Senior Revenue Analyst - Cloud and New Products
Middle (2-5 years)
Function: Revenue Recognition Group - Cloud and New Products
Level: Sr. Revenue Analyst
The Revenue Recognition (RevRec) group ensures the consistent application of Oracle's Corporate RevRec Policies via the review of license, hardware, cloud, support & other support related services, and professional services contracts globally.
The Sr. Global RevRec Analyst, Cloud and New Products will focus on assisting the Director, Cloud GPO and New Products to
- Enhance policies and processes around Cloud and new product offerings through organic growth and M&A
- Oversee all aspects of revenue recognition in terms of the Cloud and new product offerings including, providing support to the business related to revrec queries, creating policies and procedures, global training, both internal and external, partnering with SOX and E&Y on key controls and quarterly audit requests, and
This person must possess strong, analytical communication (verbal and written) and business partnering skillThe Sr. Global RevRec Analyst, Cloud and New Products role will be required to liaise, collaborate and foster ongoing relationships with the following people/groups:
- With the various Line of Business, Global Business Practices, Finance Systems GPO, Product Release Group, Sales Operations, Deal Management and other back office departments to understand offerings (new or changes to existing offerings), pricing, promotions, go to market strategy and systems are in accordance with Oracle’s RevRec policy, accounting rules and understood by all stakeholders.
- With Global RevRec team, Controllers’ group, SOX and external auditors (E&Y) on the system controls and application of policy and accounting literature relating to Cloud and new products.
- With Global Business Finance, and various Line of Business Operation teams to resolve revenue accounting issues encountered.
- New Revenue Guidance ASC606
- Support RevRec group’s initiative of focusing on the next generation revenue rules (ASC 606) during the key implementation and recast years and drive to ensure a smooth Cloud and new products revrec related policy and processes transition to the new rules.
- Work with business practice, deal management and business units to develop understanding of revenue generating activities for cloud serviceThis includes analysis of i) deliverables / performance obligations generally included in contracts; ii) modifications to contracts including extensions and other changes to fees payable or services deliverable under the contract; iii) contract options included in arrangements for the provision of these services;
- Liaison with technical accounting team in ensuring systems and process in place to ensure revenue is correctly recognized.
- Policy & Technical
Assist the Director, Cloud GPO and New Products to:
- Ensure Oracle’s Cloud and New Products related Rev Rec policies are kept up to date, ensuring compliance with current pronouncements and developments.
- Keep RevRec Cloud FAQ up to date for new issues/topics.
- Work with the Global RevRec team to help them address technical accounting issues that arise.
- Present more complex technical issues to RevRec management and E&Y.
- Work with the various line of business to explain and help avoid accounting issues with Cloud and New Product offerings and related professional service offerings.
- Maintain a playbook for all different contract and provisioning permutations, including the accounting conclusions and system accounting rules
- Work with Fair Value team with regards to concerns/issues with pricing and discounting in new product offerings.
- Mergers and Acquisitions
- Work closely with RevRec M&A team during all phases of acquisition process with regards to their hand over of acquired companies and identification of products related high risk areas within acquisitions.
- Ensure documentation of acquired company product offerings and accounting conclusions related to revenue classification and restricted products.
- Review New Service & Promotional Offerings
- Attend regular calls regarding product SKU set up for new parts and review, determine the appropriate accounting, and document conclusions of proposed new product offerings.
- Work with stakeholders to improve new part set-up process.
- Work with Product Development, Pricing, Global Business Practices and various line of business on new offerings.
- Review Cloud Promotions along with RevRec Fair Value team to determine appropriate revenue recognition profile.
- Evaluate any Rev Rec implications and present your conclusion to RevRec management.
- Communicate any necessary guidance/implications to requestors
- Work with the various line of business to remove products from Restricted Products List. (. establish ‘Standalone Value’ for those Cloud services that do not yet meet that criteria; establish ‘segmentation’ for non-segmentable SW).
- Attend regular and ad hoc calls relating to Cloud and new product offerings.
- Work with Finance Systems GPO, and other GPOs on system enhancements related to revenue recognition for Cloud and new products.
- Partner with RevRec Technical Accounting and Operations leads in the implementation of the Revenue Management Tool (multi-element arrangement revenue allocation tool related to Cloud transactions).
- Provide training to the Global RevRec team with regards to Cloud and New Products related developments
- Provide training externally to the various line of business and other related teams with regards to revenue recognition policy and process for Cloud and New Products.
- Liaise with Global REVREC team as needed on complex arrangements.
- Be available to answer line of business questions during training.
- Work with SOX and E&Y on Cloud and new products reviews and formalization of key controls (. provisioning, etc.)
- Work with E&Y on Cloud and new products related operational issues/concerns relating to Rev Rec
- Provide E&Y quarterly audit schedules and other requests.
- ACA, CPA, MBA or equivalent, with 5 or more years of ASCand/or ASCexperience.
- Exposure to ASC 606 framework and concepts preferred, but not required.
- Previous experience of managing revenue risk related to Cloud transactions and Cloud system controls preferred, but not required.
- Preferred skills of candidates include: strong conceptual and practical experience in understanding and communicating technical accounting issues specific to the technology industry; proficiency with researching accounting literature including FASB, SEC, AICPA and IFRS rules and regulations.
- Strong project management, leadership, relationship development and people management skills; results orientation with an ability to manage the overall project; excellent multi-tasker who sees the “bigger picture”; collaborate with different individuals across the organization; able to manage and prioritize several different activities in parallel.