Business Controller

Business Controller

Location: Winsted, CT

About SKF:
SKF has been making the world spin since 1907
SKF is an industry-leading manufacturer dedicated to a culture of belonging, where our people flourish in an equitable environment that promotes leadership development and career growth. SKF bearings played an integral role in helping Mars Rover collect rock and regolith samples on the planet's surface.

As an SKF team member, you will join 40,000 colleagues from more than 130 countries developing bearing technology and services that make rotation more reliable and sustainable. Sustainability is at the heart of everything we do. SKF aims to have net zero greenhouse gas emissions at all our production facilities by 2030.

SKF products keep vehicles rolling, power the machines that put food on your table, and even reach into the cosmos as part of the Mars rover mission. Founded in Sweden in 1907, today SKF is publicly traded on the Nasdaq Stockholm with annual sales in 2020 of approximately $10 billion.

Job Summary:
The Business Controller is responsible for cost and internal control and for performing financial analysis to allow management to make appropriate financial decisions. The Controller will partner with the Plant Manager and Management team to ensure that decisions are being made with the best available data and facts. The Controller will be responsible for managing the accounting functions within the plant associated with cost management, budgets, forecasts, monthly closing and variance reviews to ensure that financial results are produced and presented in accordance to GAAP and SKF policy.

Job Responsibilities:

• Partner with Plant Management to provide timely financial analysis and key performance indicators (KPI's) to maximize plant performance.
• Prepare reports daily, weekly and monthly so that information is always available to the Plant Management team for decision-making
• Identify/initiate actions to improve profitability and assets turns, personally executing appropriate ones.
• Examples include working capital reduction strategies, contribution margin leakage and countermeasures, operations restructuring, product cost re-engineering, financial analysis and modeling, and sustaining lean manufacturing savings.
• Preparation of accurate forecasts including in-depth analyses, identifying corrective actions.
• Drive Continuous Improvement Cost Saving Initiatives with Plant Management team and measures for Year over Year improvement, including optimization of Working Capital/Inventory Levels.
• Partner with Plant Management team on running and driving proper ERP use and supporting MS Power BI report to make proper and timely plans and decisions on Lean Inventory, alternate use and solid product cost and price decisions on both internal and external business.
• Support Capital Expenditure Requests (IRE's) in coordination with Plant Engineering & Plant Management team through approval stage followed by Capitalization of assets once in service.
• Work with the FOC (U.S. Financial Operating Center) on continuous improvement in communication on Accounts Payable, Accounts Receivable, Payroll and Other FOC driven journal entries (validation).
• Balance Sheet Reconciliations maintained at the FOC the Controller to support, as needed.
• Coordinate the annual planning and budgeting process to ensure development of realistic plans focused on continuous improvement and supported by action plans to assure successful achievement of planned results.
• Ensure a thorough understanding of plan drivers and opportunities / risks to facilitate development of cogent contingency plans.
• Drive actual results for the P&L & Working Capital to achieve/exceed Plan.
• Continuously monitor variances, identify risks, and opportunities and initiate corrective actions.
• Ensure that internal controls and procedures are adequate (no significant deficiencies) and comply with the requirements of SKF Internal Control policy.
• Responsible for all Cost Accounting functions -- establishing standard cost, variance analysis and month-end closing.
• Capitalize fixed assets on a timely basis per SKF Policy.
• Perform a Fixed Asset inventory once every three years per SKF policy.
• Plant Finance support for quoting new business, which may include preparation of cost estimates, analysis and support any certifications in compliance with Mgt Team.
• Hands on team member with strong presence on the plant floor.
• Minimize financial "Surprises", via a Weekly Pulse Call with Local Mgt Team and Aero Leadership.
• Prepare Ad Hoc analysis and reports as required.

Job Education and Requirements:

• A four-year degree in Accounting.
• MBA or CPA/CMA preferred.
• Five or more years accounting experience in a manufacturing environment with both General and Industrial Cost Accounting experience.
• Experience developing and using Standard Cost Accounting.
• Demonstrated ability to be proactive, creative, and innovative and use critical and strategic thinking.
• Sound analytical, problem identification, and problem-solving skills with the ability to analyze financial data and prepare concise financial reviews to make better business decisions.
• Strong professional written, verbal communications, and interpersonal skills.
• Excellent MS Office skills and a solid understanding of ERP systems.
• Experience with financial consolidation systems such as SAP BPC or Hyperion.
• Ability to work within and facilitate a team environment.

What You'll Love About SKF:
Rest and Relaxation. Enjoy a generous PTO policy and 13 paid holidays.

Work/Life Integration. SKF supports work/life integration, home, family, community, personal well-being and health. Flexible work options available, depending on role.

Diversity in the Workplace . We strive to embed Diversity, Equity, and Inclusion in everything we do. By developing a culture of belonging, our people can flourish; leading to an inclusive, equitable environment that promotes leadership, engagement, and innovation.

Best in Class Benefits. SKF cares about the wellbeing of our employees. Comprehensive healthcare options to fit your needs and opt out payment. Added benefits include company paid life insurance, STD, LTD. Supplemental benefits include critical illness coverage, tuition reimbursement, employee discount programs, and much more

Invest in your Future. Participate in our 401K program that boasts a 10% employer contribution: 100% match up to 5% of your elected contribution (100% Vested) plus an additional 5% company contribution.

Reports to: Controlling Aerospace
Location: Winsted, CT
Job ID: 20269

SKF provides equal employment [and affirmative action] opportunities to applicants and employees without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, or disability.

By applying to this job you acknowledge how SKF treats candidate data. Click HERE to review the SKF Data Privacy Consent Statement.

Equal Opportunity Employer/Disable/Veterans

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