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Royalty Executive

Employer
DESIGN AND ARTISTS COPYRIGHT SOCIETY
Location
UK
Salary
Competitive
Closing date
24 Jun 2022

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Sector
Accountancy
Contract Type
Permanent
Hours
Full Time
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Team: Finance

Job title: Royalty Executive

Key Purpose of the Role:

As part of the Finance Team at DACS to assisting the Royalties Manager with the company's Accounts Receivable and Debtor Control processes, as well as providing support to Distributions.

The role is responsible for ensuring the company's various revenue streams flows are maintained, enabling DACS to pay our members in a timely manner.

Responsibilities:

Accounts receivable routines including:
  • Issuing and recording UK and overseas sales invoices for a variety of revenue streams.
  • Issuing and recording invoices for collective revenues, but also suppliers and sundry. Ensuring credit notes are properly authorised and processed. Processing cheque and credit card receipts. Analysing and recording foreign currency receipts from worldwide partner organisations.
  • Carrying out daily banking routines efficiently by processing payments (including royalty payments) and receipts and recording the transactions in SAP or other IT systems in place. Post payment rejections to bank and liaise with issuer of payment for re-issue.

Credit control routines including:
  • Issuing customer statements. Maintaining of debtor records including recording correspondence and contact information adhering to data protocols for the effective administration of SAP.
  • Proactively chasing debtors by telephone, e-mail and letters Liaising with the Artimage, ARR and Legal managers to report on problem payers and minimising exposure to new credit risk Monitoring and updating the Bad and Doubtful Debt Provision Monthly reporting to the company of debtors position Recording and corresponding with companies that have gone into liquidation in cooperation with the legal department.

Distributions
  • Liaising with the Artist Services and Accounts teams to resolve any queries arising from the distribution relating to distribution and payment information in order that the right payment can be made to the right recipient at the right time.
  • Issuing royalty payments by BACS, cheques and international transfer, obtaining the relevant authorisation for payment and reconciling the payments accordingly.
  • Producing and issuing the correct paperwork with each distribution, including statements, VAT self-billing invoices and R185 forms.
  • Communicating with Artists and Sister Societies around the world in relation to outgoing payments.
  • Resolving all issues arising in the distribution processes which require intervention e.g. bank account details, payee names, taxation information.

Withholding Tax
  • Requesting annuallyt DACS' certificate of residence from tax authorities. Circulating certificates of residence to Sister Societies (DACS overseas equivalent).
  • Obtaining correct tax certificates from Sister Societies to enable payment.
  • Completion of any additional withholding tax forms sent to DACS by either Sister Societies or overseas debtors.

Reporting
  • Revenue reports are maintained accurately and provided on time.
  • Assisting with the preparation of papers for external bodies as necessary including: Auditors, taxation authorities for quarterly VAT and CT 61 returns and compliance.
  • Cover of accounts payable routines when required to do so.

General
  • Ensure that all payments to artists are made accurately and on time.
  • Supporting the maintenance and development of internal control. measures to safeguard the assets and income of DACS and to minimise the potential for fraud.
  • Ensuring all department procedures are fully documented and accessible.
  • Maintain the accuracy and quality of databases in a timely way. Produce reports as required for Senior Management.
  • Take part in cross organisational projects and support a culture of cross-organisational working to maximise operational benefits.
  • Ensure you share your knowledge with others in DACS i.e. communicate knowledge at meetings, informally and/or via email/other systems.
  • Contribute to the smooth introduction of new technology to minimise use of paper and provide streamlined services.
  • Observing confidentiality about sensitive information at all times.
  • Supporting a culture of cross-organisational working so as to maximise operational benefits and ensure knowledge is shared.
  • Contributing to the overall objectives of DACS.
  • Demonstrating a commitment to the ethos and values of DACS and act as an ambassador for DACS in the art-world and related industries.
  • Demonstrating an understanding of, and a commitment to, equal opportunities and diversity.
  • Any other duties that are commensurate with the role.

Person specification

Essential
  1. Excellent communication and interpersonal skills.
  2. Diligent with attention to detail.
  3. Educated to a minimum of A level standard.
  4. Experience and competency with Microsoft Office - Especially Excel.
  5. Highly numerate with an understanding of the basic principles of finance and accounting.
  6. Comfortable working with large data sets.
  7. Experience working with Accountancy systems.
  8. Excellent organisation and time management skills, with the ability to prioritise tasks and to juggle conflicting demands within a busy working environment.
  9. The ability to give and receive constructive feedback to continually improve standards of delivery.
  10. Drive, motivation, and enthusiasm for collaborative working in a non-profit organisation Demonstrate an understanding of, and a commitment to, equal opportunities and diversity.

Desirable:
  1. An interest in and knowledge of the visual arts.
  2. Educated to a degree level or ATT.
  3. Accounts receivable experience.
  4. Knowledge and experience of online banking portals.
  5. Experience with Debtor Control.
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