Cost Accountant

IMI Plc - Legacy Precision•Farmington, CT

5h•Hybrid

About The Position

At IMI, we’re not just creating solutions; we’re building careers. So, unlock your potential: do work that matters, grow with us, and be part of a team shaping tomorrow. Here, you can make a real difference – solving complex engineering challenges that make industries smarter, safer and more sustainable. From the energy that powers homes to the systems that keep the world moving, you’ll help create solutions the world depends on. But it’s not just about the work – it’s about how you grow. We encourage curiosity, make learning part of everyday life, and give you real opportunities to build new skills and move your career forward. We believe in nurturing your wellbeing, too, with strong benefits and flexible policies that help you succeed. At IMI, you’ll find a supportive, collaborative and inclusive environment where you can truly thrive. Role Overview: The Cost Accountant serves as a strategic finance partner to Operations, Supply Chain, and Commercial teams, delivering accurate, data-driven manufacturing cost insights to support tactical and long-term decision-making. This role owns cost integrity and forecast accuracy for the Farmington, CT manufacturing facility and is responsible for translating complex operational and financial data into actionable recommendations that drive profitability, efficiency, and performance improvement. The ideal candidate is highly analytical, detail-oriented, and capable of leveraging financial and operational data to identify trends, quantify risks, model scenarios, and influence cross-functional decision-making. Work Environment: Onsite M-F with Remote Flexibility

Requirements

Bachelor’s degree in Accounting, Finance, or related field.
Minimum of 5 years of progressive experience in manufacturing cost accounting and/or public accounting.
Demonstrated experience in large, global organizations with a track record of improving forecast accuracy and financial transparency.
Advanced analytical and financial modeling skills with the ability to synthesize large data sets into actionable insights.
Strong expertise in standard costing, variance analysis, inventory accounting, and cost allocation methodologies.
Deep understanding of GAAP, manufacturing finance, supply chain economics, and operational performance metrics.
Proven ability to design and improve financial processes in a matrixed, global environment.
Proficiency in ERP/MRP systems (JD Edwards preferred).
Advanced Excel skills (modeling, pivot tables, data analysis functions); proficiency in PowerPoint and other Microsoft Office tools.
Experience leveraging ERP and financial systems data to drive analysis and reporting improvements.

Nice To Haves

Formal accounting qualification (CPA, CMA, or equivalent) preferred, with evidence of ongoing professional development.

Responsibilities

Drive accuracy of Bills of Materials (BOMs), routings, labor standards, and overhead allocations to ensure reliable product costing.
Evaluate and validate overhead and indirect labor absorption methodologies to ensure appropriate cost recovery.
Conduct periodic cost audits to identify discrepancies and recommend corrective actions.
Lead the annual cost roll process, including validation of labor and overhead rate updates.
Process cost updates within the ERP system and assess financial impact on inventory valuation, balance sheet, and P&L.
Quantify revaluation impacts and clearly communicate financial implications to leadership.
Develop, manage, and continuously improve plant-level cost forecasts using data-driven methodologies.
Build scenario models to simulate the impact of changes in volume, mix, pricing, and input costs on profitability.
Monitor key performance indicators (KPIs) to ensure financial objectives are met and risks are proactively identified.
Perform detailed monthly variance analysis (standard vs. actual), including gross margin and absorption analysis.
Identify root causes of cost variances and provide fact-based recommendations to improve margin performance.
Present clear, data-supported insights to management to support corrective actions.
Analyze material cost fluctuations and purchase price variance (PPV).
Partner with Supply Chain and Sales to mitigate inflationary pressures through pricing strategies, sourcing improvements, or cost optimization initiatives.
Lead finance activities related to annual physical inventory counts.
Partner with Operations and Supply Chain to improve cycle count accuracy and strengthen internal controls, with the long-term objective of eliminating reliance on annual full counts.
Own quarterly Excess & Obsolete (E&O) reserve calculations and proactively drive initiatives to reduce exposure.
Partner with Quality and Operations to analyze scrap, yield, and efficiency data to support cost reduction initiatives.
Evaluate financial impact of process improvements, automation, lean initiatives, and capital investments.
Conduct financial analysis for capital expenditure proposals, including ROI and payback modeling.
Deliver clear, concise monthly and ad hoc financial reports highlighting key cost drivers, risks, and product-level profitability actions.
Collaborate extensively with Manufacturing, Engineering, Supply Chain, Sales, and Business Development to align financial insights with operational execution.
Translate complex data into meaningful business narratives that inform strategic decisions.

Benefits

Multiple health plans to choose from: HMO, PPO, and High Deductible Health Plans with a low-cost share
Best-in-class 401K plan with zero vesting and up to 6% contribution matching
14-week maternity leave at full pay (Adoption benefits are equivalent)
4-week paternity leave at full pay (Adoption benefits are equivalent)
Employee Resource Groups that offer community and support, like our Pride Network and Network of Women groups
PTO, encompassing inclusive holidays
Career Development opportunities (IMI’s ‘Catalyst’ Program)
Employer contribution for Health Savings Account, and in many cases free virtual telemedicine, and teletherapy.
Mental Health and wellness programs to support you and your family
Full suite of voluntary benefits to tap into, including but not limited to: Critical illness insurance, hospital indemnity, legal insurance, identity theft protection, and pet insurance or home & auto insurance through our discount advantage platform
Short & long-term disability as well as basic life insurance at 2x your basic salary at no cost to the employee
Free financial advisors, webinars, and classes through Charles Schwab
Annual Employee Stock Purchase Plan with option to purchase IMI shares at a reduced employee only price - no opportunity to lose, only to profit or refund your investment 100%