Rebates and Incentives Finance Manager, Mastercard
Global payments technology company
Job no longer available
Global payments technology company
1001+ employees
Job no longer available
1001+ employees
Company mission
To connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible.
Role
Who you are
- The ideal candidate is a self-starter with a broad finance background, with the ability to build relationships with cross-functional teams, contribute to the finance team and consistently produce exceptional results
- This job is ideal for a person with a strong technical accounting background, good analytical skills and an ability to drive projects through to completion
- The critical components are energy and intellect, combined with a “can do” attitude
- Bachelor’s degree preferred. Qualified Accountant (ACA, AMCA, ACCA)
- Post-qualification experience in industry preferably in payments or in a related industry
- US GAAP experience preferred, IFRS also helpful
- Technical Accounting experience, ability to evaluate revenue contracts from a technical accounting perspective
- Ability to work through ambiguous concepts and issues to bring clarity to the stakeholders
What the job involves
- The jobholder will be part of the UK&I Nordics & Baltics Controller’s group within MasterCard Europe’s Finance division
- The role will mainly be responsible for Rebates & Incentives, Pricing & Billing Operations for the UKINB (UK, Ireland, Nordics and Baltics) division within Europe
- This position will report to the VP Controlling UK&I Nordics & Baltics
- The role oversees the timely and correct accounting treatment of all customer business agreements in terms of revenue recognition and contra-revenue (rebates and incentives) in partnership with the GBSC (Shared Services center in St. Louis), ensuring compliance with current applicable Mastercard policies and internal controls as well as US GAAP
- The jobholder will be involved in implementation of new pricing in the Billing System and will be considered a subject matter specialist on all matters related to billing and pricing for the UKINB division
- The role will support the business in relation to their generation of customer business agreements and play an advisory role to the account teams
- The jobholder will be a key contributor to both the financial and commercial process and will work closely together with different departments within the organization (FP&A, Business Development Finance, Legal, GBSC, Account Managers & Regional Finance)
- The jobholder will review R&I reporting to different stakeholders within the organization (mainly Corporate Controllers Group in NY on a quarterly basis) on an as needed basis
- Support the business in delivering monthly and quarterly reports that measure business performance metrics
- Support Mastercard’s Internal Control and Sox Compliance processes across the UK&I and Nordics & Baltics divisions – assist in rolling out a revised internal control framework within these divisions
- Responsible for overseeing the quality of the full accounting process for rebates and incentives (R&I or contra-revenue) ensuring timely and accurate accounting treatment for the countries under scope. (Note the operational accounting process is carried out by the GBSC.)
- Provide complex accounting advice and guidance: discuss, challenge and validate various accounting treatments, and communicate them effectively to ensure proper understanding and application by Regional Finance teams and other regional stakeholders
- Support the contract drafting process as a reviewer to ensure that contract verbiage in customer business agreements which enables proper accounting treatment in line with the applicable Mastercard policies and US GAAP as well as provides clear interpretation of the financial clauses in the contract
- Perform various oversight controls for the R&I accounting process including review of monthly P&L trends, quarterly reporting deliverables for Corporate and deal performance monitoring in the region
- Ensure internal and external audit compliance as well as ensure SOX compliance and process documentation for all key control activities
- Perform regional billing and pricing operations activities including. Review of pricing proposals to ensure accuracy and completeness
- Taking part in pricing implementations in Mastercard systems. Training for customers on our core pricing and supporting pricing discussions with customers
- Participating on cross-functional teams for any European billing related projects
- Liaising with GBSC Billing Services to automate manual billing processes
- Provide ad hoc reporting and drive efficiency improvements to existing processes
- Accounting Tasks:
- Review Accounting Summaries in accordance to MasterCard's applicable policies for customer business agreements and ensure that the accounting treatment of the signed business agreements is applied accordingly
- Review full monthly incentive reconciliation for UK&I and N&B and ensure required clarifications are provided to the European Controller and Global Finance
- Participate in monthly regional calls on incentive accruals, forecast and R&O
- Prepare, validate and present the quarterly incentive reviews to Global Finance and external auditors
- Ensure SOX compliance and process documentation for all Key Control Activities
- Ensure internal & external audit compliance
- Provide incentive accounting guidance and trainings to the regions
- Provide oversight and guidance over Funds usages in the UK&I and N&B regions – ensure that the contract language is correct and perform quarterly reviews over the significant fund initiatives
Salary benchmarks
Our take
Mastercard is in the global payments business, and operates the world's fastest payments processing network. Its products and solutions have become central to everyday commerce across the world, in activities ranging from shopping and travelling to running businesses.
As the economy has become more and more digitised, Mastercard has been a leading player in helping businesses and individuals across the globe embrace card payments and digital banking. One of the world's largest companies, its revenue has seen consistent gain in the last 20 years.
The challenge for modern payments companies is that payments are always changing, as seen in the astronomical rise of contactless payments over the last decade. Mastercard's acquisition of blockchain systems, and an overall focus on leveraging its technology towards a digital economy, has placed the company in good stead to keep up to date with current trends, like cryptocurrency, in the digitised payments world.
Steph
Company Specialist
Insights
Company
Company benefits
- Gym membership
- Share purchase options
- Extra holiday purchase optional
- Work from home opportunities
- Health insurance
- Pension plan
- 25 days holiday (excl. bank holidays)
Company values
- Trust - integrity, respect, openness
- Agility - urgency and value through innovation
- Partnership - working as one team for the benefit of all
- Initiative - taking bold and thoughtful actions
Company HQ
Purchase, Harrison, NY
Articles
Founders
Michael Miebach
(CEO, not founder)Has served in a variety of roles at the company, including President and CPO. Currently Board Member at IBM, Accion, the World Resources Institute, the US-India Strategic Partnership Forum, and the Metropolitan Opera. They are also a Trustee of USCIB.
People progressing
Joined as VP in 2008, promoted 4 times in 11 years to their current position of Executive Vice President.
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