What are the responsibilities and job description for the FINANCIAL ANALYST position at Peninsula Iron Works?
Position Summary
The Financial Analyst for the PIW will be responsible for directing and overseeing the operational finance activities of the Company including financial plans and policies, accounting practices and reporting, cost accounting, financial forecasting and analysis and due diligence activities. The individual will require the necessary technical knowledge to ensure compliance with generally accepted accounting principles, corporate policies, and external audits. The successful candidate will be expected to implement and enforce internal control for safeguarding of company assets. Additionally, they must have strong accounting knowledge to keep division management informed with accurate information in decision making. The position will be responsible for leading and improving department functions, as well as meeting completion dates and interpreting and ensuring consistent application of organizational policies. The ideal candidate will be leading the tactical business,but also demonstrate the desire and ability for driving change, identifying business needs, areas of improvement and objectives through research and data-backed decision making that will empower them to make recommendations on appropriate business initiatives.
Essential Duties and Responsibilities
- Cost Analysis and Reporting :
Prepare comprehensive cost reports, including direct materials, labor, and overhead, to identify cost trends and variances against budget.
Collaborate with operational teams to develop detailed cost budgets and forecasts.
Implement and monitor cost control procedures to optimize operational efficiency
Work closely with production, procurement, and sales teams to understand cost drivers and identify cost reduction opportunities
Participate in the month-end and year-end closing process, including variance analysis and reconciliations
Provide guidance and training to junior accounting staff on cost accounting principles and practices
Required Skills and Qualifications :