Job Summary:
We are seeking a highly experienced and dynamic CMA with 8 years of experience to join our Costing team. The ideal candidate will have a deep understanding of cost accounting principles and supply chain management, as well as extensive experience in financial planning and analysis. In this role, you will be responsible for managing and developing cost accounting processes, preparing financial reports and analysis, and providing strategic insights and recommendations to support business decisions. You will also provide support for audits and ensure compliance with regulatory requirements, as well as mentor and coach junior team members. The successful candidate will have excellent leadership and project management skills, strong attention to detail, and the ability to communicate complex financial concepts to non-financial stakeholders. This is an exciting opportunity to lead critical projects and initiatives and make a significant impact on our organization’s success.
Key Responsibilities:
- Oversee the inventory management process, including setting and updating standard costs, performing cycle counts, and reconciling inventory discrepancies
- Analyze PPV and other inventory-related variances and recommend corrective actions
- Ensure compliance with SOX and other regulatory requirements, including supporting internal and external audits and and identify areas of non-compliance for remediation
- Update standard costs for all products and services and work with cross-functional teams to implement cost reduction initiatives
- Manage inventory at contract manufacturing sites and ensure compliance with purchase accounting standards
- Manage the freight and royalty accounting processes, including reviewing and posting accruals and reconciling accounts
- Lead the Annual Operating Plan process for inventory, including developing financial models, analyzing reports, and presenting results to management
- Ensure accurate calculation and reporting of OCOGS, including development and maintenance of standard cost rates and analysis of actual vs. standard costs.
- Collaborate with cross-functional teams to identify and implement opportunities to improve inventory productivity, OCOGS accuracy and reduce costs.
- Participate in the development of annual budgets and forecasts for inventory and cost of goods sold
- Perform absorption accounting for inventory and fixed assets, ensuring that costs are appropriately allocated and recorded in accordance with accounting standards and company policies. This includes reviewing variances and analyzing the impact of changes in production volumes, material costs, and labor rates on absorption rates
Requirements:
- CMA (Certified Management Accountant) qualification
- 8 years of experience in inventory management, supply chain, PPV analysis, absorption accounting, AOP, OCOGS, SOX compliance, reconciliations, month-end accounting process, standard cost updating, contract manufacturing inventory management, freight accounting, royalty accounting, lease accounting, and fixed asset management
- Strong understanding of cost accounting principles, financial reporting standards, and supply chain management.
- Excellent analytical and problem-solving skills
- Strong attention to detail and accuracy.
- Excellent communication and interpersonal skills
- Proactive and self-motivated with the ability to manage multiple priorities and meet deadlines
- Experience in financial planning and analysis would be an added advantage
Preferred Qualifications:
- Experience with ERP systems (SAP-FICO, MM, SD & PP Module)
- Experience in plant/supply chain finance with knowledge of cost accounting principles and inventory management is preferred.
- Experience in managing and leading teams
- Experience in a manufacturing or production environment
- Knowledge of GAAP and IFRS
- Experience with contract manufacturing inventory management
- Advanced Excel skills, including pivot tables, lookups, and macros
- Experience with project management methodologies.
- Familiarity with Six Sigma methodology.