Magnaflux, a division of Illinois Tool Works (Fortune 250), is a leading worldwide supplier of magnetic particle, dye penetrant inspection equipment and associated chemical products used for applications within the Aerospace, Automotive, Oil & Gas and Energy markets.
With over 85 years in the industry, Magnaflux offers employees a competitive salary and comprehensive benefit package, including medical, dental and life insurance, 401(k) with immediate company match, and much more!
We are currently seeking an Accounting Manager who will be responsible for leading the accounting department to ensure all day-to-day, month-end and year-end activities are completed timely and accurately. This role will also assist in monthly forecasting of revenues, expenses and other financial metrics; and assist in corporate initiatives with ITW Toolbox Projects. This role reports to the Division Controller and is based in Glenview, IL.
Essential Job Responsibilities:
Manage accounting department to ensure all day-to-day, month-end and year-end activities and reports are completed timely and accurately.
Perform supervisory activities including interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; addressing complaints and resolving problems
Responsible for Credit & Collections function, setting payment terms and credit limits for customers.
Verify compliance with ITW policies and procedures and internal controls.
Manage and review all internal department procedures to ensure adherence. Make recommendations for improvements.
Regular review of inventory procedures to ensure they are accurate and complete. Take lead in coordination of annual standard cost roll. Ensure quarterly grading analysis is completed according to policy.
Perform monthly Corporate financial reporting and generate monthly financial reporting package for Magnaflux management including KPI’s, trend analysis, sales analysis, etc.
Analyze product line financial variances, material cost of sales, variable margin, and department specific overhead expenses.
Perform Strategic Sourcing reporting and analysis, quarterly, annually and prepare annual tax kit.
Assist with preparation of LRP, Annual Plan and forecasting.
Take lead in any internal and external audits.
Contribute to Toolbox improvement projects, including product line and process-specific simplification.