What are the responsibilities and job description for the Plant Controller position at iThrive?
Key Responsibilities:
Financial Planning and Analysis:
- Lead the financial planning process, including the preparation of annual budgets and monthly/quarterly forecasts.
- Analyze performance variances in manufacturing against forecasts (weekly, monthly, quarterly, and annual), providing insights into past performance and recommendations for future optimization.
- Conduct cost modeling and scenario analysis to support strategic initiatives, cost improvement projects, and business optimization efforts.
- Guide capital expenditure planning and manage the capital appropriation request (CAR) process.
- Actively monitor and manage net working capital, including inventory optimization.
- Prepare rolling cash forecasts and oversee the company's overall cash flow.
Cost Management and Analysis:
- Analyze costs and collaborate with Operations and Engineering teams to identify the root causes of cost variances and recommend corrective actions.
- Develop and maintain standard costs for materials, labor, and overhead, ensuring accurate product cost roll-ups and annual standard cost updates.
- Analyze inventory valuations and reserves, recommending necessary adjustments.
Reporting and Compliance:
- Ensure compliance with corporate reporting standards and federal regulations for multi-site operations.
- Review and ensure that accounting practices, internal policies, and procedures comply with GAAP.
- Prepare and maintain accurate financial reports that provide insight into business unit trends, performance, and optimization opportunities.
Leadership and Staff Management:
- Supervise, mentor, and evaluate the performance of accounting staff.
- Establish and maintain efficient department processes and ensure organized record-keeping.
- Make recommendations for staff retention, promotions, transfers, reclassifications, and salary adjustments.
Special Projects and Ad-hoc Analysis:
- Lead and participate in special projects and ad-hoc analyses to support continuous improvement and profitability across the organization.
Qualifications:
- Education: Bachelor’s degree in accounting or finance.
- Experience:
- Minimum of 10 years of experience in accounting and finance.
- Minimum of 2 years of cost accounting experience.
- Significant experience in manufacturing, defense preferred.
- Over 10 years in a supervisory role with proven leadership skills.
- Technical Skills:
- Experience with ERP systems.
- Strong command of Microsoft Office (Excel, Word, PowerPoint).