The Accounting Responsible for the Center of Excellence (CoE) is in charge to coordinate and manage the relationship with Group Technical Accounting, Corporate Finance, Local Finance (CFS), ICT Dept. and the services provider Global Business Services (“GBS”) in order to promote/ensure that various accounting matters are treated in a consistent way within the Group/Region.
He/She is mainly in charge to:
- cooperate for the proposal, drafting, and implementation of Marelli Finance policies and procedures, in order to ensure that the main kind of transactions are treated in a consistent way within Marelli Group, highlighting peculiarities in the APAC Region, if any
- support Corporate Finance in the Balance Sheet Review focused on understating and monitoring the main balance sheet captions (content, variance, the difference in accounting principles from local GAAPs and IFRS, if any);
- support Corporate Finance in defining the new accounting flows triggered by the adoption of new International Financial Standards (“IFRS”) or new transactions;
- support Corporate Finance in monitoring the Chart of Accounts adopted by the various reporting entities using different accounting systems (e.g. SAP FI-CO, IFS, QAD), avoiding the proliferation of accounts and promoting the adoption of a standard Marelli model: e.g. local GAAPs and IFRS adjustments should be managed within the same Chart of Accounts, instead of using excel spreadsheets to manage the IFRS adjustments for Group reporting purposes;
- cooperate with Group consolidation Dept. in linking the local Chart of Accounts to the Group reporting accounts set up in Enterprise HFM system, in order to ensure that the transactions are presented in the Group reporting captions on a consistent basis;
- periodically review the reconciliations between the net equity as per the Group reporting package and the net equity as per local statutory accounts, recommending improvements and highlighting issues, if any, to Corporate Finance;
- provide substantial support for the implementation and ongoing maintenance of the tools running the Manual Journal Entries (review and approval workflow) and Account Reconciliations, if any, ensuring that the processes comply with good control practices;
- cooperate with the other Center of Excellence members acting as one sole Global team, provide required support where needed;
- interact with ICT Dept. to incorporate the agreed changes affecting the Chart of Accounts in the accounting systems;
- support the GBS Process Depts (PtP, OtC and RtR), the CFS and the Finance Divisions’ controllers in designing the controls aimed to improve the control environment over the financial reporting (“ICFR”).