Director of Cost Accounting

Job Description

We are seeking an experienced Director of Cost Accounting to join our dynamic manufacturing company. This role is pivotal as we transition to a standard costing system across our multi-site network, which includes both flow and batch manufacturing processes. The ideal candidate will have a strong background in cost accounting, experience in a manufacturing environment, and will play a crucial role in developing, implementing, and managing the accounting flows necessary to support standard costing. The Operational Cost Controller will be the primary resource responsible for reporting and analyzing operational financial performance versus budget and forecast and will function as a key business partner to operations management. They will assess and communicate operational performance, develop and drive improvement plans as needed. This position will also manage a team of cost accountants and work closely with cross-functional teams to ensure accurate and efficient financial reporting.

Responsibilities

Key Responsibilities:

• Standard Costing Implementation:
• Lead the development and implementation of a standard costing system across all manufacturing sites, including the development and documentation of new accounting flows.
• Collaborate with purchasing, production, engineering, and supply chain teams to define and maintain standard costs for materials, labor, and overhead across the various value streams.
• Ensure accurate calculation and application of standard costs in both flow and batch manufacturing processes.
• Cost Accounting, Financial Reporting and Operational Performance Analysis:
• Oversee the preparation and analysis of cost reports, including variance analysis (purchase price variance, labor efficiency, material usage variance, etc.).
• Develop and maintain cost accounting processes to ensure timely and accurate reporting of production costs, inventory valuations, and profitability analysis.
• Identify opportunities to simplify, standardize and improve internal processes.
• Implement robust internal controls around inventory and cost management, including how operational systems manifest activity into financial records, to ensure compliance with company policies and accounting standards.
• Oversee the related accounting close processes for month end and year end reporting.
• Responsible for maintaining account records and responding to related audit inquiries.
• Perform detailed variance analysis, identifying root causes and leading collaborative projects to permanently address the cause
• Lead the work associated with Annual Planning and Quarterly Forecasting as it relates to Operational Costs, ensuring alignment and accuracy of standards.
• Collaborate with the broader FP&A and Finance team to ensure management reporting is accurate, impactful and appropriate, leading to stronger metrics, analysis and business decision making.
• Analyze the financial implications of project and investment proposals.
• Team Leadership and Development:
• Manage and mentor a team of cost accountants, and finance professionals, providing guidance and support in the analysis of manufacturing costs and operational financial performance.
• Promote continuous improvement and knowledge sharing within the team, fostering a culture of excellence and accountability.
• Cross-Functional Collaboration:
• Partner with operations, production planning, supply chain, warehousing, and engineering teams to understand and analyze cost drivers, process efficiencies, and opportunities for cost reduction.
• Recognize weaknesses in existing business operations and guide the business to solve the root cause and improve performance.
• Collaborate with IT and systems teams to ensure that cost accounting systems are properly integrated and aligned with operational processes.
• Tools and Techniques:
• Utilize advanced cost accounting tools and techniques, including activity-based costing, to enhance cost visibility and control across the organization.
• Develop and implement key performance indicators (KPIs) related to cost control and manufacturing efficiency, develop and maintain dashboards that report on these metrics to senior management.
• Continuous Improvement:
• Drive continuous improvement initiatives in cost accounting/forecasting processes and systems, leveraging technology and best practices to enhance accuracy and efficiency.
• Stay updated with industry trends and advancements in cost accounting/forecasting to bring innovative solutions to the organization.
• Other Duties as Assigned.
  

Qualifications

QUALIFICATIONS

• Bachelor’s degree in accounting, Finance, or a related field; CPA or CMA certification is a plus.
• Minimum of 10 years of experience in cost accounting within a manufacturing environment, with at least 5 years in a supervisory or management role.
• Proven experience with standard costing systems and principles, especially in a multi-site manufacturing network.
• Strong understanding of both flow and batch manufacturing processes and their cost implications.
• Proficient in ERP systems and cost accounting software; experience with SAP, JDE, Oracle or other top-tier ERP software is highly desirable. Ability to understand the utility of technology platforms and capitalize on the benefits of new technology for business process improvement
• Excellent analytical and problem-solving skills, with the ability to interpret complex financial data and provide actionable insights.
• Strong leadership and team management abilities, with a focus on mentoring and developing staff.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively across all levels of the organization. Ability to explain financial concepts required to interpret analysis to business partners.
  
  

Benefits

• Competitive salary commensurate with experience
• Comprehensive health, dental, and vision insurance
• 401(k) with company match
• Professional development and certification support
• Paid time off and holidays
• Life and disability insurance
• Performance bonus opportunities