Financial Controller- North America
Varel Energy Solutions (VES) is one of the world’s largest independent manufacturer and suppliers of downhole drilling and completions products to the energy sector. The key to the company's success is underpinned by the virtues and the cultural framework of our employees. VES offers an exciting and fast paced work environment, attractive benefits, and competitive pay. If you’re looking to invest in your career development, Varel Energy Solutions is the right place for you. Come join our team!
Summary: VES is looking for a North America- Financial Controller to join our team in our Kingwood location. This person will be responsible for the region's entire accounting process. The position will be responsible for closing cycles, operating rhythms, reporting, and controllership fundamentals. This includes responsibility for quality assurance of the accounts, including monthly and annual reconciliations, and ensuring that all internal and statutory reporting requirements are met in a timely manner.
The position will also collaborate on global cash management and treasury and contribute to/influence the development, efficiency, and maintenance of internal resources and systems. The Controller will also collaborate closely with Corporate Finance and FP&A to provide annual budget preparations and supporting information.
Overall, the North American Controller holds a critical position in ensuring the financial health and compliance of the organization's North American operations. Responsible for maintaining accurate financial records, facilitating reporting, and contributing to the organization's financial strategy and planning. Effective collaboration with other finance departments is crucial to the Controller's success.
Essential Duties and Responsibilities include the following. Other duties may be assigned.
- Prepare and analyze monthly, quarterly, and annual financial statements in compliance with local regulations and international accounting standards.
- Provide accurate and timely financial reports to the management team, highlighting key financial metrics and trends.
- Support the annual financial planning, monthly forecasting, and closing process and ensure the local finance teams deliver timely and accurate reporting.
- Responsible for regional statutory financial reporting, audit, tax, accounting for manufacturing, and cash management and ensuring they are handled efficiently and accurately in accordance with Group policy and all statutory requirements.
- Understand and analyze products’ manufacturing costs and profitability.
- Oversee month-end entries related to projects or indirect costs.
- Support preparation of the monthly forecast, cashflow, DSO analysis and ensuring its completeness and accuracy
- Oversee entries for accuracy and follow up accordingly.
- Develop, monitor, and update budgets and forecasts for the western hemisphere operations.
- Work closely with department heads to understand budgetary requirements and provide financial guidance.
- Ensure compliance with local tax regulations and manage all tax reporting and filing aspects.
- Stay up to date with changes in financial regulations and ensure the company’s financial policies are in line with local laws and regulations.
- Monitor incoming/new legislation and regulations, evaluate the impact of potential requirements, and advise management on needed actions.
- Ensure compliance with Maquiladora local Mexican regulations.
- Establish and maintain appropriate internal control safeguards to ensure the accuracy of financial records.
- Conduct regular audits to identify potential risks and implement corrective measures.
- Collaborate with multiple internal and external stakeholders (Regional management, Corporate F&A, FP&A, Tax and Treasury team, internal and external auditors, tax advisors and banks)
- Facilitate the development and implementation of financial procedures, processes and guidelines that will improve the business.
- Manage internal and external audit. Guarantee that the region is in compliance with internal controls and statutory requirements. Standardize audit documentation across the segments.
- Understanding of commercial issues as they relate to tax exposures such as transfer pricing and related intercompany agreements.
- Manage cash flow by monitoring banking activities and ensuring adequate cash reserves.
- Optimize the company’s banking relationships and negotiate terms with financial institutions.
- Review and Approve CAPEX and Assets write-offs for the region in order to guarantee that they will be in accordance with Corporate policy and local statutory requirements
- Support impairment analysis and provide necessary information regarding regional overview and local risks/requirements.
- Conduct meaningful variance analysis that provides insight into variance drivers and potential improvement areas.
- Drive ongoing reviews of internal control design for applicability to the business.
- Lead and mentor a team of financial professionals, providing guidance and support for their professional development.
- Foster a positive and collaborative work environment within the finance team.
- Communicate corporate and regional policies and establish review processes to ensure financial control and compliance in designated regions.
- Support the CAO with consolidated IFRS accounts, statutory audits, internal audits, and the development of policies and procedures for accounting.
- Participate in developing and enforcing financial procedures, processes, and guidelines that will improve business.
- Performs other duties and participates in special projects as assigned.
Education and/or Experience:
- Bachelor’s degree in Accounting, Finance, or a closely related field. CPA, ACCA, CIMA, and CPC qualifications are preferred.
- Extensive knowledge of IFRS accounting procedures and standards.
- Knowledge of ERP accounting systems, preferably SAP.
- Bilingual in English and Spanish is a must.
- Experience with Maquiladoras companies and their regulations.
- Strong analytical and problem-solving skills with keen attention to detail.
- Excellent communication and interpersonal abilities.
- Proficiency in financial software and advanced Excel skills.
- Ability to work under pressure and meet tight deadlines.
- Proven experience as a Financial Controller or similar role, with experience in financial management and accounting.
Thank you for your interest in a career with Varel Energy Solutions.