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Cost Management Specialist

2 months ago

Torrance, California, United States Sparrow Inc Full time



POSITION OVERVIEW:

Accountable for the precise and prompt assessment of product and component standard expenses, along with periodic

inventory documentation and associated journal entries.

Demands a solid understanding of GAAP (Generally Accepted Accounting Principles) as they pertain to non-GAAP standard cost frameworks and external reporting obligations.

Requires a comprehensive understanding of intricate manufacturing standard cost

systems and meticulous attention to detail. Involves regular collaboration with various levels of personnel in finance and other sectors of the organization.

KEY RESPONSIBILITIES include the following. Additional tasks may be assigned.

  • On a quarterly basis, update material, labor, subcontract, and overhead costs for all item numbers in the master file. Adjust standard costs outside of the quarterly timeline as necessary in cases such as bill of material modifications or inventory acquisition method alterations.
  • Quarterly, alongside month-end closing, conduct impairment evaluations of diverse inventory categories. Prepare documentation for the capitalization of freight and tariff expenditures related to quarter-end inventory. Integrate Management Review into the Excess Obsolete Inventory reserve program output to record reserve adjustments.
  • Execute month-end closing procedures. This includes journal entries, reconciling perpetual inventory listings to general ledger inventory accounts. Provide the Finance department with comprehensive analysis of perpetual inventory valuation to collateral valuation.
  • Ensure all accounting data in the system associated with item master parts complies with company policy. This includes item master parameters, standard costs, costing bills-of-material, site-specific setup overrides, and routings. Review and authorize item master additions/modifications as well as the addition/modifications of associated accounts, generalized codes, and other necessary elements.
  • Maintain adherence to Internal Audit and Sarbanes-Oxley key controls.
  • Propose enhancements for the accounting system, reports, data extracts, and program errors.
  • Respond to inquiries for cost data and analysis of labor and overhead expenditures that are capitalized into inventory valuation.
  • Assist in the activities related to the annual multi-site physical inventory.
  • Support the quarterly and annual external audits, including preparation and clarification of various data requests.


  • Assist the Cost Accounting Manager as a resource to Operations concerning all cost accounting and inventory valuation matters, reporting, and analysis.
  • Perform other relevant duties as assigned.

Competencies:

To successfully execute this role, an individual should demonstrate the following competencies:

Analytical Skills - Integrates complex or diverse information; Gathers and investigates data; Utilizes intuition and experience to enhance data; Designs workflows and procedures.
Creative Design - Develops innovative solutions; Incorporates feedback to refine designs; Exhibits meticulous attention to detail.

Problem-Solving Abilities - Identifies and resolves issues promptly; Collects and evaluates information skillfully.

Creates alternative solutions; Collaborates effectively in group problem-solving scenarios; Employs reasoning even in challenging discussions.

Project Management Skills - Formulates project plans; Coordinates initiatives; Communicates changes and progress.

Completes projects within deadlines and budget; Oversees project team activities.

Interpersonal Skills - Maintains confidentiality; Listens attentively without interruption; Manages emotions effectively;

Remains receptive to others' ideas and embraces new approaches.

Communication Skills - Articulates clearly and persuasively in various situations; Listens and seeks clarification; Responds effectively to inquiries; Demonstrates group presentation skills; Engages in meetings.

Team Collaboration - Balances team and individual responsibilities; Displays objectivity and openness to diverse perspectives;

Welcomes feedback; Contributes to fostering a positive team environment; Acknowledges the achievements of fellow team members.

Written Communication Skills - Writes clearly and informatively; Edits for accuracy and clarity; Adapts writing style to suit the audience; Effectively presents numerical data; Capable of interpreting written information.

Leadership Qualities - Effectively influences the actions and opinions of others; Inspires respect and trust; Accepts constructive feedback from others.

Quality Management Focus - Seeks opportunities to enhance and promote quality; Demonstrates precision and thoroughness.

Business Acumen - Understands the business implications of decisions; Shows a focus on profitability;

Exhibits knowledge of market dynamics and competition; Aligns efforts with strategic objectives.

Cost Awareness - Operates within approved budgets; Develops and implements cost-saving strategies;

Contributes to profitability and revenue; Conserves organizational resources.

Diversity Advocacy - Promotes an inclusive and respectful work environment.

Ethical Standards - Treats individuals with respect; Upholds commitments; Operates with integrity and ethical principles; Adheres to organizational values.

Organizational Support - Complies with policies and procedures; Completes administrative tasks accurately and punctually;

Supports the organization's goals and values.

Strategic Thinking - Analyzes the organization's strengths and weaknesses; Evaluates market and competitive landscapes.

Adaptability - Adjusts to changes in the work environment; Modifies approaches or methods to best suit the situation;

Effectively manages frequent changes, delays, or unexpected challenges.

Dependability - Adheres to instructions, responds to management direction; Takes ownership of actions;

Honors commitments; Dedicates time to achieve goals; Completes tasks on schedule or communicates alternative plans.

Innovation - Exhibits original thinking and creativity; Approaches challenges resourcefully; Proposes suggestions for enhancing work processes.

Motivation - Demonstrates perseverance and overcomes obstacles; Takes calculated risks to achieve objectives.

Planning and Organization - Prioritizes and organizes work tasks; Utilizes time effectively.

Professionalism - Interacts with others in a respectful manner; Remains composed under pressure; Treats all individuals with respect and consideration, regardless of their position.

Quality Focus - Displays accuracy and thoroughness; Applies feedback to enhance performance.

Quantity of Work - Completes tasks in a timely manner; Strives to enhance productivity.

Safety and Security - Adheres to safety and security protocols; Takes appropriate actions beyond guidelines;

Reports potentially unsafe conditions; Utilizes equipment and materials properly.

Qualifications:

To successfully fulfill this role, an individual must be capable of performing each essential duty effectively. The

requirements outlined below represent the knowledge, skills, and/or abilities necessary.

Education and Experience:

A minimum of 5 years of experience in Inventory or Cost Accounting

A Bachelor's degree in finance or accounting is required

Familiarity with GAAP (Generally Accepted Accounting Principles) as they relate to non-GAAP standard cost frameworks and external reporting obligations.

Experience with ERP software (QAD Enterprise Edition preferred).

Advanced proficiency in MS Excel, particularly with pivot tables, macros, and functions.

Experience with Internal Audit and Sarbanes-Oxley requirements in relation to Cost Accounting and Inventory valuation.

Bilingual proficiency in Spanish and English is a plus.

Work Environment:

The characteristics of the work environment described here are representative of those an employee may encounter while

performing the essential functions of this role. Reasonable accommodations may be made to enable individuals with

disabilities to perform the essential functions. The noise level in the work environment is typically quiet.