Director, Inventory Accounting

Centric Brands•Greensboro, NC

9d•Hybrid

About The Position

The Director, Inventory Accounting is responsible for the overall leadership, integrity, and financial reporting of the Company's inventory accounting function. This role oversees inventory valuation, reserves, manufacturing accounting, inventory close, internal controls, and inventory-related financial analysis across the organization. The Director serves as a key business partner to Finance, Operations, Manufacturing, Supply Chain, Logistics, Treasury, and other cross-functional leaders to ensure accurate inventory reporting, effective controls, and sound financial decision-making. This role will lead a team of three direct reports and will drive process improvements, strengthen accounting policies and procedures, support the Company's audit requirements, and provide senior management with meaningful insights into inventory performance, risks, and opportunities.

Requirements

Bachelor's degree in Accounting, Finance, or a related field required; MBA or CPA preferred.
10+ years of progressive accounting or finance experience, including significant experience in inventory accounting, cost accounting, manufacturing accounting, or a related discipline.
5+ years of relevant inventory, cost, or manufacturing accounting experience preferred.
Manufacturing experience required; experience supporting multiple businesses, facilities, entities, or locations strongly preferred.
Demonstrated experience leading, developing, and managing accounting professionals, including direct people-management responsibility.
Strong knowledge of US GAAP, inventory accounting, cost accounting, inventory valuation, reserves, standard costing, purchase price variances, production overhead capitalization, and manufacturing accounting.
Strong understanding of SOX, internal controls, financial reporting requirements, and control environments.
Strong SAP experience required; SAP FICO experience preferred. Knowledge of SAP BPC is a plus.
Strong understanding of warehouse and manufacturing operations, inventory controls, physical inventory procedures, and inventory systems.
Advanced analytical and problem-solving skills, with the ability to interpret complex financial and operational data and translate findings into actionable recommendations.
Excellent written, verbal, communication, and executive presentation skills, with the ability to communicate effectively with both financial and non-financial stakeholders.
Demonstrated ability to influence cross-functional partners, lead complex initiatives, and drive sustainable process improvements.
Strong business acumen and the ability to balance accounting requirements with operational and commercial objectives.
Advanced Excel skills preferred; experience with financial reporting, data visualization, or business intelligence tools is a plus.
CPA preferred.

Nice To Haves

MBA or CPA preferred.
5+ years of relevant inventory, cost, or manufacturing accounting experience preferred.
experience supporting multiple businesses, facilities, entities, or locations strongly preferred.
SAP FICO experience preferred.
Knowledge of SAP BPC is a plus.
Advanced Excel skills preferred; experience with financial reporting, data visualization, or business intelligence tools is a plus.
CPA preferred.

Responsibilities

Own the Company's inventory accounting function and ensure accurate, timely, and compliant accounting and reporting of inventory across all businesses and locations.
Lead the monthly inventory close process, including inventory reconciliations, journal entries, KPI reporting, variance analysis, and management reporting.
Oversee preparation and review of monthly journal entries related to work in process, inventory adjustments, goods in transit, expense accruals, amortization, and other inventory-related activities.
Oversee inventory valuation for existing and new businesses and ensure appropriate accounting treatment in accordance with US GAAP and Company policies.
Direct inventory reserves analysis, production overhead capitalization, purchase price variance analysis, direct shipment programs, deferred revenue, intercompany sales activity, and gross profit review.
Monitor inventory accounting and related system reports for accuracy, completeness, and consistency.
Analyze and present key SAP FICO reports and inventory-related financial results to senior management, highlighting trends, risks, opportunities, and actionable recommendations.
Establish and maintain appropriate inventory accounting policies, procedures, and methodologies in accordance with US GAAP and Company policies.
Establish, maintain, and continuously improve a strong inventory control environment designed to protect the Company's assets and ensure the accuracy and completeness of financial reporting.
Oversee inventory-related SOX controls, including control design, execution, documentation, testing, and remediation.
Identify and assess inventory accounting and operational risks and develop appropriate mitigation strategies.
Oversee reconciliation of warehouse transfers and ensure timely investigation and resolution of discrepancies.
Maintain strong working knowledge of warehouse and manufacturing operations, including inventory transfers, cycle count adjustments, physical inventory procedures, and related system transactions.
Partner with Inventory Control to strengthen inventory accuracy, controls, and operational processes across the Company's businesses.
Collaborate with Treasury on borrowing-base requirements, inventory appraisals, field audits, and related inventory reporting.
Lead cross-functional partnerships with FP&A, Accounts Payable, Production, Operations, Logistics, Supply Chain, and Inventory Control to ensure accurate recording of inventory and related expenses.
Serve as a trusted financial partner to operational leaders, providing accounting guidance and financial insights to support business decisions.
Lead initiatives to improve inventory accuracy, reduce financial risk, strengthen controls, and improve working capital management.
Partner with business leaders on inventory-related initiatives, including new business launches, direct shipment programs, and other strategic projects.
Oversee processes related to purchase order modifications to ensure transactions are accurately executed, received, and closed.
Ensure operational processes and system transactions appropriately support accurate financial reporting.
Identify and lead opportunities to automate, standardize, and improve inventory accounting, reporting, reconciliation, and close processes.
Drive continuous improvement in inventory reporting, controls, and financial processes across the organization.
Partner with IT and business stakeholders to enhance SAP, BPC, and other systems supporting inventory accounting and reporting.
Establish and monitor meaningful KPIs to evaluate inventory accuracy, financial performance, operational effectiveness, and process health.
Lead process improvement initiatives that increase efficiency, strengthen controls, and improve the quality and timeliness of financial reporting.
Partner with the Senior Director of Accounting on financial statement audits and provide supporting schedules, analysis, documentation, and accounting conclusions as needed.
Serve as a key accounting contact for internal and external auditors on inventory-related matters.
Ensure inventory accounting and reporting processes comply with US GAAP, SOX, and Company policies.
Identify opportunities to improve accounting procedures and reporting and lead implementation of approved recommendations.
Ensure audit findings and control deficiencies are appropriately addressed and remediated.
Lead, develop, and mentor a team of three direct reports, establishing clear objectives, priorities, performance expectations, and accountability.
Build a high-performing inventory accounting team with strong technical accounting, analytical, and business partnering capabilities.
Provide ongoing coaching and development to team members and create opportunities for professional growth and expanded responsibilities.
Effectively allocate resources across monthly close, reporting, controls, audit support, and strategic initiatives.
Establish cross-training and succession plans to ensure continuity of critical inventory accounting processes.
Foster a culture of ownership, collaboration, continuous improvement, accountability, and operational excellence.
Establish departmental goals, objectives, policies, and operating procedures aligned with the Company's broader financial and operational objectives.
Perform other duties and special projects as assigned.