations and booking manual journal entries where required to reconcile differences between 4Pl and Shire book of record.
- Participating in the monthly/quarterly process to decide and record financial provisions for profit in inventory across European entities
- Work with the 4PL project team to understand the business flows and build robust accounting processes to ensure accuracy of accounting.
- Where the developed processes are manual ensure adequate controls are put in place to meet SOX, US GAAP and all other Reporting standards.
- Gather proposals for future improvement of processes including process changes to original design, system development and improved integration
- Support processes / system implementation
- Replying to ad hoc Inventory queries/emails
- Support business partners as per SLAs
- Participating in month-end/year-end activities
- Liaising with Local Country Finance, Supply Chain and Warehouse Management where necessary.
- Performing duties in accordance with all policies and procedures and ensuring application of control for SOX compliance.
- Other ad-hoc projects and such duties as the management may at times reasonably require.
Education & Experience Requirements
Include educational requirements or equivalency, required years and type(s) of experience, and necessary licenses or certificates. Specify which are required and which are preferred.
- Degree or equivalent, preferable in an accounting-related discipline.
- Minimum of three years working in a shared service center or large multi-national company
- Exposure to or experience working with Inventory either from an overall balance sheet or profit and loss statement perspective
- Good IT skills including knowledge of an ERP system (e.g. Oracle – JDE) and the Microsoft Office Suite. Good knowledge of Excel is essential
- Experience in executing month end closes
- Experience in US GAAP and SOX
- Knowledge of the pharmaceutical industry and in particular a 4PL model
- A second Western European language (in addition to fluency in English)