Manager, Inventory & Cost Accounting

MP Materials•Fort Worth, TX

About The Position

The Manager, Inventory & Cost Accounting, is part of MP Materials’ corporate operational accounting team and supports cost accounting, inventory valuation, and production reporting, primarily for the Texas magnetics facility and its related costing operations. The role works with facility operations and corporate accounting, costing, and finance teams to promote consistent application of company policies, procedures, controls, and reporting standards. Key partners include the operational accounting team, operations, IT, the Plant Controller, and FP&A. The position supports production reporting, standard costing, variance analysis, month-end close, and continuous improvement. It also helps develop, implement, and maintain inventory and costing systems, procedures, and policies as manufacturing operations expand. Particular attention is given to the Texas facility’s control environment and the identification, capture, review, and analysis of material and labor costs. There are currently no direct reports, though the role may support future organizational growth at the magnetics facility. The role also supports SAP costing functionality and reporting improvements, accurate and consistent inventory valuation under company policies and U.S. GAAP, SOX controls, and audit requests. It partners with corporate teams and facility stakeholders to improve the accuracy and efficiency of production and manufacturing processes.

Requirements

Bachelor’s degree in Accounting, Finance, or a related field.
At least 5 years of progressive experience in inventory and cost accounting, preferably in a manufacturing or distribution environment.
Strong theoretical and practical knowledge of cost accounting, standard costing, variance analysis, inventory control, and general accounting practices.
Strong knowledge of SAP ERP, particularly the FI/CO, MM, and PP modules.
Experience working in a SOX-controlled environment.
Strong attention to detail and excellent analytical, problem-solving, and communication skills.
Proficiency with Microsoft Office and applicable accounting and finance systems, including Excel and financial reporting tools.
Ability to occasionally walk extended distances, up to approximately one mile, within warehouse and production environments.
Ability to lift up to 20 pounds while performing inventory activities and collaborating with operations.

Nice To Haves

MBA, CPA, or CMA.
Strong leadership, people management, communication, and influencing skills.
Ability to manage, collaborate with, and influence key stakeholders.
Working knowledge of optimization techniques and process improvement initiatives.
Ability to connect business strategy to day-to-day operations and delivery.
Proven ability to drive results and accountability for business needs.
Verifiable record of career stability and successful project management.
Demonstrated decisiveness in resolving business problems, making decisions, and identifying priorities.
Proactive and results-driven approach with a continuous improvement mindset.
Ability to work independently and collaboratively in a fast-paced environment.

Responsibilities

Review daily and weekly cost of sales and production reports for completeness and accuracy in SAP.
Review and update cost standards to reflect material and labor price changes.
Review inventory accounts and inventory activity rollforwards.
Evaluate monthly activity rates and standard costing calculations for accurate month-end close reporting.
Monitor variance accounts, research discrepancies from standards, and determine required changes, including purchase price and other cost-related variances.
Review and approve magnetics-related monthly journal entries prepared by Cost and Inventory Accountants in the corporate office.
Analyze monthly under- and over-absorption by department against established standards.
Conduct quarterly reviews of actual costs and activity rates to determine whether standard cost rates need updating.
Support inventory valuation processes and ensure inventory is valued accurately and consistently in accordance with company policies and U.S. GAAP.
Identify opportunities to improve internal processes in a controlled Sarbanes-Oxley environment.
Recommend and maintain appropriate internal controls and financial procedures to support SOX compliance.
Maintain company compliance and reporting standards.
Support internal and external audits by preparing required documentation and analysis.
Implement new SAP costing functionality for expanding manufacturing departments and future operations.
Work with IT and Operations to improve the efficiency of production-data reporting into SAP.
Assist with setting up and implementing additional SAP departments and companies related to production, new products, and customers.
Support company initiatives through design, development, and reporting requests.
Assist FP&A with monthly analysis of cost of goods sold compared with forecast.
Improve accuracy and efficiency across growing production and manufacturing processes.
Partner with Corporate Inventory & Cost Accounting, operations, IT, the Plant Controller, FP&A, and other stakeholders to support accurate inventory valuation, production reporting, and effective execution for the Texas magnetics facility.
Assist the Corporate Inventory & Cost Accounting Manager with mentoring the corporate team of Inventory and Cost Accountants.
Perform other duties as assigned.