Cost Accountant

2 weeks ago

Palmer, Massachusetts, United States IMI Precision Engineering Full time
Job Title: Cost Accountant

IMI Precision Engineering is seeking a highly skilled Cost Accountant to join our team. As a Cost Accountant, you will play a critical role in ensuring accurate manufacturing cost information is available to inform tactical and strategic decision making.

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 and nuance of regular reports to relevant teams.
  • Evaluation of changes to material costs and impact of purchase price variance, partner with 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 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:
  • 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.
What IMI Can Offer You:

At IMI Precision Engineering, we prioritize creating an inclusive culture of health. We strive to remove barriers to care and offer choice for all your health and wellbeing needs.

  • 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.

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.

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.

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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