Cost Accountant

IMI plc

We are a global specialist engineering company that creates breakthrough solutions. We are curious and like to solve problems, partnering with our customers to solve the demands of today and prepare for the challenges of tomorrow. We embrace innovation and care about outcomes that are good for business, everyday life and making a better world - creating lasting impact for everyone.

We design, build and service highly engineered products in fluid and motion control applications. We focus on five market sectors: Industrial Automation, Process Automation, Climate Control, Life Science and Fluid Control, and Transport.

Our partnership approach breaks through problems and reduces complexity. We don't invent in isolation - we collaborate with our customers. We listen closely and we think differently, creating space for diverse minds to innovate. We are working together to make businesses safer, more sustainable and more productive.

Role Overview:

The Cost Accountant be a valuable business partner to the operational and commercial teams by ensuring accurate manufacturing cost information is available to inform tactical and strategic decision making. The Cost Accountant will own and improve accuracy of manufacturing costs at the Palmer, MA and Pipersville, PA facilities. The Cost Accountant will be required to work closely with the finance, manufacturing, and supply chain teams to improve the robustness of standard costs and improve visibility of product level profitability.

Key Responsibilities:

• Improve accuracy of routings, BOMs and standard costs, assess allocation of overheads and indirect labor costs to ensure appropriate recovery.
• Own the annual cost roll process, evaluate the impact of updates to labor and overhead hourly rates, process changes to costings in the ERP system, assess revaluation impact on the balance sheet and P&L.
• Detailed analysis of monthly variances between standard and actual gross margins, absorption analysis and simulation of the impact of changes to mix or volume on future profitability including ownership & nuance of regular reports to relevant teams.
• Evaluation of changes to material costs and impact of purchase price variance, partner supply chain and sales teams to mitigate inflationary impacts.
• Periodic review of standard costs to identify discrepancies.
• Lead the finance activities in relation to the annual count process, partner with the operational and supply chain teams to drive cycle count process accuracy with the objective of eliminating the need for an annual count.
• Own the quarterly E&O provision calculation, proactively drive projects to reduce E&O.
• Partner with the Quality team to support scrap reduction initiatives.
• Assess impact of new investments in facilities.
• Support and qualify activities within a project from initial qualification, proposal and execution
• Evaluation of efficiency improvement activities (process optimization, lean, automation etc.) to drive bottom-line benefits.
• Significant interaction with the manufacturing, supply chain, engineering, new business development and sales teams.
• Deliver monthly and ad-hoc reports to the management team setting out key costing themes and product-level profitability actions.

Critical Competencies for Success

Education and Experience

• Bachelor's Degree in Accounting, Finance or related field with a minimum of 5 years in a manufacturing and/or public accounting role with increasing levels of responsibility and leadership.
• Experience in large, global organizations with a track record of delivering accurate financial forecasts.

Skills

• Excellent judgment and problem-solving skills to quickly resolve unique and challenging business issues.
• Strong analytical skills with the ability to interact effectively with operational teams.
• Ability to effectively prioritize and manage multiple projects.
• Knowledge of financial practices, GAAP, cost management, supply chain, and manufacturing/operations is required.
• Highly skilled at organization and personnel development.
• Background in large matrix global organizations with success in driving process improvement.
• Cost accounting experience.
• A formal accountancy qualification and evidence of continuing professional education post qualification.
• Proficient in MRP, ERP and MS Office Suite (Excel, PowerPoint, Word and Outlook) is required.

What IMI Can Offer You

At IMI, one of our top priorities is to create an inclusive culture of health. We strive to remove barriers to care (whether that be physical or financial) and in doing so, we offer choice for all your health and wellbeing needs.

See below for a general overview of our amazing perks and benefits:

• Multiple health plans to choose from: HMO, PPO, and High Deductible Health Plans with a low-cost share
• Best-in-class 401K plan with zero vesting and up to 6% contribution matching
• 14-week maternity leave at full pay following one year of service (Adoption benefits are equivalent)
• 4-week paternity leave at full pay following one year of service (Adoption benefits are equivalent)
• Employee Resource Groups that offer community and support, like our Pride Network and Network of Women groups
• PTO, encompassing inclusive holidays
• Career Development opportunities (IMI's 'Catalyst' Program)
• Employer contribution for Health Savings Account, and in many cases free virtual telemedicine, and teletherapy.
• Mental Health and wellness programs to support you and your family
• Full suite of voluntary benefits to tap into, including but not limited to: Critical illness insurance, hospital indemnity, legal insurance, identity theft protection, and pet insurance or home & auto insurance through our discount advantage platform
• Short & long-term disability as well as basic life insurance at 2x your basic salary at no cost to the employee
• Free financial advisors, webinars, and classes through Charles Schwab
• Annual Employee Stock Purchase Plan with option to purchase IMI shares at a reduced employee only price - no opportunity to lose, only to profit or refund your investment 100%

**Benefits plans change year over year, but we have guiding principles in place to ensure our employees have the tools and resources available to stay connected and up to date**

Health & Safety

The physical demands described within the Key Duties & Responsibilities section of this job description are required to perform the essential functions of this position. Reasonable accommodations may be made for individuals with disabilities. Please contact your local HR representative to discuss the specific Work Conditions and Physical Requirements of this role.

Health, Safety, and Environmental Duties - At IMI we are all personally committed to protecting our people, minimizing our impact to the environment, the communities we operate in and our company. All members of our workforce have the duty to ensure the health, safety and welfare of themselves, others, and the environment. Every employee is expected to follow all HSE operating procedures, also to challenge any observed behaviors or unsafe acts.

Code of Ethics

IMI requires the highest standard of ethics in all business dealings, particularly with customers, suppliers, advisors, employees, and the authorities. In accordance with the IMI Way: Our Code of Responsible Business.

Changes to This Job Description

IMI may amend this job description in whole or part at any time.

IMI is an equal opportunity employer. Qualified applicants will be considered without regard to age, race, creed, color, national origin, ancestry, marital status, affectional or sexual orientation, gender identity or expression, disability, nationality, sex, or veteran status.

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