Job SummaryResponsible for the management and direction of day-to-day operation of the accounting system; provide accounting, planning, tax, and financial reporting services; make decisions concerning accounting treatment of site financial transactions: provide analysis of operations, budgets, and major investments. Act as a consultant to the plant on all financial aspects of the plant operations. Provide site leadership on annual operating plan & budget, month-end and year-end closings, and monthly reporting requirements. Provide leadership for development and maintenance of internal controls. Ensure all Capital appropriation Requests for the plant have appropriate accounting treatment and are well written, financially justified where appropriate and auditable. Provide oversight and management to the Divisions’ invoicing and receivables.
Location: Huber - Broken Bow, OK
Monthly Close and Reporting: 1. Manage and coordinate the monthly financial closing process to ensure accurate and timely closings. Ensure that all closing procedures are followed. Prepare and review journal entries. Promptly review and resolve all financial issues during close. Monitor the status of various accrual accounts for the mill to ensure that the accruals are properly stated at the end of each month. Prepare or review monthly reconciliations of balance sheet accounts including taking corrective actions, if necessary. Prepare or review the reconciliation of the maintenance sub-system (Tabware) to the General Ledger. 2. Provide Operations and Finance Vice-Presidents, Plant Manager, Sector Controller in Charlotte, North Carolina, and other plant staff with operating and financial reports on a timely basis. Initiate new and maintain existing reports as necessary. Execute special studies and projects and provide service and assistance as required. Prepare monthly variance analysis including analysis of actual results to forecasts, OP&B and prior periods. Breakout raw material variances into base components of volume, mix, usage, and price, using the variable variance module. 3. Responsible for leading the physical inventory process at the mill. Coordinate the monthly physical inventory counts for raw materials, operating supplies, and finished goods. Establish documented inventory procedures and train inventory personnel. Ensure that physical inventory counts are accurate. Approve final counts and make adjustments. Monitor plant inventory levels including: wood (stumpage and log yard), finished goods, and spare parts. 4. Establish site accounting policies and procedures and keep abreast of problems or changes that might necessitate assistance. 5. Hold plant cost meeting each month after closing. Budgeting and Forecasting: 1. Assist the Plant Manager with the OP&B and five-year Forecast. Work closely with managers to correlate financial aspects with business sector strategy and implementation. 2. Coordinate the development of the plant monthly forecasts, review for accuracy and provide analysis to support. Track expenses, discuss spending expectations with managers monthly and make managers aware of major expenditures. Revise plant financial & operational forecasts monthly in TM1. 3. Coordinate the preparation, management and control of normal budgetary expenses for the plant. Meet with department managers at beginning of OP&B process, justify requests for increases in budget spending, update TM1. Update all product specs in the Variable Cost model, build production volume budget, and update pricing and usage components. Establish headcount budget with sector, build labor rate model, and establish inherent overtime. Review preliminary operating budgets with departments and plant manager. Capital Projects 1. Assist with the preparation and analysis of appropriation requests for capital expenditures and major repair projects. Review all plant capital project requests and provide analysis of cost and benefits including the EVA impact. Ensure that they are accounted for correctly, cost justified as appropriate and auditable. 2. Lay out monthly capital cash flow using critical project list and send to Charlotte. 3. Publish a plant capital project status report to all project and department managers. 4. Initiate project close out form, review spending and outstanding POs, and initiate post project review. 1. Provide financial analysis services at each gate-keeping step in the new product development process for “product teams” as assigned. Develop in-depth knowledge of customers, product applications, information technology needs, product production and customer service cost, product profit and lost statements, planning and budgeting, and variance analysis. 2. Responsible for effective product cost system. Gather and compile cost data required for management decisions concerning production, cost, and project improvement. Collect, calculate, analyze, and summarize cost data. Maintain cost control system and prepare cost reports. 3. Continuously seek cost reductions in an effort to achieve "best cost" status for the products we produce. Calculate and quantify cost savings, especially for Six Sigma projects. 4. Using the cost system, provide prompt analysis (turnaround in hours) of the cost to make tweaks to existing products based on customer requests. 5. Provide accurate input into the EBIT by Product Line TM1 databases and recommend improvements to ensure profit maximization for effective management team decision-making. As the database grows to support customer profitability analysis, provide the necessary data and support. Internal Control & Other: 1. Work with internal auditors, external auditors, corporate staff departments, and others as required. 2. Ensure that good internal controls are in place. Report weaknesses to the Manager of Accounting, Tax and Reporting or Sector V.P. Finance and suggest improvements, best practices and remedies. Perform internal audits of wood procurement and monitor receipt and payment of wood invoices. Watch for violation of separate duties in critical areas and recommend ways to redivide duties. Ensure secure storage of spare parts and monetary assets. Assist the Corporate Internal Audit Department by participating in internal audits of other sectors within J M Huber Corporation, as necessary. 3. Keep abreast on current developments in finance, management and computer technology as to be able to suggest new approaches for increased office or plant efficiency. 4. Prepare the year-end audit work papers and interact with internal and/or external auditors in the year-end audit of the accounting records. 5. Review the tax returns for property, sales & use, etc at the mill, to insure that the company is in compliance with state and local laws and that the company incurs the lowest tax liability possible. Prepare plant sales & use tax filing monthly. Prepare Forest Products Use Tax quarterly. 6. On a weekly basis, monitor the status on the “Invoice on Hold” report to ensure that invoices that have been put on payment hold are timely resolved and removed from the report. 7. Prepare census reports. 8. Other duties as required by Manager. Major Challenges: 1. To develop and maintain a working knowledge of plant operations to ensure that inventory and cost systems are relevant, accurate and revised as necessary to provide reliable management information. 2. To be an integral member of a multi-functional team this will require a knowledge base of several functional areas. As a team member, be involved in finance, product development, research and development, sales and marketing, engineering, operations, information technology and human resources. 3. While being involved in several cross-functional teams, must ensure the day-to-day accounting responsibilities are satisfied. Must have excellent skills in leading, training, and delegation. 4. To develop timely and accurate business reports used in significant business decisions. 5. To manage information flow assuring timely and accurate reporting and providing Plant Manager and others with financial data necessary to operate an efficient and profitable business. 6.To manage the Divisions Receivables ensuring continuous improvement towards an optimum Days Sales Outstanding. Decision Making Authority: Responsible for the plant’s internal controls and operating procedures. Develop and analyze the budget for operating expenses and capital investments. Review, audit, and approve all capital investment projects for the business sector. Team member for the development and implementation of business strategies. Specialized or Technical Knowledge/Skills: • Individual should be thoroughly knowledgeable in all areas of: finance, general accounting, managerial and cost accounting, manufacturing operations, local and state taxation, auditing, capital budgeting, financial analysis, business reporting, economic value added, information technology, and all corporate policies and procedures. • A four-year degree in Accounting from an accredited university or college and 3-5 years experience in cost accounting in a process manufacturing environment is required