• Cost Accountant

    Posted Date 1 week ago(1/16/2019 11:55 AM)
    Job ID
    # of Openings
    IMI Precision Engineering
  • Overview

    IMI Precision Engineering is a world leader in motion and fluid control technologies.  Wherever precision, speed and engineering reliability are essential, we deliver exceptional solutions which improve the productivity and efficiency of our customers’ equipment.


    Part of IMI plc, we have a sales and service network in 75 countries, as well as manufacturing capability in the USA, Germany, China, UK, Switzerland, Czech Republic, Mexico and Brazil. We support this with our global centers of technical excellence, and facilities for CFD design and R&D testing. 

    Reports To:     FinanceDirector/OperationsDirector      
    Location:         Farmington, CT

    The Cost/Staff Accountant in Farmington, CT will apply principals of cost accounting to enhance accuracy and conduct studies which provide detailed cost information not supplied by general accounting systems. The Cost/Staff Accountant will need to be skilled in the extraction of dataand interpretation of results and is able to translate this information todrive operational improvements. The Senior Cost Accountant will partner and coach multi-functional teams and lead projects to improve performance and internal controls.  This position will also be a shared resource with operations for tasks including, but not limited to, investigating and determining root cause of inventory transaction issues, validating routing costs and productivity gaps.  Will be required to work under minimal supervision with wide latitude for independent judgment. 


    To perform the Cost/Staff Accountant position successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

    • Ability to efficiently extract datafrom ERP system and to effectively analyze said data to maintain and develop operational Key Performance Indicators, including but not limited to productivity, efficiencyand utilization reporting and to communicate areas for improvement to theoperational teams and leadership
    • Manage standard cost process in line with corporate policy – fully responsible for setting and maintaining the accuracyof standard costs
    • Management of new item cost roll-ups in local ERPsystem – from ECO/ECR process and ad-hoc as necessary – and develop appropriate internal processes
    • Develop and create reports to better assistwith Inventory Analysis, Work In Process Reviews, Margin Analysis, VarianceAnalysis
    • Ongoing analysis of margins, variances,inventory in order to drive better decision making in the business
    • Analyzes actual manufacturing costs and prepares ongoing report comparing standard costs to actual production costs with and to liaise with manufacturing teams to address areas of improvement
    • Partners with operational teams toaid in the financial justification of capital investments
    • Provide support to Procurement and Engineeringduring evaluation of make-buy decisions and new product costing
    • Provide data to Pricing for margin review process and methodology to find areas where margins can be enhanced or improvedby price increases and/or obsolescing/substitution.
    • Management of Obsolete Inventory Process toinclude accurate application of policy; reporting; journal entries and administration of management overrides
    • Partner with Supply Chain to continually improve the cycle count process with the goal to eliminate annual inventory count
    • Identifies trends and recommends improvements throughout the value stream using a balance score card approach.
    • Provides management with reportsspecifying and comparing factors affecting prices and profitability of productsor services.
    • Conducts special studies on an ad-hoc basis to analyze complex financial actions and to prepare recommendations for policy,procedure, control or action.
    • Other duties as assigned.


    Education and Experience

    • Bachelor’s Degree in Accounting or related field
    • Five (5) to seven (7) years in Cost Accounting or equivalent education and experience
    • Experience in manufacturing environment is required

    Skills and Competencies

    • Excellent analytical skills – proficient in data extraction and manipulation – particularly in excel, visual access and SQL/Crystal
    • Self-motivated, proactive individual capable of working as a member of a team, leading teams andoperating independently
    • Ability to effectively manage multiple tasks simultaneously, adaptable and flexible to a changing environment
    • High level of integrity and the demonstrated ability to handle sensitive and confidential information in a professional manner.
    • Excellent presentation/facilitation, organizational, analytical, and written/oral communication skills.
    • Ability to work in a fast paced, growth-oriented and time-critical environment. 

    Computers and Technology

    Proficient in MS Office Suite (Word, Excel, PowerPoint and Outlook) is required.

    Certificates and Licenses

    Six Sigma, CPA or CMA is preferred, continuous improvement exposure is a plus


    The IMI Code of Conduct

    All employees are expected to represent the values and maintain the standards contained in The IMI Code of Conduct.  The IMI Code of Conduct can be found at


    IMI Precision Engineering is an Equal Opportunity Employer, Gender/Minority/Veterans/Disabled.





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