Senior Cost Accountant

Job Description

Job Description

Title : Cost Accountant 

Employed By: DMG MORI Advanced Manufacturing & Innovation Center (DMAMIC)

Reports to: DMG MORI USA/VP of Accounting & Finance

Location : 1300 N Branch St, Goose Island, Chicago, IL 600

Hours: Monday through Friday, 8:30am to 5:30pm

Classification : Exempt

Travel: 5%-10%

Employment is conditioned on DMG MORI's ability to obtain and maintain any necessary export licensing.

Essential Job Functions :

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skills, and abilities required. Reasonable accommodation may be made to enable qualified individuals with disabilities to perform the essential functions. 

The Cost Accountant will be responsible for establishing and maintaining accurate cost accounting practices for a manufacturing operation that produces precision parts while also executing government‑funded and internally commissioned R&D contracts. This role is critical to ensuring cost transparency, compliance with government contracting requirements, and timely financial reporting across production and R&D activities. The ideal candidate will bring strong manufacturing cost accounting expertise, experience with government contracts or regulated R&D environments, and the ability to partner cross‑functionally with engineering, operations, and finance leadership.

Primary scope of position includes but is not limited to:

Cost Accounting & Manufacturing Support

• Develop and maintain standard cost systems for parts production, including material, labor, overhead, and machine‑time allocations
• Analyze manufacturing variances and provide clear explanations to operations and finance leadership.
• Support inventory valuation, WIP tracking, and absorption costing in accordance with IFRS.
• Partner with operations and engineering to ensure accurate routings, BOMs, and cost drivers.

R&D and Government Contract Accounting

• Track and allocate costs for R&D projects, including government‑funded contracts, ensuring proper segregation between allowable and non‑allowable costs
• Support cost‑plus and commission‑based R&D contract structures (e.g., cost + markup arrangements).
• Maintain documentation to support compliance with applicable government contracting requirements (e.g., audit trails, cost substantiation)
• Assist with preparation of financial reports and support for internal and external audits related to R&D activities.

Financial Reporting & Controls

• Support monthly close activities related to cost accounting, including journal entries, accruals, and reconciliations.
• Prepare cost‑related analyses for management, including budget‑to‑actual and project profitability reviews
• Assist in establishing and improving internal controls over cost accounting, inventory, and project accounting.
• Contribute to year‑end audit readiness and respond to auditor inquiries.

Cross‑Entity & Shared Support (as applicable)

• Provide limited cost accounting support to affiliated manufacturing entities under intercompany or cost‑allocation agreements (e.g., partial time rebill arrangements)
• Collaborate with corporate accounting, tax, and finance teams on intercompany cost allocations and reporting alignment

Minimum Requirements : 

• Must be a U.S. citizen.
• Bachelor’s degree in Accounting, Finance, or related field
• 5+ years of experience in cost accounting within a manufacturing environment
• Strong understanding of standard costing, variance analysis, and inventory accounting
• Experience supporting R&D activities or project‑based cost tracking
• Advanced Excel skills; experience with ERP systems in a manufacturing setting

Preferred Requirements : 

• Experience with government contracts, government‑funded R&D, or regulated cost environments
• Familiarity with cost‑plus or reimbursable contract structures
• Prior audit support experience (internal or external)
• CPA, CMA, or progress toward certification
• Experience with Deltek and CostPoint

Key Competencies : 

• High attention to detail and strong analytical skills
• Ability to translate complex cost data into actionable insights
• Strong documentation discipline and compliance mindset
• Effective communicator with finance, operations, and engineering stakeholders
• Comfortable working in a growing, evolving manufacturing and R&D environment

Work Environment : 

General office environment will be experienced. There will be periodic exposure to manufacturing environments which may present possible hazards such as noise, electricity, chemicals, heavy equipment, and other automated and manual machinery.

Physical Demands:

Frequent: Sitting at desk, utilizing computers and phones. Repetitive hand, wrist, arm, and shoulder movements.

Periodic: Standing, walking, bending, and stooping.

Occasional: Lifting, pushing, and pulling objects.