Company Overview:
Party City Holdco Inc. (PCHI) is a global leader in the celebrations industry, with its offerings spanning more than 70 countries around the world. PCHI is also the largest vertically integrated designer, manufacturer, distributor, and retailer of party goods in North America.
PCHI team members demonstrate a daily commitment to the company's Brand Purpose: to inspire joy by making it easy for customers to create unforgettable memories.
PCHI operates across multiple businesses within its Retail Division and Consumer Products Division. On the retail side, Party City (partycity.com) is the leading omnichannel retailer in the celebrations category, operating more than 800 company-owned and franchise stores, as well as Halloween City (halloweencity.com) seasonal pop-up stores. The Consumer Products Division includes design and manufacturing entities Amscan, an industry leader in celebration décor, tableware, costumes, and accessories, and Anagram, the global market leader in foil balloons.
PCHI is headquartered in Woodcliff Lake, N.J. with additional locations throughout the Americas and Asia.
Job Overview:
Reporting to the Senior Vice President, Finance and Chief Accounting Officer, the Sr Director, Global Accounting & Operations Controller will lead all aspects of operations/consolidations accounting across the company, including working capital (AP, AR and Inventory Accounting). Responsibilities include regularly partnering with key team members to: (1) ensure accuracy of consolidations, close data and reporting, and effectively partner with the business to manage working capital (2) improve the processes and internal controls related to these areas. They will play an integral role interfacing with our Business Process Outsourcing provider (Infosys) and the outsourced Accounting team in India.
Responsibilities and Duties:
General Accounting and Operational Controllership
- Lead the general ledger and consolidations process for the company.
- Partner with Technical Accounting & Reporting and Inventory Accounting to ensure the timely preparation and accuracy of the financial statements.
- Partner closely with the business to address complex accounting issues.
- Integration of accounting activities by further standardizing practices at an Enterprise level.
- Responsible for accurate and timely monthly, quarter, and year-end accounting consolidations close process and relevant accounting activities.
- Produce or review supporting schedules and analysis, and produce financial reports & statements (trends, performance metrics, benchmarks).
- Detailed understanding, review, and approval of all intercompany entries (i.e., sales, inventory gross profit elimination, etc.); includes timely research and resolution of discrepancies; ability to train others to prepare and review entries.
- Detailed review of P&L and balance sheet accounts.
- Ensure business adherence to internal finance policies and controls including data and reporting standards and compliance (Sarbanes Oxley regulations, internal and external audits).
- Support operations side of annual external and statutory audits.
- Assist with and able to take accountability for detailed-oriented projects such as accounting system implementations, business process improvements and reporting and operational enforcement of policies, and procedures, and internal controls.
Accounts Payable
- Leader for the Accounts Payable(P2P) function.
- In collaboration with the Global Process Owner (GPO) reporting into this role, define and creates global policies and procedures for A/P.
- Drive performance improvements through the implementation of KPI’s and Dashboards.
- Partner closely with various internal stakeholders across the company to drive further process improvements.
- Lead the continued consolidation of business activities from a Business Unit approach to a combined PCHI Enterprise approach.
- Create a continuous improvement culture and facilitate the implementation of A/P best practices.
- Strong experience in Accounts Payable cycle; Vendor Master procedures, A/P maintenance and inquiries and Cash Disbursements.
Accounts Receivable
- Leader for the Accounts Receivable (ITC) function.
- In collaboration with the Global Process Owner (GPO) reporting into this role, define and creates global policies and procedures for A/R.
- Drive performance improvements through the implementation of KPI’s and Dashboards to closely track and report performance.
- Partner closely with various internal stakeholders across the company to improve timeliness of collections from customers.
- Lead the continued consolidation of activities from a Business Unit approach to a combined PCHI Enterprise approach.
- Create a continuous improvement culture and facilitate the implementation of A/R best practices.
- Strong experience in Accounts Receivable cycle; Credit Management, A/R maintenance and Cash Receipts process
Inventory and Cost Accounting
- Participate in and manage monthly corporate processes related to consolidations and eliminations of intercompany inventory and gross profit eliminations; must have a detailed understanding of the business cost accounting and inventory control functions, and involves frequent coordination with those teams; includes data gathering and analysis across the company's manufacturing, wholesale, and retail businesses
- Prepare, review, and conduct detailed analysis of inventory eliminations at the consolidated level; could include reviews of month end accounting close related activities such as balance sheet reconciliations, standard cost setting, inventory management, and related overhead absorptions
- Thoroughly understand and monitor accuracy of standard inventory costing, with robust variance analysis. Participates in the company's transfer pricing and contract manufacturing processes
- Reviews business unit E&O and other inventory reserves
- Reviews inventory and reserves on a consolidated basis; including comprehensive financial updates to management regarding inventory at the consolidated level by evaluating, analyzing, and reporting appropriate data points
- Work with business units to ensure accuracy of the physical inventory (including shrink) and reported results in compliance with internal controls; provide support/guidance to businesses, research solutions to improve inventory consolidation accounting processes, analysis of inventory variances in (raw materials, finished goods, Purchase Price Variance, Usage Variance, Efficiency Variance and Labor Rate Variance)
- Provides comprehensive financial updates to management regarding inventory and costing at the consolidated level by evaluating, analyzing, and reporting appropriate data points
- Contribute to the COGS and inventory budget and forecast
- Review, report and provide commentary/analysis of costs against prior periods, plan, and latest forecast, includes ad-hoc reporting, research on cost accounting questions and assistance with special projects as requested
- Contribute toward development and documentation of controls, processes and procedures related to inventory and cost accounting
