Senior Cost Accountant

Job Title: Senior Cost Accountant

FLSA Status: Exempt

Department: Accounting

Reports to: Manager, Cost Accounting

Flex Work Eligible: This position qualifies for the Flexible Work Policy. Employees receive 50 work days annually to work remote. The initial amount of days is prorated for the first year based on start date.

GENERAL DESCRIPTION / PURPOSE:

The Senior Cost Accountant is responsible for organizing, analyzing, and reconciling Loram's cost data including manufacturing, project, and inventory accounting for assigned companies and inventory sites.

ESSENTIAL JOB FUNCTIONS:

Operational Excellence

• Maintain and support strong partnerships with manufacturing and supply chains to promote a collaborative understanding of Loram's financial information. Assist manufacturing and supply chain management with the annual budgeting/forecasting process.
• Responsible for the executive approval routing, approving/releasing, baselining, forecasting support, and variance analysis for manufacturing projects for assigned companies.
• Responsible for month-end general ledger entries, including but not limited to machine cost of sales, machine capitalizations, plant absorption adjustments, and inventory reserves.
• Responsible for general ledger account reconciliations for inventory, CIP/WIP, accrued cost of sales, and warranty reserves.
• Create and publish related month-end and quarterly reports.

Compliance

• Maintain standard cost system including posting controls, material costs, labor rates, overhead rates, and project cost/revenue elements.
• Complete the annual LIFO inventory calculation.
• Review and assist in establishing internal control procedures in the inventory and manufacturing areas.
• Reconcile perpetual inventory reports to the general ledger and other inventory-related general ledger accounts. Monitor cycle count activity and conduct regular cycle count audits.
• Optimization and Development of automated costing information and processes within the ERP system.
• Work directly with auditors on year-end audit requests for the inventory and manufacturing areas.

Global - International

• Provide corporate cost accounting guidance and support to Loram's global entities.

BEHAVIORAL COMPETENCIES:

• Building Partnerships
• High-Impact Communication
• Passion for Results
• Planning and Organizing
• Problem Solving
• Values Based

REQUIRED QUALIFICATIONS:

Education: Bachelor's Degree in Accounting/ Finance

Experience: 4 Years of progressive cost or project accounting experience using an ERP system in a manufacturing environment.

Knowledge, Skills, and Abilities:

Standard cost and overhead rate development.
Variance recognition and analysis.
Lead company initiatives.
Leverage experience to make recommendations.
Improve and automate processes.
Strong knowledge of relational databases (preferred SQL knowledge).
Advanced technical skills (Microsoft Excel, ERP systems).
Adaptable and accustomed to working in fast-paced environments.

*8 years or equivalent combination of education and experience

WORKING CONDITIONS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the role. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Travel up to 10%
• Office deskwork, requiring sitting, walking, using phone & computer
• May lift up to 30 lbs. occasionally
• Can tolerate variable and sometimes challenging conditions during visits or inspections of company equipment in a railroad environment.

Rev: September 12, 2022

Loram is proud to be an Equal Opportunity Employer of Minorities, Females, Protected Veterans, and Individuals with Disabilities.