Universal Music GroupTaipei, GA
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Finance Controller, UMPG Taiwan
Reports To: General Manager UMPG Taiwan & SVP Finance, APAC
Location of Work: Taipei
Universal Music Publishing is part of Universal Music Group. Universal Music Publishing Group (UMPG) is a leading global music publisher with 47 offices in 45 countries. Headquartered in Los Angeles, UMPG represents music across every genre from some of the world’s most important songwriters and catalogs.
UMPG is also a global leader in Classical, Christian/Gospel, and Production Music. The company plays a major role in film and TV, providing creative and synch licensing services, and administration for such companies as Warner Bros. Pictures, Universal Pictures, HBO, DreamWorks, DreamWorks Animation, NBC and Sesame Workshop, among others.
The overall purpose of this role is to conduct precise and timely management reporting of UMPG Taipei to management, head office or other parties as required. The financial operations of UMPG Taiwan must be efficient, transparent, and conform to UMG accounting policies, SOX requirements, and all local statutory requirements as necessary. This involves the preparation of management accounts, analytics and narratives, the preparation of statutory accounts, the preparation and lodgement of tax returns, and filing of company office returns and any other documentation as required.
This role is an all-encompassing financial position which demands precise accounting and timely management actual, forecast and budget reporting submissions that adhere to UMG deadlines or other deadlines as required, and to ensure the strict compliance to the UMG TRA (Transactions Requiring Approval) and to the local Table of Authorities. It also requires maximising local profit via efficient local operating structures, maximising shareholders returns by minimising statutory taxes, reviewing and advising on local deal analysis’s to maximise returns on investments, acting as the SOX champion and ensuring all areas of UMPG Taiwan are operating within the SOX documented procedures (and as such ensuring that no fraud or illegal activities can occur), to update and test SOX documentation as required, track revenues to ensure timely receipt as per contractual obligations, supervise and approve PREF royalty runs and royalty/advance payments, and lastly to work closely with the MD and advise on any operating issues as required.
PRIMARY DUTIES & RESPONSIBILITIES
JDE General Ledger Accounting and Management reporting requirements
1. Maintain precise JDE G/L accounts which conform to UMG accounting policies.
2. Prepare JDE account reconciliations and reviews as specified per the SOX Finance procedures. Ensure approval is as per SOX Finance procedures.
3. Prepare precise management accounting reporting for submission to Corporate Finance UK or UMPG HQ (Los Angeles) as per the due dates for “Actuals, Forecasts and Budgets” or as required.
4. Prepare narratives for submission for UMPG HQ and Corporate Finance UK as required.
1. Prepare the local statutory accounts and submit to our local auditors.
2. File all local statutory accounts with the company’s office by their due date.
3. Prepare the tax returns of the UMPG entities and submit to our tax advisers. Ensure returns are lodged before their due date.
4. Assist in tax planning of the UMPG entities such that taxes paid are legally minimised and the shareholders earnings are maximised (e.g. the local UMG tax consolidation ensures that UMPG does not pay any income taxes).
5. Prepare and lodge all other tax returns as required e.g. VAT, W/tax, employee benefits etc.
6. Complete and lodge all companies’ office returns as required.
7. Prepare and file all company secretarial documents (minutes, resolutions etc) in accordance with local company law.
8. Ensure compliance with all other statutory requirements.
Cash flow management
1. Track cash collections from revenue sources and ensure timely receipt as per contractual guidelines.
2. Ensure cash collections are banked in an expedient manner.
3. Ensure accurate cash flow forecasts are prepared when required at forecast or plan as required.
4. Liaise with Vivendi Treasury to and all material payments or receipts are identified and all material foreign exchange commitments are hedged.
1. Ensure all fixed assets bought are pre-approved done so with approval as required by the SOX Finance procedures.
2. Maintain the fixed assets register ensuring it is reconciled to the general ledger.
Sarbanes Oxley (SOX)
1. Act as the SOX champion for UMPG Taiwan.
2. As such review and maintain the SOX narratives, flowcharts, and SOD’s, and Org charts and ensure all documentation is up to date.
3. Ensure UMPG Taiwan complies to the local Table of Authority (TOA) and the global UMPG Transactions Requiring Approval (TRA).
4. Review and maintain the Taiwan Table of Authority and ensure that it is approved by UMPG HQ.
5. Perform SOX walkthrough testing in all processes when required and liaise with local staff and UMPG-HQ on any deficiencies, remedies or modifications to improve or correct procedures.
6. Ensure all SOX reporting requirements are met.
7. Ensure all other SOX reporting such as Progress Reports or Costs are completed as required.
1. Provide deal analytics (IRR’s) to the MD and A&R incumbent for proposed local writer agreements as required.
2. Provide advice to the MD and A&R incumbent on the best deals structures to maximise our return.
3. Seek approval for local deals from UMPG HQ as required.
4. Ensure all new writer agreements comply to local contract requirements and the UMPG TRA.
1. Supervise and approve the quarterly PREF royalty runs, ensuring compliance to local royalty SOX procedures.
2. Supervise and approve our quarterly royalty payments.
3. Approve all local UMPG payments including advances.
4. Be actively involved with the day-to-day operations of the UMPG Taiwan operations (copyright, licensing, A&R, and royalties) to provide advice or recommendations as required to ensure efficiency, compliance to all SOX and any other local statutory or otherwise requirements.
5. Liaise with UMPG-HQ and UMG UK to ensure all local tax procedures/dealings are approved.
6. Liaison with UMPG-HQ and UMG UK to ensure all legal entity board changes, dissolutions, or any company changes are approved.
SKILLS ESSENTIAL TO THE JOB
• Extensive accounting knowledge inclusive of local accounting standards, IFRS and French French GAAP.
• Strong statutory company tax knowledge inclusive of income tax, VAT, Withholding Tax, payroll, and other taxes as required.
• Strong company law knowledge.
• Extensive analytical skills.
• Extensive SOX skills and ability to ensure company compliance to SOX.
• Preferred HFM, SAP and JDE experience.
• Extensive Excel, Word and Powerpoint and experience
• Strong music repertoire knowledge of both local and international works.
• Ability to interpret recording and licensing agreements and extract salient accounting and business points from assumptions and projections.
• Strong managerial skills due to the close working nature with other staff.
• Strong organisational skills due to the high scope of the position.
• Fluent in English.
• Extensive knowledge of industry, including issues which dire