Senior Cost Accountant
Accounting | Hydromotion - Spring City, PA | Full Time
Since 1971, Hydromotion products have been serving customers everywhere electric power, data, or fluids must be carried through rotary joints. We have an excellent industry reputation for quality, reliability and customer focused new product development. Supported by our remote corporate finance team and reporting to the General Manager, the Senior Cost Accountant is a high-visibility, impact position within the company and our parent organization. This position is based onsite at our plant in Spring City, PA.
The professional hired into this role will be a business partner for the commercial and operations teams, ensuring principles of cost accounting are applied to enable a thorough understanding of product costs, production variances and business profitability. Management of confidential financial, company and customer information is required.
Hydromotion offers industry competitive benefits for medical, dental, vision, long-term insurance, short and long-term disability, paid holidays, PTO and a 401k plan with company match.
Essential Duties and Responsibilities include the following.
- Plan, study and collect data to determine costs of business activity such as raw material purchases, labor and overhead expenditures which directly affect the company’s financial operations. Review and provide analysis of significant variances of actual to standard manufacturing costs and make recommendations for improvement (PPV, Material Usage variance, Labor rate and usage variances, Overhead spending variances).
- Makes estimates of new and proposed product or service costs. Recommends cost efficiencies to senior management in new product layouts. Review and provide analysis of all justifications for new capital expenditures.
- Provides management with reporting and analysis of monthly/weekly/daily business performance, specifying and comparing factors affecting profitability of products or services.
- Analyze as needed changes in product design, raw materials, manufacturing methods, or services provided, to determine effects on costs. Analyze and make recommendations as to inventory content.
- Drives continuous improvement programs to reduce product costs through interaction with Operations Purchasing and Engineering as needed.
- Supports all accounting month end and year end processes completing required journal entries and analysis as required. Support close process in other ways as assigned and required.
- Compiles and develops information to be used in operating budget preparation including material costs, labor costs and overhead spending costs by P&L line item.
- Develops components, finalizes and rolls standards at year end including verification of all purchases costs, routings, bills of materials, labor rates. Develops recommendations for establishing direct labor and factory overhead rates by department. Roll system.
- Review and set up all new standard costs or changes to existing standards through the ECN process.
- Set-up and coordinate all accounting aspects of the monthly inventory cycle.
- Monitor effectiveness and make recommendations as to effectiveness of controls in cost accounting system including monitoring No Cost and New Cost items. Develops and installs new cost accounting systems or components.
- Responsible for robust balance sheet controls including inventory accuracy/valuation, reserves for warranty expense, other items as appropriate. Candidate must be able to lead and support external audits.
- Other duties as assigned.
- Bachelor's degree (B. A.) from four-year college or university; Masters Degree and/or CMA preferred. 7+ years related experience or equivalent combination of education and experience.
- Candidate has successfully been part of the leadership team in a manufacturing environment.
- Ability to communicate at a high level while being connected to the detailed support.
- Technically proficient with standard costing systems (BOM, routings, work center rates, std cost rolls, variance analysis).
- Effective written and verbal communication skills, comfortable working with all levels of the organization.
- Ability to aggregate large amounts of data into meaningful, summarized reporting including insights and recommendations.
- To perform this job successfully, an individual should have knowledge of Word Processing software; Spreadsheet software and Oracle and Hyperion/FCCS accounting software.
- Ability to apply advanced college level mathematical concepts relative to this position.
The work environment and physical demands described here are representative of those an employee encounters while performing the essential functions of this job and doe not constitute all detailed description of all the work requirements. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- The noise level in the work environment is usually quiet.
- The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include Close vision, Distance vision, Peripheral vision, Depth perception and Ability to adjust focus. While performing the duties of this Job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear. The employee is occasionally required to stand and walk.
The company is not providing any sponsorship for this position.
The company is not accepting any candidates from external recruiters for this position.