Director of Technical Accounting&Policy - Pension - 306174

at PepsiCo Corp in Chicago, Illinois, United States

Job Description

Overview
As a member of the PepsiCo Corporate Control team, you will be part of a global team with diverse backgrounds and experiences. We look to recruit and develop high-caliber individuals from a variety of backgrounds, including candidates with traditional “Big 4” public accounting experience. Corporate Control associates gain experience supervising and leading teams and developing a broad understanding of PepsiCo’s multiple businesses. These critical experiences will help you build a rewarding and successful career at PepsiCo.

Responsibilities
The Director of Technical Accounting & Policy - Pension is primarily responsible for ensuring that PepsiCo’s defined benefit pension and post-retirement plans and the U.S. 401k savings plan are accounted for and disclosed in PepsiCo’s SEC filings, as well as, individual plan financial statements filed with the U.S. Department of Labor and the SEC, in accordance with U.S. GAAP and Form 5500 rules.  Additionally, you will assess the impact of new pension initiatives and manage the KPMG audits of individual plan financial statements. Other projects may include, for example, new accounting standard and new software implementations.

As a Director of Technical Accounting & Policy - Pension, you will:
* Review the Pension, Retiree Medical and Savings Plan footnote and related MD&A sections, including critical accounting policies, in PepsiCo’s Form 10-Qs and 10-Ks filed with the SEC. This includes review of the disclosure checklist, XBRL compliance and SOX responsibilities.
* Review quarterly reconciliation of pension and retiree medical amounts recorded by Segment Control teams and related journal entries recorded at Corporate. Review actuary’s lump-sum tracker and curtailment analysis to determine if settlement and/or curtailment gains or losses should be recorded at quarters or at year-end.
* Review year-end pension and retiree medical amounts recorded by Segment Control teams and related journal entries recorded at Corporate related to annual re-measurement of pension assets and liabilities. 
* Review pension and retiree medical plan information disclosed in the annual Proxy filed with the SEC.
* Review U.S. pension, retiree medical and 401k savings plan financial statements, ensuring completeness and accuracy of disclosures. This includes review of the disclosure checklist, XBRL compliance and controls responsibilities. Coordinate review and approvals by senior management.
* Review Form 5500 filings with the US Department of Labor for 15 pension, retiree medical, health and welfare and 401k savings plans.
* Coordinate with KPMG, actuary, other service providers and PepsiCo functions to ensure timely completion of U.S. defined benefit and U.S. and Puerto Rico 401k savings plan financial statement audits as well as audit of U.S. defined benefit annual census data. This includes review of engagement letter, management representation letter and KPMG presentations to PepsiCo Administration Committee.
* Work with external actuaries, Segment/local control, Treasury and Compensation & Benefits teams on accounting and disclosure impact assessment of pension plan initiatives globally as well as on de-risking initiatives such as plan reorganizations, lump-sum window offers and group annuity contract purchases.
* Review treasury and compensation & benefits presentations prepared for the PepsiCo board, audit committee, compensation committee and senior management (CFO, CHRO).  Serve as a member of the PepsiCo Administration Committee and coordinate with functions to support Vice President’s role on Benefits Control Committee, including review of assumptions.
* Coordinate preparation of pension slide for the Critical Accounting Policies presentation to the Audit Committee, including supporting materials and talking points.
* Coordinate quarterly Corporate pre-close meeting with PepsiCo Controller and preparation of related materials.
* Coordinate quarterly activity report preparation and submission to PepsiCo Chief Financial Officer.
* Oversight and coaching of one direct report and identification of tasks/projects that can be completed by the extended team.
* Identify opportunities to enhance, simplify and make processes more efficient, minimize conflict with quarter and year-end reporting critical path and reduce the risk of error.
* Work with SOX, Treasury, HR Operations, Legal and Compensation & Benefits teams to address controls issues and implement control and process improvements.
* Benchmark other companies’ disclosures in connection with annual exercise led by External Reporting as well as new types of transactions, new accounting pronouncements and other guidance issuances.
* Lead collection and review of data and disclosure of PepsiCo’s guarantees and commitments.
* Lead any other ad hoc projects as needed, which may include, among others, new accounting standard implementation (both pension and non-pension related), new software implementations (non-pension related) and addressing pension impact of acquisitions and divestitures.

Compensation and Benefits:
* The expected compensation range for this position is between $122,300 - $242,700 based on a full-time schedule.
* Location, confirmed job-related skills and experience will be considered in setting actual starting salary.
* Bonus based on performance and eligibility; target payout is 25% of annual salary paid out annually.
* and an additional target payout of 10% of annual salary is paid out over 3 years following the end of the performance period.
* Long term incentive equity may be awarded based on eligibility and performance.
* Paid time off subject to eligibility, including paid parental leave, vacation, sick, and bereavement.
* In addition to salary, PepsiCo offers a comprehensive benefits package to support our employees and their families, subject to elections and eligibility: Medical, Dental, Vision, Disability, Health and Dependent Care Reimbursement Accounts, Employee Assistance Program (EAP), Insurance (Accident, Group Legal, Life), Defined Contribution Retirement Plan.

Qualifications
Educational Requirements/Certifications
* Bachelor’s Degree in Accounting
* CPA required

Work experience
* Minimum of 8-10 years of experience in accounting/auditing
* “BIG 4” experience required
* Pension Accounting experience preferred
* Mix of public and private experience preferred
* Seasoned judgment
* Technical master with pragmatic approach
* Strong professional network
* Strong communication skills - excellent written and verbal skills
* Strong project planning and management skills
* Team player - highly energetic and able to interact with all levels in the organization

EEO Statement
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, or disability status.