This role is fully remote and can be done anywhere in the US.
We have multiple opportunities available:
Revenue Manager, Velocloud (People Manager)
Revenue Manager, Velocloud (Individual Contributor)
The Elevator Pitch: Why will you enjoy this new opportunity?
This Revenue Manager position provides a unique opportunity to grow your career by deepening your financial and accounting expertise and your leadership and people management skills. The job will expand and challenge your knowledge of ASC 606 accounting concepts and applying the revenue treatment in NetSuite and RevStream, the system application for recording revenue. You will support a business with exciting technology and provide continued growth to learn and broaden your business acumen.
Helping our customers succeed in their digital transformation is a core value at VMware. As part of the Revenue team you will be surrounded by an organization that believes in VMware’s EPIC2 Values (Execution, Passion, Integrity, Customers, and Community). You will be challenged to think outside the box and grow through close collaboration with the hardworking team in VMware Sales Operations and Management, Legal, and Finance.
What is primary need, technical challenge, and/or problem you will be responsible for?
The primary need is to lead our VeloCloud Revenue Team in day to day activities including supporting team read, analyze, and interpret enterprise license agreements and general revenue documents and contracts. You will be expected to critically evaluate the offering and apply revenue treatment of ASC 606. Manager will need to understand how to work within NetSuite and ensure SSP-FMV calculation is appropriate. Perform month and quarter end close process, reporting, disclosures, SOX activities, work with auditors, and review new product offerings and ensure appropriate revenue treatment.
Success in the Role: What are the performance goals over the first 6-12 months you will work toward completing?
Analyze and interpret license agreements and revenue contracts:
- Within 30 days of employment, become competent with VMware’s revenue rules, guidelines, and standard operations.
- You will work with sales management, legal and sales operations to ensure proper compliance with revenue recognition rules and guidelines. You will also ensure proper procedure with local accounting standards specifically, ASC 606 and US GAAP.
- Manage team day to day operations and support all HR related activities.
- Fully understand the product offering, perform with efficiency to convert offering to revenue recognition. Close out the quarter with all Sales Order have been reviewed and revenue plans are schedule.
- Perform designated month and quarter end close activity, reporting, disclosures and SOX.
What type of work will you be doing? What assignments, requirements, or skills will you be performing on a regular basis?
Your regular activities may be modified to suit your professional strengths, but you can expect a variety of the following assignments:
- On a daily basis, manage the team that is transacting the review of sales orders and performing revenue treatments in NetSuite. Ensure accuracy and completeness that includes proper carve/break out and applying SSP-FMV. Meet with team regularly on escalations and issues. Work with technical system teams to address any technical system issues.
- Provide Revenue guidance and support to cross functional teams including pre-booking review of non-standard arrangements, and appropriate set-up for new unique contracts with non-standard terms.
- Own the review of monthly and quarterly close tasks, including preparation of various journal entries, accruals, allowances, and reconciliations.
- Assist in identifying and implementing process improvements and automating manual processes where possible
- Participate in ongoing projects to improve processes, implement new systems, integrate with other systems and system set up for NPI for revenue attributes.
- Review all monthly/quarterly financial reports and disclosures (Deferred Revenue STLT, Deferred Roll Forward, Remaining Performance Obligations, AR Unbilled)
- Adherence to Revenue SOX Controls, including checklist preparation, testing and perform related procedures and narratives.
- Assist with audit requests as needed
What is the leadership like for this role? What is the structure and culture of the team like?
You will be joining the Revenue Assurance team. The 100+ person Revenue Assurance Team is comprised of Revenue Analysts, Managers, Accountants, Operations and Deal Assurance Specialists. The global team is spread throughout VMware offices including Palo Alto, CA, Atlanta, GA, Austin, TX, Cork, IE, Bangalore, India and Singapore.
The team culture is one based on building trust, on-going development through coaching, and giving back to the community through service learning.
The hiring manager for this role is a Director, Revenue Accounting. An accomplished revenue director and project leader with expertise in revenue compliance, audit processes, reporting, contract reviews, new product accounting, and revenue forecast. A proven record of ensuring revenue compliance with IAS-18, ASC 605 and ASC 606 guidelines. Experience in SOX compliance to protect financial reporting integrity. Able to collaborate with other company departments and outside auditors, providing an invaluable interface between critical accounting professionals. Expert in developing accounting processes for new products, leading teams and staff through data conversion projects. Management philosophy is about encouraging everyone on the team to be independent thinkers, analytical and always looks at way to be efficient and/or improve processes. Looks for people who works well in a team environment and always willing to pitch in to help with the overall objective and goals of the department.
What are the benefits and perks of working at VMware?
You and your loved ones will be supported with a competitive and comprehensive benefits package. Below are some highlights, or you can view the complete benefits package by visiting www.benefits.vmware.com.
- Employee Stock Purchase Plan
- Medical Coverage, Retirement, and Parental Leave Plans for All Family Types
- Generous Time Off Programs
- 40 hours of paid time to volunteer in your community
- Rethink's Neurodiversity program to support parents raising children with learning or behavior challenges, or developmental disabilities
- Financial contributions to your ongoing development (conference participation, trainings, course work, etc.)
Healthy and local inspired snacks in all our on-site pantries
- This job requisition is not eligible for employment-based immigration sponsored by VMware.
Category : Finance
Experience: Manager and Professional
Full Time/ Part Time: Full Time
Posted Date: 2021-09-16
VMware Company Overview: At VMware, we believe that software has the power to unlock new opportunities for people and our planet. We look beyond the barriers of compromise to engineer new ways to make technologies work together seamlessly. Our cloud, mobility, and security software form a flexible, consistent digital foundation for securely delivering the apps, services and experiences that are transforming business innovation around the globe. At the core of what we do are our people who deeply value execution, passion, integrity, customers, and community. Shape what’s possible today at http://careers.vmware.com.
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