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Financial Compliance Specialist for Revenue Recognition

1 week ago


Manila, National Capital Region, Philippines Fresenius Medical Care Full time
About the Role

We are seeking a highly skilled Financial Compliance Specialist to join our team at Fresenius Medical Care. This role will be responsible for ensuring accurate revenue recognition in compliance with IFRS 15 standards, managing deal structures, and maintaining the integrity of financial records in SAP RAR.

Key Responsibilities
  • Validate approved running sheets, legal contracts, and business designs in SAP RAR to ensure accurate revenue recognition in compliance with IFRS 15 standards.

  • Strong ability to interpret and classify complex contract terms, including payment terms and performance obligations, in alignment with IFRS 15.

  • Experience in determining transaction prices, allocating revenue across multiple performance obligations, and maintaining detailed tracking systems.

  • Solid understanding of preparing journal entries and applying revenue recognition principles (over time or point-in-time) as per IFRS 15 standards.

  • Proven experience reconciling deferred and accrued revenue accounts, managing contract modifications, and supporting external audit processes.

  • Analyze and post adjustments for legacy contracts outside RAR and manage IFRS 15 adjustments, including closing transactions.

  • Review and ensure the accuracy of IFRS 15 adjustments in financial records and standard revenue accounting reports.

Qualifications and Requirements
  • The candidate must have a Bachelor's degree in Accountancy.

  • Must be a licensed CPA.

  • Proven experience in revenue accounting and IFRS 15 compliance preferably in a GBS or shared service environment.

  • Prior experience in handling a team of accountants.

  • Proficiency in SAP RAR and revenue accounting tools.

  • Strong analytical skills in terms of interpreting financial data and identifying discrepancies.

  • Excellent communication and interpersonal skills to collaborate with cross-functional teams.