North America Accounting Manager/Controller

Job Description

Company Description

Magnaflux is the global leader in non-destructive testing equipment and materials employed by the quality management teams of the world’s largest manufacturers. While you may not be familiar with our name, you have undoubtedly experienced the benefits that our products, services and employees have had on the performance and safety of many of the products that you come in daily contact with. Our mission is to make the world a safer place.

We are part of Illinois Tool Works Inc. (NYSE: ITW) a Fortune 300 global multi-industry manufacturing leader with revenue of $16.1 billion in 2023. The company’s seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required.

As part of ITW, Magnaflux makes the below commitments to our team members:

a Focus On What Matters Most

The ITW Business Model is our defining competitive advantage. By leveraging this Magnaflux reduces complexity and distractions to deliver best-in-class performance for our customers. Our focus has fueled our legacy of success, and we’re not stopping.

The ITW Business Model gives us the tools to focus on what’s most important at Magnaflux, and we’re grounded in our values of Integrity, Simplicity, Trust, Respect and Shared Risk.

EMPOWERED ENTREPRENEURSHIP

As part of Magnaflux, our people are empowered to think and act like business owners. Our decentralized, entrepreneurial culture is the key to how we execute and requires us to trust our people.

OPPORTUNITIES TO IGNITE YOUR FULL POTENTIAL

At Magnaflux we believe our people are the powerful force behind our success – that’s why we invest our time and resources into helping them grow their skills and interests. No matter where people start, they can grow their career at Magnaflux and as part of ITW.

PURPOSE BEYOND PRODUCTS

We are committed to making a positive impact on our people, customers, suppliers, environments and the communities where we live and work. The latest details can be found in the ITW Sustainability Report, which can be found on itw.com/sustainability.

Company Benefits

Best in Class Benefits: Our total rewards package is broad and offers comprehensive support ranging from health and wellness to retirement planning.

• Affordable Medical, Dental, Vision Insurance to meet you and your family’s needs
• HSA/FSA with a company match
• Income Protection Benefits
• Industry Leading 401(k) plan with company match
• Paid Time Off
• 11 paid holidays plus 1 floating holiday
• Parental Leave
• Matching Gift and Volunteer Program
  
  

Reporting to the Division Controller, this role serves as a key business partner to enable above average market growth and operational efficiency. In addition, this leadership role is responsible for managing the U.S. accounting and finance organization. Functions include the reporting process (which includes reporting to both the parent company and internal management).

Essential Job Responsibilities

Planning, reporting and analysis

• Participation in all major financial decisions of the North America business
• Responsible for Financial reporting of North America business
• Proactive internal reporting – Identify potential issues/opportunities and recommend solutions
• Financial analysis of actual results to highlight variances to key strategic plans/forecasts
• Monthly management information reporting including presentation of results to internal management
• Forecasting and Planning (Annual and Long-Range Plans)
• Control procedures – compliance with all ITW Policies and Procedures (Including internal and external audits)
• Assist Divisional Controller on planning, reporting, consolidation and analysis
  
  

Management

• Management and development of the three-member finance team
• Leverage and drive the Front to Back 80/20 Business Process and Toolbox principles within the organization to drive growth, enhance efficiency and eliminate complexity from the business processes
• Ensure the organization operates within all Corporate financial and compliance guidelines
  
  

Leadership Expectations – ITW

• Strategically Positions Business to Win in Markets. ITW leaders understand what is required to win. They are strategic and anticipate future trends. They bring an outside-in perspective to drive innovation in the organization. They demonstrate a strong enterprise mindset and do what is right for ITW
• Delivers Results. ITW leaders execute and deliver. They exhibit exceptional business acumen and excellent project management skills. They are stewards of the ITW Toolbox. They hold themselves accountable for consistently meeting ITW’s earnings targets
• Develops and Manages Talent. ITW leaders are outstanding developers of talent. They see talent as a strategic advantage and are constantly sourcing, coaching, and developing our people in order to build a talent pipeline. They motivate and inspire others to excel
• Leads Effectively. ITW leaders achieve outstanding performance with others. They are collaborative, communicate effectively, and can implement change. They are self-aware and know how to use personal influence rather than positional power to get things done. They role model ITW’s values
• Additional duties and tasks as assigned.
  
  

Qualifications

• Bachelor’s degree in Accounting and CPA required with a minimum 6 years of progressive experience in a financial reporting or audit. Experience in reviewing and supervising accounting areas such as accounts payable, inventory, invoicing/accounts receivable and payroll
• Strong strategic leadership skills with a proven ability to operate as a strategic business partner
• Proven ability to perform budgeting and forecasting, as well as drive simplification and continuous improvement within the business
• Experience developing and managing direct reports within the finance function.
• Ability to build constructive and effective relationships across the organization
• Proficiency in accounting software in addition to very strong Excel skills, intermediate Word and PowerPoint. Proficiency in Power BI or other database software highly preferred.
• Effective presentation/communication skills. Must have the ability to effectively present information and respond to questions from groups of managers, clients, customers and the public
• Requires minimal (4 times/yr.) domestic travel
  
  

Compensation Information

The compensation package for the role offers a competitive base salary ranging from $105K - $130K annually. This position is eligible to participate in the annual incentive plan.