Director of Revenue

Overview

Penguin Solutions is seeking a Director of Revenue to serve as the subject matter expert and be responsible for the review of significant customer contracts and the determination of the proper revenue recognition model in accordance with ASC 606. Through this process, you will interact and collaborate with varying functional areas of the company, including business unit leaders, legal, and corporate accounting. The role will entail variety, complexity and the opportunity to diversify your own personal development as the role requires – not just a detailed interpretation of contracts, but also obtaining a detailed understanding of our end-to-end process of how products and services are provided to our customers. This position reports directly to the VP of Finance and Accounting. We are primarily focusing on candidates to work on a hybrid basis at our Milpitas office.

Responsibilities

• Serve as a key leader of the accounting close team by performing, monitoring and reporting monthly and quarterly revenue recognition.
• Review new and existing customer contracts and transactions to identify performance obligations and determine appropriate revenue recognition based on ASC 606.
• Prepare and review SSP analyses.
• Review related cost of sales calculations for product revenue, and third-party support revenue contracts.
• Conduct technical accounting research and prepare accounting conclusions documentation.
• Lead and work as a subject matter expert with Business Unit Leaders, Sales, Legal, and FP&A to determine support revenue impact on standard and non-standard contracts and forecasting.
• Review and streamline revenue-related journal entries and supporting analyses, as well as deferred revenue and related account reconciliations.
• Validate completeness and accuracy of source data and related revenue cutoff, as well as other revenue accounting deliverables, by performing analytical review.
• Review current accounting processes and related data to implement process improvements and enhanced automation.
• Perform and or review key SOX controls and maintain appropriate documentation; lead revenue-related SOX initiatives, including process documentation and supporting internal audit in performing controls testing, as necessary.
• Maintain and update the Company’s revenue recognition policies.
• Provide audit support for revenue-related areas.
• Other finance related ad-hoc support of finance department and Company initiatives.

Qualifications

• Bachelor’s degree in accounting or related discipline; graduate degree encouraged.
• Minimum 10 years of revenue accounting experience.
• Significant experience with revenue recognition and applying ASC 606 standards.
• Significant experience within the computing and/or technology industry with a public company or large privately held company that utilized ASC 606 revenue recognition standards.
• Ability to research, apply and document applicable accounting guidance.
• Working knowledge of internal controls and processes within revenue recognition.
• CPA license strongly preferred.
• Candidate will possess the following skills: strong analytical and problem-solving skills, self-motivated, detailed, strong communicator, strong time management / organizational skills, a self-starter with ability to adapt to changing priorities.
• Strong knowledge of MS Excel required, with SAP experience highly desirable.
• Ability to work in a global role.
• Ability to manage tight deadlines in a fast-paced environment.
• Willingness to perform other duties as assigned.

Location

Hybrid – Milpitas, CA

Travel

None required

Compensation & Benefits

The base pay range that the Company reasonably expects to pay for this position in California is $175,000 - $200,000; the pay ultimately offered may vary based on business considerations, including job-related knowledge, skills, experience, and education. The position is bonus-eligible, and there are medical, dental, and vision benefits available. There is a 401k saving plan and other benefits, such as Paid Time Off, Life Insurance, and an Employee Assistance Plan.   

Diversity and Inclusion Statement

We are committed to creating a diverse environment that embraces differences and fosters inclusion.

Equal Opportunity Statement                                                              

We are an Affirmative Action/Equal Opportunity Employer and strongly committed to all policies which will afford equal opportunity employment to all qualified persons without regard to age, national origin, race, ethnicity, creed, gender, disability, veteran status, or any other characteristic protected by law.