- 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.
- 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.
- 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.
- 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.
- 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.
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Financial Analyst - Vernon Hills, United States - Rust-Oleum
Description
Job DescriptionLocation: 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:
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.