JOB PURPOSE:
Reporting directly to the Senior Finance Manager for North America, the Operations Finance Manager (OFM) is responsible for the day to day financial activities of 8 to 12 operating plant locations that are a mix of service contracts and process manufacturing facilities.
The OFM is the business partner with the operations group and is responsible for more complex cost analyses & audits associated with the plant functions. The OFM applies principles of cost accounting to conduct studies which provide support to the operations team by performing the following duties.
KEY FOCUS AREAS:
- Maintain the quality and integrity of the financial reporting processes and ensure timely production of the reported results
- Delivering an effective Financial control environment with the operating locations, with specific focus on the timeliness of site information, and the accuracy of the P&L.
- Assists operations with the financial aspects of operational/commercial strategic projects. Share business knowledge to help provide solutions to business related cost issues.
- Close and effective communication with the financial team leadership to ensure current and future business trends are reported.
- Will travel on an as needed basis to Quebec and Ontario provinces.
- Will have responsibilty for a few direct reports (Site Administrators).
RESPONSIBILITIES & DUTIES:
Business Partner
- Defines key performance indicators per business unit financial activities and assists in developing and attaining operational targets. Follow up and reporting of the implementation of KPIs, analyzing trends and variance against target.
- Assists the sales and operations group in the development of cost estimates of new products or services.
- Analyzes cost information for use in controlling expenditures. Communicates potential cost issues with operations management.
- Provides management with reports specifying and comparing factors affecting prices and profitability of products or services.
- Assist site management / operations with reviewing monthly financial statements.
Financial Planning & Analysis
- Compiles cost information to be used in the operating budget preparation. The OFM works directly with the commercial, operations, and asset management group to develop the annual plan and quarterly forecast. Update Hyperion Planning with the latest forecast/plan information.
- Provide weekly financial projections utilizing the internal forecasting tool.
- Manage the development of standard costs for the manufacturing sites. Plans, studies, and collects data to determine costs of business activity such as raw material purchases, inventory, and labor.
- Analyzes actual manufacturing costs and prepares periodic reports comparing standard costs to actual production costs.
- Provide ad hoc financial analysis as requested by operations and finance management.
- Provide regular updates on the projection of capital expenditures.
- Understand site service contracts in place and review annual price escalation clauses annually if applicable
- Optimize working capital by engaging with the team to manage inventory levels, and accurately forecasting accounts receivable
- Act as the gatekeeper for asset transfers, disposals, and authorizations for capital investments.
Month End Reporting:
- Participates in Month-End Closing procedures by ensuring accurate accounting of all revenue and cost in the month, reviewing site financials to detect any discrepancies and anomalies, and prepares detailed comments of the month results in Sales and Costs comparing actual numbers with Plan & latest Forecast financials by business unit activity.
- Analyze compliance reports and identify areas of improvement.
- Help to identify and resolve technical US GAAP and other accounting related issues as they arise.
- Identify process or cost issues and assist operations in the development of a remediation plan.
- Prepare bridges detailing the nature of variances against projections and provide margin analysis.
Financial Controls:
- Support the integrity of the financial results through rigorous review of the site P&L.
- Ensure appropriate financial control processes are in place across the sites.
- Complete bi-annual spare parts inventory for each site, with one count being in person.