Senior Cost Accountant
Libertyville, IL 60453
As a Sr. Cost Accountant, you will perform and lead a variety of financial management and reporting responsibilities. Responsible for all accounting processes related to the facility month-end close process. Includes production order processing, inventory provisions, cost center allocations, accruals, and required reconciliations.
This is a dynamic hands-on position that allows you to influence and support different initiatives. You will be the lead finance contact at the plant level supported by a shared service accounting team.
Financial Management and Reporting
- Develop and maintain strong working relationships with Operations management to support the factory and be accountable for the overall success of the operations.
- Assist decision making at a plant level with regular and ad-hoc analyses.
- Collaborate with Operations management to develop key performance indicators and financial data and analysis required to accomplish the company’s objectives.
- Perform profitability and cost analyses for a variety of products
- Lead monthly financial reviews with the Controller, Director of Manufacturing, and Business VP
- Support process improvement initiatives and assist with cost saving plans.
- Prepare internal budgets and monitor actual results against budget.
- Respond timely to requests for ad hoc data analysis and explanations of significant variances.
- Analyze variances and provide direction to management on cost improvements
- Process freight invoices and investigate significant variances
- Perform root cause analysis on manufacturing variances and recommend solutions to reduce variability in the process
- Record inventory adjustments as required
- Assist and support the cycle count process
- Create and maintain product structure, standard cost files, labor and warehousing requirements.
- Develop cost estimates for new business including analysis and necessary follow-up.
- Analyze manufacturing variances throughout the month to better understand source of the issues.
- Partner with operations and engineers to develop controls or new processes to eliminate or reduce plant variances.
- Manage product costing in SAP and review standard costs on
- Review and reconcile production variances
- Monitor inventory costing, balance and movement.
- Ensures that purchase price variances are reviewed on a timely basis and corrective action is taken as necessary.
Month-end Close Responsibilities
- Maintain a best-in-class one day month-end close schedule
- Prepare month-end journal entries, analysis of accounts and reports, and assist controller as needed.
- Calculate and record the work-in-process inventory values at month-end
- Perform month-end cost allocation and maintain allocation rates in SAP
- Perform month-end account reconciliations in Blackline on a timely basis
- Execute the SAP material ledger process and month-end and adjust as needed
- Coordinates the cost center budgeting, facility cost allocations, capital budgeting and other facility cost related requirements necessary to develop the annual operating plans with management and corporate shared services.
- Lead the annual standard cost setting process and work with Operations manager to develop annual manufacturing plans that will be used to establish the labor rates and variable and fixed overhead rates.
External Audit Support
- Participates with the external an in testing of cycle count and inventory balances.
- Provides timely response to all prepared by client requests
- Supports the external audit testing of the material costs
PRINCIPAL MEASURES OF PERFORMANCE
- Meeting month-end deadlines, including a one-day month-end close.
- Accurate and timely recording of all journal entries and variance analysis
- Timely reconciliation of all account balances.
- Maintain professional relationships with Operations management team
- Integrity: accepting and adhering to high moral, ethical, and personal values in decisions, communications, actions and when dealing with others
- Five (5) to ten (10) years accounting experience and at least 5 years of cost accounting experience including period closing
- Ability to manage multiple priorities and generate results in a deadline-driven, fast paced environment
- Team player who can productively work independently
- Accounting experience in a manufacturing or industrial environment
- BA/S in Accounting; CPA preferred
- SAP Experience required
Meet Your Recruiter
Responsible for recruiting the CPS division that specializes in Accounting, Finance, Audit and Tax. CPS is a highly specialized, full cycle recruiting firm, placing top talent with the best companies. We've been in business since 1973 and over the years we've placed more than 40,000 of the best and brightest candidates with our clients.
If you are looking for a position in Accounting, Finance, Audit or Tax or if your company is looking for someone to provide you with good candidates for hire, please don't hesitate to contact me.