Manager, Cost Accounting

Job Title: Manager, Cost Accounting

FLSA Status:  Exempt

Department: Accounting

Reports to: Assistant Controller

GENERAL DESCRIPTION / PURPOSE:

Responsible for managing the organization, analysis, and reconciliation of Loram’s cost data including manufacturing, project, and inventory accounting for assigned companies and inventory sites. Manages the cost accounting month-end close process as well as supports annual audit responsibilities for consolidated US GAAP and assigned statutory subsidiary entity audits. Oversees cost accounting staff to ensure accurate, timely cost data processing and support to business partners. Supports annual assigned sites budgetary processes, partnering with business leaders to ensure understanding of cost data and methodologies.

ESSENTIAL JOB FUNCTIONS:

Operational Excellence

• Drives, maintains, and supports strong partnerships with manufacturing, supply chain, and project management teams to promote a collaborative understanding of Loram’s financial information. Assists manufacturing, supply chain, and project management with the annual budgeting/forecasting process.
• Responsible for validating project baselines as well as cost support for the EBM and RFP processes.
• Oversees and provides forecasting support and variance analysis for manufacturing projects for assigned companies.
• Lead for the cost month-end close process, including but not limited to general ledger entries for machine cost of sales, machine capitalizations, plant overhead adjustments, and inventory reserves.
• Lead and oversight for the general ledger account reconciliations for inventory, construction/work in progress, accrued cost of sales, and warranty reserves.
• Works closely with business partners to develop, create and publish month-end and quarterly reports.

Compliance

• Oversees, directs team, and assists with maintaining costing system including posting controls, material costs, labor rates, overhead rates, and project cost elements.
• Leads the analysis and completion of the annual LIFO inventory calculation.
• Assess, monitor, and assists in establishing internal control procedures in the inventory and manufacturing areas.
• Oversight and assists with monthly reconciliation of perpetual inventory reports to the general ledger and other inventory-related general ledger accounts. Monitors cycle count activity and conducts regular cycle count audits.
• Drives efficiencies through development and optimization of automated costing information and processes within the ERP system.
• Oversees, directs team, and assists with annual audits, including US corporate consolidated audit as well as statutory audits for assigned foreign subsidiaries for the inventory and manufacturing areas.

Global - International

• Provide corporate cost accounting guidance and support to Loram’s global entities.

Leadership and Talent Development

• Leads and directs the activities of cost accountants to consistently meet company goals and departmental initiatives.
• Develops staff with the appropriate mixture of experience, capabilities, and skills to ensure effective succession planning. Actively advocates for appropriate academic and leadership training and development within the team.

BEHAVIORAL COMPETENCIES:

• High-Impact Communication
• Building Partnerships
• Adaptability
• Directing Others
• Planning and Organizing
• Values Based Leadership

REQUIRED QUALIFICATIONS:

Education: Bachelor’s Degree in Accounting / Finance

Experience: 8 Years of progressive cost accounting experience and extensive hands-on experience using an ERP system in a manufacturing environment.

Knowledge, Skills, and Abilities:

• Knowledge and experience with standard cost and overhead rate development
• Excellent analytical, interpersonal, communication, and presentation skills
• Proven ability to lead teams, company initiatives, and manage in a global, dynamic environment
• Skilled in time management and the ability to prioritize tasks
• Excellent critical thinking and problem-solving skills to drive continuous improvement and automation of processes
• Highly organized with keen attention to detail
• Adaptable and accustomed to working in fast-paced environments
• Strong knowledge of relational databases (preferred SQL knowledge)
• High level of accountability
• Advanced technical skills in using Microsoft applications (Excel) and ERP Systems
• A disciplined work ethic and advocate for Loram’s values, vision, and mission

*12 years or equivalent combination of education and experience

WORKING CONDITIONS:

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

• Travel up to 10%
• Office deskwork, requiring sitting, walking, using phone & computer
• May lift up to 30 lbs. occasionally
• Can tolerate variable and sometimes challenging conditions during visits or inspections of company equipment in a railroad environment.

Rev: June 1, 2023

Loram is proud to be an Equal Opportunity Employer of Minorities, Females, Protected Veterans, and Individuals with Disabilities.

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