Philip Morris Korea Inc. is currently seeking talented, business-savvy professionals to join its Finance team, based in Seoul, Korea. This is a unique opportunity to join a world-class multinational company and an industry leader in Korea in a role that will present you with outstanding professional challenges, diverse learning opportunities and career growth.
As part of dynamic Finance team, you will in charge of allocated tax filling (including CTR,VAT, Excise Tax, excluding Customs), allocated local statutory (including KGAPP) accounting, and internal (including USGAAP(IFRS)) accounting closing, financial statement and reporting. You will perform FG import ICP (Inter-company pricing) analysis and follow-up activities after ROS/Import pricing/Margin calculation. You will lead accounting, reporting both of USGAAP(IFRS) and KGAAP and Corporate tax, VAP Excise, Tax filling reporting in any of new business or business model change. Also communicate and cooperate with regional and international team, and provide accurate and timely actual financial reports, accounting/tax treatment guide and analysis to satisfy internal/external financial information user. You will be the US and Local Financial Accounting/Tax reporting expert of the Finance team to coordinate with PMK stakeholders/PMI Consolidation/Regional Finance/FSC or external consultants.
• Ensure the financial statements are fairly presented in line with USGAAP(IFRS), PMI(Philip Morris International) P&Ps/Finance Standard, SOX requirement and Korean GAAP, local statutory accounting/tax requirements
• Perform and ensure the reporting activities (both internal and external including MRL) are done in an accurate and timely manner, and provide reliable financial information to both internal and external stakeholders. i.e. to ensure any new finance standards or local/US GAAP(IFRS) or tax requirement are timely shared within the team to ensure compliance at the earliest.
• Project amount quarterly (1-3 years) for certain accounts including income tax provision/deferred tax provision timely and accurately
• Interim local/US GAAP(IFRS) Financial Statements preparation at requirement
Monthly/Yearly Accounting Book Closing
• Ensure all of closing process and activities are properly done timely based on communication with PMI and FSC
• Ensure to include fair record reflecting business activities
• Post necessary JE with calculation
Financial Records and Control Procedures
• Identify problems or issues from the current accounting practices by monitoring and analyzing accounting records & financial results and guide/report/communicate/correct/enhance
• Manage process of recording from business to financial record through effective communication with Accounting firm, other affiliates, RHQ, PMI based on knowledge of theory, practice and business
• Maintain and increase of awareness of financial considerations and process to business departments
• Perform and ensure to make new accounting treatment is working based on internal/external accounting requirement and new business
• Manage provision, accrual, valuation, historical record/calculation for accounting/Tax
Tax filing & Analysis
• Lead and perform accurate/timely Tax filing for taxes decided to be handed (including CTR(Corporate tax returns) based on statutory financial statements, VAT, Excise Taxes, other WHT but Excluding Customs, Individual Income tax)(scope is changeable)
• Ensure to perform tax filing and reporting (including ITQ) by coordinating relevant departments and FSC and regional/Local tax team.
• Consider and understand market view/legal entity view and local statutory IS for tax accounting and perform analysis and projection
• Interim tax adjustments and filing collaborating with Operation finance, Financial Reporting, FSC (Indonesia shared service center), Budget team and Taxation team and regional /PMI relevant parties
Inter-Company Pricing, business model change and related adjustments
• Propose FG import ICP (inter-company pricing) for RRP products and perform analysis of statutory based income statements for ICP update and the related adjustment.
• Lead and perform follow-up activities after ROS/Import Price/Margin calculation
• Mitigate any possible tax challenges and document relevant information to be provided to tax authority for ICP in charge
• Provide analysis pricing and financial impact and cooperate as member of business model change and contract
Analysis on financial and tax impacts
• Analyze and report for past and status and future accounting/financial impact in USGAAP(IFRS), KGAAP purpose
• Analyze Korea-other countries FTA impact
• Trace retroactive or prospective FTA impacts and propose accounting treatments for USGAAP, KGAAP, Tax adjustment
• PwC Audit, government tax audit support with data provision, analysis and communication/report
• Manage long term accounting record including FTA and Tax audit GAAP/Tax difference
Support the Finance Manager
• Ensure proper SOX implementation and take ownership for any financial reporting requirements. Ensure zero SOX deficiency or escalate issues before end of quarter to ensure timely remedial actions
• Coordinate with PWC to ensure any statutory, USGAAP or SOX review are properly and timely completed to meet any internal deadlines & escalate for any issue with the services/performance to FD/Manager if necessary within adequate time
• Analyze and discuss status and propose action if any area to comply accounting, tax filing and reporting
Lead project base activity and tasks
• Take the leading role for responsible tasks to establish the right level of control procedures in the group to ensure proper accounting treatment, efficient reporting and tax reporting/filing (including Excise, VAT, Corporate Tax, other WHT) to align with USGAAP(IFRS) and KGAAP and tax requirement.
• Escalate any issues and concerns on timely basis to state fair FS and minimize any potential unfavorable tax assessments.
• Mitigate any possible tax challenges and document relevant information to be provided to tax authority in cooperation with Taxation team
• Lead Accounting, Reporting for both of USGAAP(IFRS) and KGAAP and Corporate tax, VAT Excise, Tax filing reporting in any of new business or business model change
• Set the procedure and manual for adequate accounting/reporting and tax filing
• Ensure that any outsourced agency (including PWC) will accurately and timely furnish proper financial reporting, any tax returns to minimize penalty and interest, whilst collaborating with tax team to identify / execute any potential opportunities for optimization purpose.
• Settle roles and responsibility with other functions, FSC and external consultant
• 7-10 years’ experiences in Finance department including at least 3 years of KGAAP annual closing & reporting or in charge of CTR (including R/E adjustment)
• KICPA or AICPA is mandatory (KICPA is preferred)
• Accounting firm experience preferred
• Experience to use SAP program is preferred
• Bachelor’s degree or above, with major related to Business, Accounting, or Finance preferred
• Good command of written and spoken English and Korean