Senior Cost Accountant

Role Summary

Maintains and reviews cost standards, reviews inventory variance reports and manufacturing absorption analysis reports, and uses these reports to assess financial performance of the company.  Responsible for cost and inventory accounting of the division by collecting, tracking, calculating cost information and BOM and Routing reviews.

Key Responsibilities

• Responsible for verifying and developing cost standards, procedures and policies and implementation of enhancements as required.
• Make recommendations for management approval for cost accounting policies and procedures which result in improved cost and budget systems.
• Develop and prepare product cost and budget reports which meet the needs of managers and other employees using the information.
• Assist in strategic financial planning and other forecasting activities.
• Responsible for reconciling general ledger account balances for inventory, material expense and production costing items.
• Responsible for tracking scrap and scrap reconciliation.
• Satisfy all Sarbanes-Oxley documented finance process requirements for the position.
• Work together with other members of the Sales and Finance team members for a more efficient month, quarter and year end close.
• Assist in Ad Hoc projects to improve overall financial process and controls.
• Interact with sales team and program managers to track Financial Performance of new program launches.
• Identify, track and assist with resolution of Commercial Issues
• Manage Continuous Improvement budgeting and tracking.  Assist with CI and Winning Teams project financial analysis.
• Interface with Corporate analysts and specialists
• Perform other duties as required

Key Qualifications/Requirements

• Needs to have a solid understanding of Cost Accounting, Margin Analysis, Engineering change tracking, Forecasting and Financial Reporting
•  Adhere to rules, regulations and/or policies and procedures
• Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
• Must have good problem-solving skills.
• Must be detail oriented
• Must have good organizational and communication skills.
• Must demonstrate initiative, job ownership, desire to improve processes, willingness to participate in continuous improvement, motivated to take on additional responsibilities

Additional Information

EDUCATION/EXPERIENCE REQUIRED:

• • Bachelor Degree with accounting emphasis; Minimum 3-5 years accounting experience, preferably in manufacturing. 
  • Experience with Microsoft Word, Outlook and Advanced Excel and other PC tools.
  • Experience with integrated financial/manufacturing software packages.  Experience with QAD a plus.

Awareness. Unity. Empowerment.

At Magna, we believe that a diverse workforce is critical to our success. That’s why we are proud to be an equal opportunity employer. We hire on the basis of experience and qualifications, and in consideration of job requirements, regardless of, in particular, color, ancestry, religion, gender, origin, sexual orientation, age, citizenship, marital status, disability or gender identity. Magna takes the privacy of your personal information seriously. We discourage you from sending applications via email to comply with GDPR requirements and your local Data Privacy Law.