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Philips DA - Chief Accountant in Bucharest, Romania


In this role, you have the opportunity to:

Drive financial reporting and Compliance process for your scope of Organization including Tax and Statutory Compliance and ensure that it is executed in line with the local and global accounting guidelines and timelines.

You are responsible for:

Financial Accounting and Monthly Closing

  • Co-ordinating monthly accounting and closing processes managed by Third Party Service Providers or Philips teams situated across the globe. The Processes will include all accounting and payment/cash processing activities including R2R, Credit & Collections and P2P;

  • Ensuring timely and error free upload of Financials and Statisticals into Global consolidation tool (BCS) including resolving any errors or corrections needed;

  • Reviewing health of Balance sheet by ensuring timely review of Balance sheet positions and ensure that correct and first time right accounting for units in scope;

  • Ensuring Adequate internal controls are in place for processes impacting Financial reporting to meet Global and Local Compliance requirements.

Tax Compliance

  • Ensuring compliance with Indirect and Direct tax regulations in the country in scope by working with the Service providers and Local teams;

  • Acting as point of Contact for local tax/regulatory bodies on compliance topics and take responsibility for resolving any queries/demands from tax/ regulatory bodies.

Statutory Accounting and Reporting

  • Staying up to date with changes on statutory rules and regulations (close cooperation with PWC experts) to be able to assess business impact;

  • Translating IFRS/GAAP accounts to Local GAAP via statutory adjustments;

  • Providing accurate, completed & timely data for statutory reporting, fiscal reporting and other requirements;

  • Managing on local level Operating Model for Statutory Reporting/Corporate Income Tax;

  • Contact point for Third party service providers on Stat Compliance (If any) and local authorities (if applicable);

  • Managing Statutory and Periodic Internal Audits on Statutory and Group Financial Audits;

  • First contact point for external and/or internal auditors for Financial reporting;

  • Fulfilling requests from regulatory & tax authorities- provide support during fiscal audits;

  • Co-ordinating Direct tax related entries/ posting with Corporate Income tax department and ensuring Tax audits, as applicable are fully supported;

  • Driving any local requirements on Statutory compliance in terms of Board meetings, AGM/EGM of shareholders if applicable per local laws and any other country level reporting requirement;

  • Completing Internal Controls work according to Internal Control Standards on a timely and accurate basis and supervising ICS tasks related to Statutory Accounting;

  • Performing periodic reconciliation to substantiate the difference between the local statutory and the financial statements submitted for group reporting purposes.

Continuous Improvement and Standardization

  • Constantly looking and implementing improvement and standardization opportunities in the area of Financial Accounting and Statutory reporting and driving local implementation of Global initiatives in areas of Financial reporting;

  • Driving standardization/harmonization of Financial accounting ways of working by implementing Global Design/implementation initiatives to the maximum extent possible;

  • Developing KPI’s/measurements to effectively measure and monitor performance and regularly maintain KPIs and any improvement actions.

You are a part of Philips Domestic Appliances Finance RTR organization. You will report functionally to the EF Finance BP CEER and work closely with the Global Finance teams and the 3rd party service providers. As we value diversity, we have a multi-functional team, with different points of view, different ways of thinking, new capabilities to strengthen and improve the digital strategy for our customers.

To succeed in this role, you should have the following skills and experience:

  • University degree in Finance or equivalent;

  • At least 5 years of progressive work experience in area of Record2Report in a multinational group, with focus on Statutory Compliance;

  • At least 3 years of experience in a Chief Accountant position;

  • Experience in working with F&A Service Providers (outsourced accounting);

  • Experience in independently front ending Statutory audits;

  • Extended experience and knowledge in IFSR reporting;

  • Ability to work with Cross functional teams and influence colleagues outside own process domain to achieve timely completion of Statutory reporting;

  • SAP knowledge (FI, CO module);

  • Effective listening and communication skills, highly developed interpersonal skills;

  • Proactive and hands on attitude, goal oriented and perseverant;

  • Team oriented and process driven;

  • Fluent communication skills in English (both oral and written) is required.

In return, we offer you

A meaningful career, with new challenges in our dynamic organization, working in an encouraging multinational and multicultural environment. We are happy to provide you with this opportunity to work with new technologies. You will be surrounded by passionate and committed, colleagues who share your ambition to create outstanding customer experiences. Your work will be ambitious and full of opportunities for growth. Variety and challenge will be part of your daily routines.

Why should you join Domestic Appliances?

Philips’ Domestic Appliances business is a global leader with EUR 2.3 billion in sales in 2019 in kitchen appliances, coffee, garment care and home care appliances, with successful products such as the Airfryer, Perfect Care Steam Generators, Automatic Coffee Machines with LatteGo and SpeedPro Max Aqua vacuum cleaner, and many more that are used by millions of people every day across the world.

In January 2020, Philips announced that it would be considering new ownership options for Domestic Appliances, as it is not a strategic fit for the company’s future as a health technology leader, and committed to finding the right home for the business to ensure that it is set up for continued success serving customers, leveraging the Philips brand and driving growth across the markets that it serves.

In its 128-year history as a leading innovator, Philips has had to reinvent itself a number of times to remain competitive. This has involved several high-profile divestments, resulting in the company’s successful track record in managing complex change of this scale. Such transformations offer unique opportunities for employees to ‘make their mark’ and gain expertise in a specific and dynamic environment - those who can deliver results while navigating and contributing to changes will gain unique skills and perspective that will prove valuable for the rest of their careers.