Cost Accountant

Precision Machining Group is hiring a Cost Accountant in Schaumburg, Illinois.
The Cost Accountant will be responsible for analyzing and maintaining cost accounting and inventory systems, assisting with the financial close process, analyzing changes in the product to determine effects on cost, analyze manufacturing costs and prepare appropriate reports, and monitor labor and inventory transactions to assure data accuracy.
Precision Machining Group is a customer-focused holding company serving the Oil & Gas, Aerospace & Defense, Valve, Fluid Power, and Construction markets. Although the capabilities of each of Precision Machining Group's businesses is different, the heart of what they do is the same – machine and deliver quality parts to customers on time, doing whatever it takes to "Get Every Part Right."

Key Responsibilities:

• Analyze and maintain cost accounting and inventory systems including product costing, inventory control, variance analysis and calculation of excess and obsolete inventory;
• Execute regular tasks relating to the monthly, quarterly, and yearly financial close process;
• Support the annual cost roll, reviewing new standards and their impacts on margin, inventory revaluation and capitalized variances;
• Analyze changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost;
• Monitor labor and inventory transactions, daily and monthly, to assure data accuracy;
• Initiate and monitor monthly cycle counts to ensure inventory accuracy, investigate variances, and resolve issues;
• Evaluate ROI of capital improvement projects;
• Performs new item cost roll-ups in ERP system;
• Analyze actual manufacturing costs and prepare periodic report comparing standard costs to actual production costs. Bridge the gap for over/under absorption with explanations;
• Maintain internal control policies and procedures and utilize best practices;
• Support estimating function of new and proposed product costs;
• Support Accounts Payable function;
• Providing management with reports specifying and comparing factors affecting prices and profitability of products or services;
• Responsible for performing special projects to improve process efficiency and performance;
• Support enhancements in Warehouse Management systems;
• Train production staff and other areas to understand the costing process;
• Actively participate in efforts to establish and promote a safe and healthy work environment. Follow policies, programs, and procedures for the reduction and elimination of work related accidents and provide feedback to promote safer work behaviors and conditions.

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Job Qualifications:

• Bachelor's degree in Accounting preferred
• 2+ years of Cost Accounting in a Manufacturing Environment

• Detailed-oriented, team player with an analytical mind, and good problem-solving capabilities;
• Excellent oral and written communication skills;
• Good time management, ability to multi-task, prioritize work and provide timely feed-back to management;
• Self-motivated, self-starter, ability to thrive in a fast-paced, dynamic, and demanding environment with a flexible approach towards changing work methods, deadlines, and variable workloads;
• Strong planning, organizational and problem-solving skills with attention to detail;
• Ability to work under pressure and to deliver to tight deadlines;
• Ability to work assigned shift and remain awake and alert during assigned shift is required;
• Reporting to work for assigned shift, maintaining a physical presence and performing assigned work for the duration of assigned shift is required;
• Strong mathematical skills, proficient with Excel.

Precision Machining Group was created in 2014 with the goal of acquiring ISO-9001 precision CNC Machining businesses considered market leaders by their customers and verified through third party surveys. With a collective 92 years in business and over 200 employees, each company manufactures low and high volume level production components to OEM’s in several verticals: agriculture, fluid power, material handling, industrial, oil & gas, and aerospace.

If you are interested in learning more about a career with Precision Machining Group as a Cost Accountant, apply today!