Function: Revenue Recognition Group - Cloud and NewProducts Level:
Sr. Revenue Analyst
The Revenue Recognition (RevRec) group ensures theconsistent application of Oracle's Corporate RevRec Policies via the review oflicense, hardware, cloud, support & other support related services, andprofessional services contracts globally.
The Sr. Global RevRec Analyst, Cloud and New Products willfocus on assisting the Director, Cloud GPO and New Products to Enhancepolicies and processes around Cloud and new product offerings through organicgrowth and M&A activities. Overseeall aspects of revenue recognition in terms of the Cloud and new productofferings including, providing support to the business related to revrecqueries, creating policies and procedures, global training, both internal andexternal, partnering with SOX and E&Y on key controls and quarterly auditrequests, and more.
This person must possess strong, analytical communication(verbal and written) and business partnering skills. The Sr. Global RevRec Analyst, Cloud and NewProducts role will be required to liaise, collaborate and foster ongoingrelationships with the following people/groups: With the various Line of Business, GlobalBusiness Practices, Finance Systems GPO, Product Release Group, SalesOperations, Deal Management and other back office departments to understandofferings (new or changes to existing offerings), pricing, promotions, go tomarket strategy and systems are in accordance with Oracle’s RevRec policy,accounting rules and understood by all stakeholders. With Global RevRec team, Controllers’group, SOX and external auditors (E&Y) on the system controls and applicationof policy and accounting literature relating to Cloud and new products. With Global Business Finance, and various Lineof Business Operation teams to resolve revenue accounting issues encountered. Responsibilities NewRevenue Guidance ASC606 Support RevRec group’s initiative offocusing on the next generation revenue rules (ASC 606) during the keyimplementation and recast years and drive to ensure a smooth Cloud and newproducts revrec related policy and processes transition to the new rules. Workwith business practice, deal management and business units to developunderstanding of revenue generating activities for cloud services. This includesanalysis of i) deliverables / performance obligations generally included incontracts; ii) modifications to contracts including extensions and otherchanges to fees payable or services deliverable under the contract; iii)contract options included in arrangements for the provision of these services; Liaisonwith technical accounting team in ensuring systems and process in place toensure revenue is correctly recognized.
Assistthe Director, Cloud GPO and New Products to: Ensure Oracle’s Cloud and New Productsrelated Rev Rec policies are kept up to date, ensuring compliance with currentpronouncements and developments. Keep RevRec Cloud FAQ up to date for newissues/topics. Workwith the Global RevRec team to help them address technical accounting issuesthat arise. Presentmore complex technical issues to RevRec management and E&Y. Workwith the various line of business to explain and help avoid accounting issueswith Cloud and New Product offerings and related professional service offerings. Maintaina playbook for all different contract and provisioning permutations, includingthe accounting conclusions and system accounting rules Work with Fair Value team with regards toconcerns/issues with pricing and discounting in new product offerings. Mergers andAcquisitions Workclosely with RevRec M&A team during all phases of acquisition process withregards to their hand over of acquired companies and identification of productsrelated high risk areas within acquisitions. Ensure documentation of acquired company productofferings and accounting conclusions related to revenue classification and restrictedproducts. Review New Service & Promotional Offerings Attendregular calls regarding product SKU set up for new parts and review, determinethe appropriate accounting, and document conclusions of proposed new product offerings. Workwith stakeholders to improve new part set-up process. Workwith Product Development, Pricing, Global Business Practices and various lineof business on new offerings. ReviewCloud Promotions along with RevRec Fair Value team to determine appropriaterevenue recognition profile. Evaluate any Rev Rec implications andpresent your conclusion to RevRec management. Communicate any necessaryguidance/implications to requestors Work with the various line of business to removeproducts from Restricted Products List. (E.g. establish ‘Standalone Value’ forthose Cloud services that do not yet meet that criteria; establish ‘segmentation’for non-segmentable SW). Systems Attendregular and ad hoc calls relating to Cloud and new product offerings. Work with Finance Systems GPO, and otherGPOs on system enhancements related to revenue recognition for Cloud and newproducts. Partner with RevRec Technical Accountingand Operations leads in the implementation of the Revenue Management Tool (multi-elementarrangement revenue allocation tool related to Cloud transactions). Training Providetraining to the Global RevRec team with regards to Cloud and New Productsrelated developments Provide training externally to the variousline of business and other related teams with regards to revenue recognitionpolicy and process for Cloud and New Products. Liaise with Global REVREC team as neededon complex arrangements. Beavailable to answer line of business questions during training. Audit Work with SOX and E&Y on Cloud and newproducts reviews and formalization of key controls (e.g. provisioning, etc.) Work with E&Y on Cloud and newproducts related operational issues/concerns relating to Rev Rec Provide E&Y quarterly audit schedulesand other requests. Job Requirements ACA, CPA, MBA orequivalent, with 5 or more years of ASC 605-625 and/or ASC 985-605 experience. Exposure to ASC606 framework and concepts preferred, but not required. Previousexperience of managing revenue risk related to Cloud transactions and Cloudsystem controls preferred, but not required. Preferred skillsof candidates include: strong conceptual and practical experience inunderstanding and communicating technical accounting issues specific to thetechnology industry; proficiency with researching accounting literatureincluding FASB, SEC, AICPA and IFRS rules and regulations. Strong projectmanagement, leadership, relationship development and people management skills;results orientation with an ability to manage the overall project; excellentmulti-tasker who sees the “bigger picture”; collaborate with differentindividuals across the organization; able to manage and prioritize severaldifferent activities in parallel.
Detailed Description and Job Requirements
Ensures that revenue is recognized in accordance with Corporate and SEC standards. Provides direction to sales organization prior to contracts being concluded.
As a member of Revenue Accounting you will assist in the processing of revenue impacting adjustments and reconciling balance sheet account. Monitor revenue, reconcile receivables, and unearned accounts. Work with internal customers to resolve related revenue inquiries. Assist in facilitating the automation of current processes and procedures. You may participate in special projects.
Leading contributor individually and as a team member, providing direction and mentoring to others. Work is non-routine and very complex, involving the application of advanced technical/business skills in area of specialization. Prefer strong analytical, prioritization and communication skills in partnering with other internal groups and management. Familiarity with Excel spreadsheets is essential. Familiarity with Oracle Financials is essential. 8 years accounting experience and BA/BS degree in Accounting or equivalent. Some positions need you to be bilingual in English and Spanish or Portuguese. As part of Oracle's employment process candidates will be required to complete a pre-employment screening process, prior to an offer being made. This will involve identity and employment verification, salaryverification, professional references, education verification and professional qualifications and memberships (if applicable).