Tootsie Roll Industries
Overview
Tootsie Roll Industries, Inc. has been manufacturing iconic confectionary brands such as Tootsie Roll, Tootsie Pops, Blow Pops, Dots, Dubble Bubble, Junior Mints, Andes, and Charleston Chew for over a century. The Company depends on the Financial Reporting Manager for accurate, relevant and timely financial reporting. The Financial Reporting Manager owns the process of compiling the Company’s quarterly and annual financial statements filed with the Security Exchange Commission ("SEC") and monthly internal financial reporting as well as the Company’s program for administering the annual assessment of internal control effectiveness in accordance with section 404 of the Sarbanes Oxley Act ("SOX"). The role presents a unique opportunity to own an entire vertical given the size of the business and carries broad visibility with the C-Suite and significant shareholders. The Financial Reporting Manager must be able to adhere to internal and external deadlines while incorporating input from multiple sources. It is important to cultivate strong relationships with internal stakeholders to know what questions have not been asked and to collaborate with cross-functional teams to efficiently gather necessary information. The successful candidate will pull from a strong finance and accounting background to optimize processes, implement best practices and ensure the integrity and utility of the financial information generated while building an ability to distill the reported results in order to identify opportunities to improve financial performance. The right candidate will be instrumental in molding the future of the Company’s Corporate finance function as a trusted advisor to management supported by a culture based on tradition, respect and trust.
Role responsibilities & highlights Internal Reporting
Subject matter expert on the Company’s structured data for financial reporting purposes; ability to clarify and tailor reports for internal cross-functional stakeholders including executives.
Owns the author role for all financial reporting out of Hyperion FCC Cloud; expert user of SmartView reporting tools to ensure both the integrity and timeliness of internal reporting.
Author and compile the financial reports used in the monthly reporting package provided to leadership and the board.
Thought leader in the next evolution of internal reporting using business intelligence tools that leverage automated intelligence capabilities to improve the relevance, efficiency, and integrity of the solution and process.
Record journal entries and reconcile balances related to certain information flows including the presentation of rents and royalties and transactions affecting equity, insurance, workers’ compensation obligations, investment activity, investment valuations, etc.
The scope and depth of managed information along with access to the Company’s Business Intelligence tools presents the opportunity to add additional value-add analysis and insights.
External Reporting
Own the quarterly SEC reporting process from draft through review to audit and filing of the Company’s Form 10-Q and 10-K reports, 8-K issuances, and the annual Proxy statement.
Identify, quantify the impact of, and implement procedural or reporting changes to adopt applicable Accounting Standards Updates (ASUs) that affect financial information and disclosures.
Prepare the Company’s Consolidated Statement of Cash Flows and own any adjustments bridging management reporting to US GAAP reporting as presented in SEC filings.
Provide auditors information upon request, notably providing support as needed for footnotes and financial information included in SEC filings.
Own and leverage the relationship with the Company’s publisher, Toppan Merrill ("Merrill"), to prepare and file the Company’s SEC filings including coordinating Merrill’s iXBRL tagging services; expert user of Merrill’s Microsoft Office "Bridge" platform for all EDGAR submissions.
Responsible for compliance with the Company’s accounting and reporting policies in line with US GAAP and in accordance with the Company’s framework of internal control over financial reporting under SOX.
Compliance
Coordinate management’s annual assessment of its internal control over financial reporting in accordance with the Sarbanes Oxley Act of 2004 ("SOX"). The Company uses a third-party accounting firm to execute the testing program; efficient coordination of the third-party and independent auditor (Grant Thornton) efforts is critical to successfully meet filing deadlines.
Provide input on the design of the Company’s internal control over financial reporting; add, remove, or change key controls as agreed upon with team leadership.
Support the tax department with quarterly income tax analysis and review including deferred tax as well as preparing and providing key information for use in the income tax process; prepare support for transfer pricing analyses and direct the recording of any necessary adjustments, prepare estimates of domestic pre-tax income for use in preparing estimated tax payments and prepare the annual reconciliation of pre-tax earnings by legal entity to consolidated pre-tax earnings to support the annual tax provision.
Organizational structure
Reports to the Assistant Controller as a key member of the Corporate Accounting Team
Individual contributor as one of five team members that comprise the Corporate Controllership; no direct reports
Skills
Minimum 5 years of experience with US GAAP financial reporting and/or public accounting; minimum 3 years of experience auditing SEC clients or in SEC reporting
Bachelor’s degree from a nationally recognized university in accounting or equivalent required
Public accounting experience required; Big four experience and CPA preferred
Experience with manufacturing or consumer product group companies is a plus
Strong MS Excel, Word, and PowerPoint skills
Software / information systems
Hyperion FCC consolidation and reporting software
Oracle ERP Software
EDGAR / Toppan Merrill "Bridge"
Microsoft Office (MS Word, Excel and PowerPoint)
Oracle Business Intelligence or other business intelligence tools (e.g. Power BI)
Competencies and abilities
Problem Solving:
ability to assess independently the integrity of financial data and the process of compiling it within complex reporting systems; analyze, distill, and communicate interpretive commentary on financial results and metrics
Communication:
ability to clearly articulate issues, associated analysis and solutions clearly in both written and oral form
Leadership:
capable of taking the lead in the resolution of reporting issues and gain the commitment of others without direct reporting responsibility
Team Commitment:
capable of gaining respect from others, to share ideas openly and to support team decisions; willingness to cross functional boundaries as part of a corporate accounting team with shared deadlines to meet expectations
Collaboration:
patience to understand current processes and practices coupled with the experience and persuasiveness to propose and implement best practices appropriate for the Company and culture
Note: This refined description omits extraneous postings, referr al prompts and non-essential lines while preserving the core responsibilities and qualifications relevant to the Financial Reporting Manager role.
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Tootsie Roll Industries, Inc. has been manufacturing iconic confectionary brands such as Tootsie Roll, Tootsie Pops, Blow Pops, Dots, Dubble Bubble, Junior Mints, Andes, and Charleston Chew for over a century. The Company depends on the Financial Reporting Manager for accurate, relevant and timely financial reporting. The Financial Reporting Manager owns the process of compiling the Company’s quarterly and annual financial statements filed with the Security Exchange Commission ("SEC") and monthly internal financial reporting as well as the Company’s program for administering the annual assessment of internal control effectiveness in accordance with section 404 of the Sarbanes Oxley Act ("SOX"). The role presents a unique opportunity to own an entire vertical given the size of the business and carries broad visibility with the C-Suite and significant shareholders. The Financial Reporting Manager must be able to adhere to internal and external deadlines while incorporating input from multiple sources. It is important to cultivate strong relationships with internal stakeholders to know what questions have not been asked and to collaborate with cross-functional teams to efficiently gather necessary information. The successful candidate will pull from a strong finance and accounting background to optimize processes, implement best practices and ensure the integrity and utility of the financial information generated while building an ability to distill the reported results in order to identify opportunities to improve financial performance. The right candidate will be instrumental in molding the future of the Company’s Corporate finance function as a trusted advisor to management supported by a culture based on tradition, respect and trust.
Role responsibilities & highlights Internal Reporting
Subject matter expert on the Company’s structured data for financial reporting purposes; ability to clarify and tailor reports for internal cross-functional stakeholders including executives.
Owns the author role for all financial reporting out of Hyperion FCC Cloud; expert user of SmartView reporting tools to ensure both the integrity and timeliness of internal reporting.
Author and compile the financial reports used in the monthly reporting package provided to leadership and the board.
Thought leader in the next evolution of internal reporting using business intelligence tools that leverage automated intelligence capabilities to improve the relevance, efficiency, and integrity of the solution and process.
Record journal entries and reconcile balances related to certain information flows including the presentation of rents and royalties and transactions affecting equity, insurance, workers’ compensation obligations, investment activity, investment valuations, etc.
The scope and depth of managed information along with access to the Company’s Business Intelligence tools presents the opportunity to add additional value-add analysis and insights.
External Reporting
Own the quarterly SEC reporting process from draft through review to audit and filing of the Company’s Form 10-Q and 10-K reports, 8-K issuances, and the annual Proxy statement.
Identify, quantify the impact of, and implement procedural or reporting changes to adopt applicable Accounting Standards Updates (ASUs) that affect financial information and disclosures.
Prepare the Company’s Consolidated Statement of Cash Flows and own any adjustments bridging management reporting to US GAAP reporting as presented in SEC filings.
Provide auditors information upon request, notably providing support as needed for footnotes and financial information included in SEC filings.
Own and leverage the relationship with the Company’s publisher, Toppan Merrill ("Merrill"), to prepare and file the Company’s SEC filings including coordinating Merrill’s iXBRL tagging services; expert user of Merrill’s Microsoft Office "Bridge" platform for all EDGAR submissions.
Responsible for compliance with the Company’s accounting and reporting policies in line with US GAAP and in accordance with the Company’s framework of internal control over financial reporting under SOX.
Compliance
Coordinate management’s annual assessment of its internal control over financial reporting in accordance with the Sarbanes Oxley Act of 2004 ("SOX"). The Company uses a third-party accounting firm to execute the testing program; efficient coordination of the third-party and independent auditor (Grant Thornton) efforts is critical to successfully meet filing deadlines.
Provide input on the design of the Company’s internal control over financial reporting; add, remove, or change key controls as agreed upon with team leadership.
Support the tax department with quarterly income tax analysis and review including deferred tax as well as preparing and providing key information for use in the income tax process; prepare support for transfer pricing analyses and direct the recording of any necessary adjustments, prepare estimates of domestic pre-tax income for use in preparing estimated tax payments and prepare the annual reconciliation of pre-tax earnings by legal entity to consolidated pre-tax earnings to support the annual tax provision.
Organizational structure
Reports to the Assistant Controller as a key member of the Corporate Accounting Team
Individual contributor as one of five team members that comprise the Corporate Controllership; no direct reports
Skills
Minimum 5 years of experience with US GAAP financial reporting and/or public accounting; minimum 3 years of experience auditing SEC clients or in SEC reporting
Bachelor’s degree from a nationally recognized university in accounting or equivalent required
Public accounting experience required; Big four experience and CPA preferred
Experience with manufacturing or consumer product group companies is a plus
Strong MS Excel, Word, and PowerPoint skills
Software / information systems
Hyperion FCC consolidation and reporting software
Oracle ERP Software
EDGAR / Toppan Merrill "Bridge"
Microsoft Office (MS Word, Excel and PowerPoint)
Oracle Business Intelligence or other business intelligence tools (e.g. Power BI)
Competencies and abilities
Problem Solving:
ability to assess independently the integrity of financial data and the process of compiling it within complex reporting systems; analyze, distill, and communicate interpretive commentary on financial results and metrics
Communication:
ability to clearly articulate issues, associated analysis and solutions clearly in both written and oral form
Leadership:
capable of taking the lead in the resolution of reporting issues and gain the commitment of others without direct reporting responsibility
Team Commitment:
capable of gaining respect from others, to share ideas openly and to support team decisions; willingness to cross functional boundaries as part of a corporate accounting team with shared deadlines to meet expectations
Collaboration:
patience to understand current processes and practices coupled with the experience and persuasiveness to propose and implement best practices appropriate for the Company and culture
Note: This refined description omits extraneous postings, referr al prompts and non-essential lines while preserving the core responsibilities and qualifications relevant to the Financial Reporting Manager role.
#J-18808-Ljbffr