Financial Analyst - Cost Accounting
JOB DESCRIPTION
Location: Vernon Hills, IL
Department: Finance & Accounting
Reports To: Supervisor, Financial Analysis & Accounting
Direct Reports/Manages others: No
Hybrid Schedule: Our hybrid work environment includes two (2) remote days/week.
Rust-Oleum Corporation is a worldwide leader in protective paints and coatings for both home and industry.
We offer a wide range of products including decorative fashion paints, durable industrial roof repair coatings and, of course, our famous rust-fighting formula that started it all.
We are seeking a talented Financial Analyst with 1-2 years of experience to join our dynamic team.
The primary focus of this role will be on inventory management, with an emphasis on managing excess and obsolete (E&O) inventory, collaborating across departments, and standard costing of raw materials and components.
The successful candidate will play a vital role in optimizing our inventory processes and ensuring accurate financial reporting.
Responsibilities:
E&O Inventory Management: Analyze and monitor excess and obsolete inventory levels.
Work closely with the procurement and production teams to implement inventory reduction initiatives.
Regularly review and update E&O inventory reserve and update based on RPM policies.
Act as a liaison between finance and other departments to provide financial insights and support decision-making.
Standard Costing & Month End Close: Establish and maintain standard costs for raw materials and components.
Analyze and review standard costs to ensure accuracy and relevance.
Assist in the development of cost-saving initiatives and process improvements related to standard costing.
Assist with cost estimates for new and existing business opportunities.
Work with operations team to ensure all accruals are booked.
Create biweekly inventory and cost reports for the business leaders.
Physical Inventory Audits: Plan and execute periodic physical inventory counts.
Coordinate with operations teams to ensure accurate and timely inventory counts.
Analyze discrepancies and investigate root causes of inventory discrepancies.
Implement corrective actions to address inventory discrepancies and improve inventory accuracy.
Prepare documentation and schedules for internal and external audits related to inventory.
Participate in audit meetings and provide support to auditors as needed.
Address audit findings and implement recommendations to strengthen internal controls and ensure compliance with accounting standards and regulations.
Travel: Up to 25% travel may be required for this role, including visits to regional offices, suppliers, and manufacturing facilities as necessary to support inventory management initiatives and audits.
Qualifications:
Bachelor's degree in finance, Accounting, Economics, or related field.
1-2 years of experience in financial analysis, preferably with a focus on inventory management.
Strong analytical skills with the ability to interpret financial data and trends.
Proficiency in Excel and other financial analysis tools.
Excellent communication and interpersonal skills, with the ability to collaborate effectively across departments.
Knowledge of standard costing principles and inventory accounting practices is preferred.
Detail-oriented with a commitment to accuracy and data integrity.
Ability to thrive in a fast-paced environment and manage multiple priorities effectively.
From big benefits to small, we take care of our associates! After 30 days of employment, you will be eligible for a benefits package that includes medical, dental, life, disability and business travel insurance, flexible spending accounts, EAP, stock purchases and vacation/sick days/parental leave.
We also offer a 401(k) plan after three months of employment.
Associates are vested in the RPM Pension plan after completing five years of service.
Rust-Oleum offers 9 paid holidays and one floating holiday per year.
You are also eligible to earn three weeks of vacation on an annualized basis.
Rust-Oleum is an equal opportunity employer.
Employment selection and related decisions are made without regard to sex, race, age, disability, religion, national origin, color, or any other protected class.Apply for this ad Online!