Senior Financial Analyst
Sony MusicNew York, NY
Full Time Job
The Sr. Financial Analyst is responsible for performing financial reporting, forecasting, budgeting and analysis functions integral to supporting the business operations of The Thread Shop, Sony Music’s centralized merchandising company.
• Managing the full Sony Music Merchandising (The Thread Shop, a Division of the Commercial Music Group) P&L and balance sheet. This includes being responsible for revenue, cost of sales, royalty expense, operational/overhead expense and balance sheet analysis.
• Preparing the monthly close, all related monthly journal entries, reporting and periodic artist/label P&L’s for the business unit.
• Participating in the preparation of the annual business plan and monthly forecasts.
• Monitoring overhead spending against budgets.
• Collaborating with the Commercial Music Group SVP of Finance and The Thread Shop to set short and long term operational goals.
• Working with Label Finance, Release Planning, and the Royalties group to ensure proper communication channels exist.
• Ensuring timely invoicing of customers and collection.
• Reviewing artist royalty statements and coordinate with the Royalties group to ensure timely rendering.
• Providing financial support/analysis for potential new rights acquisitions and pricing analysis for new and existing products.
• Assisting/supporting the integration of The Thread Shop into Sony Music’s systems and processes.
• Developing a keen understanding of The Thread Shop Retail, Tour, and Licensing revenue streams for operational support and continuous development of best practices.
Highlighted functions for each area include:
• Invoicing customers after confirming proof of delivery.
• Ensuring proper accounting of revenues, costs, and artist royalties.
• Managing the AtVenu system – ensure data integrity, utilize data to prepare tour accountings and analysis.
• Preparing and reviewing artist tour accounting statements.
• Booking journal entries to reflect tour activity.
• Tracking artist deal terms and advances against recoupment.
• Tracking license deal terms and advances against earnings.
• Managing cash receipts for licenses.
• Journalizing revenue and coordinating with the Royalties group to record artist expenses.
• Bachelor’s degree with concentration in Finance or Accounting.
• Minimum 2-4 years of business experience in accounting or financial analysis role (entertainment / music industry experience a plus, with an interest in music being ideal).
• Working knowledge of GAAP, financial reporting preferred.
• Ideal candidate may be a CPA or working toward certification.
• Public accounting experience a plus.
• Proficient in Microsoft Office suite of applications (Excel, Word, Access, PowerPoint, Outlook). An emphasis on Access database modeling would be highly preferred.
• Experience with SAP and Hyperion business software preferred.
• Excellent analytical, verbal and written communication and interpersonal skills.
• Ability to consolidate and summarize large amounts of data down to a management reporting level.
• Excellent presentation skills, with an ability to present the data to management, including speaking to the trends and major drivers of the activity.
• Well organized, detail oriented with ability to work under pressure and meet deadlines while managing multiple concurrent tasks.
• Must demonstrate strong initiative.
• Ability to proactively and productively work in team settings, including being receptive, open minded and objective when encountering diverse points of view.
• Must set high standards of performance for one’s self, strive for distinction in all tasks and exhibit sense of pride in work product.