Manager, Inventory & Cost Accounting

MP Materials Corp.•Fort Worth, TX

About The Position

The Manager, Inventory & Cost Accounting, is part of the Company’s 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 partners with facility operations and corporate accounting, costing, and finance teams to support consistent application of policies, procedures, controls, and reporting standards. The position works with corporate operational accounting, operations, IT, the Plant Controller, and FP&A on 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. A key focus is 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 position may support future organizational growth at the magnetics facility.

Requirements

Bachelor’s degree in Accounting, Finance, or a related field.
At least 5 years of progressive inventory and cost accounting experience, preferably in manufacturing or distribution.
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, in 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, results-driven approach and 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 in SAP for completeness and accuracy.
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 necessary changes, including purchase price and other cost-related variances.
Review and approve magnetics-related monthly journal entries prepared by corporate Cost and Inventory Accountants.
Analyze monthly under- and over-absorption by department against established standards.
Conduct quarterly analyses of actual costs and activity rates to determine whether standard cost rates need updating.
Support inventory valuation and ensure inventory is accurately and consistently valued under Company policies and U.S. GAAP.
Identify process improvements within a controlled Sarbanes-Oxley environment.
Recommend and maintain internal controls and financial procedures that support SOX compliance.
Maintain Company compliance and reporting standards.
Support internal and external audits by preparing documentation and analysis.
Implement 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 SAP setup and implementation for additional departments and companies related to production, new products, and customers.
Support Company initiatives through design, development, and reporting requests.
Assist FP&A with monthly cost-of-goods-sold analysis against forecast.
Improve accuracy and efficiency across growing production and manufacturing processes.
Partner with corporate inventory and cost accounting, operations, IT, the Plant Controller, FP&A, and other stakeholders to support accurate inventory valuation, production reporting, and effective process execution at the Texas magnetics facility.
Assist the Corporate Inventory & Cost Accounting Manager in mentoring the corporate team of Inventory and Cost Accountants.
Perform other duties as assigned.