What are the responsibilities and job description for the Assistant Controller position at INSTRUMENT DEVELOPMENT CO?
POSITION SUMMARY:
We are seeking a skilled Assistant Controller to join our dynamic teams in Delavan (Swiss Tech) and Mukwonago (IDC). The ideal candidate will thrive in ambiguous situations, be effective working independently, and bring valuable experience in navigating dynamic environments. This position is key to maintaining the financial health of the companies by ensuring accurate cost data, supporting strategic decision-making, and driving profitability improvements. The Assistant Controller acts as a business partner to operations and leadership, providing analysis and recommendations that enhance performance and efficiency.
FUNCTIONS AND RESPONSIBITIES:
- Cost Analysis & Reporting
- Collect and analyze data to determine costs of business activities including raw materials, subcontract, labor, and overhead.
- Prepare and maintain standard cost models for manufactured and purchased parts.
- Analyze changes in product design, raw materials, and manufacturing methods to determine effects on costs.
- Perform monthly variance analyses between standard and actual costs for raw materials, subcontract, labor, and overhead.
- Investigate significant purchase price, usage, and efficiency variances, and partner with operations to implement corrective actions.
- Provide periodic reporting comparing standard versus actual production costs and summarize results for management.
- Assist with product line, customer, and job profitability analysis.
- Financial Management & Support
- Participate in month-end close, journal entries, and reconciliation of inventory and cost accounts.
- Assist in developing and maintaining accurate financial forecasts and budgets.
- Support the CFO in preparation of financial statements and management reports.
- Develop and maintain financial models to assess pricing, profitability, and cost efficiency opportunities.
- Contribute to annual audit activities, ensuring cost data and inventory balances are accurate and supportable.
- Assist in monthly inventory overruns and obsolescence analysis and reporting.
- Inventory & ERP Management
- Maintain the integrity of cost data within the ERP system (Epicor/Kinetic).
- Create and roll standard costs and support the annual cost update process.
- Verify inventory adjustments, monitor levels and values, and assist in establishing and maintaining cycle counting process.
- Partner with operations to improve accuracy and efficiency of inventory and job cost transactions.
- Continuous Improvement
- Identify and implement cost-saving opportunities and process improvements to increase profitability.
- Provide data-driven insights to management on trends and operational performance.
- Participate in initiatives to streamline reporting, enhance accuracy, and improve internal controls.
DESIRED EDUCATION/EXPERIENCE:
- 3 to 5 years of experience in public/private accounting with demonstrated path of increased job role/responsibilities.
- Experience in a manufacturing environment strongly preferred, with Epicor ERP experience preferred but not required.
- CPA or CMA designation preferred.
- Strong leadership, execution, business analytics, technical and communication skills
- Successful experience/exposure:
- Month-end close process (JE checklist, sources of data, cut-offs, Fin Stmt reporting)
- Optimizing inventory management systems/processes including costing and establishing min/max levels
- Partnering with the management team to implement pricing best practices to improve revenue and profit opportunities
- Developing a high performing financial planning and analysis (FP&A) function including implementing/managing an effective, metrics based (KPI) reporting package/process and a robust customer and vendor data analytics reporting process
- Implementing/managing initiatives to optimize cash flow and working capital
- Managing cash, bank covenants, and cash forecasting
- As a business partner with the management team and Platform team to achieve targeted results and development and execution of the strategic plan
KNOWLEDGE, SKILLS, AND ABILITIES
- Strong understanding of cost accounting principles, inventory valuation, and GAAP.
- Excellent analytical and problem-solving skills with attention to detail.
- Ability to interpret and communicate complex financial data to non-financial audiences.
- Strong organizational and time management skills; ability to meet deadlines.
- Effective collaboration skills across multiple departments.