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Cost Control Specialist

2 months ago

Carol Stream, Illinois, United States Manufacturing Company Full time
Job Overview

The Cost Control Specialist plays a crucial role in the continuous evaluation of expenses related to materials, labor, and subcontracting to achieve the financial objectives of the Manufacturing Company.

Key Responsibilities include but are not limited to:

1. Standard Cost Development

  • Establish and maintain the cost accounting framework
  • Provide accurate cost estimations for both new and existing products
  • Collaborate with Engineering to address and rectify issues
  • Analyze and report on the precision of Bill of Materials (BOM), time, operations, and notes
  • Generate comprehensive inventory reports
  • Investigate, resolve, and prepare journal entries

2. Inventory Management

  • Execute transactions to guarantee inventory precision
  • Prepare, investigate, and resolve recurring and reversing journal entries
  • Support inventory accuracy initiatives
  • Ensure compliance with inventory movement protocols
  • Advise on warehouse and bin locations within the ERP system
  • Contribute to the monthly and annual closing processes, including journal entry preparation for senior management

3. Budget Development

  • Formulate and sustain annual budgets

Qualifications and Skills:

  • Proficient in Microsoft Office Suite
  • Advanced skills in Microsoft Excel
  • Strong understanding of accounting principles and systems
  • Familiarity with manufacturing processes

Core Competencies:

  • Detail-oriented with a focus on accuracy
  • Analytical mindset with strong mathematical skills
  • Excellent organizational abilities
  • Effective communication skills, both verbal and written
  • Proactive and self-motivated

Minimum Requirements:

  • Bachelor's degree in Accounting
  • A minimum of 6 years of experience in Cost Accounting within a manufacturing environment