What are the responsibilities and job description for the Director of Finance position at Penn Engineering?
Basic Purpose and Objective
Lead the Michigan Finance Shared Services Team.
The accurate reporting of the financial health of the company as well as the recommendation/assistance of cost saving measures
Specific Duties and Responsibilities:
- Lead Michigan Finance Shared Services Team: 2 Staff Accountants, Accounts Payable, Accounts Receivable and Cost Accountant
- Perform / supervise monthly divisional & consolidated financial close
- Complete Monthly Financial Reports and Controller’s Report including a written summary of Sales, Mix, Operational, Working Capital and Cash Flow Variances from Budget
- Monthly submissions to corporate
- Includes ongoing communication with leadership team on performance to budget
- Weekly/Monthly Metrics Reports and Executive Staff Meeting Involvement (e.g. Sales to Budget, Efficiency, Spending to Budget, Inventory, Pounds Produced per Line/Man hours, Sales Pareto’s etc. as requested by both plant and financial management)
- Prepare Weekly Cash Forecasting
- Authorize weekly wire transfers
- Perform or supervise all balance sheet account reconciliations including inter-company, fixed assets and bank reconciliations
- Track and minimize working capital requirements
- Maintain Inventory Reserves according to company Policy
- Minimize inventory obsolescence though ongoing monitoring & supervision
- Initiate Inventory Reporting to further identify specific Excess, Inactive and Obsolete Inventory and develop a disposition policy that includes maximizing customer recoverable for Raw & Fab. and minimizing part balance-out obsolescence
- Compliance with corporate quarterly, annual and interim reporting requirements
- Coordination of Internal and External Interim and Year-End Audits
- Coordination and completion of annual divisional and consolidated budget
- Supervision of Physical Inventories as necessary
- Strategic involvement for initiatives in product costing, pricing, sales trends, manufacturing trends and miscellaneous financial initiatives
- Administration of Commissions & Bonuses
- Perform quarterly Labor and Burden analysis
- Maintain and develop internal controls and procedures related to shipping, receiving, A/P, inventory & cycle counting, annual physical inventory, scrap reporting, etc.
- Monitor and track cost reduction and continuous improvement initiatives (both budgeted and unbudgeted)
- Various other accounting duties as requested
- Safety:
- Follow all safety requirements to avoid injury to self and fellow employees.
- Create and maintain a safe work environment; repair and/or report non-conformances to company safety policies and guidelines
- Perform the necessary safety requirements to avoid injury to self and fellow employees
Qualifications:
Education and Experience Required:
- Bachelor’s Degree in Accounting
- Minimum of 10 years of accounting experience
- Strong leadership skills
- Problem solving skills
- Detail oriented and excellent organizational skills
- Strong verbal and written communication skills
- Ability to work under pressure
Position Type/Expectations of Working Hours
- Full time position
- Regularly scheduled to work 8 – 10 hours a day
- Must be able to work Monday - Friday