Needham, MA US
Searching for a Senior Cost Accountant to join the team with a primary focus on all costing, production, and inventory aspects of the business from the finance standpoint. These activities will include analyzing manufacturing and operational costs, oversight and compliance of inventory programs (i.e. cycle counts and physical inventories), identifying cost-saving opportunities and trend analysis of production variances such as work order variance, scrap, rework and labor utilization. This position will play a critical role in the financial management and analysis of the organization’s production and manufacturing costs and expenses.
• Prepare regular cost reports, cost of goods sold (COGS) analysis, and profitability reports for different product lines, departments, or projects as well as support any COGS and inventory variances.
• Analyze manufacturing costs, overhead expenses, and variances to identify areas of improvement and cost-saving opportunities.
• Monitor and control inventory valuation, including the evaluation of inventory adjustments, write-offs, and reserves.
• Conduct periodic physical inventory counts, cycle count audits and reconciliations to maintain accurate inventory records.
• Evaluate and update ABC codes and count frequencies.
• Analyze inventory turnover rates and make recommendations to optimize inventory levels.
• Analyze and calculate the obsolete and slow-moving inventory reserve.
• Assist in the development of the annual budget and monthly forecast, providing insights on cost drivers and potential cost fluctuations.
• Analyze month-end, month to date financial, historical business trends, and statistical data to understand the cost drivers for variances from budget/forecast/prior year and develop improvement plans with operations.
• Oversee the maintenance and improvement of the cost accounting system to ensure data accuracy and integrity.
• Implement and enhance cost accounting policies, procedures, and internal controls to comply with accounting standards and regulatory requirements.
• Collaborate with project managers to track and analyze project-specific costs, ensuring accurate project accounting and financial reporting.
• Serves as a business partner with operations to ensure continuous improvement via execution to plan for direct material productivity, labor productivity, and working capital productivity (inventory and accounts payable).
• Support, and at times lead, continuous improvement initiatives in the business for Operations and Finance.
• Bachelor’s degree in Accounting, Finance, or related field preferred or equivalent work experience. MBA a plus
• 5+ years of progressive experience in cost accounting required with 2 years preferably within a manufacturing or production-oriented industry.
• Strong understanding of cost accounting principles, inventory management and variance analysis.
• Proficiency in financial analysis concepts and practices.
• Advanced skill in Microsoft Excel for data analysis and financial modeling
• Capable of researching, retrieving, organizing, and summarizing data sets needed for financial reporting and various ad-hoc analysis.
• Strong attention to detail and accuracy in financial reporting.
• Desire to lead and hold him/ herself accountable.
• Strong interpersonal, written, and oral communication skills.
• Ability to work collaboratively with various business partners.
• Ability to manage multiple tasks simultaneously and meet required deadlines.
• Experience with ERP and financial systems