The Royalty Finance team member is responsible for various financial aspects related to royalty management and revenue recognition. Their key tasks include receiving, processing, and verifying raw files from various sources, ensuring accuracy in financial data, invoicing clients, handling payment processing, contract management, and collaborating with other teams for data integrity. Additionally, the team manages communication with DSPs, handles foreign currency transactions, and participates in monthly netting processes. The details of the job includes:
Finance Reports – Raw File Management:
- Receive and process raw files from various DSPs and delivery channels, including email, FTP, and backend portals.
- Review raw files for accuracy, identifying incorrect templates, missing information, and discrepancies between summary and detailed data.
- Save all raw files in designated S3 buckets for record-keeping.
Finance Reports – Raw/Summary Files:
- Receive raw files via email, SFTP, or manual retrieval from portals in various formats (excel/pdf/txt).
- Create summaries based on reports for billing purposes.
- Send invoices via email for most stores, exempting certain stores (e.g., Spotify, Amazon, iTunes).
- Manage ‘additional’ reports/amounts for previous periods that require billing.
- Save all raw files to respective S3 buckets.
Store Invoicing and payments:
- Create invoices and send them to clients, following different schedules per contract (monthly, quarterly, special agreements).
- Manage payments, including follow-up on outstanding payments.
- Handle payment-related clarifications, such as Withholding Tax (WHT), bank fees, and clawbacks, involving communication with DSPs.
- Obtain FX rates from treasury for payments in non-US currencies.
- Participate in monthly netting processes involving split royalties between TC (TuneCore) and BI (Believe International).
- Upload various files, including FX rate and success files, into FileZilla.
- Monitor FileZilla for any issues and communicate with the relevant teams for resolutions.
- Review ingested reports for accuracy, identify errors, and reconcile cross AR invoices and payments.
- Export data to Retools and apply FX rates.
- Perform a second review, obtain approvals, and facilitate data posting while communicating with the tech team.
- Export reports for record-keeping.
DSP – Contract Management:
- Establish communication for new store contracts, including payment details, bank information, and tax certifications.
- Manage contract-related details, such as WHT and VAT.
- Maintain a master file for all DSP contracts.
- Handle communication related to contract terminations and new deals.
Bank payments – account reconsiliation:
- Cross-check receipts with invoices to ensure accuracy, highlighting underpayments due to bank errors, WHT, or other discrepancies.
- Update relevant documentation and systems, including G-doc and SIP.
SR/SIP Postings of reports:
- During data ingestion, communicate with DSPs to correct raw files as needed.
- Perform 2-3 postings per week, monitoring and collaborating with tech/data teams throughout the day.
- Review and gain approval from the finance team.
Symphony (Finance Tool for royality ingestion):
- Review Symphony postings against invoices and receipts created in Oracle.
- Resolve discrepancies and variances, using data reports for comparison.
- Address complex cases that require additional attention, such as Amazon.
- Maintain timely responses to BI Symphony Team due to work hours limitations.
- Communicate changes in split percentages ahead of time for accounting adjustments.
- Bachelor’s degree in finance, Accounting, or a related field.
- Strong analytical and communication skills.
- Proficiency in financial software and tools, SQL, Excel, Amazon 3Bucket, ability to work with big data.
- Ability to work collaboratively in a team and handle multiple tasks simultaneously.
- Knowledge of royalty and contract management is a plus.
- Digital friendly Knowledge and good understanding about music in general
- Minimum of 5+ years of experience in finance operations domain
- Extremely competent Communication skills
- Should be Organized, reliable, independent and have the aptitude of problem solving.
- Perfect Team player and able to show the ability to manage a team.
- Ability to set priorities for the daily task to entire team
#Flexibility – Just punch in leaves, not intime and out time
#Office perks – a game of foosball, table tennis to bat the afternoon lackluster, free event pass for exclusive and limited shows, music subscription, etc
#Wellbeing – Caring by EUTELMED, professionals are at your disposal for advice and support, in your own language and culture
#Transperancy – engaged in secondary activity just disclose it to us
#Compensation – Tailor made flexi pay plan for tax saving
#Sustainability – You can be a part of CSR program, represent yourself as a #shaper and contribute to a better future.
Believe strongly promotes equal treatment regardless of race, ethnicity, nationality, gender, sexual orientation, socio-economic status, age, marital or civil partner status, pregnancy or maternity, physical abilities, religious beliefs, political beliefs, or other ideologies.