Director of Cost Accounting and Manufacturing Finance

Designs for Health is an industry-leading and rapidly growing manufacturer and distributor of nutritional supplements offered primarily through health care practitioners. By providing comprehensive support through our extensive product line, ongoing clinical education, and practice development programs, Designs for Health helps practitioners realize successful health outcomes for their patients. The company has two manufacturing plants and four distribution centers in the United States and its products are distributed in five continents.

Position Overview

The Director of Cost Accounting and Manufacturing Finance reports directly to the Chief Financial Officer and plays a crucial role in overseeing and optimizing the company’s cost accounting and manufacturing processes. This person in this role is responsible for developing and maintaining a robust system of standard costs, implementing controls over manufacturing processes and systems, partnering with Operations management to identify opportunities for cost savings and improved efficiency, and ensuring accurate and timely financial reporting related to manufacturing operations.

Essential Job Duties

Cost Accounting

• Develop and manage a comprehensive system of standard costs for raw materials, labor, and overhead, across the entire product suite.
• Collaborate with cross-functional teams to gather relevant financial data and ensure accurate cost allocation and pricing strategies.
• Conduct regular cost analyses to identify and quantify variances, measure production efficiency, assess trends, and provide insights for cost optimization.
• Conduct annual review of standard cost assumptions across all products, including detailed review of batch sizes, run times, and capacity, and making adjustments where appropriate.
• Assess inventory for excess and obsolete quantities and maintain appropriate reserves.

Manufacturing and Distribution Controls

• Implement and enhance internal controls over manufacturing and distribution processes to safeguard company assets and ensure compliance with regulatory requirements.
• Work closely with the operations team to identify and address operational inefficiencies and cost drivers.
• Establish and monitor key performance indicators (KPIs) related to manufacturing and distribution efficiency and cost-effectiveness.
• Partner with the Planning and Purchasing teams and provide oversight for Material Resource Planning and raw material purchasing activity.
• Establish guidelines and coverage expectations for inventory cycle counting program. Oversee the execution of cycle counts to ensure adherence to these guidelines.
• Oversee execution of annual physical counts for all classes of inventory.
• Analyze root cause for material book-to-physical differences and make recommendations for improvement.

Financial Reporting

• Oversee the preparation of accurate and timely financial reports related to manufacturing and distribution activities.
• Lead month-end close process related to manufacturing and distribution activities, ensuring that all activity is accurately reflected in the proper accounting period, in accordance with US GAAP.
• Oversee reconciliation of all balance sheet accounts related to manufacturing and distribution activities, including but not limited to inventory, vendor payables (including unbilled receipts), and accrued expenses.
• Calculate monthly quantification of capitalized variances and maintain detailed reconciliation of capitalized variance inventory asset.
• Develop insightful monthly reports of all variances (manufacturing, purchase price, material usage, etc) and share with Operations management
• Support year-end audit by responding to inquiries concerning assigned areas and providing requested supporting documentation. Assist in the resolution of audit findings.

Other

• Continuously identify opportunities for process improvement within the manufacturing and distribution functions and implement best practices to improve efficiency and reduce costs.
• Assist Operations management with the prioritization of capital expenditure projects; deliver ROI calculations in support of proposed capex and track performance after completion fo capital expenditures.
• Support the development of annual budgets and periodic forecasts.
• Provide guidance and mentorship to junior members of the finance team.
• Up to 30% Travel 

Qualifications

• Bachelor's degree in Accounting, Finance, or a related field; CPA or CMA designation is a plus.
• Minimum of 8 years of progressive experience in cost accounting in a manufacturing environment, with at least 3 years in a leadership role.
• Strong understanding of manufacturing processes and cost structures.
• Proven experience in developing and managing standard cost systems.
• Excellent analytical and problem-solving skills.
• Solid knowledge of accounting principles and regulations.
• Exceptional communication and interpersonal skills.
• Proficient in accounting software and Microsoft Excel.
• Detail-oriented with a high level of accuracy.
• Ability to work independently and collaboratively in a fast-paced environment.

Privacy

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Our Commitment to Diversity, Inclusion & Belonging
Designs for Health is an equal opportunity employer. We welcome diversity and are committed to creating an inclusive environment where all employees can grow and thrive. Our employees form meaningful and often life-long connections while working at Designs for Health. We are all passionate about our mission of designing a well world, together.