Log In
Sign Up
Analytical / Customer Service / Education / GOAL / Hotel / Insurance / Other / Others / Others / Senior Management / Training / Writing
(USA-OH-Columbus) Senior Manager, Foreign Exchange Accounting Full Time
Job Number 24164992
Job Category Finance & Accounting
Location Marriott International HQ, 7750 Wisconsin Avenue, Bethesda, Maryland, United States
Schedule Full-Time
Located Remotely? Y
Relocation? N
Position Type Management
Position Summary
The Senior Manager of Corporate Financial Accounting is responsible for managing all aspects of accounting and analysis for Marriott’s foreign currency transactions, foreign currency derivatives, and foreign currency exposures. Central roles of this position include managing a team through the monthly close, ensuring proper accounting, reporting, and controls are maintained, and providing leadership to others throughout the organization on foreign currency technical accounting matters. The position will play a key role in partnering with multiple stakeholders to ensure the accurate and timely delivery of department deliverables relating to Marriott’s extensive foreign currency activities. This highly visible position reports to the Director Corporate Financial Accounting (“CFA”) and is a key member of the CFA management team.
Expected Contributions and Responsibilities
Direct a team of finance and accounting professionals, prioritize projects and workload of the team and its individual members, and establish deadlines around the following department priorities:
+ Ensure proper accounting for a significant volume of foreign transactions, including translation of financial statements and revaluation of foreign currency transactions.
Demonstrate a solid understanding of complex foreign currency concepts, including proper recognition of foreign exchange gains/losses for major transactions.
+ Monitor and review system postings from Kyriba (Treasury Management System) to ensure accuracy of derivative instrument transactions.
+ Coordinate with business partners to review strategic initiatives (e.g., acquisitions, joint ventures, leases, etc.) for foreign currency implications and consult with personnel regarding proper accounting treatment. Evaluate foreign currency hedging transactions and determine proper hedge accounting treatment in support of the Company’s hedging program, which represents $6B in annual trades.
+ Maintain and enhance monthly reporting of foreign exchange activity to key stakeholders within the organization, including senior management. For external reporting, partner with Financial Reporting to ensure compliance with US GAAP reporting standards.
+ Provide training to Global Finance associates regarding foreign exchange principles and methods.
+ Assess the nature of foreign entity business operations to determine the proper functional currency of new international subsidiaries and branches.
+ Analyze foreign currency activity included in Marriott’s financial results to ensure it is consistent with expectations relative to Marriott’s exposed foreign asset and liability position.
+ Actively support foreign currency hedge committee initiatives by ensuring adequate accounting processes and controls of hedging activities.
+ Support internal audit and external auditor testing of foreign exchange income statement and balance sheet activity, as required.
+ Ensure external reporting (10K, 10Q) disclosures related to foreign exchange, derivatives and hedging are completed in an accurate, timely manner.
+ Maintain systems and controls to ensure compliance with MIP-66 reporting and reconciliation requirements relating to foreign exchange and foreign currency hedging.
+ Perform other duties as requested by department leaders.
+ Participate in special projects/cross training opportunities as they become available.
Knowledge, Skills, and Attributes
+ Strong knowledge of U.S. generally accepted accounting principles.
+ High degree of initiative, personal responsibility, and integrity
+ Experience with accounting in a multi-currency environment under multiple bases of accounting.
+ Strong business process and documentation skills; capable of developing effective processes, enhancing existing processes, and producing high quality results.
+ Proven manager with ability to provide counsel and lead a team toward the accomplishment of organizational goals and objectives and promote a positive working environment, including promoting the development of team members. Motivator; inspires extraordinary performance in others.
+ Ability to work effectively in a collaborative work environment.
Ability to concisely articulate issues to a variety of individuals at multiple levels within Marriott, as well as external parties.
+ Ability to make decisions in a timely manner and under pressure. Comfort with challenging the status quo to improve effectiveness.
+ At ease in an environment of change; supports, manages, and initiates change within the organization.
+ Ability to sell ideas persuasively, settling differences without damaging relationships; able to be direct while remaining diplomatic.
+ Analytical; makes decisions using data; able to analyze and understand complex files and documents.
+ Excellent PC skills: Advance knowledge of Microsoft applications including Excel, Power Query, Power BI, and Power Automate; Experience with Peoplesoft and Hyperion a plus.
+ Able to take complex information and present it in a clear and concise manner.
+ Effective problem-solving abilities; recognizes and researches problems, identifies their underlying causes, and recommends and implements solutions.
+ Excellent organizational skills; effective in planning and managing multiple priorities to meet deadlines.
+ Exceptional communication skills; communicates effectively both orally and in writing; listens to others and effectively comprehends information.
+ Excellent interpersonal skills; able to build and maintain key relationships; able to influence others; team player.
+ Able to work in a matrix organization, partnering with resources to achieve business results through others.
+ Active learner; applies past experiences to identify alternative solutions for current problems, able to understand and adjust to changing priorities, circumstances, direction, and personal styles.
+ Customer service orientation with the ability to achieve and maintain customer satisfaction.
+ Able to establish credibility necessary to influence and drive ideas.
Specific Candidate Profile
+ Baccalaureate degree in Accounting, Finance, or related discipline required; CPA, MBA, or advanced degree in Accounting or Finance strongly preferred.
+ Six or more years of progressive job experience in accounting/finance field; international accounting exposure preferred.
+ Prior experience managing a team in a complex, service-intensive, and deadline-driven environment a strong plus.
+ Experience in a large public accounting firm strongly preferred.
The salary range for this position is $96,038 to $179,270 annually. In addition to the annual salary, the position will be eligible to receive an annual bonus.
Washington Applicants Only: Employees will accrue 0.04616 PTO balance for every hour worked and eligible to receive minimum of 7 holidays annually.
All locations offer coverage for medical, dental, vision, health care flexible spending account, dependent care flexible spending account, life insurance, disability insurance, accident insurance, adoption expense reimbursements, paid parental leave, educational assistance, 401(k) plan, stock purchase plan, discounts at Marriott properties, commuter benefits, employee assistance plan, and childcare discounts. Benefits are subject to terms and conditions, which may include rules regarding eligibility, enrollment, waiting period, contribution, benefit limits, election changes, benefit exclusions, and others.
Marriott HQ is committed to a hybrid work environment that enables associates to Be connected.
Headquarters-based positions are considered hybrid, for candidates within a commuting distance to Bethesda, MD; candidates outside of commuting distance to Bethesda, MD will be considered for Remote positions.
The application deadline for this position is 28 days after the date of this posting, September 20, 2024
_Marriott International is an equal opportunity employer. We believe in hiring a diverse workforce and sustaining an inclusive, people-first culture. We are committed to non-discrimination on any protected basis, such as disability and veteran status, or any other basis covered under applicable law._
Marriott International is the world’s largest hotel company, with more brands, more hotels and more opportunities for associates to grow and succeed. Be where you can do your best work, begin your purpose, belong to an amazing global team, and become the best version of you.
Source ⇲
Jobs