Flowserve Corporation Vice President, Tax in IRVING, Texas
Flowserve is the recognized world leader in supplying pumps, valves, seals, automation, and services to the power, oil, gas, chemical, and other industries. With more than 18,000 employees in more than 55 countries, we combine our global reach with a local presence.
The Vice President, Tax serves as a key partner to the CFO and business leaders, helping drive the finance organization’s role as a critical contributor to both the strategic and operational functions of the Company. The VP, tax leads a tax function of approximately 25 - 30 professionals in areas of tax reporting, tax planning/forecasting, and tax compliance. This leader will work with the finance leadership team as well as other executives on tax and strategic support including, but not limited to, quarterly and annual tax reporting, M&A projects, tax risk management and controversy, transfer pricing, domestic and international tax compliance for both direct and indirect taxes.
This position is based at the Corporate Headquarters in Irving, Texas.
This position will oversee all tax matters of the company and collaborate with the management team to provide value-added insight into the business. Position will ensure timely compliance with U.S. SEC tax reporting requirements, income and other tax return filing requirements, preparation of transfer pricing documentation, forecasting of effective tax rate and impacts of business changes on that rate, analysis of tax impacts of key business initiatives, and other tax matters. The position will be critical in positioning the business to meet its internal and external commitments including identifying opportunities and developing contingencies.
As a key member of the leadership team, this position is expected to provide mentorship and model company values for all Flowserve coworkers.
• Play a leadership role in:
• Building and implementing processes and procedures around Flowserve 2.0; Flowserve 2.0 is the company’s transformation agenda to become more enterprise focus leveraging scale and best practices. Flowserve is expected to significantly improve its financial performance over the next 3 years.
• Implementing Flowserve’s new company wide transfer pricing policy.
• Oversee initiative to reduce redundant legal entities throughout the world
• Support transition of routing accounting and tax functions to a captive shared service center.
• Automate VAT and other indirect tax reporting functions in conjunction with shared service and enterprise wide ERP initiatives.
Tax Planning & Decision Support
• Drive an efficient, effective and comprehensive process for developing tax planning initiatives that aligns with the company's strategic objectives.
• Oversee initiative to realign Flowserve’s global holding structure to better align with recent US tax reform provisions and regulations.
• Work with outside advisors in developing strategies to effectively address ongoing changes in international tax rules and procedures.
• Collaborate with CFO and other executive leaders to prepare analysis, commentary and presentation material for the quarterly board meetings.
• Research and consult on various tax matters income payroll taxes, withholding taxes, contract terms, executive compensation taxation implications, etc.
Tax Reporting and Compliance
• Responsible for quarterly and annual preparation of ASC 740 income tax reporting and related disclosures and documentation including effective tax rate, deferred tax balances, uncertain tax positions, valuation allowances, SOX compliance, etc.
• Responsible for the coordination and preparation of all federal, state and local income tax returns globally.
• Responsible for the coordination and preparation of all VAT, GST, sales/use tax, and other indirect tax filings globally.
• Responsible for preparation of global transfer pricing master file, local country transfer pricing reports, country-by-country report, and required reports and disclosures.
• Lead MAP and APA processes, as necessary.
• Coordinate and lead tax audit defense in various US and non-US jurisdictions.
Organizational Development and Business Integration
• Increase the talent in the organization.
• Champion a culture of creativity, collaboration, diversity and innovation
• Work with team of finance professionals across the globe
• Assist when needed with integration support
• Provide tax support for business development, M&A, divestiture and restructuring activities.
• Develop and track annual tax department budget
• Improve the talent in the tax organization
• Improve the quality of tax forecasting and analysis including implementing new tools and methods
• Support key company initiatives including Flowserve 2.0 and new ERP
• Support key business development opportunities
The successful candidate will be an accomplished tax executive with unquestionable integrity, a positive reputation and demonstrated success leading a complex multinational tax department and be a strong collaborator with people, bringing an exhibited track record of building relationships and establishing credibility across all functions of a global organization. Possess strong domestic and international tax technical knowledge, accounting/finance knowledge, including consolidation of financials, and the ability to adapt to change and be able to communicate complicated issues / concepts in a concise and effective manner.
• 15+ years of experience in tax in a Big 4 public accounting and/or mid-to-large multinational corporation ($2 billion in revenue and larger) serving in roles of tax planning, compliance and/or tax reporting.
• 10+ years of experience managing large teams and projects.
• 5+ years of experience within a publicly-listed company with significant time spent leading or partnering within a corporate tax department.
• 5+ years of experience within an international, geographically-dispersed organization.
Critical Leadership Capabilities:
In an organization driven by performance and outcomes, the VP, tax will:
Consistently drive continuous process improvement and drive and motivate all areas of tax competency to meet or exceed current and future company goals and objectives.
Effectively lead and motivate a high-performing team of professionals through collaboration and enthusiasm for the “end goal”.
Make decisions and recommendations that include a focus on tax savings, cost, risk and short-term vs. long-term impacts to achieve an optimal outcome.
Collaborating and Influencing
In a global organization requiring strong relationships and partnering across all functions, the VP, Tax will:
Spend time identifying all stakeholders necessary and meet or connect with all of them, neglecting no one to shape a collective consensus.
Identify opportunities to build relationships that will help others achieve their objectives and reach out to those people or new people.
OTHER PERSONAL CHARACTERISTICS
Action Oriented: Ability to be self-directed and initiate necessary actions in all stages of the tax planning, compliance, reporting, and controversy process, directly contributing to the Company’s performance.
Business Acumen: Ability to maintain current knowledge about policies, practices, industry trends and information affecting the organization customers, and suppliers.
Communication/Relationship/Liaison: Effective verbal and written communication skills and executive presence.
Directing Others: Ability to give clear instructions in a respectable and professional manner, fostering an atmosphere of teamwork, with the senior management team, peers and subordinates, requesting information from inter-departmental personnel and supporting the business.
Discretion/Latitude/Decision Quality: Ability to exercise significant discretion and decision making with regards to the planning and prioritizing of work flow, processes and best resources to meet the financial reporting schedules.
Leadership Skills: Ability to effectively lead, monitor and review the daily operations of the tax function and supervise additional personnel by assisting and offering direction and answers as required, ensuring that the performance and capabilities of the department are consistently improved, while Company policies, procedures and practices are followed.
• An undergraduate degree or international equivalent in accounting or tax
• A Masters in Accounting/Tax or other advanced degree will be given preferred consideration
Understanding of international tax rules and regulations a must.
• Tax accounting and Sarbanes Oxley (SOX) experience a plus.
• Consideration will also be given to broader industrial/manufacturing sector experience.
• Strong communication and presentation skills
• Strong quantitative and analytical skills combined with solid business and financial acumen.
• Strong relationship management and client service orientation
• Ability to interact and partner with all levels of management and stakeholders, specifically Senior Management
• Ability to provide a consultative approach and help to drive business and financial decisions
• Ability to identify issues, generate and evaluate alternatives and implement solutions.
• Excellent written and verbal communication skills
• Ability to translate complex tax information to various business audiences to drive decision making
• Flexibility and ability to anticipate change and respond to management needs and priorities
• Demonstrated track record of process improvements and implementation of best practices
• Knowledge of financial processes and financial systems, including ERP and Reporting tools a plus
• Experience at a large, complex, global manufacturing organization is a plus
• Business / Functional Transformation experience is a plus
Job Posting/Business Card Title:
Vice President, Tax
Percentage of Approximate Travel Required:
Job Posting Category:
Finance & Accounting
Primary Posting Location:
IRVING, Texas US
United States of America
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