Illinois Tool Works

Senior Plant Cost Accountant

Illinois Tool Works$80K — $95K *
Manufacturing & Automotive
Less than 5 years of experience
Job Overview by Ladders

Qualifications

  • Bachelor's degree in Accounting, Finance, Business Administration, or related field required.
  • 2-3 years of cost accounting experience preferred, or 3-5 years general accounting or financial analysis in manufacturing.
  • Experience with standard costing, inventory accounting, manufacturing variances, and month-end close preferred.
  • ERP system experience required; SAP or comparable manufacturing ERP system preferred.
  • CPA, CMA, or progress towards professional certification is a plus.

Responsibilities

  • Monitor inventory transaction activity and resolve issues with Operations and Materials.
  • Reconcile inventory and cost-related general ledger accounts, researching discrepancies.
  • Support month-end and year-end close activities, including journal entries and variance analysis.
  • Analyze manufacturing variances such as purchase price and material usage.
  • Develop and maintain inventory dashboards, reports, and financial models.
  • Support new product introductions by reviewing costs and bills of material.
  • Participate in continuous improvement initiatives across Finance and plant operations.

Benefits

  • Health and dental insurance
  • Company Paid Life Insurance
  • Short and Long Term Disability
  • 401K plan with generous company match
  • Vacation, personal days, and holidays
  • Continuing education reimbursement program
  • Flexible spending accounts
Full Job Description

Job Description:

The Senior Plant Cost Accountant is responsible for supporting the manufacturing operation through accurate product costing, inventory analysis and variance reporting. This position partners closely with Operations, Supply Chain, Engineering, and Finance to audit inventory controls, provide meaningful cost insights and identify improvement opportunities. The plant cost accountant is considered the liaison between Finance and Operations and must be able to communicate clearly with all levels of management and staff.

The successful candidate will combine strong accounting and analytical skills with a practical understanding of manufacturing operations. This role requires an individual who is comfortable working with and analyzing detailed financial data for management business decisions.

This positions reports to the Finance Manager.

Essential Duties and Responsibilities

  • Monitor inventory transaction activity, working with Operations and Materials to resolve any issues.

  • Reconcile inventory and cost-related general ledger accounts and research discrepancies.

  • Support month-end and year-end close activities, including journal entries, account reconciliations, accruals, and variance analysis.

  • Analyze manufacturing variances, including purchase price, material usage, warranty & scrap.

  • Develop and maintain inventory related dashboards, reports, and financial models.

  • Support new product introductions and engineering changes by reviewing product costs, bills of material and routings.

  • Maintain and analyze standard costs for purchased and manufactured inventory, including annual revaluation.

  • Support annual physical inventory count process with Operations, Materials, and IT, managing audit function and control to ensure accurate valuation.

  • Assist with development of capital expenditure requests, including financial justification.

  • Support internal and external audits by preparing documentation and responding to cost and inventory-related requests.

  • Ensure compliance with company accounting policies, internal controls, and applicable financial reporting requirements.

  • Provide assistance and review for all capital project requests related to Operations.

  • Identify and participate in continuous improvement initiatives across Finance and plant operations.

  • Perform other related duties and special projects, as assigned.

Education and Experience

  • Bachelors degree in Accounting, Finance, Business Administration, or a related field required.

  • Two to three years of cost accounting experience preferred, or three to five years general accounting or financial analysis experience in a manufacturing environment.

  • Experience with standard costing, inventory accounting, manufacturing variances, and month-end close preferred.

  • Experience working with an ERP system required; experience with SAP or a comparable manufacturing ERP system is preferred.

  • CPA, CMA, or progress toward a professional certification is a plus.

Knowledge, Skills, and Abilities

  • Strong understanding of accounting principles, inventory valuation and transactions.

  • Strong analytical and problem-solving skills, with the ability to identify trends, investigate discrepancies, and develop sound conclusions.

  • Advanced Microsoft Excel skills, including pivot tables, lookups, formulas, data analysis, and financial modeling.

  • Ability to organize and analyze large amounts of financial and operational data accurately.

  • Strong attention to detail while maintaining an understanding of broader business objectives.

  • Effective written and verbal communication skills, including the ability to explain financial information to non-financial colleagues.

  • Ability to build effective working relationships across Finance, Operations, Supply Chain, Engineering, and other functional areas.

  • Ability to manage multiple priorities, meet deadlines, and work independently with limited supervision.

  • Strong sense of ownership, accountability, discretion, and professional judgment.

  • Continuous improvement mindset with an interest in understanding plant processes and identifying more efficient ways of working

Benefits

Our employees enjoy competitive, merit-based salary plus excellent benefits including:

  • Health and dental insurance

  • Company Paid Life Insurance

  • Short and Long Term Disability

  • 401K plan with generous company match

  • Vacation, personal days and holidays

  • Continuing education reimbursement program

  • Flexible spending accounts

The opportunity to join a well established (80 years in business) yet dynamically changing organization that works together as a team to meet the challenges of satisfying customers needs and managing rapid growth to better compete in a global marketplace.

About Illinois Tool Works

ITW is an industrial manufacturing company that specializes in the fields of industrial machinery, engineering, operations, sales, marketing, finance, and accounting. It's in deep-sea oil rigs, aerospace technology, bridges and wind turbines, healthcare, the spaces in which they live and work, the cars they drive, and the mobile devices they rely on. It was founded in 1912 and headquartered in Glenview Nas, Illinois.

Illinois Tool Works Careers

Join the dynamic team at Illinois Tool Works (ITW), a global leader in diversified manufacturing, where innovation and excellence drive us forward. ITW offers unparalleled job opportunities, fostering a culture of growth and leadership in the industry.

Work You’ll Do

At Illinois Tool Works, you will be part of a professional community that thrives on creativity and innovation. Our employees are equipped with the skills needed to succeed and are provided with endless opportunities for professional growth. Engage in work that matters, with projects that transform industries and enhance futures.

Explore Career Paths

Whether you're seeking an internship, a graduate opportunity, or a seasoned professional position, ITW offers a range of career paths across various departments. Our team benefits from a supportive and diverse working environment where every member’s contribution is valued.

Innovate and Lead

Join a team where innovation leads to revolutionary solutions in industries worldwide. At ITW, you will work alongside industry experts to develop new ideas and strategies that keep us at the forefront of technological advancements. Your career at ITW will be marked by a continuous journey of growth and leadership.

Develop Your Skills

With ITW’s commitment to professional development and diversity training, you will enhance your skills through targeted training programs and workshops. These opportunities not only boost your career but also ensure you stay competitive in the job market.

Be Part of Our Culture

ITW is dedicated to building a culture that respects and embraces diversity, encourages innovation, and fosters leadership. Our team is our greatest asset, and we believe in providing them with the benefits and resources they need to succeed both professionally and personally.

Networking and Professional Growth

Expand your professional network through ITW’s global presence and collaborative work environment. Engage with professionals across different sectors, gaining insights that can lead to significant career advancements. Our networking events and professional groups help you connect with key industry leaders and peers.

Join Our Team

Search for open positions that match your skills and interests on the ITW Careers page. We are looking for passionate, curious, and solution-driven team players who are ready to take their career to the next level.

Stay Connected

Keep up to date with the latest industry trends, company news, and career tips by following our careers blog. Personalize your experience by subscribing to job alert emails, tailored to your preferences and career goals. Explore the opportunities at Illinois Tool Works today and discover how your expertise can help shape the future of our company and the industries we serve. Join us in our mission to achieve excellence through innovation and leadership.
Learn more about Illinois Tool Works
Size
45,000 employees
Market Cap
$68.1 billion
Industry
Net Income
$2.1 billion
Founded
1912
5 Year Trend
+1.2%
Revenue
$12.5 billion
NASDAQ

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