Location: Cleveland,OH, USA
The Inventory Accounting Manager is responsible for overseeing and managing the inventory accounting process within the organization. This role involves supervising a team of three accounting professionals, ensuring accurate inventory valuation, and maintaining compliance with financial reporting standards. As an integral member of the finance team, the manager will lead efforts in reconciliation, and analysis, while also collaborating with cross-functional teams to optimize inventory management and improve financial performance. Key responsibilities include:
* Overseeing the month-end close processes related to inventory, ensuring accurate financial reporting.
* Conducting regular inventory reconciliations to identify discrepancies and ensure data integrity.
* Collaborating with supply chain and product management teams to monitor inventory levels, identify purchasing opportunities, provide insight into operational performance, and optimize processes.
* Supervising and mentoring accounting staff, providing training and guidance on inventory accounting practices.
* Preparing reports and analyses to support decision-making related to inventory management and valuation.
* Ensuring compliance with GAAP and internal policies related to inventory accounting.
* This position requires excellent analytical skills, experience in inventory management and the ability to perform at high levels in a fast-paced, dynamic environment.
Job Duties
* Responsible for monitoring and reviewing accounting transactions related to inventory moving average cost and standard costing valuation, scrapping and cycle counts for US and Canada operations.
* Responsible for accurate calculations and review process with Senior Management related to Excess and Obsolete, LIFO and Capitalized Warehousing reserves for US Service Centers, US Subsidiaries and Canada.
* Review and monitor Vendor rebate programs, ensure timeliness and accuracy for all vendor rebate reporting.
* Manage all accounting responsibilities for US & Canadian Rubber Shops relating to Production and Service Orders; identifying and researching WIP variances and ensure project revenue recognition is appropriate in accordance with company revenue recognition policy.
* Maintain and enhance processes within area of focus to adhere to Applied policies and procedures and possess ability to determine whether area of focus is in need of improvement to sustain overall compliance.
* Control owner responsible for SOX controls relating to Inventory and Vendor Rebate controls to ensure compliance with internal and external GAAP accounting and SOX auditing standards.
* Corporate Subject Matter Expert (SME) for subsidiary conversions from legacy systems to Corporate ERP (SAP) for all inventory, inventory reserves and vendor rebate processes.
* Collaborate closely with other departments or divisions matters of mutual concern and responsibilities.
* Support integration and data migration of acquisitions.
* Review and approve supporting journal entries and account reconciliations.
* Liaison with internal and external auditors on a quarterly and annual basis.
* Perform other duties as assigned or directed.
Finance Associate Ethical Conduct
The Finance group at Applied Industrial Technologies, Inc. or one of its subsidiaries, holds an important and elevated role in corporate governance. It is uniquely capable and empowered to ensure that stakeholders' interests are appropriately balanced, protected and preserved. Accordingly, financial associates are expected to adhere to and advocate to the following principles regarding individual and peer responsibilities, as well as responsibilities to the company, the public and other stakeholders.
* To act with honesty and integrity, avoiding actual or apparent conflicts of interest in personal and professional relationships.
* To provide constituents with information that is accurate, complete, objective, relevant, timely and understandable.
* To comply with rules and regulations of federal, state, provincial and local governments, and other appropriate private and public regulatory agencies.
* To act in good faith, responsibly, with due care, competence and diligence, without misrepresenting material facts or allowing independent judgment to be subordinated.
* To respect the confidentiality of information acquired in performing requisite duties except when authorized or otherwise legally obligated to disclose. Confidential information acquired while performing requisite duties in the course of Company work is not to be used for personal advantage.
* To share knowledge and maintain skills important and relevant to constituents' needs.
* To proactively promote ethical behavior as a responsible partner among peers within the work environment and community.
* To achieve responsible use of and control over all assets and resources employed or entrusted to the incumbent.
Education and Experience
* Bachelor's degree in Accounting or Finance is required; CPA or CMA preferred.
* Approximately 7 - 10+ years proven experience in manufacturing or distribution.
* Strong leadership and team management skills.
* Excellent analytical and problem-solving abilities.
* Effective communication skills and ability to collaborate with cross-functional teams to provide financial insights and support decision-making processes.
* Working knowledge of GAAP, financial reporting, SOX, and inventory valuation methods.
* Considerable experience in planning and project management, and in maintaining composure under pressure while meeting multiple deadlines.
* Skill in negotiating issues and resolving problems.
* Highly motivated, self-directed individual with the ability to work independently and take charge of critical issues.
* Prior experience with SAP and Blackline preferred.
* Proficient in MS Office, with strong Excel skills.
Applied Industrial Technologies (NYSE: AIT) is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. Our leading brands, specialized services, and comprehensive knowledge serve MRO and OEM end users in virtually all industrial markets through our multi-channel capabilities that provide choice, convenience, and expertise.
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, gender, sexual orientation, gender identity, age, disability, protected veteran status, marital status, medical condition or any other characteristic protected by law.
If you need accommodation for any part of the employment process because of a disability, please send an email to ...@applied.com or call 216-###-#### to let us know the nature of your request.