Staff Accountant

Company Description

Illinois Tool Works Inc. (NYSE: ITW) is a global Fortune 200 diversified manufacturing company that delivers specialized expertise, innovative thinking, and value-added products to meet critical customer needs in a variety of industries.   ITW, with approximately 14.1 billion dollars in global revenues, operates 7 major segments with businesses in 57 countries that employ approximately 45,000 women and men. These talented individuals, many of whom have specialized engineering or scientific expertise, contribute to our global leadership in innovation. We are proud of our broad portfolio of more than 16,000 active patents. 

StampTech Fasteners TM Division Description:

The ITW StampTech Fastener TM Division serves the major OEMs and Tier suppliers in the North American automotive market.  The division supplies stamped metal fasteners and engineered fastener assemblies that leverage our deep-draw stamping technologies.  The annual revenue for the division is approximately $160M.  Locations include Gallatin, TN, Lexington, KY & Naugatuck, CT.  

The Division drives profitability by leveraging its innovative solutions and application engineering.  In addition to ITW’s industry leading research and development capabilities, StampTech Fasteners TM enhances our customers’ competitive advantage by maintaining advanced engineering and manufacturing facilities in North America, exchanging product, process, and benchmarking information with sister units worldwide and continually improving processes, material, and designs to ensure every product provides value and meets customer expectations.

Job Description

The Staff Accountant is mainly responsible for managing the accounts receivable ledger, timely analysis and recording of cash transactions, reviewing aged balances, and working with the customers and internal teams to investigate and resolve payment discrepancies. This position is responsible for reconciliation of sales, accounts receivable, cash receipts, debits / credits, will take an active role in month-end closing, and maintain the current assets section of the balance sheet.

The successful candidate will need to be proficient in Microsoft Office applications, particularly in Excel, time management skills, and critical thinking skills. An ideal candidate must have a good understanding of collections, cash receipts, the accounting process, and sales and use tax.

Essential Job Duties & Responsibilities

• Monitors bank accounts and performs cash application.
• Identify, Investigate, and resolve discrepancies.  Ensure compliance with policies and standards.
• Prepares reports related to accounts receivable for management.
• Performs reconciliations including sales, accounts receivable, cash receipts and credits.
• Accurately prepare and submit monthly Journal Entries.
• Keep track of accurate accrual and prepaid schedule.
• Perform the month-end closing process based on the month-end closing check list.
• Continually monitors customer aging for overdue amounts and DSO to ITW guidelines.
• Performs debit / credit memos in support of customer price changes.
• Sales analysis and reporting based on actual ship history, customer releases and Saphran estimates based on IHS data – in coordination with the Commercial Team.
• Monitors and records scrap metal income.
• Support intercompany netting process
• Support physical inventory.
• Maintain electronic and physical records in an orderly fashion in compliance with ITW Record Retention Policies.
• Communicate professionally with peers, customers, and suppliers.
• Expected to work in a cross functional team environment.
• Update work instructions as necessary.
• Working knowledge of sales and use tax.  Review transactions for compliance with Connecticut and Tennessee laws and record our liability accordingly.
• Attend ITW required training including (but not limited) to safety training, policy training and other training activities.
• Review and investigate the AR Aging report for unusual or aged transactions.  Work with internal peers and our business partners to solve.  Identify recurring themes and suggest and implement corrective actions.
• Cross train with other team members.
• Continuous improvement using ITW toolbox principles
• Ability to work with minimal supervision and demonstrate critical thinking skills.
• Performs assignments in accordance with ITW policies and procedures and generally accepted accounting standards.
• Maintain good housekeeping standards.
• Follow all rules, regulations, and work processes set forth by the company.
• Maintain a safe working environment.
• Other duties as deemed necessary to meet the needs of the business or assigned by the Manager.

Qualifications

Minimum Requirements

• 2 years college plus 1-2 years of experience in an accounting role; OR H.S. Diploma / GED and 3 year’s demonstrated experience. 
• Working knowledge of accounting principles and applications.
• Proficient in Word, Outlook, Suite, PowerPoint, IT applications and general office equipment.
• Intermediate user in Excel applications.
• Detail-oriented, well organized, self-motivated with ability to multi-task.
• Understanding and maintaining confidentiality.
• Ability to read, analyze, and interpret common financial reports.
• Excellent communication skills (oral/written) and the ability to interact effectively with all levels within the company, suppliers, and customers.
• Ability to maintain office core hours. Some overtime as required.
• Excellent research, problem solving and interpersonal communication skills.

Working Conditions /Physical Requirements

• Office environment. Primarily sitting with optional standing and walking.
• Ability to lift approximately 40 lbs.
• Use of computer monitor, keyboard and mouse.
• Low degree of danger or hazard associated with job.
• Able to wear appropriate PPE (safety toed shoes, safety glasses, earplugs or any other required PPE) when in specified areas of the facility.
• Ability to maintain regular attendance, showing up at the designated start time, and working during normal business operating hours. Some overtime may be required to fit business needs.

Additional Information

ITW Culture & Leadership Expectations:

• Exemplify and embody the ITW Leadership expectations  
• Able to thrive and collaborate in a decentralized and entrepreneurial culture 
• Able to take a high level of accountability and ownership for personal and company performance
• Able to communicate both verbal and written with clarity and simplicity
• Exemplifies a strategic-thinking approach and process to product management
• Able to make decisions and use critical thinking and analytical approaches when weighing options

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. 

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.