(European business encompasses Expedia and Hotels.com websites, Expedia’s private labels and Expedia Partner Services Group (global purchasing) for Europe, the Middle East and Africa (EMEA). International annual revenue, primarily Europe revenue is $0.9m) – London, UK
This role is accountable for defining the strategy, structure and processes by which financial control, US GAAP reporting and compliance within Europe are achieved.
The role leads a European accounting management team based in London and Paris responsible for the following functions: General Ledger, Revenue Accounting, Accounts Payable, Financial Operations, Payroll, Project Management and Sarbanes Oxley compliance.
The role has indirect accountability for a centralized accounting team of 30 people and provision of compliance & accounting support to FP&A teams in each country.
The role reports to the Chief Accounting Officer of the company based in the Global HQ in Seattle (USA), and partners with the European leadership team.
The role holds an annual budget for the department of $4m.
Establishing this newly created role by designing and delivering a new European accounting organization able to support future growth within the region:
§Moved from a territory organization to a functional organization structured around Financial Control, Shared Services functions, Revenue Accounting function and Project Management
§Determined clear ownership and primary points of contact within the team for each key budget owners (4 business divisions and European corporate functions).
§Recruitment of new team members (7 positions in 1 year) to deliver the new organization and upgrade talent level within the team to create succession.
§Harmonization of accounting processes and smarter use of technology within 2 different locations including close process acceleration, implementation of standardized electronic Purchase Orders processes and the design of a single approval matrix for Europe
§Design of an annual US GAAP training plan for the European finance team
Design and implementation of new financial and tax models in support of business expansion. Developed markets (UK, Germany, France and Italy) grow by 30% year on year and Expedia enters about 5 to 10 new countries in the region each year by opening both new points of sale and new points of supply.
§Strategic business review in partnership with business leaders to determine their requirements in new countries and define appropriate financial structures to comply with local regulations
§Defined accounting treatments, system set up and processes to roll out a new tax structure in Europe designed to optimize corporate income tax as Europe is growing in significance in global profit.
§ Defined accounting treatments, system set up and processes to roll out a new tax structure in Europe designed to optimize corporate income tax as Europe is growing in significance in global profit.
§Identified a programme of attitudinal and process change for global implementation to move from the current country specific close process to a consistent and accelerated close process from US GAAP to local GAAP, reducing the requirement for local language accountancy.
Provision of strategic accounting support to EU business and global finance leaders and improvement in overall accuracy of the financial statements:
§Developed influential relationships with business leaders which ensure that US GAAP accounting positions for Europe affecting financial statements are considered in advance of commercial decisions.
§Improved accuracy of revenue forecast and actuals by creating the first dedicated revenue accounting role based in Europe partnering with the Partner Services Group on contracts review and determining appropriate accounting treatments for new revenue streams.
§Grow credibility and influence of the accounting department by participating in monthly point reviews of performance and re forecasting with FP&A partners and in quarterly business reviews with the European leadership team. Designed a roadmap to communicate finance vision and objectives to non financial business partners.