Mr.C Entertainment - Central LA, CA

posted 5 months ago

Full-time - Senior
Central LA, CA

About the position

MRC is a diversified global entertainment company with divisions including Film and Television. The VP, Controller is an integral part of the MRC Accounting team, reporting directly to the CFO. As the head of the accounting department, the VP, Controller will manage and supervise all aspects of accounting, including operations, reporting, tax compliance, and treasury. This position will work closely across all departments to continue to improve inter-departmental communication and processes. The VP, Controller will also provide strong leadership and mentorship to the accounting team reporting to it. This role is crucial in ensuring that the accounting practices align with the company's strategic goals and regulatory requirements. The VP, Controller will apply ASC 606 (Revenue), ASC 926, ASC 920, ASC 842, and all other applicable GAAP accounting standards. They will prepare technical accounting memos and contract analysis to support the company's position for complex transactions such as mergers and acquisitions, financing, and revenue deals. The role involves overseeing and reviewing the quarterly financial close process, preparing internal management reporting and analysis, and supporting quarterly business reviews. Additionally, the VP, Controller will oversee the consolidation of various MRC entities for financial reporting purposes and manage the annual audit with external auditors. Ensuring compliance with debt covenants and various reporting requirements is a key responsibility. The VP, Controller will work closely with Finance to manage daily cash inflows and outflows and projected cash requirements. They will manage daily accounting activities, including accounting for accounts payable, accruals, receivables, revenue, deferred revenue, cash, participations & residuals, intercompany, and debt. The role also includes managing participations and residuals processes, reporting to third-party service providers, participant statement reporting, payment of obligations, and participant audits. The VP, Controller will manage external tax advisors and the overall tax function, including tax planning initiatives, production incentives, distributions, shareholder communications, and various ad hoc transactions. Promoting a team environment is essential, including the development of the accounting team, cross-functional training, open communication, and mentorship. The VP, Controller will prioritize deliverables to ensure a balanced workload and meet deadlines. They will partner cross-functionally with finance, business affairs, production, and creative teams to provide insights, guide decision-making, and enhance collaboration. Identifying and driving impactful process improvements is also a critical aspect of this role, along with partnering in all financial planning activities, including operating forecasts, cash flow projections, strategic planning initiatives, and capital raise presentations.

Responsibilities

  • Apply ASC 606 (Revenue), ASC 926, ASC 920, ASC 842 and all other applicable GAAP accounting standards.
  • Prepare technical accounting memos and contract analysis to support company's position for complex transactions (M&A), financing, and revenue deals.
  • Oversee and review the quarterly financial close process and preparation of internal management reporting and analysis and support quarterly business reviews.
  • Oversee the consolidation of various MRC entities for financial reporting purposes.
  • Oversee the annual audit with the external auditors.
  • Ensure MRC remains in compliance with debt covenants and various reporting requirements.
  • Work closely with Finance to manage daily cash inflows and outflows and projected cash requirements.
  • Manage daily accounting activities, including accounting for accounts payable, accruals, receivables, revenue, deferred revenue, cash, participations & residuals, intercompany, and debt.
  • Manage participations and residuals processes, including reporting to third party service providers, participant statement reporting and payment of obligations, and participant audits.
  • Manage external tax advisors, and the overall tax function, including: tax planning initiatives, production incentives, distributions, shareholder communications, and various ad hoc transactions.
  • Promote a team environment including development of accounting team, cross-functional training, open communication, and mentorship.
  • Prioritize deliverables to ensure balanced workload and meeting of deadlines.
  • Partner cross-functionally with finance, business affairs, production and creative teams to provide insights, guide decision-making, and enhance collaboration.
  • Identify and drive impactful process improvements.
  • Partner in all financial planning activities; including operating forecasts, cash flow projections, strategic planning initiatives and capital raise presentations.

Requirements

  • 10+ years of experience required; Big 4 public accounting and entertainment industry experience preferred.
  • BA or BS degree required (Bachelor's Degree in Accounting/Finance) and an active CPA designation.
  • Strong technical GAAP background and experience with financial statement preparation.
  • Self-starter with excellent interpersonal communication, management, and problem-solving skills.
  • Detail oriented with project management skills.
  • Ability to thrive in a fast-paced and entrepreneurial environment.
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