Sr. Cost Accountant

Or client, a respected manufacturing company in Chicago's western suburbs, is looking for a Sr. Cost Accountant to join their team. This role offers great cross-functional exposure while focused on driving the accurate implementation and maintenance of standard costs across the business. Ideal candidates will possess a good understanding of standard cost development, as well as strong organizational and analytical skills.

Duties/Responsibilities:

• Lead the cost accounting function by managing, refining and documenting the cost accounting process in collaboration with the Operational Accounting team.
• Develop and manage product costing methodologies, including labor and overhead rates, and ensure they are applied correctly and consistently.
• Own process of annual standard cost validation and updates
• Analyze inventory movement and valuation and provide information and recommendations on financial impacts related to changes in inventory
• Identify opportunities to streamline cost accounting processes and improve the efficiency, accuracy, and timeliness of financial reporting.
• Support budgeting and forecasting process by providing and validating accuracy of cost data
• Build estimates of new and proposed product costs and integrate with product pricing estimating process.
• Oversee month-end close related to production costing and inventory including the review of journal entries and focus on balance sheet reconciliations.
• Support operations personnel in their objectives to increase efficiency and reduce costs.
• Act as a liaison between finance and operations to quantify and drive understanding of impacts of operational changes to financial performance, especially as compared to standard cost
• Comply with Generally Accepted Accounting Principles (GAAP) for financial statements.
• Other duties as requested.

Required Skills/Abilities:

• Bachelor’s degree in accounting, finance, engineering, analytics or related field
• 5-7 years of cost accounting experience in manufacturing environment with strong understanding of manufacturing process, inventory and cost methodology
• Experience developing and implementing standard costs
• Analytical thinker with strong conceptual and critical thinking skills
• Strong communication skills and comfort collaborating with operators across all levels of the organization with focus on building and fostering relationships
• In depth understanding of P&L and standard financial statements.
• Experience in developing and maintaining labor and overhead standards.
• Meticulous attention to detail with superb organizational skills.
• Ability to create and analyze data to help the business make decisions.
• Ability to work independently and as part of a team.
• Excellent report-writing skills.
• High proficiency in Microsoft Excel.
• Proficiency in ERP with strong ability to navigate subledger activity, reporting and other queries.
• Self-motivated and demonstrates initiative and strong work ethic