The Director, Cost Accounting position is responsible for the overall accounting and costing functions, including audit, compliance and taxes. Accountable for developing and maintaining standard and actual costs, analyzing variances, performing routine and ad-hoc reconciliations, and performing month-end and quarter-end close for cost accounting. Ensures that costs for the company's products and services are allocated according to corporate procedures and in compliance with financial accounting standards. Oversees the cost control systems, manages and interprets cost audits, and prepares cost accounting reports for presentation to management. Gathers historical cost data (materials, labor, depreciation, operating expenses, etc.), to compare budgets with actual expenses.
Key Responsibilities Include:
- Overall responsibility for accounting for inventory and WW cost of goods sold inclusive of developing and maintaining costing methods and KPIs for inventory management and reporting back on KPIs as we prepare for commercialization.
- Collaborate with Manufacturing and Supply Chain, as well as contract manufacturing organizations, to develop processes to ensure timely and accurate reporting of inventory data.
- Performing month-end and quarter-end close procedures including preparation of journal entries, reconciliation and analyses related to inventory and cost of goods sold, as well as inventory valuation, balances, adjustments and reserves.
- Analyze and collect data to determine costs of commercial and clinical inventory such as raw materials, direct costs and overhead.
- Calculate and manage standard costs utilizing Bills of Materials and the ERP system.
- Prepare and verify product costs in support of all cost-based pricing contracts, inter-company transfer pricing and shipping valuations.
- Partner with FP&A and CMC departments on budgeting and forecasting of WW COGS and inventory.
- Provide management with key performance indicators for decision making purposes.
- Assist manufacturing with periodic physical inventory counts and monitor cycle counting and investigate variances and resolve issues.
- Responsible for worldwide inventory accounting inclusive of inventory reserves, inventory capitalization and management of inventory related controls.
- Develop and maintain Standard Cost of all commercial products - ensure appropriate classification of clinical/commercial spend.
- Support and ensure compliance with GAAP and related SOX controls and procedures including developing and updating policies and procedures to enhance efficiency.
- Responsible for internal and external audit requirements related to inventory.
- Prepare supporting documentation for SOX and SIE filings as needed
- Collaborate with IT team on continued system improvements and enhancements.
- Other duties as required.
Education, Registration & Certification:
BS, Accounting or Finance. Master’s in Accounting, CPA, CMA and/or MBA is a plus
- 3+ years in Cost Accounting leadership role with strong cost accounting background
- Experience with a publicly traded commercial stage biotech or pharmaceutical company with a working knowledge of cGMP and SOX 404
- Strong technical skills including knowledge of GAAP and a sound understanding of financial statement mechanics
- Extensive experience working in ERP systems to support cost accounting, preferably SAP
- Proven track record to create partnerships with cross-functional and remote teams
- Life Science/Biotech experience required
Skills, Knowledge & Abilities:
- Positive work ethic
- Superb communication and organizational skills with a high attention to detail
- Unquestionable integrity and personal ethics
- Demonstrated ability to thrive in a dynamic and fast-paced environment with the ability to think strategically
- Microsoft Office (Excel, PowerPoint, Word) expertise
- Results driven, problem solver