Chief Accountant, Italy

ABOUT SOTHEBY'S

Established in 1744, Sotheby’s is the world’s premier destination for art and luxury. Sotheby’s promotes access to and ownership of exceptional art and luxury objects through auctions and buy-now channels including private sales, e-commerce and retail. Our trusted global marketplace is supported by an industry-leading technology platform and a network of specialists spanning 40 countries and 70 categories which include Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewelry, Watches, Wine and Spirits, and Design, as well as collectible cars and real estate. Sotheby’s believes in the transformative power of art and culture and is committed to making our industries more inclusive, sustainable and collaborative.

THE ROLE

The Chief Accountant is responsible for managing the day-to-day accounting operations in Italy, ensuring compliance with Italian accounting standards, tax laws, and regulations. This role involves overseeing financial transactions, ensuring accurate reporting, managing tax filings, payroll processing, supplier invoicing, and maintaining overall compliance with local regulations. The Chief Accountant is accountable for overseeing all local financial processes, ensuring the proper execution of financial transactions, and maintaining compliance with both local tax authorities and internal policies.

RESPONSIBLITIES 

Financial Reporting & Compliance

• Record and manage documents related to monthly balance sheets, including accruals, prepayments, and taxes.
• Reconcile forecasts and plans in SEM, ensuring that all balance sheet accounts are correctly updated by year-end.
• Review balance sheet accounts at the end of the fiscal year to determine tax-deductible or non-deductible entries.

Tax Management & Fiscal Compliance

• Oversee withholding tax processing, ensuring correct payments and reconciliation for employees, temporary workers, and consultants.
• Ensure timely and accurate VAT reporting, including filing VAT returns annually and quarterly filings for specific reporting periods.
• Prepare and manage the 770 tax declaration and other local fiscal declarations as required by Italian tax law.
• Maintain fiscal registers, including the VAT register, document journal, and asset report.

Supplier & Invoice Management

• Record all supplier invoices in SAP, ensuring compliance with the purchase order (PO) form and VAT regulations.
• Verify VAT and amounts on invoices to ensure accuracy and compliance.
• Request and approve supplier payments, coordinating with the New York office for payment approvals and transfers.
• Backup CPC for entering POs during high-volume periods.
• Ensure the timely clearing of all supplier accounts at month-end, helping with PO control during busy periods.

Sales & Client Payments

• Support departments on the financial aspects of sales, helping clients with fiscal issues and contracts.
• Record and reconcile payments received from clients, as well as any manual payments made to consignors.
• Monitor and review client accounts quarterly to ensure that all balances are accurate and up-to-date.

Bank Reconciliation

• Perform daily and monthly bank reconciliations, ensuring accuracy and resolving discrepancies.
• Record all bank-related expenses, including wire transfers and tax payments.
• Verify GTC payments, handling issues with banks related to Anti-Money Laundering (AML) compliance.

Intercompany Transactions

• Record and verify intercompany transactions and ensure proper documentation for trading partners.
• Process buyer invoices and credit notes, including manual entries in Italy's tax system.
• Manage sundry invoices and ensure proper recording of self-invoices.

Audit Support & Legal Compliance

• Coordinate with external auditors for semi-annual audits, ensuring that all cost and revenue data is provided accurately.
• Collaborate with tax consultants for ongoing tax compliance and to assist with transfer pricing documentation.
• Maintain and update AML procedures and ensure adherence to local regulations.
• Support charity sales and manage fiscal compliance for special sales in Italy.

Payroll

• Prepare the payroll variables and liaise with the payroll provider on any updates
• Verify payslips and ensure proper registration of payroll in SAP.
• Coordinate payroll taxes and ensure compliance with Italian regulations.

Ad Hoc Financial Projects

• Assist with special financial projects such as changes in tax laws, financial system upgrades, and other ad-hoc requests.
• Provide support during times of heightened work demands, such as fiscal year-end and audits.

IDEAL EXPERIENCE & COMPETENCIES

Key Experience:

• 5–7 years of experience in accounting or finance roles with a wide range of responsibilities.
• Experience working within a local entity of a larger international group, operating in a hands-on and autonomous capacity.
• Proven track record in managing Italian tax and regulatory compliance, including VAT, withholding tax, and fiscal declarations (e.g., 770, LIPE).
• Familiarity with local payroll coordination, and experience liaising with external payroll consultants.
• Demonstrated ability to work independently and manage multiple accounting functions end-to-end.
• Experience in cross-functional collaboration with global finance, tax, and compliance teams.

Knowledge & Expertise:

• Strong understanding of Italian GAAP and tax laws, including payroll-related obligations and local filings.
• Working knowledge of fiscal processes and platforms, including electronic invoicing and local tax portals (e.g., Agenzia delle Entrate).
• Solid command of SAP or similar ERP systems, and strong Excel skills.
• Familiarity with international accounting standards (IFRS/GAAP) and their application in a local context.
• Understanding of internal control procedures and compliance requirements under Italian regulations, including AML and Law 231.

Skills & Competencies:

• Hands-on, self-sufficient, and proactive, able to manage both recurring operations and ad-hoc needs.
• Strong attention to detail and commitment to accuracy and compliance.
• Excellent communication skills, able to explain local matters clearly to non-local teams.
• Fluent in Italian, with professional proficiency in English.
• Able to prioritize and multitask in a deadline-driven environment.

Desirable:

• Experience in the auction, art, or luxury sectors is a plus.
• Familiarity with charity sale compliance, AML regulations, and transfer pricing documentation.
• Accounting certification (e.g., CPA, ACCA, or local Italian equivalent) is appreciated.

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The Company is an equal opportunity employer and considers all applicants for employment without regard to race (including, without limitation, traits historically associated with race, such as natural hair, hair texture, and protective and treated or untreated hairstyles), color, creed, religion, sex, sexual orientation, marital or civil partnership/union status, national origin, age, disability, pregnancy, genetic predisposition, genetic information, reproductive health decision, sexual orientation, gender identity or expression, alienage or citizenship status, domestic violence victim status, military or veteran status, or any other characteristic protected by federal, state/province or local law. The Company complies with applicable state and local laws prohibiting discrimination in employment in every jurisdiction in which it operates.