Divisional Controller

Company Description

ITW Description:

Founded in 1912, Illinois Tool Works Inc. (NYSE: ITW) is a diversified, Fortune 200 manufacturing company that delivers specialized expertise, innovative thinking and value-added products to meet critical customer needs in a variety of industries. Ranked among Fortune’s Magazine’s most admired companies, the company focuses on solid growth, improving profitability and strong returns across its worldwide platforms and divisions. These divisions serve customers and markets around the globe, with a significant presence in developed as well as emerging markets. ITW’s revenues totaled $15.93 billion in 2022.

Division Description

ITW Dynatec, a division of Illinois Tool Works (NYSE: ITW), designs and manufactures a full range of industrial adhesive applications for the Packaging, Automotive, Disposable Hygiene and Specialty industries worldwide.  ITW Dynatec’s systems are used globally in the manufacturing of complex applications in a wide range of consumer and industrial products. The company’s state-of-the-art technology is backed by a Customer Centric worldwide network of industry-leading operations, customer service and support.  Our vision is to put hot melt adhesive exactly where our customers want it each time, every time, better than anyone else in the world. 

Job Description

Position Summary:

As a key member of the leadership team, the Divisional Controller partners with and reports to the Vice President/General Manager to develop and implement division strategy by evaluating and developing financial plans and economic modeling. He/She is responsible for leading and overseeing all fiduciary responsibilities for the Division to drive business results. The Division Controller ensures continuous search for simplification by maintaining knowledge of and the use of the Company Toolbox tools.

The position will be based out of Hendersonville, TN.

Qualifications

Essential Duties and Responsibilities:

Financial Reporting and Control

• Manage and control the financial activities, transactions, and resources (people and process) of the division.
• Manage Global Finance Team ( Hendersonville, TN; Mettman, Germany; Suzhou, China; and Tokyo, Japan)
• Ensure accurate and timely reporting of business financial information in compliance with ITW policies and GAAP.
• Identify when exceptions may be required to ITW stated policy and administer that request through Group Controller and Financial Reporting.
• Learn and apply the ITW Principles (80/20, Product Line Simplification, Market Rate of Demand, and In-Lining) to eliminate complexity and improve the profitability of the division.
• Plan, coordinate and administer the division’s accounting functions, including cost accounting, general accounting, inventory accounting, payroll accounting, accounts payable, accounts receivable, profit planning, earnings estimates, other forecasts, and special economic analysis.
• Consolidate accounting data and prepare reports necessary for leadership team to keep abreast of the financial status of the division and to identify potential problem or deficient areas.
• Effectively communicate and coordinate the exchange of financial information (plans, actual results, and outlook) to key stakeholders. Explain data to management to drive business decisions.

Strategic Planning

• Partner with VPGM and Division leadership on all operational and strategic issues as they arise; provide strategic recommendations based on financial analysis and projections, cost identification and allocation, and revenue/expense analysis.
• Partners with the leadership team to develop and execute Annual and Long Range Plans based on in-depth understanding of business and operations.
• Contribute to the vision and implementation of strategic plans, capital investments, acquisitions, restructuring projects, and critical ad-hoc opportunities.
• Build cross-department credibility, confidence, and collaboration with other functional areas within the Dynatec group.

Operating Analysis and Planning:

• Delivers short and long term forecasting.  
• Provide measurable and accurate financial targets to evaluate the financial performance of the business. 
• Evaluate projects that support additional investment or enhance the current development of assets and resources with the goal of improving the profitability of the company.
• Contribute to the Front-To-Back 80/20 process to help develop a vision and support implementation of strategic plans. 
• Use 80/20 thinking to continuously analyze processes and identify actions to reduce complexity in finance and manufacturing.
• Clear and Concise / Articulates Business Strategies and Performance
• Perform any other duties as assigned by the VPGM.

People Leadership and Talent Development:

• Develop and lead a global Finance professionals focused on profitable growth, improving customer satisfaction and simplifying business processes.
• Ensure ITW Toolbox and 80/20 culture is fully embedded within the team
• Identify, lead and develop talent in order to maximize individual, team and organizational effectiveness in meeting company goals. This may include: selecting and on-boarding talent; communicating effectively to foster a culture of engagement, cascading vision, creating goal alignment, and coaching through feedback, development planning and performance management.
• Use personal influence skills rather than position power to persuade others and gain support.
• Champion the effective use of change management principles, strategies and techniques to plan, implement and evaluate change.
• Builds a strong pipeline of talent to ensure a diverse high performing organization.
• Use appropriate interpersonal styles and techniques to gain acceptance of ideas and plans. Coaches through feedback, development planning and performance management
• Lead a change management process to build organizational capability to sell solutions using a consultative approach. 
• Identify, develop and monitor development plans for direct reports and high potential leaders. 
• Create an organizational structure with accountabilities to ensure a high functioning operational team and change talent when required. 

Job Requirements:

• BS/BA degree in Accounting or Finance related field required, preferably within a manufacturing organization. CPA and MBA are not required but is a plus
• 10 years of demonstrated experience in financial reporting and analysis, cost reduction, inventory control, tracking and managing costs against a budget, and tracking P&L results required.
• 4 years of experience in managing accounting teams or direct reports preferred.
• Demonstrated ability to be the business partner/advisor to the VPGM. Strong influence and collaboration skills.
• Experience in manufacturing environment, translating KPIs into immediate improvement actions, decreasing costs/increasing revenue.
• Partnering with leadership and influencing strategic initiatives.
• Demonstrated ability to remain objective and independent as a guardian of good business practices and controls while also able to troubleshoot and manage the risks inherent in growth initiatives that support division strategies.
• Strong IT knowledge with excellent computer skills (Microsoft and General Ledger applications).
• Experience implementing and working with information technology and ERP systems required.
• Working knowledge of manual and automated accounting systems.
• Customer centric, always bringing forth the Customer’s perspective.
• Ability to shift priorities, demands and timelines through analytical and problem-solving capabilities.
• Ability to partner with leadership and influence strategic initiatives.
• Travel Requirement – international travel <30%

Physical Requirements & Work Environment

The physical demands/work environment described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• While performing the duties of this job, the employee is exposed to a manufacturing environment including repetitive motion, bending, lifting, twisting, crouching, reaching, pushing and/or pulling.
• Ability to stand or walk for long periods of time
• Ability to perform repetitive motion type tasks regularly such as walking, typing, using fingers and hands. 
• Ability to regularly lift and/or move up to ten (10) pounds and rarely lift up to fifty (25) pounds.
• The ability to quickly move safety over uneven terrain
• The ability to wear personal protective gear (safety shoes, glasses, ear plugs, and gloves as needed)
• Ability to communicate with others to exchange information
• While performing the job functions of this position, the employee will have exposure to an environment near powered motor vehicles, power tools, and automated assembly fixtures.

Benefits

Take this opportunity to join a successful and enthusiastic global team where you can make a significant impact immediately. You will enjoy a competitive salary and a generous benefits package that includes health, dental, life, LTD insurance, 401k (with company match), employee assistance, wellness and 100% tuition reimbursement programs. ITW is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.

Additional Information

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.  

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.