Koch Business Solutions (KBS) is the global problem solver of business needs for Koch Industries. We serve more than 120,000 employees worldwide and partner with 11 Koch companies from a diverse number of industries; from making fabric to manufacturing cell phone components. Since 2003 Koch has invested over $80 billion in acquisitions and other capital expenditures and are proud to reinvest more than 90% of our earnings back into our companies. Our culture is defined by the Market-Based Management (MBM)® philosophy which guides everyday decision making and provides employees with opportunities to contribute and personally benefit from the value they create.
Koch Business Solutions (KBS) has an exciting opportunity to be part of building out a brand-new HR Solutions Center in Bangalore, India! Join the team early and be a part of growing and building out additional HR capabilities that will support all Koch Industries employees in the region!
What You Will Do In Your Role
Create / modify and administer standard templates for Balance Sheet Account Reconciliations. Update account description, purpose, risk, balance range, supporting document required, escalation, exceptions
Standardize transaction classification as “reconciled” or “unreconciled”
Assess and standardize risk classification of accounts based on business requirements and IFC guidelines. Work with business to establish risk categorization of accounts.
Consolidation and Reporting – report count and value of unreconciled accounts, potential risk / fraudulent transactions/accounts.
Automate the periodical status update by eliminating manual data collation.
Ensure adherence to IFC and business specific guidelines.
Work on creating trend analysis, predictive forecasting of unreconciled items, reconciliation reviews with business,
Explore use of GLAD (GL Anomaly Detection) application, RPA, AI, etc for data pulls and eliminate manual inputs from teams.
Assess and review new transitions of reconciliations by reviewing all in-scope accounts, sign-off from Business on open item status, etc.
The Experience You Will Bring
10-15 years of experience in R2R with excellent conceptual understanding, very good excel skills, eye for detail, interpret data into meaningful insights. The person should be an independent operator, investigative and curious to identify root cause and come up with probable solutions. Expertise in R2R B/S sheet account reconciliations is must, knowledge of reconciliation tools like Blackline, Onestream preferred. A good understanding of reconciliations in P2P, O2C, Payroll accounting is an added advantage.
What Will Put You Ahead
§Expertise in R2R processes with a thorough understanding of the concepts.
§Thorough understanding of reconciliations in one or more categories - GL, Fixed Assets, Intercompany and Cash/Bank Account Reconciliations. Knowledge of AP, AR, T&E, Payroll reconciliations is preferred.
§Understanding the flow of information in financial and non-financial processes.
§Assess process breaks / control lapses in the reconciliation cycle.
§A good knowledge of Blackline, and Onestream reconciliation platforms.
§Working knowledge of Indian Accounting Standards (IAS), US GAAP & IFRS
“Koch is proud to be an equal opportunity workplace”