Group Consolidation Manager
GSK House, Brentford
5 Month Contract
Pay: up to £575 per day
Main purpose of the role
- Providing high quality financial analytics to support the external results process, including the quarterly earnings release and the Annual Report;
- Supporting the preparation of the GSK Group consolidated management and financial results, including income statement, consolidated balance sheet, statement of changes in equity and statement of cash flows using data submitted by c450 entities for use in internal monthly reporting as well as external quarterly and annual reporting;
- Assist with queries from subsidiaries and senior management regarding balance sheet and cashflow movements and transactions.
- Ownership of other ad hoc projects, including project management of the preparation of the financial disclosures in the Annual report and delivery of continuous improvements in the existing processes.
- Collect explanations and commentaries from the wider GSK finance functions to support the analysis of the consolidated financial results, balance sheet and cash flows (including head office teams such as tax, treasury as well as teams within Finance Services and the market FDs and Controllers).
- Liaise with the Group’s external auditors and internal compliance teams in relation to the operation of controls associated with the preparation of the Group consolidated financial statements.
- Manage the group consolidation processes performed by the out-sourced finance support organisation (BPO) as appropriate.
- Provide additional balance sheet and cash flow related analysis for external and internal reporting, including preparation of Notes to the Accounts in the Financial Statements
- Support the review of all financial data issued publicly as part of the quarterly and annual results process, including presentations, results releases and other corporate communications
- Responsible for aligning and/or reconciling management results with externally reported results as necessary
- Ensure the treatment of transactions is correctly reflected in the consolidated income statement, balance sheet and cash flow statement (e.g. minority dividends paid/received, business combinations, group entity restructuring and intra-group transactions) working together with relevant specialised teams in the wider finance function such as the Corporate Finance M&A team, the External Reporting team, Group Tax, Group Treasury, Treasury Accounting, Company Secretary, Corporate Development (M&A), etc.
- Assist in the project management of the financial disclosures of the Annual Report ensuring all financial information is internally consistent, accurate and complies with Group’s accounting policies and disclosed guidelines, in line with the Corporate timetable.
- Preparation and review of specific notes in the Annual Report and the completion of relevant working schedules.
- Liaising with External Auditors during all audit phases (Quarterly and Annual). Acting as an interface with internal and external auditing activities regarding the Group consolidation process during the year end and hard close audits.
- Support appropriate communication throughout the Group of changes to accounting and reporting requirements and delivery of training activity if required
- Preparation and maintenance of relevant consolidation process documentation to meet Sarbanes-Oxley requirements specifically allocated to the role.
- Note: Work only relates to consolidated reporting, not to statutory reporting of any individual companies
This role needs to actively manage key processes and engage stakeholders at all levels of the organisation, including to the level of the Group CFO. It is important that this role takes ownership of the work, including the required inputs, processes and outputs, and drives projects and process improvement.
The role must work closely with other Corporate Finance Groups and many other teams in GSK. Part of the finance team in Corporate Reporting is based offshore. Many working relationships are not formal and/or are not direct reports/direct manager relationships, and therefore the role requires the capability to build relationships and influence people. The role will operate across the whole of the GSK Group and within a complex (matrix) and with managing multiple, and sometimes competing, priorities.
The role requires a good understanding of consolidation and the issues that arise in this area, as well as technical accounting competence. Understanding of GSK accounting policies as they should be applied at an Operating Unit/Legal Entity level will also be developed in the role.
Academic and technical skills:
- Educated to degree level
- Member of a professional accounting organisation (eg ICAEW; CIMA; ACCA).
- Experience including multi-national group consolidations as well as experience and appreciation of the culture of very large organisations would be advantageous
- High degree of competence in financial accounting and reporting as well as knowledge of current accounting standards (IFRS), in particular IFRS 3 Business Combinations, IAS 36 Impairment of Assets, IAS 38 Intangible assets and IAS 7 Statement of Cashflows.
- The following skills and capabilities should have been demonstrated in prior experience:
- Organisational skills, prioritising and meeting deadlines
- Ability to work independently and manage multiple priorities
- The role involves interaction with many stakeholders and therefore good relationship building and influencing skills are important to be successful in this role
- Communication for results: The role prepares information for external and internal ‘customers’ including the most senior people in finance in GSK and as such flexible communication skills are required to present information depending on the customers’ specific needs and focus
- A high degree of ownership and ability to drive processes and projects: Initiate and assist in improvements to reporting processes and challenge existing accounting treatments and reporting processes, in order to improve quality of reported information. The role is responsible to drive projects and annual processes using resources available in GSK.
- Accuracy / attention to detail / integrity in producing results is essential
- Identifying the need for and responding quickly to change.
All profiles will be reviewed against the required skills and experience. Due to the high number of applications, we will only be able to respond to successful applicants in the first instance. We thank you for your interest and the time taken to apply.