This position will be responsible for driving results by accurately preparing, interpreting and communicating all business financial information, including commercial strategies and data analysis of key business metrics that drive management decisions based on facts and supporting data. This position will be responsible for all aspects of the accounting functions and financial reporting for the division, adhering to and applying all ITW principles and internal controls, and lead development of strategic financial plans for Long Range Plan and Annual Plan. This position will be based in Carol Stream, IL.
This position is a key leadership position as the trusted financial leader in the division. The Accounting Manager will lead the accounting function in the division to ensure accuracy of financial records and integrity of data shared with Management, supervise top 13 internal controls and compliance to ITW's policies and procedures and applicable laws.
• Responsible for managing Accounting staff and develop a talent pipeline by motivating, inspiring and influencing direct reports and peers.
• Manage all monthly, quarterly, and year-end financial closing processes effectively and efficiently.
• Actively engage in production management related to job delivery/installation coordination for revenue recognition in accordance with ITW policy.
• Drive accurate outlooking, gathering information from management, sales, and production and provide variance analysis vs. prior outlook, budget, and plan.
• Manage all financial aspects of the inventory including inventory reconciliation, cycle count program, slow & obsolete reporting and inventory management. Measure, monitor and analyze inventory trends, and drive improvement.
• Prepare/review monthly journal entries and account reconciliations for specified general ledger acccounts including inventory, various balance sheet accounts, intercompany transfers, and cash accounts.
• Manage day-to-day accounting functions including accounts payable, reconciliations, expense approval and reporting, capital justification, and fixed assets monitoring.
• Manage AR function according to established business billing T&C's, ensuring timely collections while meeting/exceeding ITW metrics for aged receivables.
• Apply 80/20 thinking and sound judgement to reduce complexity and work with team to simplify processes. Drive, monitor, and report Toolbox projects.
• Support maintenance of bill of material structures and update standard costs, including building job specific bills of material.
• Manage rebates and customer prepayment invoices.
• Keep the segment and division leadership team informed of important developments, potential problems and related information necessary for effective management.
• Present an objective opinion as input for business decisions based on facts, data and analysis.
• Help other employees understand how their choices and decisions will impact the financials. Identifies, communicates, and trains others on key business drivers.
• Perform related work as apparent and assigned.