Corporate Controller

Corporate Raleigh, North Carolina


Description

Seeking an experienced accounting professional with excellent organizational, analytical and communication skills to serve as chief accountant and provide decision support to the executive management team. Primary responsibilities include: (a) leading all Financial Planning & Analysis functions; (b) proactively identifying opportunities for business optimization through regular financial analysis across disparate business units; (c) lead responsibility for corporate financial systems with a continuous improvement mindset; (d) managing the corporate treasury function including bank covenants and investment portfolios; and (e) managing the corporate tax, audit and general insurance functions.   Also responsible for attracting, developing directing and retaining a Corporate Finance & Accounting team of five and business unit F&A teams of approximately twenty.

DUTIES AND RESPONSIBILITIES:

Budgeting

  • Manage the company’s budget process, from the preparation of annual budgets to the monthly updates of current year forecasts and outyear projections.
  • Work with CEO, COO and CFO to develop Corporate budget guidance and ensure compliance .
  • Monitor operating performance and forecasts against budget, working closely with Division Controllers to understand the nature and cause of material variances from plan.
  • Maintain multiyear cash and credit facility forecasts to assist management in planning future activities.

 Accounting

  • Act as the company’s chief accountant, ensuring both the management accounting needed to run the business and the GAAP accounting necessary to produce an annual audit report.
  • Determine appropriate accounting treatment for all unusual transactions.
  • Enforce the proper and consistent use of the company’s Chart of Accounts and control dissemination of new CoA values.

 Financial Reporting and Analysis

  • Ensure consistent delivery on a regular monthly basis of an established set of corporate-level financial reports to the C-Suite of the company.  These reports will include operating budget variance reports, operating forecasts and projections, non-operating revenue and expenses, cash and credit facility forecasts, and investment and loan updates.
  • Ensure consistent delivery of a brief MD&A-style narrative over the top of the monthly reporting package distilling what is important in the numbers and communicating that in a concise manner, covering both consolidated and key individual business unit results and trends.
  • Determine most efficient and effective way to deliver reports to upper-level management, optimizing the use of automation, KPIs and dashboards.
  • Maintain regular communication with Division Controllers to get explanations for variances, trends, etc. that might be used in reports to management.
  • Manage preparation and delivery of quarterly credit agreement covenant calculations and supporting schedules and reports to primary lenders.
  • Manage preparation and delivery of annual unaudited GAAP financial statements to lenders.
  • Design new financial reports to meet new requirements or improve/replace existing reports, managing technical resources necessary for build, test and rollout.

 Audit

  • Manage the annual audit of the company’s financial statements, ensuring efficient completion and timely delivery of an audit report.
  • Negotiate audit fees, striking a balance between paying an amount sufficient to obtain a quality product and controlling one of the larger expenses of F& A.
  • Resolve any audit issues quickly and effectively, limiting cost impact as much as possible.
  • Ensure completion of smaller audits (e.g., Retirement Savings Plan, Partnerships).
  • Plan and conduct limited, targeted internal audits of various business operations to ensure adequate controls are in place and being adhered to.

 Tax

  • Work closely with tax preparers to ensure compliance with all laws and regulations, and efficient completion and timely filing of income tax returns.
  • Understand and be able to explain all book-to-tax differences on returns.
  • Manage the calculation and remittance of quarterly estimated tax payments.
  • Stay up-to-date on significant changes in the tax code that affect the company.
  • Proactively and regularly report to management tax optimization opportunities and successes, including: (a) federal, state and local income and property tax optimization; and (b) special projects including cost segregation studies, opportunity zones, charitable donations of investments, etc..
  • Approve in advance all tax consulting projects and manage work performed to ensure timely receipt of agreed upon deliverables.
  • Manage IRS/DOR audits when they occur.
  • Ensure completion of smaller tax returns (e.g., 5500 for 401(k) Plan).

 Systems

  • Oracle
    • Manage the operations of Oracle Cloud Financials and Planning and Budgeting Cloud Service to meet the company’s transaction processing and reporting requirements, providing helpdesk services to users as needed.
    • Manage Oracle user subscriptions, roles and responsibilities, data access and approval hierarchies.
    • Set up new companies in Oracle as needed and any other CoA values (accounts, divisions, departments) for which there is a legitimate business need.
    • Manage service requests submitted to Oracle Support to resolve application issues.
    • Manage outside technical resources to improve our use of Oracle applications or resolve problems.
  • ADP
    • Manage the operations of ADP’s time and attendance and payroll services to meet the company’s timekeeping and payroll processing requirements, providing helpdesk services to users as needed.
  • Proactively monitor financial systems best practices, and propose and lead projects to optimize automation and efficiency (including financial reporting and dashboards, automated payments and receipts, automated expense reporting, treasury function relationships, etc.)

 General Insurance

  • Provide support to the CFO to manage the company’s insurance coverage to ensure adequate risk protection, at the corporate and business unit levels.
  • Manage the annual renewal process, reviewing quotes and deciding on providers and coverage levels.
  • Support HR with annual medical insurance renewals, analyses, and monitoring

 Investment and Loan Administration

  • Support the CFO, COO and CEO with the creation and maintenance of a regular reporting package of the Company’s private equity investments, including periodic ROI summaries for the entire portfolio and key individual investments.
  • Assist the CFO, COO and CEO in evaluating alternative private equity investments, performing due diligence, and completing subscription agreements and reviewing related deal documents.
  • Manage detail recordkeeping of all company investment and business loan transactions and up-to-date summary level reports of current balances available on request.
  • Manage investment documents including deal docs, investee financial reports, latest cap tables, etc. 
  • Manage investment payments including venture capital and private equity fund capital calls.  Report to management on the company’s current level of investment as well as the investment’s performance to date to aid decision-making on requests for additional funding.
  • Manage notes for all loans, ensuring compliance with terms and timely collection of interest and principal.
  • Ensure appropriate GAAP classification and accounting treatment for all investments and loans.

 Investments & Banking

  • Manage and provide regular reporting for the company’s liquid investment portfolio (including laddering commercial paper and buying and selling other debt or equity investments).
  • Provide support to the CFO, COO and CEO in the development and updating of investment portfolio strategies and alternatives, linking same to multiyear corporate cash flow forecasts as appropriate.
  • Manage banking operations relationships with Wells Fargo.
  • Manage borrowing activity on the Corporate Credit Facility.
  • Ensure compliance with all bank covenants, for both the revolving CCF and any real estate business unit financing.
  • Manage setup and maintenance of all bank accounts, CBC account users and authorized signers.
  • Oversee operations of Wells Fargo payment program where the bank processes a certain amount of the company’s supplier invoice payments via ACH or virtual card.

Business Management

  • Oversee budgeting, accounting and reporting for one small subsidiary, two partnerships and all Corporate departments.

Other

  • Provide decision support to CFO, COO and CEO (and business unit general managers) as needed.
  • Perform project work as necessary.

QUALIFICATIONS: 

  • Accounting degree and CPA required.
  • 10-15 years of accounting and financial management experience, including at least 3-5 years of experience serving in a Corporate Controller or similar role spanning most of the key job responsibilities summarized above.
  • Experience as a user of Oracle Cloud Financials preferred, Oracle Planning and Budgeting Cloud Service and Oracle Smart View a plus.
  • Strong PC skills, especially Excel.
  • Strong planning and organizational skills to consistently meet deliverable deadlines.
  • Curiosity and ability to think creatively.
  • Ability to grasp and connect high-level concepts with underlying detail.
  • Ownership mentality toward work.
  • Team oriented, results oriented, with an innate commitment to continuous improvement.

You must be fully vaccinated against COVID-19 to work at CBC. If there is a medical or religious reason preventing you from receiving an available COVID-19 vaccination, and you are selected as a candidate for consideration, we have an accommodations process in place to evaluate those requests.

A pre-employment drug screening is required.  EOE, M/F.  All Capitol Broadcasting Company properties are tobacco free.  Capitol Broadcasting Company participates in E-Verify.

Capitol Broadcasting Company, Inc. is a diversified communications company which owns and/or operates WRAL-TVWRAL DigitalWRAZ-TVWRAZ DigitalWRAL-FMWRAL-HD2WCMC-FMWCMC-HD1WDNC-AMWCMC-HD2WCMC-HD3WCLY-AMWCMC-HD4MicrospaceCBC New Media Group and Wolfpack Sports Properties (a joint venture with Learfield) in Raleigh, NC; WILM-TVWILT-LD and Sunrise Broadcasting in Wilmington, NC; The Durham Bulls Baseball ClubBull City Hospitality, and the American Underground startup hub in Durham, NC; Holly Springs Salamanders in Holly Springs, NC; and real estate interests including the American Tobacco Historic District in Durham, NC, and Rocky Mount Mills in Rocky Mount, NC.