SUMMARY
The Manager, Cost Accounting is an integral part of a growing finance and accounting team supporting all aspects of commercial manufacturing. This position currently reports directly to the Head of Finance & Accounting, Americas. The Manager, Cost Accounting will routinely partner with various levels within the organization across multiple functions ensuring proper alignment with policies and controls for technical accounting policies, in accordance with US GAAP and IFRS (international financial reporting standards).
This position is a unique opportunity with a fast growth company poised to grow in size and complexity. The role will be primarily responsible to provide commercial accounting support and will routinely collaborate with the manufacturing teams locally and finance teams internationally to provide costing information from materials to finished goods. Additionally, this position is responsible for managing and improving the related month-end close processes including the accurate and timely reporting of financial results and inventory. While the position is not immediately a manager of people, we are looking for someone who is ready to be a leader beyond direct reports and a champion of collaboration between plan operations and finance.
The ideal candidate is someone who takes initiative, enjoys fixing things, and isn’t afraid of a challenge. They’ll be an experienced, detail oriented hands-on cost accountant with strong systems, data, and analytical skills who knows how to work cross functionally to deliver solutions to complex problems.
JOB FUNCTIONS
Essential job functions:
Costing of Products
- Collaborate with general ledger team to ensure all financial reporting deadlines are met
- Calculation of costs per product for setting of standards, including analysis of risks around cost assumptions
- Collection of actual costs data for monitoring of actual performance against standards
- Process order selections and complete orders
- Change control cost analysis, cost estimates and price update with cost estimate
- Collaborate with manufacturing and research and development teams to cost product changes and private label items
Inventory Reporting
- Support the valuation of inventory including the inventory standards, physical counts, and provisions required
- Perform cost accounting activities including excess & obsolete reserves, scrap analysis, inventory variance reviews, and analysis and reporting of inventory and COGS
- Review Purchase Price Variances
- Release blocked inventory items
- Check all standards in the system
- Audit material pricing in the ERP system
- Investigate and resolve standard cost variances, and various other financial analysis related to manufacturing costs, inventory, and expense information to support decision makers
Month End Processes
- Close all process orders
- Open and close all accounting periods in ERP system
- Calculate and close month end WIP
- Labor and overhead recovery analysis
- Calculate reserve for expired and obsolete
- Prepare supporting analytical information for sales and cost of sales
- Prepare/review cost associated journal entries on a monthly basis
- Leand monthly close of inventory transactions and quarterly excess and obsolete inventory review process
- Manage expense tracking reports and hold monthly business reviews with operational leaders
- Reporting of variances including causes on major variances against standards
- Publish standardized monthly reporting related to factory performance metrics, inventory positions, and draft periodic ad-hoc reports specifying factors affecting prices and profitability of products or services
- Collaborates with GL accounting team regarding integration and accounting of new distribution channels
- Create Budget vs Actual analysis for the business unit heads
Budget Process
- Assist and drive budget process with the Head of Finance & Accounting
- Creation of standard costs, including material, labor, and overhead
- Create and distribute budget templates for consolidation in Masterfile
- Calculate and enter labor, machine, and fixed overhead rates for new fiscal year
- Update standard costs for intercompany price lists
- Update Private Label interactive cost sheet
Costing for RFQ (Deal Desk)
- Prepares costing analysis and risk analysis for new product development (NPD)
- Prepares costing analysis and risk analysis for Contract Development Manufacturing Opportunities
- Prepares costing analysis and risk analysis for Custom Formulations
- Prepares costing analysis and risk analysis for large private label inquiries
- Specifies and compares factors affecting pricing and profitability of product (request)
Controls for Operations
- Walks the plant in partnership with operations and production teams
- Establish internal control systems to prevent inaccuracies in financial statements
- Support process improvements in the accounting and reporting of inventory and related COGS
- Collaborates with Commercial Manufacturing, Technical Operations, Supply Chain and other cross-functional departments to ensure completeness and accuracy of cost of goods sold (COGS), operating expenses, and inventory balances
- Creates and maintains standard costs of inventory in the local ERP system (raw materials, packaging, and WIP) and routinely work with materials specifications team to analyze changes in production materials or methods to determine effects on costs using detailed BOMs and routings containing time requirements and resource rates. Conduct mass updates as needed and when approved by the executive team
- Develop and document policies and procedures including system requirements and internal controls. Ensure validity and accuracy of ERP through analysis, audit, and coordination with other internal teams. Work closely with IT teams to identify and resolve system related issues
- Collaborates across factory management teams, product, logistics, and MIDAs functions to identify and record financial exposure related to slow moving or obsolete inventory, develop accounting flows for new business models, and create models as a basis for forward looking plans and forecasts (including ROI analysis for capital investments and validation of cost improvement projects)
Secondary job duties:
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
Education:
- BA/BS in accounting or other Finance related field
- CPA or CMA desired but not required
Experience:
- 5 years of experience, including prior supervisory experience, in the financial reporting/general ledger area
- Cost accounting experience in manufacturing desired
- Food, Supplements, and Nutraceuticals a plus
Skills & abilities:
- Has deep supply chain costing experience and expertise
- Must be comfortable with complex accounting matters and demonstrate competency in US GAAP as well as IFRS, current accounting regulations and internal controls
- Background with international subsidiaries and supply channels
- Strong communication (oral and written) and relationship building skills
- Excellent analytic skills and the ability to collaborate with a multi-department team
- Strong interpersonal, supervisory, and customer service skills required
- Experience and willingness to make process and systems improvement to reduce manual processes to provide value added services to management team
- Works will in multi-division environment providing required information on time and with quality
- Strong internal control knowledge and ability to direct the organization in the proper accounting treatment of transactions
Computer skills:
- Experience with an ERP
- Strong Office Suite skills particularly with Excel (Lookups, Pivot Tables, Data Filtering)
OTHER INFORMATION
Supervisory Responsibilities:
- None currently, but as team expands this role will have direct reports
Work Environment:
This job operates in a professional office environment which is temperature controlled and in a manufacturing environment where there is varying temperatures and dust. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
Requires ability to work in an environment that contains fumes, dust, odors, low level noise and temperature and ventilation variations while wearing appropriate safety and/or protective clean room apparel (e.g., safety glasses, shoe covers, gloves, hair net, face mask and lab coat).
Physical Demands:
- Ability to sit up to 6 hours per day
- Ability to stand, walk, move up to 4 hours per day
Travel:
BENEFITS
Salary: $85K-$100K annually
- 401(k)
- 401(k) Matching
- Health Insurance
- Health Savings Account
- Dental Insurance
- Vision Insurance
- Tuition Reimbursement
- Paid Time Off