Calculate the Monthly Estimate of all Interactive Royalty obligations to Third Party data suppliers. This includes skills in the following areas: a thorough understanding of general accounting; solid Excel spreadsheet skills; contract interpretation skills and good analytical skills.
Perform the royalty payment calculations on a monthly basis for all royalty agreements and ensure that all payments are comprehensive and are made to vendors on a timely basis within the terms of the individual contracts.
Enter and ensure that all actual royalty information is posted correctly on a monthly basis to the Revenue Reporting system (ADR System).
Transition into Production any new Royalty agreements that are entered into by Interactive Data; which includes preparing a summary of the contract detailing the specific agreement terms, working with our FIS department to produce programming specs to automate the royalty calculation, communicating with our Billing dept. to identify the Billing Ban’s required to track the royalty and develop departmental procedures to ensure the new royalty is incorporated into the normal production process. This also includes updating existing royalty calculations for new IDC products.
Responsible for the preparation and input of the Monthly Royalty journal entry and other miscellaneous royalty entries to the Oracle General Ledger.
Reconcile all Royalty liability accounts on the General Ledger on a monthly basis to ensure proper liability is reflected on the balance sheet. Also Reconcile Royalty Expense to Profit and Loss Statement.
Develop and implement ongoing Royalty audit procedures. Plan and audit selected data suppliers on a timely basis/schedule throughout year. This will require working closely with the sales, client services, billing and revenue areas, as well as, other selected production area personnel to ensure that royalty procedures are in compliance with contract terms.
Seek Revenue opportunities for Interactive Data that present themselves in course of Royalty Audits and review of Interactive’s Redistributor client agreements. Follow up with Sales personnel to ensure Revenue opportunity is explored.
Finance Liaison for all Third Party supplier inquiries regarding royalty payments.
Coordinate and work with Third Party suppliers requesting or performing an audit of Interactive’s historical royalty calculations and current royalty calculation procedures.
Work with Planning/Budgeting area in regards to projecting annual royalty expense.
Assist in Revenue Accounting area where needed.
Other duties as requested by the Accounting Manager.
INTERACTIVE DATA IS AN EQUAL OPPORTUNITY EMPLOYER
Qualifications:
Experience Requirements
Bachelors degree in Accounting or Finance
2-4 years General Accounting/Royalty accounting experience
