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Manufacturing Financial Manager

2 months ago

Macon, Georgia, United States Nichiha USA, Inc Full time
Job Overview

Position: Manufacturing Financial Manager

Department: Finance

Reports to: Chief Financial Officer

Role Summary:

The Manufacturing Financial Manager will play a crucial role in supporting production leadership by monitoring, reporting, and uncovering opportunities to manage and minimize production expenses. Success in this position necessitates a comprehensive understanding of manufacturing cost accounting, the ability to devise and suggest cost-saving initiatives, and the skill to persuade operational staff to embrace new methodologies.

KEY RESPONSIBILITIES:

  • Conduct cost accounting activities to establish, revise, and uphold standard costs for each product by assessing initial costs and the impact of variations in raw materials, labor, and overhead.
  • Assist in pricing strategies through cost versus pricing evaluations.
  • Regularly review the discrepancies between projected and actual costs, pinpoint the reasons for variances, and propose enhancements.
  • Formulate and recommend strategies to enhance manufacturing productivity and optimize raw material utilization.
  • Implement control mechanisms to accurately calculate and manage work in progress while optimizing costs through effective inventory management.
  • Ensure robust controls are established for material and component inventory management.
  • Supervise the accuracy of Bills of Materials to reflect modifications in manufacturing processes and suggest methods to enhance BOMs and decrease production costs.
  • Track budgets and actual expenditures for capital projects and specific product lines.
  • Ensure that containment measures are in place to avert cost overruns for designated initiatives.
  • Evaluate the outcomes and efficiency of cost reduction initiatives.
  • Conduct manufacturing cost forecasting aligned with business strategies and contribute to the annual budgeting process.
  • Ensure adherence to budgetary constraints and mitigate the risk of budget overruns.
  • Provide data and insights for monthly, quarterly, and annual financial reporting.
  • Guarantee compliance with accounting standards and bolster internal controls.
  • Prepare necessary documentation for internal or external audits.
  • Identify financial risks within the manufacturing framework and develop strategies to address them.
  • Oversee cash flows related to manufacturing and ensure the effective utilization of funds.
  • Ensure compliance with tax regulations, contribute to tax planning, and assist in the development and execution of tax strategies.

Qualifications:

  • Bachelor's degree in Accounting, Finance, or a related discipline; CPA or CMA certification is preferred.
  • A minimum of seven years of progressive financial experience, including at least three years in a manufacturing context.
  • Strong grasp of manufacturing accounting principles, cost accounting concepts, and inventory management.
  • Expertise in financial planning and analysis, budgeting, forecasting, and financial reporting.
  • Exceptional analytical capabilities, with the ability to interpret complex financial data and provide actionable insights.
  • Advanced proficiency in Excel and experience with ERP systems.
  • Strong leadership and communication skills, with the ability to influence and collaborate effectively across all organizational levels.