Cost Accounting Manager

IDEAL Industries, Inc.•Sycamore, IL

4d•$86,985 - $116,995

About The Position

IDEAL INDUSTRIES, INC. has built a reputation for over a century by crafting iconic tools and practical technology required in aerospace, data communications, electrical, wire processing and construction. The global family of IDEAL brands includes IDEAL Electrical, Anderson Power, and Enatel. A vibrant and dynamic company, IDEAL is best known for our wire connectors, the gold standard for making electrical connections around the world. Nearly every commercial jet is assembled using IDEAL wire strippers and, as part of the critical equipment on NASA missions, our tools even help NASA astronauts fly to the moon. Most important, our products benefit skilled tradespeople, who reach for IDEAL tools every day. IDEAL is propelled by the concept of Building an IDEAL World. Our family-run business is committed to building ideal relationships with customers, employees, and communities by crafting some of our industry’s most innovative and trusted tools. Reporting to the Plant Controller, the Cost Accounting Manager will understand the details associated with inventory, cost of sales, and production variances. This role is responsible for providing critical operational and financial support to the manufacturing plant and for supporting day-to-day business partnering with the operations team. This role will also support network-wide control and analysis objectives while driving best-in-class improvements in process and analytical capabilities.

Requirements

Bachelor’s degree in finance or accounting
Minimum of 5+ years of progressive experience ideally with supply chain or plant finance experience
Demonstrated experience in manufacturing cost accounting, inventory control, financial reporting and analysis
Advanced proficiency in MS Office, primarily Excel & Power Point.
Strong communication, written, oral and interpersonal skills are required.
Demonstrated leadership and drive for results through effective collaboration
Strong analytical, problem-solving, and financial modeling skills
Proven track record of driving change and process improvements
Ability to manage multiple priorities with a sense of urgency
Must be a self-starter capable of adapting to change and comfortable in a fast-paced work environment

Nice To Haves

CPA certification or license is desirable
Experience implementing and working with information technology and ERP systems preferer
Experience with ERP accounting systems, Microsoft D365 or NAV

Responsibilities

Build strong interpersonal relationships with the plant management team, provide strategic business support, maximize plant profit, efficiencies and eliminate waste.
Take ownership of assigned general ledger accounts, including the accurate and timely recording of journal entries into the general ledger for the month-end financial close.
Aid the plant controller in preparation of financial reporting of inventory, cost of sales, and production variances.
Prepare, review and distribute weekly, monthly, quarterly and annual financial, operating and executive reports
Prepare balance sheet reconciliations and proper supporting documentation, including month-end adjusting entries.
Aid in preparation of monthly inventory reporting package.
Aid in analysis and reporting on Inventory Variations, and Slow Moving and Obsolete Inventory (SLOB) based on corporate policy.
Tracking and reporting of cycle counts and full physical inventory counts and reconciliations.
Ensure that all inventory is counted in accordance with policy, and that physical inventory count exemption request support is prepared and submitted in a timely manner.
Assist with analysis of monthly results and proactively seek and suggest opportunities for continuous improvement.
Identify financial status by comparing and analyzing actual results with plans and forecasts; monitoring variances; identifying trends; recommending actions to management.
Resolve price and quantity variances to capture correct costs.
Assist with maintenance of general ledger accounts and analyses.
Report on intercompany profit in inventory.
Actively engage in responsibilities and initiatives to ensure a safe work environment.
Comply with and contribute to the continuous improvement of company policies, processes and procedures.
Assist with calculation, communication, and maintenance of transfer pricing for all parts sold intercompany to each intercompany partner.
Support the annual internal/external audit processes
Support annual budget process (plant cost factor, labor/overhead)
Establish and adhere to proper internal control policies.
Contribute to a collaborative, team-oriented workplace, which may include other duties as assigned.