Director of Cost Accounting
One of our premiere clients with over 30 years of experience in personal skincare and wellness products that are designed with premium botanical elements and state-of-the-art scientific discovery is seeking a DIRECTOR OF COST ACCOUNTING to join their growing team!
You will be based at the headquarters in Newport Beach, CA. As a Director of Cost Accounting, you be managing the Cost Accounting Department and its activities and supervising a staff of three accountants. If you have seven or more years' of experience in an accounting field, a keen understanding of cost analysis and a strong working knowledge of Oracle, please submit your resume in Word format.
* Manage the Cost Accounting department and supervise a staff of up to three accountants and daily activities.
* Lead and manage the cost accounting, inventory control audit and operation resources.
* Manage the inventory control and audit functions and provide co-management of operations and expense budgets.
* Ensure compliance with targeted operational metrics and perform monthly financial analysis on operational performance against plan and forecast.
* Develop communications to the Executive Management Team on weekly operating performance and drive the operational aspects of the planning process.
* Provide overall financial support for this business unit, reporting to the Companies' Managing Director.
* Bridge FP+A, Cost Analysis, and Cost Accounting responsibilities and draw on resources within those areas.
* Design, develop and provide testing for a complete re-installation of our ERP system in 2017/2018 (Oracle or SAP) requiring a critical leadership responsibility for the and launch of this upgraded system.
* Work with the Operations Management and FP&A teams on the annual planning process and develop the annual budgets and periodic forecasts for cost of goods sold, inventory and our manufacturing facility functions.
* Analyze variances between actual and budget/forecast.
* Lead and manage the year end physical inventory audit function.
* Lead the annual standard cost update processes and ensure standard cost are properly maintained throughout the year.
* Responsible for the gross margin forecast process and be the point person for this monthly task.
* Oversee the monthly and quarterly comments and analysis on operational performance that impact gross margin and inventory.
* Review, analyze, and communicate the actual monthly financial and operational results to the operations management team so they know how they actually perform against the monthly targets.
* Ensure Operations spending is within their budget and identify needs to cut expenses appropriately if there is a reduction in production volumes.
* Develop an understanding of the production volume effect on variable, semi-fixed and fixed overhead cost.
* Work with the operations management team to ensure the weekly operational metrics drive the desired M/E financial goals and objectives.
* Act as a business advisor to human resources planning to ensure productivity percentage and efficiency improvement are fully considered.
* Provide weekly financial analysis and reporting on operational performance using the key metrics dashboard (e.g. DL and OH labor over and under absorption, OH & DL expenses per unit produced, cycle count accuracy %, material over and under buys, inventory turnover by key customer accounts, and inventory cycle count adjustments).
* Work with the operations team on a weekly basis to manage the manufacturing variances effects to gross margin.
* Make sure inventory management and operations teams meet their monthly goals and objectives.
* Work with the operations team on a weekly basis to manage the excess inventory and obsolete process by ensuring obsolete inventories are fully reserved and disposed of physically within 90 days.
* Work with Sales & Marketing and Supply & Demand teams to ensure quick actions on excess inventories (special promo or discount given to expedite excess inventories sales).
* Support the weekly production, shipped, and cost forecast for Finance and Operations.
* Bachelor's degree in Finance or Accounting is required. Master's degree is highly desirable.
* At least 10 years related work experience in a manufacturing environment.
* STRONG WORKING KNOWLEDGE OF ORACLE IS MANDATORY.
* Over seven years' managing the Cost Accounting function and supporting senior management.
* Solid understanding of financial statements and GAAP accounting principles.
* Possess the ability to drive operational improvements grounded in financial and operational analysis.
* Provide analyses and maintain ongoing interaction with both finance and operations.
* Must have strong leadership skills and a "can do" attitude that drives operational and financial results.
* Experience in financial month-end closing (process, requirements, reporting, etc).
* Superior Excel financial modeling and PowerPoint skills.
* Experience with Access database a plus.
* Exceptional problem solving and analytical skills while demonstrating the ability to understand key business drivers and offer workable solutions.
* Must possess a strong attention to detail.
* Excellent written, verbal and interpersonal communication skills.