Job Description
About Sotheby's Established in 1744, Sotheby’s promotes access and ownership of exceptional art and luxury objects through auctions, private sales and retail. Our deep expertise across 70 selling categories is supported by a leading technology platform and a global network of specialists spanning 40 countries. Selling categories include Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewelry, Watches, Wine and Spirits and Design, as well as collectible cars and real estate through RM Sotheby’s and Concierge. Sotheby’s Financial Services is a leading art lender and provides capital solutions for collectors around the world, having originated more than $12 billion in loans since its inception. Sotheby’s new global headquarters is now open at the iconic Breuer building at 945 Madison Avenue in New York City. Responsibilities Oversee the Company’s accounting policy function: Identify, analyze, summary, document and conclude on the Company’s complex transactions from an accounting perspective, and communicate results to relevant stakeholders (including but not limited to, financings/debt, leases, revenue, investments, consolidations and other complex/non-standard transactions) from both a US GAAP and IFRS perspective; Monitor and evaluate new FASB accounting standards and lead implementation efforts on all new standards including fully analyzing potential implications, documenting conclusions and working with finance to implement technically sound and operationally practical accounting guidance; Maintain and keep current the Company’s accounting policies and policy library; Provide company trainings to staff members on key accounting policy topics, including but not limited to, debt transactions, leases, revenue recognition, etc.; Key technical accounting liaison to our RM Sotheby’s luxury automobiles subsidiary; Partner with business units and departments across the organization, including Treasury, Tax, Legal, Financial Planning, Executive Management, and others. Own various areas of the financial accounting, reporting and audit process, including, but not limited to: Debt/financing transactions; CECL calculations; Debt issuance costs; Asset recoverability assessments; Purchase accounting/minority investments accounting; Prepare and/or review various financial statement footnotes. Lead the preparation of the quarterly unaudited and annual audited Property reports (including all financial statements and footnotes) for three or more legal entities, ensuring timely and quality preparation of all financial statements and audit requests; Enhance Sotheby’s internal control procedures, including, but not limited to: Reviewing and/or preparing monthly reconciliations in Blackline; Review reconciliations prepared by Finance to ensure consistency in preparation of reconciliations across similar accounts, and advise reconciliation preparer/reviewer of potential improvements required; Assist in review of the Sotheby’s cash flow statement process (individual and consolidated) and assist in efforts to make that process more efficient Act as a key Corporate Controller’s Group financial reporting liaison on the Company’s implementation of new Environment, Social and Governance (“ESG”) standards, including the new European Union CSRD rules and California ESG regulations (working knowledge of ESG concepts preferred but not required) Other special projects, as requested Ideal Experience & Competencies Bachelor’s Degree in Accounting required; 10+ years of accounting experience (minimum 5 years in public accounting, with experience outside of public is a plus); CPA required, active license; Strong knowledge of Financial Statement Reporting and US GAAP with a working knowledge of IFRS preferred Ability to stay knowledgeable about, research and reach well-reasoned conclusions on technical accounting issues and leverage Big 4 firm research tools; Forward thinking business professional with strong analytical and problem solving skills; Strong attention to detail, demonstrated integrity and professional temperament; Effective communicator who can distill down and present complex accounting topics to senior executives; SAP and Hyperion/HFM experience preferred (if candidate does not have, must be willing to learn and immerse themselves within the systems). Experience with DFIN Donnelly financial reporting tool a plus; Internal controls experience; Strong project manager skills with ability to multitask and prioritize diverse tasks; Ability to motivate teams to produce quality materials withi