Salary Survey Finance 2009 2010

8/2/2019 Salary Survey Finance 2009 2010

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FINANCE & ACCOUNTING

Salary Survey 2009/2010Switzerland


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Michael Page Switzerland is pleased to present the

2009/2010 Salary Survey or Finance & Accounting

positions.


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QUOTIDIEN DE L'AGENCE CONOMIQUE ET FINANCIRE GENVE


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All inormation contained in this survey is the property o Michael Page International (Suisse) SA. Any reproduction o this document, in whole or in part,

is orbidden under the October 9, 1992 Swiss Federal Copyright Law: Loi drale sur le droit dauteur (LDA).

1

INTRODUCTION 2

OVERVIEW OF THE SWISS MARKET 4

METHODOLOGY 5

1 SENIOR MANAGEMENT & EXECUTIVE POSITIONS 7

1.1 Chie Financial Ofcer (CFO)/Finance Director 8

1.2 Group Controller 10

2 CONTROLLING POSITIONS 13

2.1 Business/Financial Analyst 14

2.2 Manuacturing Controller 16

2.3 Financial Planning & Analysis (FP&A) 18 2.3.1 Budget Analyst 18

2.3.2 Forecast Planner 20

2.3.3 Reporting Analyst 22

2.4 Credit Controller/Manager 24

2.5 Audit 26 2.5.1 Head of Internal Audit & Compliance 26

2.5.2 Internal Auditor 28

2.5.3 External Auditor 30

3 ACCOUNTING POSITIONS 33

3.1 Chie Accountant/Accounting Manager 34

3.2 General Accountant 36

3.3 Fiduciary Accountat 38

3.4 VAT Accountant 40

3.5 Payable/Receivable Accountant 42

4 SPECIALIST POSITIONS 45

4.1 Mergers & Acquisitions (M&A)/Business Development 46

4.2 Consolidation 48

4.3 Treasury 504.3.1 Treasurer 50

4.3.2 Treasury Accountant 52

4.4 Tax Specialist (Direct/Indirect & Transer Pricing) 54

4.5 Sarbanes-Oxley (SOX) Specialist 56

TABLE OF CONTENTS


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3

Inormaion echnology

Healhcare & Lie Sciences

Engineering

ax & Legal

Inerim Managemen

Human Ressources

Recruiing rom oices in Basel, Geneva, Lausanne and Zurich or Swizerland, Page Personnel is par o he MichaelPage Inernaional Group. he brand operaes in 11 counries worldwide o recr ui junior and experienced c andidaes oremporary and permanen posiions. Page Personnel is able o provide a specialis service o all companies wheher i isor a lised corporaion or a small-o-medium enerprise.

Our Finance and Accounting Expertise

Michael Page Finance - Michael Page Finance & Accouning in some counries - has been in exisence since he Group was rsesablished in 1976 in he UK and comprised is rs secor o aciviy. For his reason, Michael Page Finance is presen in all 28counries. Te long-erm survival o our mehods, he diversiy o our locaions and he ever changing needs o our cliens haveenabled us o develop all-round skills and o adap our accouning and nance recruimen services ac cordingly.

Wheher i enails he urnkey composiion o an accouning and nance eam (e.g. in he even o a relocaion), he creaion oshared services, or he managemen o pan-European or inernaional assignmens o recrui accouning or nance execuives inlarge numbers, we seek ou he recruimen soluion ailored o each specic need and o each specic environmen. Specialisedin he recruimen o Middle, Senior & Execuive Managemen level proessionals or accouning and nance uncions in allsecors, Michael Page Finance is recognised as a leader in recruimen everywhere we operae.

Michael Page International is a specialised recruitment company and currently represents:

Over 32 years o experience in specialised recruimen in a wide variey o proessional elds, business secors and geographicregions

A long-sanding relaionship wih he worlds leading companies as well as parnerships in inernaional recruimen projecs

A group ha has grown organically and c urrenly employs approximaely 5 people in he world

A worldwide nework o 163 oces in 28 dieren counries suppored by he laes recruimen soware

rainee programs and evaluaion mehods which guaranee op-ier qualiy or our cliens

Uilising an eecive mehod is an essenial acor in he success o any recruimen mission. By using mehods ha have beenhoroughly esed in he ield, Michael Page Inernaional can provide is cliens wih soluions ailored o each individualsiuaion. he key o is success lies in he abiliy o measure and manage dieren asks and adap each working ool o hespeciiciy o each assignmen.

Our eeciveness can be gauged by our cliens loyaly and by he ever-growing number o candidaes who enrus us wihheir careers. In eec, Michael Page Inernaional managed o presen a gross proi growh o 16% or 28. he candidaeshorage in Swizerland shows he necessiy o having an inernaional nework, as Michael Page Inernaional does. his hasallowed Michael Page Swizerland o arac a signiican number o qualiied candidaes rom abroad.

Michael Page Inernaional employs consulans in he ollowing counries: Argenina, Ausralia, Ausria, Belgium, Brazil,Canada, China, Dubai, France, Germany, Ireland, Ialy, Japan, Luxembourg, Mexico, he Neherlands, New Zealand, Poland,Porugal, Russia, Singapore, Souh Arica, Spain, Sweden, Swizerland, urkey, he UK and he US.

As all Michael Page consultants have previous proessional experience within the sectors or

which they recruit, Michael Page guarantees:

A ailor-made service

Comprehensive knowledge o he specic secor and marke o our cliens and candidaes

In-deph undersanding o each posiions demands on boh he echnical and human levels

Genuine comprehension o our parners culures and specic requiremens

Michael Page Switzerland

Michael Page Swizerland was ounded in January 21 and currenly has oces in boh Geneva and Zurich. Michael Page recruisproessionals hroughou Swizerland, carrying ou assignmens in he French, German, and Ialian-speaking regions o he counry.Trough he ollowing 1 divisions, we are able o provide specialised recruimen services or a broad specrum o disciplines:

Finance & Accouning

Banking & Financial Services

Sales & Markeing

Procuremen & Supply Chain

INTRODUCTION

SouthAfrica

Australia

Singapore

China

NewZealand

Japan

Brazil

Mexico

Canada

USA

Argentina

Russia

UAEDubai

Turkey

Michael Page Worldwide

Sweden

Portugal

Spain

France

Belgium

Luxembourg

Poland

Austria

Italy

UK

Ireland

The Netherlands

Germany

Switzerland

Michael Page Arica operaes ou o Paris or posiions in every Ari can counry, excep Souh Arica.Michael Page Easern Europe operaes ou o Munich or posiions in Easern Europe, excep Poland and Russia.Michael Page Lain America operaes ou o Sao Paulo or posiions in Colombia, Peru, Cosa Rica and Venezuela.


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5

Te ollowing survey deals wih one o he main recruimen specialiies o Michael Page Inernaional in Swizerland. Te inormaionpresened in his documen is based on our ongoing surveys o candidaes and cliens, which include mulinaional corporaions as wellas small- and medium-sized companies hroughou he counry. In he European Union and Swizerland, we dene a small-o- mediumenerprise (SME) as having less han 25 employees. Furher qualiaive inormaion has been supplied by consulans in our ocesin Swizerland.

Our research was carr ied ou by means o a posal quesionnaire and/or elephone inerview. We asked CFOs and HR direcors orheir eedback on he salary level or each posiion. Respondens were asked o give he minimum, maximum and average salariesor each qualicaion level. Te inormaion obained was supplemened by oher marke inormaion, including salary daa romour own inernal daabase. In addiion, a sur vey o a leas 2 candidaes was conduced or each posiion.

One cavea concerning his salary guide: muliple acors dicae he acual salary paid. Tese include elemens such as companysize, business secor, he naure o he posiion, he number o years in he company, meri paymens, sa responsibiliy andgeographical locaion. Addiionally, due o saisical limiaions o his survey, cerain salaries may all ouside he designaedrange.

In Swizerland, mos salaries are comprised o boh xed and variable elemens. In his survey, all salaries exclude he variableelemen commonly reerred o as a bonus. However, we have observed a usual bonus, on op o he base salary, ranging romapproximaely 1% o 5%, depending on he company. Addiionally, depending on he level o he posiion, and paricularly inhe case o managerial posiions, oher bonuses can be considered and are negoiaed or he conrac signaure. Tese includehealh insurance coss, accommodaion ees, company car, mobile phone, sock opions and relocaion expenses. Tese bonusesaken ogeher can consiue a signican package.

METHODOLOGY

1 www.seco.admin.ch

Despie is small size and he lack o raw maerials, Swizerland is an imporan indusrial naion and supplier o nancial services.Tere is a preponderance o medium-sized and small companies.

In addiion, here are also many large inernaional organisaions. Te service secor is highly developed. Swizerland boass apowerul nancial and indusrial secor; Swiss banks and insurance companies oer heir services all over he world.

he inancial secor represens abou 15% o he Gross Domesic Produc (GDP) and abou 5.5% o oal employmen inSwizerland. Swizerland is so irmly inegraed in inernaional rade ha oday every second Swiss Frank is earned abroad.

Over he pas ew years, Swizerland showed a consisenly low unemploymen rae averaging around 2.8% compared o 7.9%in France and 9% in Germany. However, he Swiss Sae Secrearia or Economic Aairs (seco) orecass a slow-down o-.8% in economic aciviy or 29 and a moderae recovery o +1% or 21. As a consequence o he ensuing recession heunemploymen rae is expeced o increase o up o 3.3%1. Despie he diicul economic environmen a he momen, hemedium o long erm prospecs are avourable, and he marke or inance proessionals remains sable in Swizerland.

Regional dierences

Regional dierences are considerable in Swizerland. In ac, he German-speaking region o he counry can be analysed ina dieren manner rom he French or Ialian-speaking regions.

Te unemploymen rae is he lowes in he German-speaking region o Swizerland, which includes he canon o Zurich, hepowerhouse o he Swiss economy. In he French- and Ialian-speaking canons he average unemploymen rae is almos wice ashigh as in he German-speaking region.

Salaries also dier according o region. For example, salaries in Zurich are known o be beween 5 and 1 % higher han inGeneva. In addiion, i is imporan o noe ha salaries can also dier wihin he regions hemselves. Naurally, salaries endo be lower in rural areas as opposed o he urbanised areas o Geneva and Zurich. In he case o inernaional companies heseregional dierences are less pronounced: dierences in salary end o be secor driven.

OVERVIEW OF THE SWISS MARKET


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1. SENIOR MANAGEMENT &EXECUTIVE POSITIONS


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9

1.1 Chie Financial Ofcer (CFO)/Finance Director

Te CFO or Finance Direcor plays a key sraegic and operaional role as par o he execuive managemen eam. Tis role has evolvedconsiderably over recen years. Originally he CFO/Finance Direcor was purely a nancial advisor o General Managemen.

Presenly, i is a more poliical posiion wih involvemen in power games opposing board managemen and shareholders. Tis new role ismore exposed and sraegic.Tus, he CFO/Finance Direcor is heavily involved in making sraegic decisions or he company, including budgeing, orecasing, mergers& acquisiions, and sraegic growh planning. He/She is responsible or nancial inormaion a business uni and group levels.

As or he Finance Direcor posiion, he/she can be responsible or he nance deparmen o an SME (ewer han 25 employees)or Direcor or a subsidiary/eniy and as such ake on he role o a CFO or smaller companies.

He/She is globally responsible or he managemen o a ll nance and accouning uncions, rom he monhly closing o he a nnualbudge.

The main tasks are:

Shape, develop and mainain a nancial sraegy

Direc he areas o accouning, consolidaion, accouns payable/receivable, cash managemen, planning & reporing, ax , raud& collecion issues

Work wih he conrollers o improve nancial conrols

Provide nancial evaluaion o poenial mergers/acquisiions; and inerace requenly and eecively wih oher deparmenheads o coordinae, and prioriise planning

Mainain srong relaionships wih banks, audiors, and a x auhoriies

Lead, develop and manage he sa, including: hiring, coaching, and leading a srong nance divis ion

Reports to:

Managing DirecorPresidenChie Execuive Ocer

Te CFO/Finance Direcor ypically repors o he Chie Execuive Ocer, and is requenly a member o he board o direcors.

Profle:

Tis posiion is open o candidaes wih a minimum o 8 years o experience in a senior nancial posiion wih several years oexperience in a managemen role. Te person has srong leadership skills and proven success in building a srong eam. He/Shehas also proven success acing in a senior advisory role o he managing direcor and he managemen eam.

Required or his role are excellen communicaion/infuencing skills and he abiliy o work well wih colleagues/ohers deparmens.

1. SENIOR MANAGEMENT & EXECUTIVE POSITIONS

Prospective career path:

In recen years, he role has expanded o encompass communicaing inancial perormance and orecass o he analyscommuniy. In Swizerland, large mulinaional companies require a charered accouning qualicaion or a CFO posiion.Te CFO may also have o oversee he implemenaion o, and ongoing compliance wih, he Sarbanes Oxley Ac or U.S. lisedcompanies.Te CFO/Finance Direcor posiion is he highes nancial posiion. Te precise role can vary depending on he size o hecompany. Te greaer he candidaes experience, he higher he salary he/she can demand. Te CFO role can lead o a CEO orCounry Manager posiion.

Salary indication (in CHF):

As aore menioned, he salaries are compued wihou bonus. For CFO posiions, hese bonuses can go rom 1% o 1%.*Small-o-medium enerprise, less han 25 employees.

7-15 years

160,000

280,000

199,000

200,000

315,000

230,000

Experience

minimum

minimum

maximum

maximum

> 15 years

SalarySalary

200,000

325,000

242,000

450,000

average

average

300,000

345,000

GROUP / MULTINATIONAL

SME*


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11

1.2 Group Controller

Te posiion o Group Conroller can imply wo possible roles: Head o Inernaional/Regional Conrolling and Head o Conrollingin is local dimension.

An inernaional Financial Conroller is responsible or he managemen o he enire nancial conrol uncion across he regionor a he worldwide level.

The main tasks are:

Presen nancial analysis o he general pro and loss a he inernaional/regional level in order o monior gross pro andkey nancial perormance gures

Provide high-qualiy, ocused nancial inormaion o business leaders in order o suppor he proable developmen o heregion. Te aim is o allow proacive/reliable business decision-making

Manage an eecive budgeing and orecasing process

Monior ax and reasury managemen

Moivae, manage and lead he naional conrolling manager and he accouning/adminisraion managers

Manage ongoing developmen o nancial sysems, including he implemenaion o nancial soware (SAP, Hyperion, ec.)

Develop and implemen conrolling ools

Negoiae wih inernaional business parners and banks

Reports to:

Finance DirecorManaging Direcor

Profle:

For his posiion, he successul candidae is usually a qualied nance proessional wih a minimum o 8 o 1 years o cumulaedexperience in conrolling, reporing and accouning.

He/She has a solid rack record o success in a mulinaional company and experience in working wihin his/her geographical regionor a similar region a he inernaional level.

An inernaional conroller has exensive experience in dealing wih culural diversiy. Addiionally, he/she has o demonsraesrong managemen skills, w ih enrepreneurial hinking, and be resul-oriened. Te inernaional role requenly involves exensiveravel (up o 6%).


ypically a Head o Conrolling posiion can lead o a CFO/Finance Direcor posiion. Te role o Group Conroller is expandingo become even more business ocused. He/She will be required o be much more involved in pricing , orecasing and decisionmaking wih senior managemen. Te Head o Conrolling posiion can lead o a CFO/Financial Direcor role.


1. SENIOR MANAGEMENT & EXECUTIVE POSITIONS

5-10 years

115,000

166,000

139,000

153,000

208,000

181,000

Experience

minimum

minimum

maximum

maximum

> 10 years

SalarySalary

139,000

182,000

161,000

>250,000

average

average

168,000

199,000


SME


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2. CONTROLLINGPOSITIONS


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2.1 Business/Financial Analyst

Te Business Analys ocuses on marke analysis whereas he Financial Analys ocuses on nancial reporing.

The main tasks are:

Help develop marke sraegy and provide analyical suppor o enable ac-based decision-making

Develop and evaluae core produc developmen opions

Develop prooype repors or new business maters and suppor he eecive implemenaion o business iniiaives

Assis and suppor Counry Finance Managers in he areas o nancial planning and business analysi s

Paricipae in ad hoc projecs

Appraise and commen on he ull-year orecas

Analyse monhly perormance o he business or senior managemen

Appraise capial and real esae

Monior socio-poliical and economic siuaions as well as analyse compeior aciviy

Liaise wih counry conrollers and cross-uncional groups

Reports to:

Finance ManagerFinancial ConrollerBusiness Uni Manager

Profle:

Te ideal candidae should have 1 o 2 years o experience. He/She is a Universiy graduae wih a srong academic record ineconomics, nance, engineering or sciences. Graduaes o HEC or HEG are especially avoured. Business/Financial Analyssmus demonsrae srong analyical skills relaed o heir chosen secor.

Tey mus also have a good commercial sense and he abiliy o communicae clearly wih senior managemen and non-nancepersonnel. Sel-moivaion, pro-aciveness and excellen organisaional skills are a prerequisie.


Aer 5 or 6 years o experience, here is he opporuniy o become a Senior Financial Analys. Tis is a key posiion wihin a companyand provides good raining in coordinaing operaions.

An open-minded candidae wih excellen academic qualicaions and srong communicaion skills could aspire o become anInernaional Conroller.

2. CONTROLLING POSITIONS15


< 5 years

90,000

110,000

95,000

100,000

130,000

110,000

Experience

minimum

minimum

maximum

maximum

5-10 years > 10 years

SalarySalary Salary

108,000 135,000

142,000 160,000

126,000 135,000

170,000

average

average

115,000

140,000

145,000

>180,000

156,000


SME


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2.2 Manuacturing Controller

Te Manuacuring Conroller has a nancial uncion wihin producion unis/acories. He/She is responsible or one or severalmanuacuring sies and mus mainain an eecive inernal conrol srucure ensuring compliance wih he companys accouningpolicies. Te Manuacuring Conroller produces indicaors or he Financial Direcor providing a view o he economic siuaiono he uni/acory.

The main tasks are:

General accouning, sandard nancial saemens and budges, cos/price analyses, a nd aciviy-based cosing or a sie

Financial sraegies o improve long-erm proabiliy; monhly and nancial plans and orecass, manuacuring projecion andasse managemen plans

Produc pricing, alernaive scenarios developmen, purchasing, reporing and charing o nancial daa, cash managemen andreasury aciviies

Compliance wih company policy or he exisence, accurac y, and compleeness o invenory balances via physical vericaion

Purchasing and manuacuring operaions suppor in reviewing and approving conrac language or consignmen arrangemens oensure proper accouning reamen

Purchasing and manuacuring operaions suppor in reviewing and approving conrac language or volume and pricecommimens and ensuring proper accouning

Reports to:

Financial and Adminisraive ManagerPlan/Business Uni ManagerHead o Conrolling

Profle:

Junior proles in his posiion can be in demand wihin large corporaions and companies wih a developed conrolling srucure.

In Swizerland, junior proles may access his proession in he ollowing ways:

Wih a Breve Fdral en Finance & Compabili/Eidg. Fachausweis im Finanz- und Rechnungswesen, or a Breve Fdral dAgen

Fiduciaire/Eidg. dipl. reuhnder or equivalen and a leas 5 years o experience

Wih a Business or Finance degree (HEG, HEC or equivalen) and 2 years o experience in an accouning posiion

In some cases, an Engineering academic background coupled wih a Business degree is a denie plus

Mos companies require experienced generalis candidaes (audi, accouning) who wish o work in a more operaional andauonomous posiion. A rs experience in an Audi Accouning company is an asse.

For experienced candidaes, specic accouning degrees like CPA or CIMA are oen a plus bu are no a requiremen. Te Swiss degreeDiplme Fdral dExper en Finance e Conrolling/Eidg. dipl. Expere in Rechnungslegung und Conrolling is also recognised.he manuacuring conroller mus have experience in cos accouning, general manuacuring or disribuion operaionaccouning. Oher prerequisies include excellen leadership, communicaion and inerpersonal skills.

17


Saisacory career advancemen possibiliies require ha candidaes be a leas bilingual. Wih a minimum o 8 years experience inmanuacuring conrolling, a candidae can become a nancial and adminisraion manager, play a role in he sraegic decision-makingprocess, provide liaison beween he holding company and inernaional subsidiaries, or manage a nancial eam.

In some cases, a Manuacuring Conroller may become a ree-lance consulan and oer audi/nancial/risk managemen.

Tis posiion is an excellen means or younger candidaes o acquire experience in he eld and prepare heir uure proessionaladvancemen. However, he lack o a specic degree relaed o his uncion, he operaional and echnical aspecs, along wihexensive ravel, oen make his posiion less atracive. Tere is oen a shorage o candidaes or his posiion.

As his role has a srong analyical dimension wih a global overview o he business, companies require candidae proles wihexcellen echnical knowledge and an abiliy o see he overall picure as well as good inerpersonal skills.


< 5 years

90,000

110,000

>100,000

100,000

120,000

110,000

Experience

minimum

minimum

maximum

maximum


SalarySalary Salary

100,000 115,000

140,000 150,000

120,000 130,000

150,000

average

average

120,000

135,000

125,000

175,000

150,000

SME


2. CONTROLLING POSITIONS


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5-10 years

100,000

135,000

125,000

115,000

160,000

145,000

Experience

minimum

minimum

maximum

maximum

> 10 years (ManagerFP&A)

SalarySalary

130,000

170,000

150,000

300,000

average

average

150,000

190,000


SME

2.3 Financial Planning & Analysis (FP&A)

2.3.1 Budget Analyst

Te Budge Analys evaluaes how o ecienly disribue limied nancia l resources. He/She plays a primary role in developmenanalysis and budge implemenaion whose purpose is o allocae c urren resources and esimae uure nancial requiremens.

The main tasks are:

Creae, develop and manage all aspecs o he inernal budge, including cos and nancial projecion uncions

Prepare he annual budge and orecasing process. Suppor and produce high qualiy managemen repors

Analyse period resuls agains orecas, provide explanaions o signican variances o VPs/Direcors

Work closely wih budge holders o undersand operaional issues and suppor heir use o sysems or nancial planning and conrol

Underake ad hoc projecs

Perorm measuremen

Prioriise group-wide invesmens

Reports to:

FP&A ManagerHead o ConrollingFinance Direcor

Profle:

Budge Analyss have many responsibiliies, bu heir primary asks are providing advice and echnical assisance in he preparaiono annual budges. He/She has o prepare, consolidae and disribue budge and relaed repors or deparmens and divisionshroughou he organisaion. He/She analyses operaing resuls, develops repors and provides recommendaions o managemen.He/She mus demonsrae srong analyical and communicaion skills in order o infuence decision-making. For junior proles, 2o 4 years o commercial nance experience wih an MBA or Accouning qualicaion in progress is generally required.


Tis posiion is an excellen saring poin or a candidae ineresed in a corporae nance career. Currenly, his posiion is subjeco increasing recruimen demand. Wihin large companies, incumbens may advance o become a Budge and Planning Analysand/or FP&A Manager whose role is o manage he organisaions budge process, including preparaion.Consolidaion and disribuion o budges and relaed repors can also be par o he uncion.

Te Budge Analys is involved in developing adminisraive budgeary policies and procedures as well as in providingrecommendaions or managemen.

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2.3.2 Forecast PlannerTe Forecas Planners primary objecive is o aec proable business sraegy and increase shareholder value by designing andleading eecive nancial planning processes and by providing imely insigh ino risk and opporuniy, wih respec o uureearnings and cash fow. Te work includes orecasing, budgeing, and long-range planning.

The main tasks are:

Drive coninual evaluaion o monhly operaing review package o suppor execuive leadership, operaions managemen andnancial conrollership. Operaing he review package will include monhly close, esimae and marke daa as well as sraegic,operaional and nancial merics

Prepare monhly nancial repors

Direc he monhly orecasing processes o improve synergy and ec iency o producion, reducing cycle ime o increaseorecas relevance. Lead developmen o a monhly orecas scorecard o improve orecas accuracy

Trough eecive business parnerships and FP eam managemen, mainain pulse on business perormance issues andopporuniies across he organisaion o keep corporae nance leadership aware o risk and opporuniy o quarerlyorecas/guidance atainmen a any poin in ime

Drive and lead he annual planning process rom developmen o arges o plan consolidaion

Manage he roll-ou o new European and/or worldwide ools or reporing, orecasing and planning in Europe

Prepare ad hoc execuive documens/repors

Design robus planning, budgeing and orecasing processes and echniques o undersand and evaluae business perormance

Manage he budgeing and orecasing process providing monhly and quarerly repors

Ensure he bes use o an organisaions resources by dening and planning he organisaions sraegic and long-erm goals

Plan and direc business analysis, risk modelling, and loss prevenion programs

Direc compilaion o daa based on saisical sudies and analysis o pas and curren years o prepare budges and o jusiyunds requesed

Formulae, monior and presen budges or conrolling unds o implemen program objecives o public and privae organisaions

Review operaing budges periodically o analyse rends a ecing budge needs

Reports to:

FP&A ManagerHead o ConrollingFinance Direcor

21

*In SME, he Financial Analys is usually in charge o orecasing and planning he budge.

Profle:

Wih excepional analyical and creaive problem solving skills; he Forecas Planner is a soluion-oriened individual wih apassion or daa inegriy and process improvemen. Commercially minded and engaged in he business, he/she is a proacive business parner.

Te Forecas Planner will be an agen o posiive change and drive nance ransormaion hrough coninual improvemens inorecasing and planning processes.


A Forecas Planner can progress ino posiions such as FP&A Manager, Business Conroller, Finance Manager.



Forecast Planner5-10 years

Forecast PlannerManager >10 years

100,000

135,000

125,000

110,000

170,000

125,000

Experience

minimum

minimum

maximum

maximum

SalarySalary

130,000

170,000

150,000

200,000

average

average

135,000

160,000


SME*


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2.3.3 Reporting Analyst

Te ask o reporing is usually ound wihin mulinaional companies. he Reporing Analys is in charge o cenralising allinancial inormaion (rom he subsidiaries, especially when managing he reporing) in order o esablish a relevan reporo he group headquarers.

The main tasks are:

Work closely wih he rms analyss in ideniying and evaluaing accouning and nancial reporing maters and heirimplicaions on issuers balance shees, income saemens, liquidiy and ca sh fows

Discern maters o nancial analysis signicance ha are disclosed in he noes o he nancial saemens and/or SEC lings(e.g. revenue & expense recogniion, o-balance shee risks, derivaives, operaing cash-fow reporing and adequacy odisclosures)

Produce overall monhly reporing as well as ad hoc reporing as requesed

Develop qualiy accouning-relaed commenaries and give raining sessions o analyss (reporing manager ask) onaccouning-relaed opics, work closely o ollow he aciviies o accouning sandard-seters in order o keep analyssinormed o emerging nancial reporing maters and conribue o he developmen o he rms analyical models

Reports to:

Finance Manager/DirecorHead o ConrollingHead o AccouningFP&A Manager

Profle:

A Reporing Analys mus eecively undersand and evaluae economic ransacion and heir relaed inancial consequencesand accouning inerpreaion. Srong accouning/inancial reporing background, abiliy o eecively bridge accouning/inancial reporing issues and he relaed economic, inancial and credi risk aribues are required.

Candidae should have general knowledge o credi analysis or he applicaion o accouning analysis in he conex o credi orequiy analysis. For US companies, knowledge o US GAAP is essenial. Addiionally, general inernaional norms such as IFRS/IAS are oen required. A general knowledge o ax maters, along wih regulaory securiies law is a plus.


Te Reporing Analys/Manager will ensure successul adminisraion o nancial reporing sysems in he regional oces. Tis isan excellen saring poin or a candidae ineresed in a corporae nance role a nd in learning how a company operaes.

I a candidae has a solid academic background along wih echnical knowledge, he/she may ake on urher responsibiliies,including echnical consolidaion. Operaional conrolling is also a career advancemen possibiliy.

23

*Te uncion o Reporing Manager is usually ound wihin mulinaional companies. In SME, he reporing specialis may reporo he nance manager or direcor.N.A.: No Applicable



Reporting3-8 years

Reporting Manager> 8 years

95,000

140,000

115,000

105,000

160,000

130,000

Experience

minimum

minimum

maximum

maximum

SalarySalary

N.A.*

N.A.

N.A.

225,000

average

average

125,000

150,000


SME*


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2.4 Credit Controller/Manager

Te Credi Conroller/Manager is responsible or he credi deparmen and proecs he company agains credi risk.

The main tasks or the Credit Controller are:

Ensure ha he credi porolio under his/her care is consisenly managed in accordance wih he banks global credi sandardsand policy

Acively inves and dives credi porolio unds, based on in-house views o credi qualiy depreciaion or appreciaion

Have srong communicaion skills and he abiliy o work well wih various ransac ion players, such as corporae bankers,produc specialiss/credi risk managers and paricularly cliens and syndicae banks

Review and prepare credi proposals, make recommendaions or credi approval, deermine credi r isk or cusomers, as well asnegoiae wih cusomers on overdue accouns and resolve AR recovery problems

The main tasks or the Credit Manager are:

Focus on he review and analysis o cusomer credi worhiness; develop and implemen collecion sraegies

Focus on he review o debor aging repors

Be responsible or risk managemen and repor generaion on sales perormance or business evaluaion and review

Dene and ollow he DSO (Days Sales Ousanding)

Reporing o he Finance Direcor, he Credi Manager has a hands-on role wih responsibiliy or draing and implemeningcredi policies.

Reports to:

Finance DirecorGroup reasurer

Profle:

Ideally a Credi Conroller/Manager has a degree in Business/Accouning/Commerce wih a leas 4 years o relevan experience.Credi Managers have a horough grasp o credi managemen principles (adminisraion, legal, developmen, collecion andreporing) and know how o apply hem o he needs o he business. Te ideal candidae is analyical and independen.


Tis is ypically a specialised uncion where proessional advancemen is limied. Aer 2 o 3 years in his posiion, he CrediManager mus refec on his/her proessional uure and explore opporuniies o diversiy and advance.

Tis process can be dicul bu is necessary and may allow him/her o advance ino posiions such as conrolling. He/She mushave good communicaion and inerpersonal skills, which may also open he door o sales-oriened posiions.

25


< 5 years

90,000

110,000

100,000

120,000

110,000

Experience

minimum

minimum

maximum

maximum


SalarySalary Salary

100,000 110,000

125,000 155,000

135,000

average

110,000

118,000

135,000

200,000

158000

SME




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2.5 Audit

2.5.1 Head of Internal Audit & Compliance

Te Head o Inernal Audi is responsible or all inernal audi uncions, providing independen, objecive assurance and consulingservices designed o add value and improve company operaions. Tis posiion principally concerns large companies.

The main tasks are:

Develop a long-erm audi sraegy

Analyse and assess he ri sk assumed by he business (marke, credi, operaional, legal and compliance)

Ideniy key risks wihin a variey o sraegic business and ransacion processes

Examine and repor on he eeciveness o risk managemen wihin he company; provide criical advice and monioring,mainly wih respec o key inernal conrol and relaed signican operaing risk exposure

Advise he company on bes pracice developmens in inernal audi and risk managemen; ideniy a nd publicise he besinernal pracices

Recrui, rain and coach he inernal audi eam

Coordinae relaionships wih inernal audiors

Paricipae in company growh (due diligence audis, ec...)

Reports to:

PresidenGeneral DirecorFinancial DirecorAdminisraion Board

Very oen, deermining who he Head o Inernal Audi will repor o is a crucial decision wihin he company. o guaraneeindependence, he Head o Inernal Audi usually repors o general managemen.

Profle:

Mos companies seek proles o accounans wih Big 4 audi experience, or wih a solid accouning background, and ideally wih aceried inernal audior designaion. Recruiing audi sa wih srong Inormaion echnology skills is quie common, especiallywhen hey have a Ceried Inormaion Sysems Audior designaion. Proessional designaions such as Ceried Inernal Audior(CIA) or Ceried Inormaion Sysems Audior (CISA) are oen appreciaed by inernaional companies.Experience in handling inernal conrols and he Sarbanes Oxley Ac compliance may also be quie useul or US companies.

Generally he candidae is a qualiied accounan wih a minimum o 6 years inernal audi experience, ogeher wih anin-deph undersanding o he audi proession and a solid experience in managemen (5 years minimum). He/She has odemonsrae iniiaive, drive and excellen communicaion skills. Above all, he/she mus have a high level o personal andproessional ehics. In mulinaional companies, he Head o Inernal Audi is required o ravel o visi subsidiaries, hus fexibiliyis required.

27

*Inernal Audi is no commonly implemened in small organisaions relaive o is high cos.


Since 23, we have observed a solid demand or his posiion. Tis rend is explained by he creaion o Shared Services Cenresand, in urn he increasing desire o companies o cenralise suppor uncions.

Te Head o Inernal Audi mus ensure he inegriy o inormaion and have a high ehical sense in order o deal wih poenialrauds. Te Head o Inernal Audi is a key posiion in he company.

Wih a solid background in nance or accouning, he Head o Inernal Audi could be considered or a Financial Direcor Posiion.



5-10 years

N.A.

N.A.

N.A.

120,000

219,000

170,000

Experience

minimum

minimum

maximum

maximum

> 10 years

SalarySalary

N.A.

N.A.

N.A.

240,000

average

average

160,000

209,000


SME*


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2.5.2 Internal Auditor

Large organisaions may employ Inernal Audiors. An Inernal Audior is responsible or a series o projecs o check sandardsand inernal conrols. An Inernal Audior mus deermine he eeciveness o accouning procedures.

He/She assesses he reliabiliy o accouning/nancial records and oher operaions or conrols. Tis posiion involves a specialisedapplicaion o audiing echniques.

Te Inernal Audior deermines and addresses any poenial issues prior o an exernal audi and generally improves eciency wihinhe company. Te work is varied, projec-based and high-prole, wih he audi repor and recommendaions being presened o heRegional Managemen, he Main Board and he Audi Commitee.

The main tasks are:

Tree main ypes o audi missions can be disinguished:

Financial audi: repors o inancial saus (provision, socks, depreciaion); accouning analysis rom local norms ogroup norms; ensuring he relevancy o managemen indicaors, perormance validaion, accounancy assisance osubsidiaries or closings; assising in he developmen o he corporae risk map, dening conrol soluions, and managing hereview process o evaluae he companys eciency, eeciveness and compliance wih corporae policies and procedures

Operaional audi: review o company cycles (purchasing, producion, sales); analysis relaive o HR managemen, legaldeparmen and inormaion sysems; bes pracice shari ng

Special audi missions: paricipaion in M&A missions (due diligence ec...)

A mission involves 3 or 4 seps:

Collecion o inormaion relaed o he audied subjec. A risk-based approach is mos prevalen

Inervenion in he eld

Repor (summary o observaions, recommendaions, acion plans)

Follow-up on he implemenaion o acion plans

Reports to:

Inernal Audi Direcor

Financial and Adminisraive ManagerManaging Direcor

Profle:

Tis posiion is generally accessible o young proessionals wih 2 o 5 years audi ex perience in a Big 4. Te inernal audi posiionis a demanding one and requires a srong commimen rom he candidae.

Exensive ravel may be required in larger companies. As many inernaional rms have chosen Swizerland as heir European head-quarers, his uncion oen enails inernaional ravel (5% o 8%) as a member o a eam o audiors.

Tis aspec o he uncion can be culurally challenging and also highly sociable.

29


Te Inernal Audi uncion has aken on a much higher prole wih he recen emphasis on corporae governance and hecorporae conrols environmen. Candidaes will have a magnied view o he company and is global operaions. Tis posiionis unique in ha i spans he divide beween he sraegic vision o he corporae head oce and he realiies o he operaingcompanies.

Mos deparmens ocus on operaional and conrol reviews raher han on he purely nancial reviews ha mos candidaes willhave experienced during heir proessional raining. Candidaes will usually spend beween 18 monhs and 3 years ravellingexensively in his uncion beore moving ino an operaional or analyical role wihin he core business.


*Inernal Audi is no commonly implemened in small organisaions relaive o is high cos.

< 5 years

N.A.

N.A.

N.A.

100,000

130,000

110,000

Experience

minimum

minimum

maximum

maximum

5-10 years

SalarySalary

N.A.

N.A.

N.A.

165,000

average

average

125,000

136,000

SME*




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2.5.3 External Auditor

All Swiss organisaions, in boh he public and privae secors, mus prepare an annual nancial repor, planning ou heir aciviiesor he year and heir resuls a he end o he year. Te nancial repors o mos organisaions mus also be reviewed by an exernalbody, called an Audior. A regisered Audior is an Accounan wih an appropriae qualicaion.

he naure o he audi will vary according o he aciviies o he organisaion. An audiors job is o invesigae dierenaspecs o he organisaions aciviies each year. Alhough Audiors work closely wih he Financial sa o each organisaion,hey repor independenly. In he audi o a limied company, heir repor will go o he shareholders. An Exernal Audior haswo ypes o missions: (1) legal or conracual audis; (2) special missions requesed by cliens.

The main tasks are:

Undersand how he business operaes as a whole including he nancia l ransacions ha are cenral o he organisaionsaciviies

Review he summarised nancial repors used by he organisaion

Ideniy he poenial areas o nancial risk ha require closer examinaion; sudy hese risk areas in more deail and reviewareas o concern wih he organisaions managemen; communicae he resuls o he audi o boh managemen and exernalshareholders

Exernal Audiors usually operae on one o he ollowing levels: Assisan, Senior, Manager, Direcor, and/or Parner.

Reports to:

Parner and someimes a Projec Direcor or Manager

Profle:

Mos consulans wihin audi accouning rms are juniors w ih 1 o 2 years o ex perience or recen graduaes . Te Big 4 audi rms(Erns & Young, Deloite, KPMG, and PriceWaerhouseCoopers) are excellen places o sar a career, as he c andidae will receivea high level o raining, gain considerable ex posure o dieren indusries and develop a variey o skills.


Several years o audi experience provide a good overview o various nancial and accouning posiions and is an excellen raining

or a possible uure career move o an Inernal Audior or a Financial Analys posiion.

Proessional accouning degrees (ACCA, Breve dExper Compable/Eidg. dipl. Wirschasprer ec.) are generally required bysome companies o become a Parner or a Financial Conroller.

As presigious as a Big 4 audi experience may be, mulinaional corporaions are drawing many accounans away rom he Big 4. Among he perceived advanages are: greaer specialisaion, higher compensaion and benes and mos imporanly, a moreatracive career. Tis is why, as sophisicaed as heir recruimen process or junior posiions may be, he Big 4 are oen shoro Senior Audi proles wih 4 years o experience.

31


Te ollowing is an overview o salaries. Salaries may be higher depending on he posiion o he Audior. I an Audior wih 9 o 1years experience is already a Parner, his/her salary could approach 25, CHF. A Parner wih a similar prole and more han 12years experience can earn up o 3, CHF per year.

Auditor / Senior / AssistantManager (0-4 years)

Manager / SeniorManager (> 5/6 years) Partner

0

Experience

minimum

minimum

maximum

maximum

SalarySalary Salary

250,000110,00072,000

350,000170,000115,000

300,000141,00099,000average

average

N.A.N.A.N.A.

N.A.N.A.N.A.

N.A.N.A.N.A.

SME*

GROUP /

MULTINATIONAL

*Exernal audi is handled by duciary rms ha we consider as SME, even he Big 4, where hey are independen.0Becoming a parner usually involves buying shares rom he duciar y and being acceped by he oher par ners.



21/35

3. ACCOUNTINGPOSITIONS


22/35





3.1 Chie Accountant/Accounting Manager

Te Chie Accounan is responsible or he operaion o all managing accouning uncions and he preparaion o repors andsaisics wihin large organisaions.

The main tasks are:

Provide assisance o he Financial Direcor in he preparaion and compilaion o he annual budge, provide analysis andorecass as well as liaising wih budge holders where necessary

Help prepare annual accouns in compliance wih appropriae accouning sandards

Provide ax and social saemens

Manage accouning uncions and he preparaion o repors and sa isics

Prepare orecas documens

Mainain and develop managemen inormaion sy sems

Manage, drive and rain a eam (w hose size will depend on ha o he company) in order o provide accouning and nancialsaemens

Reports to:

Finance ManagerCFO

Profle:

Tis posiion generally requires a qualied charered accounan (Swiss Ceried Accounan/Eidg. Fachausweis im Finanz- undRechnungswesen; ACA, ACCA, CPA, DESCF) wih 2 years experience minimum in a managemen accounan role.

Te ideal candidae has leadership qualiies, eam managemen experience and demonsraes he abiliy o improve accouningprocedures and working pracices.

Some companies view previous experience in an ERP implemenaion or a similar projec as an advanage.


An accouning qualicaion is essenial o become a Finance Manager in large companies or a Financial Direcor in an SME.

Te Breve Fdral dExpers-Compables/Eidg. dipl. Wirschasprer or similar accouning qualicaion is also essenial obecome a Parner or o sar ones own accouning rm.

35


3. ACCOUNTING POSITIONS

Chief AccountantAccounting Manager

5-10 years

Chief AccountantAccounting Manager

> 10 years

100,000

130,000

110,000

110,000

150,000

125,000

Experience

minimum

minimum

maximum

maximum

SalarySalary

110,000

150,000

125,000

200,000

average

average

125,000

145,000


SME


23/35





3.2 General Accountant

Te General Accounan perorms accouning and nancial uncions.

The main tasks are:

Prepare nancial managemen repors including nancial planning and orecasing

Prepare nancial saemens including monhly and annual accouns

Mainain accurae nancial records and prepare clear and accurae repors or inormaional, audiing and operaional purposes

Mainain accouning records or special accouns and projecs

Advise on ax and reasury issues

Reports to:

Chie AccounanAccouning ManagerFinance Manager

Profle:

In Swizerland, junior candidaes mus have he CFC de commerce/KV-Abschluss (a Mauri/Maura or a business degree) wihraining as a Junior Accounan or as an Assisan Accounan or a minimum o 1 o 2 years o become a General Accounan. Anacademic background such as a Diplme dEconomise dEnreprise ES/HW V-Abschluss may also be considered.

Candidaes may hen consolidae heir academic raining wih he Breve Fdral en Finance e Compabili/Eidg. Fachausweis imFinanz- und Rechnungswesen or wih anoher cer ied accouning degree.


Depending on he size o he company, an Accounan can atain a Chie Accounan or a Financial Direcor posiion, boh o whichrequire a qualied accouning degree: Diplme Fdral dExper en Finance e Conrolling/Eidg. dipl. Expere in Rechnungslegungund Conrolling (3 years raining); Breve Fdral dExpers-Compables/Eidg. dipl. Wirschasprer (rom LAcadmie SuissedExperise Compable Lausanne).

Tis posiion has experienced considerable changes in recen years and now requires real echnical and managerial knowledge.Sricer qualicaion sandards or ceried/qualied accounans have improved he image o he proession. Te diverse naure ohe posiion, including he conrolling aspec, has also c onribued o his improved percepion.

In Swizerland, here is a srong demand or bilingual English/French- or English/German-speaking accounans. Familiariy wihinormaion sysems (ERP such as SAP or Oracle) is a plus.

As many mulinaionals choose Swizerland as heir headquarers, an Anglo-Saxon accouning degree such as ACCA, CPA orCIMA may be required, in which case previous exposure o inernaional nancial reporing is desirable, ogeher wih a goodknowledge o inernaional accouning sandards (US GAAP, IFRS).Compeen, compleely bilingual accounans (French and English or French and German) are in shor supply compared o hehigh demand or his qualicaion.

37


Junior Accountant

(< 5 years)

General accountant

(5-10 years)

Senior General

Accountant (>10 years)

100,000

80,000

115,000

110,000

105,000

95,000

Experience

minimum

minimum

maximum

maximum

SalarySalary Salary

125,000

135,000

average

average

110,000

100,000

118,000

110,000

120,000

110,000

165,000

150,000

131,000

120,000

SME




24/35





3.3 Fiduciary Accountant

A Fiduciary Accounan in Swizerland works or Ceried Public Accounan rms, which provide accouning, audiing, and axservices as well as experise o individuals, companies and insiuions.

The main tasks are:

Manage muliple cliens accouns

Review duciary accounings

Perorm accouning and audiing consuling duies including he preparaion o nancial saemens

Perorm ax consuling duies: be procien in he preparaion o cor porae, individual, and duciary reurns

Direc clien conac

Inerac wih parners, associaes, accounans, bank ocers & brokers and esae adminisraion

Reports to:

Head o Fiduciary

Profle:

In Swizerland, his posiion requires, in addiion o a CFC de commerce/KV-Abschluss (a Mauri/Maura or a business degree),he Breve Fdral dAgen Fiduciaire/Eidg. dipl. reuhnder or he Breve Fdral en Finance & Compabili/Eidg. Fachausweisim Finanz- und Rechnungswesen.

Any candidae wih a Bachelor or Masers degree in Accouning is also considered.Qualicaions such as a CPA are an advanage. Exposure o duciary accouning is required and experiences wih Swiss duciaryincome ax and esae ax compliance are a plus.


A Fiduciary Accounan wih experience gained in one o he Big 4 and wih a minimum o wo European languages (includingEnglish) has good career advancemen possibiliies wihin a large company. For example, a Fiduciary Accounan can advance o

Inernal Audi posiions.

39


85,000

55,000

106,000

100,000

100,000

>75,000

Experience

minimum

minimum

maximum

maximum

SalarySalary Salary

116,000

125,000

average

average

92,000

65,000

107,000

84,000

120,000

90,000

148,000

130,000

131,000

103,000

Junior Accountant(< 5 Years)

Senior Fiduciary

Accountant (5-10 years)Fiduciary AccountingManager (>10 years)

SME




25/35





3.4 VAT Accountant

Te VA Accounan prepares and submis VA and Inrasa declaraions or he counries serviced by he Finance deparmenor he Financial Shared Serv ice Cenre.

The main tasks are:

Complee VA reurns and paymens/recovery o VA

Help wih quarerly VA reurns (including oreign VA reunds or mulinaional companies), review compliance processes,risk managemen, projec and general educaion o senior sa abou he impac o VA on commercial decisions

Eec VA accoun reconciliaion

Suppor he local organisaion in case o ax audis

Assis in he mainenance o VA rules

Help manage direc/indirec ax projecs

Reports to:

VA ManagerAccouning Manager

Profle:

Companies seek candidaes wih a minimum o 2 years Accouning experience and some VA knowledge, eiher in an iner-naional environmen or in a Big 4 exernal audi. For more senior candidaes wishing o atain a managemen posiion, a recognisedaccounancy qualicaion is required, such as CIMA, CPA or a Breve Fdral en Finance & Compabili/Eidg. Fachausweis imFinanz- und Rechnungswesen.

In Swizerland, large companies are generally responsible or he E MEA region (Europe, Middle Eas and A rica). Tis means haa solid knowledge o European Inrasa processes as well as radiional VA asks can be required in some cases.


A VA Accounan has he opporuniy o become a ax specialis. In addiion, all hree posiions previously described (General,Fiduciary and VA Accounan) can lead o higher accouning posiions such as Accouning Manager or Head o Accouning.

80,000

60,000

110,000

100,000

100,000

80,000

Experience

minimum

minimum

maximum

maximum

SalarySalary Salary

130,000

120,000

average

average

100,000

90,000

110,000

100,000

120,000

90,000

159,000

130,000

132,000

113,000

Junior Accountant(< 5 Years)

Senior VAT

Accountant (5-10 years)VAT Accounting

Manager (>10 years)

SME




41


26/35





43

experience as a junior accounan or assisan accounan. An academic background such as Diplme dEconomise dEnrepriseES/HWV-Abschluss may also be considered.

Candidaes may hen consolidae heir accouning skills wih he Breve Fdral en Finance e Compabili/Eidg. Fachausweis imFinanz- und Rechnungswesen or wih anoher ceried accouning degree (Bachelor or Maser oered by universiies or privaeinsiuions).

Te Payable/Receivable Accounan mus have a good undersanding o he accouns payable/receivable process. Srong compuerskills including a working knowledge o Excel, Word and general ledger soware packages are required. Good communicaion skillsare also imporan in ensuring ha all clien lae paymen issues are resolved in an accepable manner.


Depending on he size o he company, a Payable/Receivable Accounan may become a Payable/Receivable AccouningManager or Chie Accounan. A qualied accouning degree is a prerequisie: Diplme Fdral dExper en Finance eConrolling/Eidg. dipl. Expere in Rechnungslegung und Conrolling (3 years raining); Breve Fdral dExpers-Compables/

Eidg. Dipl. Wirschasprer.


3.5 Payable/Receivable Accountant

Te Payable Accounan is responsible or ensuring paymen o invoices by veriy ing and compleing payable ransacions.Te Receivable Accounan veries and poss accouns receivable ransacions o journals, ledgers and ohers records. He/Sheollows esablished procedures or processing receips, cash, ec., and may also prepare bank deposis.

The mains tasks o a Payable Accountant are:

Pay invoices by veriying and compleing payable ransacions/claim unpaid invoices

Ensure ha all invoices are sored and posed on a weekly/monhly basis

Conrol all accouns/invoices

Ensure ha all cheques are lised and posed or all bank accouns

File all invoices, non-credior paymens, credior and nominal ledger repors

Assis wih general operaions (cash couning, wages disribuion)

Provide monhly and on reques analyses and repors

The main tasks o a Receivable Accountant are:

Monh-end billing processes, including gahering highly deailed billing source daa, organising and managing daa anduploading billing daa ino he accouning sysem

Creaion o monhly invoices

Reconciliaion o he nal billing repors and source documens o he general ledger

Reconciliaion o he general ledger o he accouns receivable aging repors

Preparaion o bank deposis, processing o cusomer prepaymens by credi card, and/or applicaion o cusomer paymens inhe accouning sysem

Processing o credi and debi memos as necessary

Communicaion o accoun inormaion o Sales & Credi Deparmens as requesed; mainenance o cusomer les as needed

on a regular basis

Reports to:

Payable Accounan ManagerChie Accounan/Accouning Manager

Profle:

In Swizerland, a Payable/Receivable Accounan ollows he same academic raining as a General Accounan. Te junior prolesmus have he CFC de commerce/KV-Abschluss, a Mauri/Maura or a Business degree wih a minimum o 1 o 2 years raining


Accounts Payable /Receivable

Payable / ReceivableAccounting Manager

71,000

100,000

92,000

85,000

105,000

91,000

Experience

minimum

minimum

maximum

maximum

SalarySalary

90,000

120,000

105,000

140,000

average

average

100,000

121,000


SME


27/35

4. SPECIALISTPOSITIONS


28/35





00Mos o he ime, his sraegic uncion is dedicaed o a CFO level and salaries can go up o he level o he relaed posi-ion (34, o 35,).*M&A aciviy is almos insignican in SME.

47

Salary indication (in CHF):4.1 Mergers & Acquisitions (M&A)/Business Development

Te Corporae Sraegy/M&A Specialis plays a key role wihin business developmen or he company.

The main tasks are:

Formulae acquisiion sraegies, plan execuion schedules, sreamline he acquisiion process, manage a porolio o core programslinked o he developmen o he company, ormulae and develop deailed nancial models and valuaion scenarios or poenialransacions

Lead he assessmen o he accouning impac relaing o proposed mergers & acquisiions, business deals and oherransacions, perorm due diligence procedures relaing o poenial mergers and acquisiions

Develop program/budge esimaing; assemble procuremen documenaion; conribue o he evaluaion o conracor cosproposals; prepare cos esimaing daa or prospecive acquisiions; perorm conracor cos and schedule perormancemeasuremen asks; monior conracor perormance hrough burn rae analysis; a ssis he program managemen eam andleadership wih sraegic business planning and economic analysis

Work wih Financial Planning & Analysis and Invesor Relaions on nancial analysis and speci c projecs; paricipae in specialprojecs and iniiaives

Paricipae in ransacion negoiaions and wrie legal documenaion

Reports to:

Corporae Developmen ManagerChie Financial OcerChie Execuive Ocer

Profle:

M&A work is highly echnical and ocuses on high prole cliens and projecs, including mergers, acquisiions and ransacions ormulinaional organisaions and nance houses. Cliens are mulinaional companies, invesmen banks, he Big 4 corporae nancedeparmens and inernaional ax deparmens in medium-ier rms.

For his ype o posiion, specialiss a all levels wih experise in Mergers & Acquisiions may be required. In general, candidaesare rom a wide range o backgrounds, including charered accounans, ax proessionals, and qualied lawyers who have rained inproessional rms, indusry and commerce, and he nancial services secor.

Tey also hold a high level academic diploma. Junior prole candidaes will have a minimum o 3 years experience in ransacions work.


Te M&A Specialis is a n exposed posiion because he invesors rely direcly on his analysis and acquisiion sraegies.An M&A Specialis can move on o he posiion o Corporae Finance Manager or Corporae Developmen Manager.

4. SPECIALIST POSITIONS

5-10 years

N.A.

N.A.

N.A.

110,000

220,000

160,000

Experience

minimum

minimum

maximum

maximum

> 10 years

SalarySalary

N.A.

N.A.

N.A.

220,0000

average

average

138,000

184,000


SME*


29/35





49

*Tere is almos no consolidaion in SME.

Salary indication (in CHF):4.2 Consolidation

Te Consolidaion uncion implies responsibiliy or compilaion, preparaion and analysis o consolidaion nancial saemens.

The main tasks are:

Consolidaion, wihin he required ime schedule, o nancial economic inormaion and is ransormaion ino managemeninormaion argeed a relevan paries (group, business unis, counries, sies) and consolidaion o he annual a nd quarerlyconsolidaed accouns

Weekly and monhly commenary on consolidaed resuls, reporing

Analysis o monhly acual resuls

Preparaion and analysis o consolidaed mid-year orecas and budge presenaion

Analysis and accouning in he areas o conracs and pricing including: asses, amorisaions, and accruals

aking par in he consolidaion o he business unis and he groups annual budge

Ensuring ha accouning records in boh managemen reporing and sauory consolidaion are prepared and mainained inaccordance wih he company's accouning policies, c harer o accouning pracices and relaed accouning principles andpracices, and ha subordinae ledgers reconcile wih he general ledger

Improvemen o adminisraive procedures and auomaion wihin he consolidaion deparmen

Reports to:

Finance DirecorDirecor o Consolidaion

Profle:

Tere is no specialised qualicaion or his echnical uncion. Candidaes usually possess a Universiy degree (Accouning/Business, Economics/Business, and Accouning) or accouning qualicaions (ACCA, CPA). Consolidaion uncions concerncandidaes having more han 5 years o experience in audiing wih a consolidaion componen or in accouning.

Te as developmen o Inormaion echnologies requires more and more knowledge in Enerprise Resource Planning (ERP)

soware.


Currenly he consolidaion posiion is a a crossroad o key inormaion fow rom or o he conrolling, accouning and nancialdeparmens. Is uncion is o selec and synhesise inormaion in order o provide high qualiy ools or aciviy managemen.Tese characerisics, combined wih he absence o specic universiy raining , lead o a general candidae shorage.

Tere are ew naive Swiss candidaes wih he skills needed or his posiion. Tereore, Anglo-Saxon proles accoun or hemajoriy o recruimens, wih a corresponding increase in salary levels.


5-10 years

N.A.

N.A.

N.A.

100,000

160,000

135,000

Experience

minimum

minimum

maximum

maximum

> 10 years

SalarySalary

N.A.

N.A.

N.A.

215,000

average

average

120,000

160,000


SME*


30/35





51

As reasury oers he opporuniy o deal wih he assessmen and managemen o corporae risk, reasury experience can open doorswihin corporae nance, indusry and banking and possibly serve as a springboard o general managemen.


In recen years, his posiion has changed due o he pressures o volaile money markes, and he need o proacively plan uurenancing and use inormaion echnology. Te Corporae reasurer is now a relaionship manager, balancing he demands o hebusiness isel (including subsidiaries) and such exernal sakeholders as banks, crediors and shareholders.

A he junior level, uncions have ended o become more operaional wih an improvemen in recruimen aciviy or bohreasury Dealer and Analys roles. Wih he adven o Sarbanes-Oxley and IAS 39, qualied accounans who are ineresed inworking in reasury conroller posiions are more in demand.

A he senior level, here has been an increased demand or candidaes, as companies implemen previously agreed expansion plansdespie he general lack o M&A aciviy.

A career in reasury is an opporuniy o work a he hear o an organisaion, providing valuable suppor o all is key uncions. Terole o he reasury proessional is exremely varied, incorporaing a range o proessional disciplines such as money managemen,accouning, corporae nance, risk managemen and corporae governance.

While he skills demonsraed by a reasurer have long been acceped as vial o business success, he reasury proession isundergoing coninuous change. he uncion o a reasurer is usually less rigid han ha o a lawyer or an accounan. In ac,he reasurer has he scope o develop his or her own brie according o he sraegic aims o a business.

An atracive career wih advancemen opporuniies is possible wihin Corporae reasury rom reasurer hrough o Groupreasurer.


4.3 Treasury

4.3.1 Treasurer

Te reasurer is he company ocer who is responsible or managing boh unds (and relaed risks) and he developmen andmainenance o group cash fow. Depending on his/her experience and he inernaional scope o he company, he reasurer mayhave varying degrees o responsibiliy or invesmen, nancing negoiaion and nancial cover operaions.

Te reasurer's uncion may vary widely. As well as negoiaing wih banks abou unding, he reasurer may be involved in examiningrisk managemen issues and be responsible or cash managemen group-wide.

The main tasks are:

Managing day-o-day cash and reasury orecass

Monioring and hedging he FX and ineres rae exposures and calculaing he curren and orecas hedge raios

Managing oreign exchange risks

Providing reasury reporing

Improving and developing reasury policy and guidelines

Advising on signican marke movemens and rends

Cash-pooling and cash managemen

Coordinaing iner-company loans and capialisaions

Managing relaionships wih banking parners

Opimising inormaion sysems

Tese asks may be very dieren relaive o he company, or he domain covered by he posiion. Furhermore, every ask can beconsidered an unique reasury role. reasury oers a good overview o all nance-relaed elds including analysis, unding andaxaion.

Reports to:

Group reasurerFinancial Direcor

Profle:

Companies seek candidaes wih a Universiy degree in Finance or wih an educaion rom Business school (HEC, HEG).Increasingly, reasury is becoming a popular opion or he more commercially-minded ACCA who is looking o genuinelyadd value o a business. As such, a reasurer is likely o be a qualied accounan or an experienced reasury proessional wih a proessional reasuryqualicaion and wih excellen reasury sysems knowledge. A hands-on knowledge o reasury sysems is oen considered anasse and an aid o decision-making.


Treasury Analyst toExperienced Treasurer

(3-8 years)

Cash Manager to Headof Treasury(> 8 years)

100,000

140,000

110,000

110,000

144,000

120,000

Experience

minimum

minimum

maximum

maximum

SalarySalary

110,000

180,000

140,000

250,000

average

average

125,000

177,000


SME


31/35





53


I he candidae wishes o advance in his eld, he/she can readily move ino a reasury posiion wih a rs experience as reasuryAssisan beore ataining he posiion o reasurer.

Demand or reasury Accounans coninues o ousrip supply. Experienced reasury accounans who wish o coninue in hiseld are highly sough aer, which has led cliens o ake on less experienced accounans sraigh rom pracice (i hey are newlyqualied ACCA, hey will ypically have audied reasury producs or reasury deparmens).

Successul candidaes will ypically have a srong academic background and a very good examinaion pass record. reasuryconinues o be a high proile career bu i can also be a sepping sone o oher senior inance roles.


4.3.2 Treasury Accountant

Te reasury Accounan is responsible or he producion o managemen accouns, liaising wih he group on all reasury-relaedransacions, as well as conducing oher ad hoc projecs.

The main tasks are:

Oversee day-o-day reasury aspecs o cash managemen and invesmen, assis wih cerain pos-acquisiion aspecs, veriybank ees and all iner-company ransacions

Pos all reasury-relaed ransacions o he general ledger

Calculae accruals on exernal/iner-company borrowings and invesmens

Prepare saemens or iner-company loans and accouns

Develop and manage cash orecasing and budgeing

Reconcile ineres apporionmen on iner-company balances reasury-relaed bank accouns, inernal and exernal borrowingsand invesmens, oreign exchange dealings

Manage company invesmens

Monior all bank accouns o ensure sucien unds o mee cash oufows

Manage day-o-day aciviies and correspondence

Manage he audi process wih accouning rms

Mainain he overall inegriy o he accouning records, supporing analyses, and documenaion o procedures

Ensure perormance reporing

Reports to:

reasurerAccouning Manager

Profle:

ACCA/CIMA qualied candidaes or candidaes wih a par qualied accouning degree or wih a Breve Fdral en Finance eCompabili/Eidg. Fachausweis im Finanz- und Rechnungswesen, preerably wih 2 years minimum accouning experience, areideally suied or his posiion.

Candidaes wih a Bachelor/Maser in Finance or Accouning and wih solid reasury experience may also be considered.Frequenly, reasury accounans come rom banking or back-oce posiions.

Candidaes mus possess srong inerpersonal skills. He/She should be a conden communicaor wih excellen numerical andorganisaional skills.


2-5 years

80,000

120,000

100,000

90,000

140,000

110,000

Experience

minimum

minimum

maximum

maximum

> 5 yearsSalarySalary

100,000

150,000

120,000

160,000

average

average

100,000

120,000


SME


32/35





55

0Salary o ax parner level.*In his case, we consider he SME as Fiduciaries or Law Firms, because hey provide ax advice o SME.


In Swizerland, many large corporae companies, nancial services rms and law rms have an in-house ax eam wihin heir legaldeparmen. For hese companies, a combinaion o good commercial acumen and a sound knowledge o accouning gives o hecandidaes a compeiive edge. Te lack o ormal ax raining is no usually an issue - he echnical learning curve is seep bu hechallenge is by no means unobainable.

However, i should be noed ha or senior ax managemen posiions in law rms, a ax exper qualicaion is essenial, especiallyor becoming an associae or a par ner.

Tis posiion is he highes ax posiion wihin he organisaion. Te career advancemen opporuniies are direcly proporional ohe inernaional complexiy o he company.


4.4 Tax Specialist (Direct/Indirect & Transer Pricing)

ypically, a role in a corporae eam will be compliance-ocused and will deal wih a broad range o corporae ax complianceissues as well as VA. Te secor and size o he rm will infuence he scope and variey o he work. Te ax Manager will oenwork closely wih exernal advisers o seek new soluions o exising and uure ax issues. Te ax Manager may also deal wihprivae clien and parnership planning. A ax Manager will be concerned wih maximising he wealh o he paries concernedhrough planning as well as ensuring ha all personal ax obligaions are me.

An expariae ax or employer ax uncion will usually be compliance-ocused and will deal wih all aspecs o reward andemployer axes. Expariae ax covers broad-ranging issues dealing wih minimising ax liabiliy or non-Swiss candidaesworking in Swizerland or Swiss candidaes overseas and will oen have a human resources aspec.

Larger rms may also employ in-house indirec ax advisers ocusing more paricularly on VA, cusoms compliance and planning.Indirec ax represens a major cos o all organisaions and is growing more and more complex due o ever-changing legislaionand he ac ha many rms are becoming increasingly inernaional. Tere is oen a shorage o candidaes in his eld, making i ahighly lucraive area in which o specialise. Currenly, VA experience/knowledge is imporan in all y pes o companies.

The main tasks are:

Tere are our core areas o a x. Tese can be subdivided ino highly specialised areas, some o which are lised:

Corporae ax: Swiss corporae/inernaional/ranser pricing, FS ax, M&A/ransacion ax

Privae cliens: wealh managemen, inheriance ax, capial gains ax, russ

Employee and expariae: worldwide assignmen managemen, compensaion and benes

Indirec ax: VA, cusoms, landll a x

ax is usually spli ino Compliance, Advisory and Consulancy.

Compliance: process-driven preparaion o ax compuaions or personal a x

Documents

Salary Survey Finance 2009 2010