Revenue Accountant

At McLaren Racing, we’re not just here to try to take the chequered flag. We’re here to excite our fans, inspire our people and deliver for our partners. And we’re also committed to evolving our sport, our industry, and our technology, too.

Purpose of the Role: The Revenue accountant will lead the technical accounting of revenue recognition and ensure compliance with accounting standards. There are 2 direct reports, whose combined team responsibility is to ensure the smooth running of the department in debt collection & raising invoices. This role will be a technical accounting role, with a strong emphasis of leading a small team in the day to day activities. It will require a deep understanding of FRS 102 and ability to understand, digest and summarise key revenue accounting terms.

Role Dimensions:

• Work with the team to develop a strategy for the team, maximising technology and reducing manual work or duplication where possible.
• Supporting the business in raising invoices and collecting debt on time.
• Leadership of a small team who have well established responsibilities within the organisation.
• Setting objectives & being the responsible individual for accountability of the whole end to end processes.

Principal Accountabilities:

• Maintain detailed records of revenue transactions and ensure compliance with applicable standards.
• Support the monthly and yearly financial closing processes.
• Work with external auditors to support the annual audit process.
• Produce inputs to the weekly cashflow forecast, and work with the wider finance team to update the live cash forecast.
• Identify opportunities for process improvements in revenue recognition and reporting.
• Responsible for owning the end-to-end revenue policies and processes across the various revenue streams.
• Posting of month end journals, as well as review of team members journals for other revenue streams.
• Lead a small team of competent staff, who are responsible for the day-to-day invoicing and debt chasing.
• Custodian of all revenue streams and reconciliation back to contract, supporting the commercial team in revenue recognition.
• Designing the control environment of the department, including performing internal audit checks.
• Proactively assist in putting in place improved systems to allow better decisions to be taken.
• Reporting to the leadership team on upcoming sales invoices to be raised, cash received & any ageing debt.
• Balance sheet reconciliations for accrued/deferred income, with commentary on movements ready for review.
• Review of the month end reporting on aged debtors, ensuring that we maximise our working capital.
• Monthly meetings with relevant partnership heads to feedback on aged debt and to escalate recoverability.
• Working with the Cost cap reporting team in reconciling of all exchange contracts to the cost cap reporting team.
• Be aware and able to understand associated stock movements.

Knowledge, Skills and Experience:

• Maintain detailed records of revenue transactions and ensure compliance with applicable standards.
• Support the monthly and yearly financial closing processes.
• Work with external auditors to support the annual audit process.
• Produce inputs to the weekly cashflow forecast, and work with the wider finance team to update the live cash forecast.
• Identify opportunities for process improvements in revenue recognition and reporting.
• Understand and work with legal and commercial, ensuring all new contracts are reviewed, understood and key terms distributed to relevant individuals on a regular basis.
• Responsible for owning the end-to-end revenue policies and processes across the various revenue streams.
• Posting of month end journals, as well as review of team members journals for other revenue streams.
• Lead a small team of competent staff, who are responsible for the day-to-day invoicing and debt chasing.
• Custodian of all revenue streams and reconciliation back to contract, supporting the commercial team in revenue recognition.
• Designing the control environment of the department, including performing internal audit checks.
• Proactively assist in putting in place improved systems to allow better decisions to be taken.
• Reporting to the leadership team on upcoming sales invoices to be raised, cash received & any ageing debt.
• Balance sheet reconciliations for accrued/deferred income, with commentary on movements ready for review.
• Review of the month end reporting on aged debtors, ensuring that we maximise our working capital.
• Monthly meetings with relevant partnership heads to feedback on aged debt and to escalate recoverability.
• Working with the Cost cap reporting team in reconciling of all exchange contracts to the cost cap reporting team.
• Be aware and able to understand associated stock movements.

Personal Attributes:

• Collaboration – Champions diversity of thinking and inclusion by engaging in cross-functional ideation and leveraging data to avoid subjectivity.
• Strategic – Provides clear strategy, vision and direction for the business; galvanising disparate teams behind “fewer, bigger, better initiatives”.
• Credible – Persuasive and nuanced communicator; exudes gravitas and builds excitement, engagement with ease.
• Results-driven – Exceptional work ethic; takes accountability for both success and failure; continually strives for better.
• Challenges – Provides constructive feedback and challenges others to strive for more, both in innovation and meeting stakeholder needs.
• Leads – Creates the conditions which enables innovation to thrive, and which encourages calculated risk-taking; empowers individuals and develops teams.
• Role Model – Champions our values and cultivates an environment which encourages everyone to bring their true self to work.

What can McLaren offer? We constantly strive to be better tomorrow than we are today. Our ambition is to be the most pioneering and exhilarating racing team in the world, and our collective task is to set the standards for high performance in sport. We show up every day with energy and enthusiasm, ready to play our part. We encourage and support diversity, equity and inclusion. We will actively promote a culture that values difference and eliminates discrimination in our workplace. McLaren Racing is based at the iconic McLaren Technology Centre (MTC) near Woking. Our state of the art, sustainable campus offers many facilities including a gym, restaurant and indoor and outdoor break-out areas, as well as direct access to park and common land. The MTC is connected to Woking mainline station via regular shuttle buses, from which London Waterloo is a 30 minute train ride. We offer a comprehensive package of benefits including private healthcare, car schemes, life insurance and generous pension contributions.