What are the responsibilities and job description for the Business Unit Controller position at ITW?
Company Description
E. H. Wachs, an Illinois Tool Works Company, is a recognized world leader in the manufacture and distribution of field machining and valve exercising equipment. www.ehwachs.com.
ITW (NYSE: ITW) is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $14.5 billion in 2021. The company’s seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW’s approximately 45,000 dedicated colleagues around the world thrive in the company’s decentralized and entrepreneurial culture. www.itw.com.
Job Description
The Business Unit Controller will report directly to the General Manager and serve as a key leadership team member of the E.H. Wachs and Wachs Canada business units. This position will be responsible for all aspects of the accounting and IT functions and financial reporting for the business unit, including applying all ITW principles and internal controls, and leading development of strategic financial plans for Long Range Plan and Annual Plan. This position will be based in Lincolnshire, IL.
Essential Job Functions:
- Ensure accuracy of financial records and integrity of data by supervising top 13 internal controls and compliance to ITW's policies and GAAP.
- Lead financial planning activities related to Annual Plan and Long Range Plan.
- Partner with leadership on all operational and strategic issues as they arise; provide strategic recommendations based on financial analysis and projections.
- Provide leadership and oversight to accounting and IT team through goal-setting, performance management and day -to-day coaching and development.
- Manage all monthly, quarterly, and year-end financial closing processes effectively and efficiently.
- Drive accurate outlooking by gathering information from management, sales, and production and provide variance analysis vs. prior outlook, plan and prior year.
- Manage all financial aspects of the inventory including inventory reconciliation, physical inventory, slow & obsolete reporting and inventory management. Measure, monitor and analyze inventory trends, and drive improvement.
- Prepare/review monthly journal entries and account reconciliations for specified general ledger accounts including inventory, various balance sheet accounts, intercompany transfers, and cash accounts.
- Manage day-to-day accounting functions including accounts receivable, accounts payable, reconciliations, expense approval and reporting, capital justification, and fixed assets monitoring.
- Monitor and work with other departments relating to shipments and invoicing.
Qualifications
- Bachelor’s Degree in Accounting or Finance and 7 years relevant experience; CPA strongly preferred
- Detail oriented with strong problem solving, analytical and organizational skills
- Analytical, inquisitive and crisp in explaining the story behind the numbers. Strong ability to understand macro and micro trends and quickly discern inaccuracies
- Demonstrated ability to communicate (verbal/written) effectively with customers, suppliers and all employees as well as an ability to develop positive and productive peer relationships
- Highly adaptable with the ability to quickly learn and understand multiple jobs functions
- Proficiency with diverse computer software systems, especially MS Excel is required
- Aggressive self-starter with the ability to work independently on projects with little direction
- Up to 10% travel required.
Additional Information
All your information will be kept confidential according to EEO guidelines.
ITW is an equal opportunity employer. We value our colleagues’ unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential.
As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship.
All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.
