Accounting Manager, Revenue and Receivables

001_MstarInc Morningstar Inc. Legal Entity - Chicago, IL

Full-time - Mid Level

Hybrid - Chicago, IL

About the position

Morningstar's Corporate Finance plays an essential role in supporting our company's strategic initiatives, day-to-day operations, and infrastructure. Morningstar is looking for an Accounting Manager to join our Americas Revenue and Receivables team which is focused on business partnership, innovation, automation, and process improvements. In this role, you will be responsible for the Americas quote to cash Transaction and Asset (QTC) results. You will work collaboratively with multiple departments (sales, shared services, product, legal, etc.) to execute on the QTC process - from contract initiation to revenue/receivables - as well as to assess and improve the QTC process. This position is a full-time position based in Chicago, reporting to the Americas Senior Manager Revenue and Receivables. As an Accounting Manager, you will oversee the Transaction and Asset revenue close process for the Americas to ensure timely and accurate reporting in accordance with US GAAP and internal control requirements. You will review draft revenue contracts to ensure revenue is recognized in accordance with ASC 606 and participate in draft contract reviews to identify potential revenue recognition issues. Additionally, you will audit complex contract data against opportunity information entered in the Company's Salesforce CRM application to ensure accuracy of information used for internal and external reporting. You will also oversee credit rating regulatory entities' revenue and reporting, research US GAAP reporting requirements, and provide technical accounting research for non-routine or complex revenue transactions in a timely and effective manner. Your responsibilities will include conducting process reviews, performing internal controls testing, remediating control failures, and proactively assessing changes to the overall control environment. You will assist in the preparation of revenue disclosures for external financial reporting to ensure compliance with US GAAP and SEC reporting requirements. Furthermore, you will review and manage month-end revenue accruals, monthly revenue reports, and account reconciliations. Participation in cross-functional project teams formed to address business process improvements in the revenue and receivable area will also be part of your role. You will initiate, review, and implement process improvements to increase operational efficiencies while maintaining the integrity and accuracy of the accounting records. Strong leadership, direction, mentoring, and development to the Americas Revenue and Receivables team located in the United States and Canada will be expected from you. Lastly, you will work closely with the Company's external auditors on revenue recognition and related controls and manage quarterly and annual audit requirements.

Responsibilities

• Oversee the Transaction and Asset revenue close process for the Americas to ensure timely and accurate reporting in accordance with US GAAP and internal control requirements.
• Review draft revenue contracts to ensure revenue is recognized in accordance with ASC 606 and participate in draft contract reviews to identify potential revenue recognition issues.
• Audit complex contract data against opportunity information entered in the Company's Salesforce CRM application to ensure accuracy of information used for internal and external reporting.
• Oversee credit rating regulatory entities' revenue and reporting.
• Research US GAAP reporting requirements and provide technical accounting research for non-routine or complex revenue transactions in a timely and effective manner.
• Conduct process reviews, perform internal controls testing, remediate control failures and proactively assess changes to the overall control environment.
• Assist in the preparation of revenue disclosures for external financial reporting to ensure compliance with US GAAP and SEC reporting requirements.
• Review and manage month-end revenue accruals, monthly revenue reports and account reconciliations.
• Participate in cross-functional project teams formed to address business process improvements in the revenue and receivable area.
• Initiate, review, and implement process improvements to increase operational efficiencies while maintaining the integrity and accuracy of the accounting records.
• Provide strong leadership, direction, mentoring and development to the Americas Revenue and Receivables team located in the United States and Canada.
• Work closely with the Company's external auditors on revenue recognition and related controls and manage quarterly and annual audit requirements.

Requirements

• Minimum 5 years of experience in an accounting or related position.
• In depth knowledge of US GAAP and revenue accounting and subject matter expertise in ASC 606.
• Familiarity in applying revenue recognition principles related to software, service contracts, assets under management and multiple element deliverables.
• Excellent analytical, problem-solving, and communication skills.
• Proven experience in managing teams and attract, inspire, motivate, and develop talent.
• Ability to work collaboratively with global teams and stakeholders.
• Experience with Salesforce and Oracle is a plus.
• CPA or equivalent accounting certifications a plus.

Nice-to-haves

• Experience with Salesforce and Oracle is a plus.
• CPA or equivalent accounting certifications a plus.

Benefits

• Hybrid work environment allowing remote work and in-person collaboration at least three days a week.
• Tools and resources to engage meaningfully with global colleagues.