Cost Analyst I

Madison, Wisconsin
TEKNI-PLEX FLEXIBLES INC

JOB SUMMARY:

Manage overall costing processes and operational & margin analytics. Assist inventory management and planning activities including budget & forecast. Directly reporting to the Group Controller, working with other department and various levels of plant management & staff.

DUTIES AND RESPONSIBILITIES:

Create an environment that enables informed decisions by effectively communicating financial information.

Establish and maintain strong, cross-functional business relationships with leaders and individuals company-wide, and clearly understand goals through effective and collaborative teamwork.

Improve financial operations by identifying efficiency opportunities in both processes and systems, automate analysis and report as much as possible.

Improve the documentation of key financial processes and controls

Serves as a resource to team members and applicable internal/external stakeholders on more complex assignments/projects

Costing

Accountable for compliance to corporate cost accounting standards and methodology.

Establish costs for new products based on the engineering setup. Perform post-mortem analysis to evaluate / update standard costs as necessary.

Lead the annual standard cost review, identify the focus areas and items based on historical data, provide instruction to plant operation team for BOM and Routing review / update. Roll and upload the new standard costs once the review is completed.

Continue to improve the costing model to support the commercial team’s pricing exercises with balance between cost accuracy and ease of use.

Inventory Management

Assist with the cycle count process and annual full physical counts. Standardize the exercises and reporting according to related corporate policy.

Responsible for inventory related account reconciliation, including general ledger / sub ledger reconciliation and consignment warehouse reconciliations.

Responsible for periodical update of inventory market price. Backup plant controllers in performing OBS / LCM analysis and prepare the related journal entries.

Track inventory turnover fluctuation; provide timely feedback to plant team for better working capital management.

Budget & Planning & Forecasting

Provide support to the 3-5 years strategic business planning process.

Assist in the monthly sales and costs of goods sold forecasting process.

Provide support and lead the costing portion of annual budgeting process, focus on standard cost review and update with support to plant team in the areas of machine utilization, production hours, labor and overhead rates.

Assist and support periodical financial forecasts related to costs and variances

Assist in preparation and managing of all budget and planning activities, timelines and communications

Reporting

Periodical (monthly, quarterly, annual) cost accounting responsibilities, including cost related reconciliation and detailed analysis of actual production, volume, material, variable and fixed costs to budget and prior period.

Responsible to prepare pricing, volume and mix analysis to assure raw material costs are being properly passed thru to customers.

Responsible for the generation of a standard suite of financial reports and scorecards to measure and communicate organization’s performance against financial targets, including but not limited to variances, profitability, and other business KPIs

Work closely with all functions to improve financial planning and reporting consistency and visibility.

Analysis

Support the plant and BU monthly & quarterly financial reviews providing analytics and insights to operating performance.

Continue to improve the routine cost analytics, working with sales team to establish / enhance the sales related analytics, including any product line profitability analysis.

Analyze actual operating results for variances to standard / budget / forecast, work with plant personnel to identify the root cause, and provide recommendation of improvement. Provide detailed insights on cost drivers and production impacts of various initiatives both proposed and implemented.

Actively participates in the continuous improvement process by identifying and addressing any opportunities to reduce cost, improve product/process and/or improve overall operations

Develop insights that tie financial goals to requisite operational initiatives, reconcile data and reports, resolve discrepancies and collaborate across various Finance and non-Finance functions effectively.

Develop and standardize (if possible) financial models and analyze them to support strategic initiatives, either understand / improve an existing complex process, or perform capital expenditure ROI analysis to support decision-making and post investment project reviews.

QUALIFICATIONS:

Bachelor’s degree in Accounting or Business related field or eight years related experience and/or training; or equivalent combination of education and experience.

Advance knowledge of Microsoft Excel and PowerPoint.

Strong verbal and written skills.

Advanced degree or certification preferred.