Flowserve Corporation Regional COE Manager in IRVING, Texas

Company Overview:

Flowserve is the recognized world leader in supplying pumps, valves, seals, automation, and services to the power, oil, gas, chemical, and other industries. With more than 18,000 employees in more than 55 countries, we combine our global reach with a local presence.

Position Description:

The Regional COE Manager will perform the following duties:

  • Responsible for oversight of several COEs that provide contract analysis and POC accounting support to many other facilities within the region

  • Monitor workload volume across multiple COE locations, provide reporting to multiple levels within organization, and make recommendations for continuous structural improvement

  • Responsible for coordination with Site and Regional/Sector Controllers to ensure COE workload is completed timely, including identifying and elevating issues that may compromise deadlines

  • Develop and implement processes to standardize COE activities, ensure consistent documentation of contract analysis, share of best practices across different COEs, and identify areas forimprovement

  • Track issues encountered by COEs, develop tools to monitor performance, and prepare reporting to various internal stakeholders

  • First level of escalation to resolve issue in contract review including unusual or ambiguous terms, policy questions, and judgmental areas through consultation with business leaders

  • Ensure internal controls are in place and operating effectively across COE

  • Perform certain Quality Assurance activities/controls over contracts and POC accounting (e.g. Q&A with sites around cost estimates, analytics on POC margins, reconciliation to BPC and other review practices or internal control checkpoints)

  • Work with Site Controllers to monitor COE staff performance, identify training and support needs, coaching team members, and provide periodic formal and informal feedback

  • Identify additional review or support activities to increase value and comfort provided by COE structure (e.g. identifying POC process inconsistencies across sites, sharing best practices, etc.)

  • Ad-hoc responsibilities as assigned by the Supervisor

Scope of Responsibilities

Within his/her region ensure the COEs and SSS sites perform the necessary activities and tasks and provide

accounting assistance and support (SMEs) for the application of the new revenue recognition standards set forth under ASC 606.

This position will ensure the 5 Step Process as follows is performed in all the locations within the region:

1- Identify the contract with the customer

2- Identify the separate performance obligations in the contract

3- Determine the transaction price

4- Allocate the transaction price to the separate performance obligations

5- Recognize revenue when (or as) each performance obligation is satisfied

Contract review

  • Support the COEs and SSSs during the initial review of the contract

  • Evaluate for contract combination across sites and regions

  • Ensure the COEs and SSSs properly document facts and circumstances and rationaleused to arrive to conclusions

  • Ensures contracts are timely approved

With regards to contracts that have at least one Overtime-POC POb, support the COEs or SSSs to ensure the inputs in the Revenue Compliance System (RCS) are accurate and complete, including periodic reviews for:

• Site conducts Project Reviews in support of the EAC

• There are adequate mechanisms to control incurred cost and EAC

• Controls for review of potential loss position

• Controls exist for completeness and accuracy of other balance sheet and supplemental data

Accounting for Over-time

  • Ensures completeness of contracts in PolicyIQ

  • Periodically attend in site’s Project Review meetings as needed (i.e. large, complex or problematic contracts; as part of periodical visits)

  • Performs reasonability analysis of changes in estimates (initial vs SAP; subsequent vis-à-vis prior periods; vis-à-vis actual costs) to understand reasons and ensure minimization of Out of Period adjustments

  • Ensures reported figures in BPC reconcile to RCS

Additionally, this position will be involved in assisting the COEs and SSSs to meet the disclosure

requirements of the new revenue standard including but not limited to the following:

• Presentation of contract assets and contract liabilities, including roll-forward

• Sales by product type (original manufacturer versus after-market) and sales by region

• Backlog by fulfillment date

Position Requirements:

Position Specific

Accountabilities/Skill Sets (not all inclusive)

  • Highly specialized professionals

  • Exercise professional judgement and skepticism

  • Apply sound judgement

  • Maintains a continuous improvement (CIP) mentality

  • Proactively identify process improvements

  • Maintains frequent communications with the sites its supports on projects, evolution, changes in scope, status, etc.

  • Might need to participate in project reviews

  • Ability to work independently without close supervision

  • Self-starter

Requirements and experience :

  • BS/BBA in Accounting, CPA preferable

  • 10+ years of accounting

  • in industrial manufacturing companies with international locations within the last 5 years

  • dealing with Revenue Recognition (ASC605 or ASC606)

  • working in a controlled environment (i.e. subject to SOX or equivalent requirements)

  • analyzing and reviewing complex arrangements or contracts or POs with customers

  • supervising people

Preferences:

NA

Job Posting/Business Card Title:

Regional COE Manager

Percentage of Approximate Travel Required:

15%

Job Posting Category:

Finance & Accounting

Primary Posting Location:

IRVING, Texas US

Employment Type:

Full time

Relocation Eligible:

No

Country:

United States

Auto req ID:

44116BR

44116BR

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