The Plant Accounting & Reporting Analyst is responsible for the integrity and accuracy of Costing of all Lubricants Finished Product and Raw Materials, and the accurate maintenance of these costs in SAP, while ensuring that all stock movements through the Inventory sub-ledger is reflected at the correct cost and is valid, complete and accurate for the respective manufacturing plant.
Additionally, the Plant Accounting & Reporting Analyst is responsible for the month-end GL close activities related to stock valuation, Cost of Goods Sold (Cogs) variance analysis, and presentation of the monthly Cogs results to the USA Lubricants Business. The role interfaces with the accounting team in the offshore shared-service center on Costing and Inventory issues. There is a strong requirement to be integrally involved in any process improvement initiatives and projects that could streamline the recording and reporting of Cogs and Inventory Transactions.
This role is located in Wayne, NJ and is the central finance representative at the manufacturing plant, and will enforce robust financial and operational controls.
- Full understanding of Product Cost Transfer Pricing (PCTP) methodology to ensure correct application and reporting of Cogs.
- Work closely with the Supply Chain performance analyst to maintain PCTP toolkit for the respective location to ensure correct rates for manufacturing, logistics, storage and handling, etc.
- Develop insightful Management Information to enable sound decision making by key business stakeholders. This includes the monthly transfer price validation, costing error management, raw material and filling yield, production losses, etc.
- Conducts thorough cost analysis which includes analysing purchase price variances and the daily Moving Average Price Exception Report Analysis.
- Maintain and coordinate monthly performance reporting with insights into the actual reported results. This includes transparency in explaining all over/under recoveries for the plant.
- Support Global Business Service Center on month-end GL Close for matters relevant to the plant. Examples are in-transit inventory resolution, process order variances.
- Central finance representative at the manufacturing plant and plays a key role in providing dedicated finance support to the plant. Provides necessary coaching and guidance based on the functional expertise relevant to financial and operational controls. Examples are demurrage, logistics costs, in-transit stock monitoring, vendor consignment inventory.
- Physical inventory verification for the plant to validate the book stock record, across all types of inventory such as raw materials, WIP, finished goods, component packaging. This will be required for associated storage locations too.
- Drive the action with Supply Chain on disposal of slow moving and non-saleable product in a timely manner.
- Responsible for accurate and complete capitalization of Fixed Assets by the operational date and proactively track delays in capitalization. Maintains strict control on Assets Under Construction tracking, Fixed Asset verification, and Fixed Asset Register maintenance.
- Have clear understanding of Finance Memoranda supporting Assets Under Construction to track timely capitalization and spend against sanctioned value.
- Appropriately trigger impairment review for assets no longer in use at the plant.
- Provide backfill and cover for the USA Accounting & Reporting team to enhance business continuity resilience.
- Lead on business process mapping, which will support the standardization, automation and improvement of processes and reporting systems across the business.
- Assist with projects and requests to support value-add to the lubricants business and shared-service center.
Accounting, Cost Accounting, Finance Degree/CIMA, or equivalent required.
- Minimum 5 years relevant experience in Cost accounting in a manufacturing environment.
- Strong analytical and financial skills are critical, with proven experience in analysis and interpretation of financial data key.
- Highly motivated and high performing, with the ability to present a structured, methodical approach to problem solving.
- Track record of supporting Continuous Improvement in a current or prior business/professional roles.
- Advanced knowledge of Microsoft Office, particularly Excel.