Senior Accountant

Company Description

We help the world see new possibilities and inspire change for better tomorrows. Our analytic solutions bridge content, data, and analytics to help business, people, and society become stronger, more resilient, and sustainable.

Job Description

VMS is seeking a highly skilled and experienced Sr. Accountant to join our finance team. The Senior Accountant will be responsible for overseeing and managing various accounting functions, ensuring accuracy, compliance, and efficiency in financial reporting and analysis.   This position will embrace the VMS culture in assessing new opportunities and developing innovative processes to perform the accounting responsibilities in a manner that drives operational efficiency and effectiveness. The Sr. Accountant will focus on monthly Revenue Recognition according to ASC606, commission calculation and monthly expense analysis. The candidate will work in a matrix reporting structure, having responsibility to the VMS Business Unit as well as responsibility to Verisk Corporate Accounting.  

About the Day-to-Day Responsibilities: 

General Accounting Duties 

• Support the Verisk Corporate Accounting monthly, quarterly and year-end closing process including general ledger account reconciliation. 

• Conduct financial analysis and provide insights including variance analysis and variance to budget. 

• Stay updated on changes in accounting standards, regulations, and industry trends to ensure compliance and recommend best practices.  

Revenue Recognition 

• Calculate and recognize revenue in accordance with ASC606. 

• Update General Ledger accounts for revenue, unbilled and deferred revenue monthly. 

• Explain revenue variances and work on revenue FLUX analysis. 

Commissions 

• Utilize commission calculation software to calculate commissions based on established commission plans and policies. 

• Review and reconcile commission calculations to ensure accuracy and consistency, identifying and resolving any discrepancies or errors in a timely manner. 

• Generate commission statements and reports for distribution to sales representatives. 

• Coordinate with payroll and accounting teams to ensure timely and accurate processing of commission payments, including recording commissions expenses and reconciling commission accounts. 

• Monitor and track commission-related metrics and performance indicators, such as commission expenses, payout ratios, and sales performance, providing regular updates and analysis to management. 

Fixed Assets and Internally Developed Software 

• Oversee the accounting and reporting of fixed assets. 

• Review and analyze capital expenditure requests for fixed asset purchases, ensuring proper classification and accounting treatment. 

• Collaborate with cross-functional teams, including IT, engineering, and product, to identify and capitalize eligible costs associated with internally developed software projects. 

Audits 

• Coordinate and liaise with internal and external auditors, tax authorities, and regulatory agencies as needed. 

Other 

• Collaborate with cross-functional teams, including finance, operations, and management, to support business objectives and initiatives. 

• Participate in special projects and initiatives as assigned by management, contributing expertise and insights to drive continuous improvement and operational excellence. 

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Qualifications

• Bachelor’s degree in Accounting or Finance. 

• 5+ years of progressive experience in accounting or finance roles, with at least 2 years in a senior accounting role. Experience with subscription revenue preferred. 

• Thorough understanding of accounting principles, practices, and standards, with knowledge of GAAP and relevant regulatory requirements. 

• Proficiency in accounting software and ERP systems (Oracle preferred), along with advanced skills in Microsoft Excel. 

• Strong analytical and problem-solving skills, with the ability to interpret financial data, identify trends, and make recommendations. 

• Excellent communication and interpersonal skills, with the ability to effectively communicate complex financial information to stakeholders at all levels. 

• Detail-oriented with a high degree of accuracy and integrity in financial reporting and analysis. 

• Ability to work independently and collaboratively in a fast-paced environment, managing multiple priorities and deadlines effectively. 

• Strong commitment to professional growth and continuous learning, with a proactive and results-driven approach to a