Morningstar, Inc.
The Group
Morningstar's Corporate Finance plays an essential role in supporting our company's strategic initiatives, day-to-day operations, and infrastructure. Morningstar is looking for a Senior Accountant to join our Americas Revenue and Receivables team which is focused on business partnership, innovation, automation, and process improvements.
The Role In this role, you will be responsible for the Americas quote to cash (QTC) Asset-Based Revenue results. You will work collaboratively with multiple departments (sales, shared services, product, legal, etc.) to execute on the QTC process - from contract initiation to revenue/receivables - as well as to assess and improve the QTC process. This position is a full-time position based in Chicago, reporting to the Americas Manager Revenue and Receivables- Transaction and Asset Based Fees.
Job Responsibilities
Oversee the Asset-Based revenue close process for the Americas to ensure timely and accurate reporting in accordance with US GAAP and internal control requirements.
Review draft revenue contracts to ensure revenue is recognized in accordance with ASC 606 and participate in draft contract reviews to identify potential revenue recognition issues.
Audit complex contract data against opportunity information entered in the Company's Salesforce CRM application to ensure accuracy of information used for internal and external reporting.
Perform variable consideration calculations for Asset-Based fee contracts.
Review Accounts Receivable and unapplied cash balances for asset-based clients to ensure timely payment application.
Conduct process reviews, perform internal controls testing, remediate control failures and proactively assess changes to the overall control environment.
Assist in the preparation of revenue disclosures for external financial reporting to ensure compliance with US GAAP and external reporting requirements.
Review and manage month-end revenue accruals, monthly revenue reports and account reconciliations.
Participate in cross-functional project teams formed to address business process improvements in the revenue and receivable area.
Initiate, review, and implement process improvements to increase operational efficiencies while maintaining the integrity and accuracy of the accounting records.
Work closely with the Company's external auditors on revenue recognition and related controls and manage quarterly and annual audit requirements.
Other duties as assigned, including cross-training on other revenue segments within the Americas QTC organization.
Requirements
Bachelor's degree in accounting or a related field; CPA or CPA candidate preferred.
Minimum 5 years of experience in an accounting or related position.
In-depth knowledge of US GAAP and revenue accounting and subject matter expertise in ASC 606.
Familiarity in applying revenue recognition principles related to software, service contracts, assets under management and multiple element deliverables.
Excellent analytical, problem-solving, and communication skills.
Ability to work collaboratively with global teams and stakeholders.
Experience with Salesforce and Oracle is a plus.
CPA or equivalent accounting certifications a plus.
Background in asset-based fee calculations or finance industry is a plus.
Compensation and Benefits
Financial Health
75% 401k match up to 7%
Stock Ownership Potential
Company provided life insurance - 1x salary + commission
Physical Health
Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
Additional medical Wellness Incentives - up to $300-$600 annual
Company-provided long- and short-term disability insurance
Emotional Health
Trust-Based Time Off
6-week Paid Sabbatical Program
6-Week Paid Family Caregiving Leave
Competitive 8-24 Week Paid Parental Bonding Leave
Adoption Assistance
Leadership Coaching & Formal Mentorship Opportunities
Annual Education Stipend
Tuition Reimbursement
Social Health
Charitable Matching Gifts program
Dollars for Doers volunteer program
Paid volunteering days
15+ Employee Resource & Affinity Groups
Total Cash Compensation Range $95,275.00 - 161,975.00 USD Annual
Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.
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The Role In this role, you will be responsible for the Americas quote to cash (QTC) Asset-Based Revenue results. You will work collaboratively with multiple departments (sales, shared services, product, legal, etc.) to execute on the QTC process - from contract initiation to revenue/receivables - as well as to assess and improve the QTC process. This position is a full-time position based in Chicago, reporting to the Americas Manager Revenue and Receivables- Transaction and Asset Based Fees.
Job Responsibilities
Oversee the Asset-Based revenue close process for the Americas to ensure timely and accurate reporting in accordance with US GAAP and internal control requirements.
Review draft revenue contracts to ensure revenue is recognized in accordance with ASC 606 and participate in draft contract reviews to identify potential revenue recognition issues.
Audit complex contract data against opportunity information entered in the Company's Salesforce CRM application to ensure accuracy of information used for internal and external reporting.
Perform variable consideration calculations for Asset-Based fee contracts.
Review Accounts Receivable and unapplied cash balances for asset-based clients to ensure timely payment application.
Conduct process reviews, perform internal controls testing, remediate control failures and proactively assess changes to the overall control environment.
Assist in the preparation of revenue disclosures for external financial reporting to ensure compliance with US GAAP and external reporting requirements.
Review and manage month-end revenue accruals, monthly revenue reports and account reconciliations.
Participate in cross-functional project teams formed to address business process improvements in the revenue and receivable area.
Initiate, review, and implement process improvements to increase operational efficiencies while maintaining the integrity and accuracy of the accounting records.
Work closely with the Company's external auditors on revenue recognition and related controls and manage quarterly and annual audit requirements.
Other duties as assigned, including cross-training on other revenue segments within the Americas QTC organization.
Requirements
Bachelor's degree in accounting or a related field; CPA or CPA candidate preferred.
Minimum 5 years of experience in an accounting or related position.
In-depth knowledge of US GAAP and revenue accounting and subject matter expertise in ASC 606.
Familiarity in applying revenue recognition principles related to software, service contracts, assets under management and multiple element deliverables.
Excellent analytical, problem-solving, and communication skills.
Ability to work collaboratively with global teams and stakeholders.
Experience with Salesforce and Oracle is a plus.
CPA or equivalent accounting certifications a plus.
Background in asset-based fee calculations or finance industry is a plus.
Compensation and Benefits
Financial Health
75% 401k match up to 7%
Stock Ownership Potential
Company provided life insurance - 1x salary + commission
Physical Health
Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
Additional medical Wellness Incentives - up to $300-$600 annual
Company-provided long- and short-term disability insurance
Emotional Health
Trust-Based Time Off
6-week Paid Sabbatical Program
6-Week Paid Family Caregiving Leave
Competitive 8-24 Week Paid Parental Bonding Leave
Adoption Assistance
Leadership Coaching & Formal Mentorship Opportunities
Annual Education Stipend
Tuition Reimbursement
Social Health
Charitable Matching Gifts program
Dollars for Doers volunteer program
Paid volunteering days
15+ Employee Resource & Affinity Groups
Total Cash Compensation Range $95,275.00 - 161,975.00 USD Annual
Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.
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