The Pacific Sales and Magnolia businesses specialize in the sale of premium brands in the appliance and home theater markets. They are growing areas for Best Buy and the Controllership Manager will play an integral role in the success of this growth and execution. The Senior Manager will support the increasing volume and complexity of existing and future roll-outs of SWAS (store within a store model - where a Pacific Sales/Magnolia SWAS resides within an existing Best Buy store) and SAS (stand-alone store multiple Pacific Sales stores on the West Coast) locations. This role works closely with FP&A, Operations and other Finance teams to ensure the integrity of the financial statements. The role is a key partner to FP&A and the business to understand and assess new business strategies and processes, including evaluating and communicating the associated accounting treatment and evaluating internal controls and finance system requirements necessary to support financial and managerial accounting needs.
Principle responsibilities of the role will include:
Accurate accounting for all aspects of Pacific Sales and Magnolia businesses in compliance with GAAP. This includes maintaining integrity of the financial statements through proper accounting policies and procedures applied on a consistent basis.
Partnering with FP&A and Operations teams to streamline accounting function including revising methodologies and identifying and navigating through accounting related issues.
Leading and developing a team of four employees at the Corporate Office (two senior accounting analysts and two accounting analysts).
Leading and developing an offsite Accounting team in Torrance, CA. The team includes one direct report (Manager) and 6 indirect team members responsible for AR and AP functions.
Supporting and reporting on the entire income statement for both businesses which includes periodic review and variance commentary.
Dealing with challenging accounting topics like vendor support, intercompany inventory transfers, customer deposits and service offerings.
Managing multiple GL and reporting systems that support the different business units.
Identifying system enhancements to mitigate risk and improve processes for both the team and the larger business. Also, working closely with IT to test and implement enhancements.
Coordinate monthly AR reviews with Shared Services. Address aged AR proactively and ensure accuracy of bad debt reserves.
Help liaison between Best Buy and the Pacific Sales satellite office in California.
Oversight of control development and management around month end close.
Champion of systems automation and data integrity improvements
Bachelor's degree in accounting, finance, economics, business, or related field. Additional professional experience may be substituted for a degree.
6+ years of progressive work experience in an Accounting or Finance capacity.
2+ years management experience (with direct reports).
Strong foundational knowledge of accounting principles and an ability to link business issues to accounting implications.
Strong communication skills (written, verbal, presentation and facilitation).
Strong business acumen and analysis skills.
Passion and success in developing a team
Experience with revenue recognition accounting, lease accounting and related guidance.
Experience in implementing and testing new IT systems.
Ability to highlight risk and proactively partner and communicate with a wide range of stakeholders within Controllership as well as outside of the department.
Attention to detail along with a desire and keen sense to "dig deeper" when necessary.