What are the responsibilities and job description for the Ralph Lauren Senior Accountant, Inventory position at BoF Careers?
Company Description
Ralph Lauren Corporation (NYSE:RL) is a global leader in the design, marketing and distribution of premium lifestyle products in five categories: apparel, accessories, home, fragrances, and hospitality. For more than 50 years, Ralph Lauren's reputation and distinctive image have been consistently developed across an expanding number of products, brands and international markets. The Company's brand names, which include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, Chaps, among others, constitute one of the world's most widely recognized families of consumer brands. At Ralph Lauren, we unite and inspire the communities within our company as well as those in which we serve by amplifying voices and perspectives to create a culture of belonging, ensuring inclusion, and fairness for all. We foster a culture of inclusion through: Talent, Education & Communication, Employee Groups and Celebration.
Position Overview
Ralph Lauren seeks an experienced Senior Accountant to join a dynamic and impactful Financial Operations team with a focus on providing accurate cost element forecasting, meaningful analysis on results and variances, effective ownership over certain areas of the balance sheet and P&L, efficient review of royalty contracts and ownership over the related accounting and supporting the development of reporting solutions for inventory flows. The successful candidate will be a self-motivated and highly engaged individual with a positive attitude, a commitment to process improvement and possess finely tuned time and task management skills. The candidate should have 3-5 years of accounting experience with at least two of the years specifically in cost accounting, inventory accounting, GRIR management or a similar field and should demonstrate an in-depth understanding of that field. In conjunction with this experience, understanding of Sales & COGS or margin analysis is also necessary for success. In addition to standard inventory accounting functions/ journal entries and ledger management, this role will also have the opportunity to work side-by-side with our inventory control team to expand understanding of on-hand valuation, below cost sales, dispositions and strategies on handling slow moving inventory. The candidate should be able to shift focus quickly at certain times of the month/ quarter or year and should also demonstrate potential for and interest in upward mobility towards team management. Note: This role does not include the actual function of inventory costing but requires the understanding of inventoriable cost.
Essential Duties & Responsibilities
3-5 years of linear experience in an accounting function with at least 2 years in cost accounting or a similar function 1-2 years of forecasting experience Bachelors degree with Accounting concentration or a similar degree Experience within a US GAAP framework will be valuable Understanding of accounting principles and experience with systems of record and ERP based reporting environments Skilled in active observation and root cause analysis Professional presence and excellent written/oral communication skills with an ability to communicate effectively across a variety of levels and stakeholders in the organization with an intent to influence change Strong working knowledge of Excel Strong preference for candidates with ERP solution experience, SAP preferred CPA or CMA (not required, preference) Must maintain integrity throughout work product balancing attention to detail with a connection to the big picture Provide support for ad-hoc requests from senior management, the FP&A team or the business operations teams; our financial operations team serves many internal customers
Ralph Lauren Corporation (NYSE:RL) is a global leader in the design, marketing and distribution of premium lifestyle products in five categories: apparel, accessories, home, fragrances, and hospitality. For more than 50 years, Ralph Lauren's reputation and distinctive image have been consistently developed across an expanding number of products, brands and international markets. The Company's brand names, which include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, Chaps, among others, constitute one of the world's most widely recognized families of consumer brands. At Ralph Lauren, we unite and inspire the communities within our company as well as those in which we serve by amplifying voices and perspectives to create a culture of belonging, ensuring inclusion, and fairness for all. We foster a culture of inclusion through: Talent, Education & Communication, Employee Groups and Celebration.
Position Overview
Ralph Lauren seeks an experienced Senior Accountant to join a dynamic and impactful Financial Operations team with a focus on providing accurate cost element forecasting, meaningful analysis on results and variances, effective ownership over certain areas of the balance sheet and P&L, efficient review of royalty contracts and ownership over the related accounting and supporting the development of reporting solutions for inventory flows. The successful candidate will be a self-motivated and highly engaged individual with a positive attitude, a commitment to process improvement and possess finely tuned time and task management skills. The candidate should have 3-5 years of accounting experience with at least two of the years specifically in cost accounting, inventory accounting, GRIR management or a similar field and should demonstrate an in-depth understanding of that field. In conjunction with this experience, understanding of Sales & COGS or margin analysis is also necessary for success. In addition to standard inventory accounting functions/ journal entries and ledger management, this role will also have the opportunity to work side-by-side with our inventory control team to expand understanding of on-hand valuation, below cost sales, dispositions and strategies on handling slow moving inventory. The candidate should be able to shift focus quickly at certain times of the month/ quarter or year and should also demonstrate potential for and interest in upward mobility towards team management. Note: This role does not include the actual function of inventory costing but requires the understanding of inventoriable cost.
Essential Duties & Responsibilities
- Engage with business partners on royalty agreements with third parties and artists in residence to gain an understanding of contract obligations and properly account for those commitments monthly. This will include reporting and processing/ coding invoices for related payments.
- Utilize in-depth knowledge of inventory valuation/ movements to analyze/ explain cost element purchase price variance, provide solutions to minimize variances and accurately forecast for variances. Effectively partnering with other areas of the business, like logistics will be key.
- Perform general accounting functions including working in an ERP / general ledger system, prepare and support periodic journal entries and perform account analysis utilizing partner systems like business insight or Ariba to determine appropriate reclasses. Communication plays a large role in this area so the successful candidate needs to be comfortable with professional verbal and written interactions.
- Utilize accounting / business operations acumen to ask questions, understand and document new royalty agreements and new projects impacting inventory flows.
- Participate in the internal/ external audit process with specific focus on collecting key financial, accounting and control related data.
- Support management in completing special projects and other tasks as they arise.
- Identify opportunities and conduct testing for process improvements or automations.
- Provide general accounting support to broader team when needed and approach issues with a solution-based focus.
- Show interest and capabilities for management track, including possessing a positive can-do attitude that guides and shapes peers/ team.
- Approach a dynamic finance/ accounting environment with a task-oriented mindset and focus on deadlines while utilizing time management to shuffle priorities as they change/ shift.
3-5 years of linear experience in an accounting function with at least 2 years in cost accounting or a similar function 1-2 years of forecasting experience Bachelors degree with Accounting concentration or a similar degree Experience within a US GAAP framework will be valuable Understanding of accounting principles and experience with systems of record and ERP based reporting environments Skilled in active observation and root cause analysis Professional presence and excellent written/oral communication skills with an ability to communicate effectively across a variety of levels and stakeholders in the organization with an intent to influence change Strong working knowledge of Excel Strong preference for candidates with ERP solution experience, SAP preferred CPA or CMA (not required, preference) Must maintain integrity throughout work product balancing attention to detail with a connection to the big picture Provide support for ad-hoc requests from senior management, the FP&A team or the business operations teams; our financial operations team serves many internal customers