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Business Unit Controller
Job
Confidential
Buffalo, NY (In Person)
$112,500 Salary, Full-Time
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Job Description
Our leading machining and fabrication manufacturing company is a market leader in the industry, with annual revenues of $50 million. We pride ourselves on delivering high-quality products and services to our clients, and we have built a strong reputation for innovation, precision, and customer satisfaction. As we continue to grow and expand our operations, we are seeking an experienced and talented individual to join our team as a Business Unit Controller. Job Overview The Business Unit Controller will be a key member of our finance team and will play a critical role in managing and overseeing all financial activities of the company. This position requires strong financial acumen, diligence, and the ability to provide strategic guidance to senior management. The Business Unit Controller will report directly to the Chief Financial Officer (CFO) and may have other financial professionals to manage.
Responsibilities:
1.Financial Planning and Analysis:
a. Support the CFO in development and implementation of financial planning and forecasting processes to support the company's strategic goals and objectives. b. Prepare and review monthly, quarterly, and annual financial reports, including budget vs. actual analysis, variance analysis, and key performance indicators (KPIs). c. Identify and communicate financial risks and opportunities to senior management and recommend appropriate actions to drive financial performance. 2.Financial Reporting and Compliance:
a. Ensure timely and accurate preparation of financial statements in accordance with Generally Accepted Accounting Principles (GAAP) as directed by CFO. b. Support the CFO & Corporate Controller in the preparation and filing of all required financial reports and tax returns, ensuring compliance with applicable laws and regulations. c. Maintain internal controls as designated by the CFO to safeguard company assets and ensure the integrity of financial data. d. Manage and oversee all aspects of site manufacturing financial transactions, including accounts payable, accounts receivable, payroll, monthly financial reporting, inventory, and general ledger entries. e. Perform detailed balance sheet reconciliations and ensure accuracy of supporting documentation f. Support COGS calculations, including materials, production costs, and inventory adjustments g. Maintain and reconcile inventory balances across raw materials and finished goods h. Investigate and resolve discrepancies between inventory records, production reports, and financials. Partner with operations to improve inventory tracking and overall accuracy. 3.Cash Flow Management:
a. Support the development and implementation of cash flow forecasting models to effectively manage working capital and liquidity. b. Monitor and analyze cash flow trends, identify potential risks and opportunities, and recommend appropriate actions to optimize cash flow. c. Responsible for processing weekly vendor payments and managing AP priorities. d. Responsible for the accounts receivable process, including escalations for past due payments and new customer setup. 4.Budgeting and Cost Control:
a. Support the annual budgeting process, working closely with the CFO and senior management and department managers to develop detailed budgets and financial targets. b. Monitor and analyze actual performance against budget, investigating and explaining variances. c. Help identify and implement cost control initiatives to maximize profitability and efficiency. 5.Financial Systems and Process Improvement:
a. Support and make recommendations to enhance financial systems, processes, and controls to improve efficiency and accuracy. b. Support and recommend automation initiatives to streamline financial reporting and analysis. c. Stay updated on industry best practices and trends in financial management and recommend and implement relevant improvements. 6.Team Management:
a. Provide leadership and guidance to the finance team, fostering a culture of continuous learning and professional development. b. Set performance goals and objectives, conduct performance reviews, and provide regular feedback and coaching to team members as required.Qualifications:
- Bachelor's degree in Accounting, Finance, or related field. A Master's degree or CPA certification is strongly preferred.
- Minimum of 8-10 years of progressive finance and accounting experience, with at least 5 years in a leadership role.
- Strong knowledge of GAAP and financial reporting requirements.
- Proven experience in financial planning and analysis, budgeting, and cash flow management.
- Excellent analytical and critical thinking skills, with a keen attention to detail.
- Advanced proficiency in financial modeling and analysis tools.
- Experience in manufacturing or industrial sectors is highly desirable.
- Proficient in using financial software and ERP systems.
- Strong leadership and team management skills, with the ability to motivate and develop a high-performing team.
- Excellent communication and people skills, with the ability to effectively collaborate and communicate with stakeholders at all levels of the organization.