Position Purpose & Summary
The Compensation COE is a team within Cargill's Corporate Accounting & Finance (A&F) group. The COE is responsible for the Accounting & Reporting and payments for Cargill's highly confidential executive compensation, including all classes of Cargill stock and long-term incentive plans (LTIP). The team routinely liaises with multiple stakeholder's across Cargill including HR, Law, FP&A, Tax, Treasury, Decision Support and Controls and Cargill's shareholders.
This position leads the Compensation COE. This position has expert knowledge of compensation accounting under ASC 718 along with a strong understanding the related tax impacts and regulations. Other responsibilities include developing effective working relationships with the LTIP cross functional team, other teams within Corp A&F and the Accounting & Reporting leads around the world. This role is responsible for the fiduciary results of the LTIP and approximately $1 billion of payment operations, while actively promoting the value of a strong control framework. This position aids in resolving complex LTIP scenarios, accounting and financial reporting issues; assisting in the implementation of updates to the compensation and accounting systems; initiating and implementing process improvements and leading projects for the COE.
40% Equity Compensation Accounting, Advisory and Partnering
- Applies an understanding of principles and techniques, evaluates and analyzes financial statements. Keeps pace with changing relevant GAAP standards and tax regulations.
- Provides leadership to complete activities which include: Financial Reporting, including the global LTIP expense and recharge calculations, incentive accruals and reconciliations and the Corporate ESOP accounting. Also includes P&L analysis and commentary, allocations, reconciliations, budgeting and the monthly financial close.
- The Compensation COE will be the key customer for the HR-Total Compensation team, and will work in close partnership with HR, Law, FP&A, Tax, Decision Support, Controls, internal and external auditors.
- Holds self and others on team accountable for delivering results and driving the continuous improvement of finance activities.
- Aligns with and is Systems Administrator for internal and third-party systems that provide effective and efficient operations; reliable financial reporting; and compliance with laws, regulations and corporate policies.
- Reviews and approves monthly JDE journal entries, account reconciliations, quarterly financial reporting and tax supplemental schedules, annual Financial Statement disclosures and financial metrics such as Cargill's Earnings Per Share.
- Prepares and distributes the monthly Cargill Book Value, quarterly Dividend Per Share and grant date fair value calculations. Completes ad-hoc current or historical financial analysis of Cargill's equity transactions, such as LTIP, Stock and Dividends as requested by Finance or Cargill Leadership.
- Develops and implements global accounting policies and procedures for Cargill's LTIP and short-term incentives.
- Performs miscellaneous compensation operations, including ongoing handling of taxable fringe benefits for Cargill's corporate aircraft and Cargill Inc - Admin spouse travel.
- Maintains compliance with Cargill's new control framework for the Compensation COE.
30% Shareholder Payments, Tax-Related Forms and Relations
20% Continuous Improvement
- Provides leadership for the payment of and the accounting for all quarterly stock redemptions and dividends (approximate annual payments of $1 billion), preparation of the related calendar year 1099-Div and 1099-B forms and the maintenance of the secure shareholder banking information.
- The Compensation COE will be the key customer for the HR-Total Compensation team, and will work in close partnership with HR, Law, Tax and Treasury, internal and external auditors.
- Expertise in and is Systems Administrator for multiple internal and third-party systems that provide accurate and timely payment and tax information; reliable reporting; and compliance with laws, regulations and corporate policies.
- Reviews and is payment approver for all quarterly dividend and redemption transactions, banking templates, JDE journal entries, the finalized 1099 forms and quarterly transactional reports.
- Primary point of contact for Cargill management/retiree shareholder 1099-Div or 1099-B inquires.
- Understands and implements the accounting or payment requirements related to unique corporate equity transactions, such as stock splits or redemptions and equity restructurings.
- Maintains compliance with Cargill's new control framework for the payment and banking activity.
10% Coach and Develop Talent
- Serves as team lead driving the process to identify, initiate, implement and document continuous improvements in key financial and payment processes.
- Guides the development and deployment technical solutions, such as third-party software from inception to completion of the project.
- Conducts routine planning activities to create effectiveness in quarterly team workflows and priorities.
- Partners with other finance and human resources leads.
- Provides coaching, training, and mentoring to others on technical compensation accounting or related topics.
Education, Experience, Skills
- Four-year Bachelor's degree in accounting
- Minimum of 8 years of relevant accounting experience
- Strong technical accounting experience,