Philips India Limited is a subsidiary of Royal Philips of the Netherlands, a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology, deep clinical, and consumer insights to deliver integrated solutions. The company is a leader in diagnostic imaging, image-guided
Therapy, patient monitoring and health informatics, as well as in consumer health and home care.
About Philips Global Business Services (GBS)
Philips Global Business Services delivers excellence in the execution of business services, enabling an agile repeatable framework to leverage market opportunities that contribute to extending our leadership as a Health Technology company. Our people are a key part of the transformation program in Philips and at GBS, you become part of a global team of professionals that form the backbone of this journey.
Main purpose of the role
The Accounting Controller Co-owns the Financial statements Integrity of the ORU/ORUs he is responsible for along with the Business Partner. As an expert on the Accounting topics for the ORUs in scope, he is responsible to ensure accounting integrity through a) Review of Financial statement and monitoring b) Take decisions on Accounting policy questions and advice business on Accounting Topics c) Pro-actively manage risk in Financial statements d) Process audit and ICS Oversight d) Provide leadership to the AS Team based out of Chennai for the ORUs in scope.
Position in the organization
The position reports administratively to the RTR Global lead in GBS Chennai and functionally to the Market Lead of Accounting Operations for the Market. The role will have dotted reporting line for the Accounting Specialists to work for the ORU he is allocated to (3-4 FTE). He will also guide the relevant Infosys colleagues working within RTR for the ORUs in scope (3-4 FTE)
Key areas of accountability
Takes co-responsibility with the Business Partner(s) (BP) over the integrity of financial and management reporting, and work to proactively advise the BP on the impact of accounting standards on different business scenarios.
Interacts closely with the business to proactively advise on accounting requirements for business events in order to drive better business decisions by making early determinations on the impact of accounting guidance.
Proactively identifies risks to the financial processes, and works with stakeholders inside and outside of Finance to address identified risks and financial process issues.
Determines accounting treatment for events and transactions of a complex, unique, and/or judgmental accounting nature, as well as to apply new/revised accounting policies in consultation with Technical Accounting and Oversight (TA&O).
Required to review the trial balance (TB) and closing topics (Pre-MEC) in the monthly process, and lead the risk based Financial Reporting Review (FRR).
Proactively monitors the BSARs, MEC and Finance and ICS audits. This includes working across finance and non-finance teams to address and close issues timely, review account documentation, and ensure reporting timelines are met.
As the main point of contact for the business over the RTR processes, responsible to collaborate with the BP to ensure business requirements are captured and that stakeholders are updated on the status of KPIs and on resolution of accounting and process issues.
Leads resolution of RTR issues, and will coordinate both RTR (AS, Global Hub, other AccOps pillars and Infosys) and with non-RTR counterparts (e.g. BP, Supply Chain, Purchasing, HR, etc.) to drive resolution of issues and to build stronger processes.
Builds knowledge over business requirements, financial accounting processes and the underlying Market/BG processes within the Finance and non-Finance community, and keep the organization updated on business developments relevant to accounting processes and accounting integrity.
Manages processes using LEAN tools, and use LEAN methods to address process issues and problems to address root causes and not just address the symptoms
Key Performance Indicators
Operational KPI’s (MEC Performance Index, BSAR Quality Index)
Internal control issues and audit issues
Accounting incidentals and corrections
Annual cost targets and productivity improvements
Job Knowledge, Skills & Experience:
7+ years of progressive working experience and roles in e.g. Finance, FP&A, financial control, within an international environment.
Strong and formal IFRS knowledge
Strong Excel skills and SAP knowledge preferred
Strong knowledge of internal control processes and systems
Preferably having audit or consulting experience from “Big 4” firms.
Frequently interacts with customers, and/or functional peer group managers, normally involving matters between functional areas, other company divisions or units, or customers and the company.
Has full understanding of company processes relevant to financial accounting
Often must lead a cooperative effort among members of a project team.
Has detailed knowledge of SAP functionalities and Accounting standards and policies to be able to act as a Problem solver/ Advisor for Acc Ops, Infosys and Business stakeholders
Strong Communication skills
Take ownership of E2E Accounting process where the position does not have direct control, but has ability to influence other processes to meet objectives
Strong ability to build collaborative relations
Key Challenges & Complexity
• Works on problems of diverse scope where analysis of data requires evaluation of identifiable factors.
Demonstrates good judgment in selecting methods and techniques for obtaining solutions.
Networks with senior internal and external personnel in own area of expertise..
Manage discussions with Internal auditors and external auditors on accounting topic
Serves as an escalation point/ point of contact for all stakeholders for issues/ new topics/ questions and is expected to connect with relevant processes to meet objectives
As Co-signor of Accounting statements, needs to ensure has an E2E knowledge of not only Accounting topics related to ORUS in scope but full understanding of the business situations, deals and risks to be able to ensure Accounting integrity
In return, we offer you
A challenging, innovative environment with great opportunities to explore. Our benefits are very competitive and designed around your preferences:
A rewarding career in Philips with attractive package. `
A variable bonus based on both Philips results and personal performance
Extensive set of tools to drive your career, such as a personal development budget, free training and coaching
Attractive collective health insurance package
Opportunity to buy Philips shares and products with discount
Why should you join Philips?
Working at Philips is more than a job. It’s a calling to create a healthier society through meaningful work, focused on improving 3 billion lives a year by delivering innovative solutions across the health continuum. Our people experience a variety of unexpected moments when their lives and careers come together in meaningful ways. Learn more by watching this video.
To find out more about what it’s like working for Philips at a personal level, visit the Working at Philips page on our career website, where you can read stories from our employee blog. Once there, you can also learn about our recruitment process, or find answers to some of the frequently asked questions.