Accounting/Finance Intern

We are currently seeking an intern to join our Applied Industrial Technologies (AIT) Accounting/Finance Department as part of a year-long rotational program.  The person will rotate between six different departments within Accounting-Finance (approximately two months in each department).  This will allow the individual to experience a variety of aspects of Accounting and Finance and better understand how each department helps support and drive the business.   

The internship program is flexible and hours can be established to accommodate the student’s class schedule.  The expectation is that the intern will be full-time (40 hrs/week) in the summer and part-time during the winter/spring (being able to work 16-24 hrs/week).   This position could involve limited travel during the summer (domestic only).  

JOB DUTIES (Listed by Department)

• Internal Audit - Test key SOX controls at AIT Corporate and specific Subsidiaries in order to properly assess the design and operating effectiveness of the control.  This will also include operational controls and controls related to configuration (mainly SAP) that drive system functionality and business processes.  Perform audit procedures, including identifying issues, reviewing and analyzing evidence, conducting interviews, and documenting the results of the procedures performed & conclusions reached.  Will also compile audit findings and recommendations for modifications and improvements to processes and systems.  Communicate corrective actions when necessary.
• General Accounting – Participate in monthly close process.   Utilize Cloud-based solution (Blackline) for processing journal entries including preparing supporting documentation.  Preparing account reconciliations and supporting documentation.  Research cost center general ledger posting inquires. Interact with various corporate and field associates to provide explanations of GL activity.
• Treasury – Participate in various assignments to gain exposure in corporate treasury operations and procedures.  Tasks include supporting the daily payment processing, reconciling cash activities and bank accounts, cash forecasting, debt and liquidity analysis, and treasury peer benchmarking.  The candidate will also provide support around various investor relations functions including investor due diligence requests and shareholder analysis projects. 
• Financial Planning & Analysis (FP&A) - Support Applied's FP&A function through the construction and maintenance of financial models, report production, forecast tools, KPI’s and other predictive models. Assist in the coordination and documentation of all monthly, quarterly and annual maintenance processes and upgrades to the Financial Planning/Forecast system.
• Tax – Work with experienced tax team to provide assistance in a variety of tax areas such as domestic, state/local, sales/use, and international tax.  This will include gaining experience with various tax calculations, supporting ongoing audits, and performing tax research.  The ideal person for this role is comfortable multi-tasking and open minded to being exposed to many different tax areas.
• Shared Services – Assist in executing a plan to optimize our lockbox matching process by analyzing data in SAP and HighRadius.  Contact customers and coordinate mutual actions that will improve the automatic application of their payments.
• Accounts Payable - Assist AP team with verifying both resale (US and Canada) and Non-resale invoices for processing correctly into SAP, enter tax and non-resale vouchers, work on invoice exceptions that have failed to automatically post to PO in an effort to post the invoice correctly for payment, assist with addressing GRIR instances where invoices have not been received. Interns will work with OCR and EDI software as well as learn the guidelines surrounding AP and the MDM process of adding or adjusting vendor master data.
• Overall - Communicate effectively with business unit management, senior management and other company personnel about audit progress and developments.  Work closely with other departments or divisions on matters of mutual concern and responsibilities.

POSITION REQUIREMENTS

• Pursuing a Bachelor’s degree in business with an Accounting or Finance major and/or a Master’s degree (Accounting or Business Administration).
  • Completed at least through Junior Year of undergraduate studies (including introductory Accounting courses)
• Basic concept understanding of Accounting, Finance and Sarbanes-Oxley (SOX).
• General knowledge of management information systems terminology, concepts, and practices

DESIRED CHARACTERISTICS

• Experience with SAP (auditing or functional)
• Ability to work independently, but know when to escalate issues to supervisors.
• Professional sense of independence, integrity and objectivity.
• Highly motivated, self-directed individual.
• Skill in conducting (self) quality control reviews of audit work products.
• Skill in collecting and analyzing data, evaluating information and systems, and drawing logical conclusions (while applying professional skepticism).
• Ability to maintain composure under pressure while effectively managing multiple projects and meeting multiple deadlines.
• Skill in negotiating issues and resolving problems.
• Proficient computer skills, including word processing, spreadsheet, systems documentation, audit packages, and other business software to prepare workpapers, reports, memos, summaries, and analyses.
• Exemplify effective verbal and written communications, including active listening skills and skill in presenting findings and recommendations for improvement.
• Ability to establish and maintain harmonious working relationships with co-workers, staff, and external contacts, and to work effectively in a professional team environment.

SKILLS/EXPERIENCE GAINED

• Key accounting, financial, auditing and documentation skills
• Enhanced data analysis capabilities
• Enhanced business communication (both written and verbal) and team building skills
• Experience in a professional business setting, including opportunities to interact with various levels of management
• Experience with SAP (journal entries, transaction processing, auditing, executing queries, running reports and configuration testing)
• Experience with Blackline systems (account reconciliations, journal entries, tasks).

Founded in 1923, Applied Industrial Technologies (NYSE: AIT) is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. Our leading brands, specialized services, and comprehensive knowledge serve MRO and OEM end users in virtually all industrial markets through our multi-channel capabilities that provide choice, convenience, and expertise.

We are an equal employment opportunity employer.  All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, gender, sexual orientation, gender identity, age, disability, protected veteran status, marital status, medical condition or any other characteristic protected by law.