Controller

POSITION PURPOSE/MISSION:

The Controller is responsible for providing financial leadership and direction to Res’ business, including ensuring the accuracy and integrity of financial reporting, analyzing financial and operational results, partnering with Res’ President and other functional leaders to improve business performance, overseeing and developing the accounting team, maintaining strong internal controls, and managing and continuously improving the company’s accounting systems, processes, and policies.

ESSENTIAL DUTIES and RESPONSIBILITIES:

Financial Leadership & Business Partnership

• Communicate financial results each period to the leadership team, including performance versus budget, forecast, and prior year. Translate financial results into meaningful information and identify trends, risks, and opportunities requiring leadership attention.
• Provide guidance to the President and CFO regarding the application of resources to take advantage of growth opportunities, cost reduction activities, and process efficiency improvements.
• Partner with functional leaders to understand key financial and operational variances, identify root causes, and develop appropriate improvement actions.
• Provide visibility to profitability trends by customer, product, and job. Identify low-margin business and other profitability concerns for leadership review and action.
• Provide financial analysis to support pricing and quotation decisions, including expected margins, tooling pricing, capital investments, and other relevant financial considerations. Partner with the President and Sales leadership to evaluate significant pricing decisions.
• Provide financial analysis and ROI evaluation to support the justification of capital investments and track progress and financial performance of major capital initiatives.
• Lead the development and preparation of the annual budget and periodic financial forecasts, including sales, profitability, operating expenses, capital expenditures, working capital, and cash flow.
• Provide ad-hoc financial analysis and support as needed to the President, CFO, and other functional leaders.

Accounting & Financial Controls

• Lead the monthly and year-end financial close processes, ensuring timely and accurate financial statements, account reconciliations, accruals, journal entries, and supporting schedules.
• Ensure the accuracy and integrity of the company’s financial statements in accordance with generally accepted accounting principles (GAAP) and company accounting policies, including proper revenue recognition for engineering projects.
• Monitor the company’s cash position and provide weekly cash flow projections. Monitor working capital performance, including accounts receivable, accounts payable, and inventory, and identify opportunities for improvement.
• Oversee the company’s accounts receivable and accounts payable functions, ensuring appropriate controls, accuracy, and timely processing.
• Maintain strong internal controls over financial reporting and the safeguarding of company assets. Develop, maintain, and continuously improve accounting policies, procedures, and controls appropriate to the size and complexity of the organization.
• Oversee inventory accounting and valuation, including appropriate reconciliation and controls over raw material, work-in-process, and finished goods inventory. Provide financial oversight of physical inventory and cycle count processes and ensure appropriate treatment of excess, obsolete, and other inventory adjustments.
• Coordinate the timely preparation of all materials, schedules, reconciliations, and analyses required for the year-end financial audit.
• Prepare necessary information to support property tax filings, income tax return preparation, and other financial and regulatory compliance requirements.
• Provide financial oversight of payroll accounting and reconciliation activities, as applicable.

Manufacturing Finance & Operational Analysis

• Own the accuracy and effectiveness of Res’ product costing methodology, including updating standard costs on an annual basis.
• Provide analysis and education to other functional leaders regarding manufacturing cost drivers.
• Analyze significant manufacturing variances and operational cost drivers and partner with Operations and other functional leaders to identify opportunities to improve financial performance.

Team & Continuous Improvement

• Lead, coach, and develop the accounting team by establishing clear expectations, priorities, and accountability.

• Maintain open and continuous communication with the accounting team to raise awareness of companywide priorities and initiatives and progress toward goals.

• Build accounting team capability through coaching, cross-training, performance management, and development opportunities while maintaining appropriate segregation of duties and backup coverage for critical accounting functions.

• Manage the performance of accounting associates in accordance with Res’ performance management practices and partner with Human Resources regarding staffing, development, and compensation matters.

• Identify opportunities to improve financial processes, reporting, controls, and use of technology to increase efficiency and provide better information for business decision-making.

ORGANIZATIONAL RELATIONSHIPS:

The Controller reports to the Chief Financial Officer of DLSM, Inc. (a “related” company of Res) and serves as the primary financial leader supporting Res’ President and leadership team. This role is a key member of the Res Management Team and interacts closely with other functional leaders including Sales, Operations, Purchasing, Engineering, Quality, and HR.

QUALIFICATION REQUIREMENTS:

To perform this job 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.

Minimum Qualifications

• Bachelor’s degree in accounting, finance, or a related field.
• Seven (7) + years of progressive accounting and finance experience, including leadership experience within a manufacturing environment or auditing manufacturing companies.
• Understanding of product costing and cost drivers in a manufacturing environment.
• Demonstrated knowledge of GAAP, financial reporting, internal controls and financial closing processes.
• Advanced Microsoft Excel skills.

Preferred Qualifications

• CPA or CMA certification.
• Working knowledge of manufacturing processes including stamping, welding, and assembly.
• Experience working within a lean manufacturing, Toyota Production System (TPS), pull-system, or similar continuous improvement environment.
• Previous experience leading or developing an accounting team.

Behavioral Competencies:

• Business Partnership & Operational Acumen – understands how financial performance connects to operational activity. Builds productive relationships with non-financial leaders and uses financial information and analysis to influence sound business decisions.
• Organizing & Planning – has strong organizing and planning skills. Manages time wisely and effectively prioritizes multiple tasks.
• Communications – communicates concisely and clearly, can focus the Res Leadership team on the key points without getting lost in all the details. Effective at communicating financial information to people in non-financial roles.
• Problem Solving – not only identifies problems but also solves problems. Develops innovative solutions, acts decisively, and shows good judgment.
• Strategic Thinking – plans for and makes decisions within the framework of the company’s strategic intent. Knows and understands the factors influencing strategy (e.g., core competence, customers, competition, and the organization’s current strengths and limitations.)
• Process Improvement – identifies opportunities to streamline processes to gain efficiencies. Keeps things simple, doesn’t over-complicate processes. Doesn’t do things the same way just because they were done that way before.
• Assertiveness - willing to appropriately challenge assumptions and decisions, raise financial or business concerns, and provide an independent perspective even when that perspective may be unpopular.
• Initiative & Energy – is proactive and acts without being prompted. Sees a need, takes responsibility and acts on it. Able to maintain a fast pace and continue to produce.
• Ethical – acts in accordance with company values and beliefs.

Culture: Possess Res Values & Beliefs

Travel: Minimal.

Safety and Housekeeping: Belief in Res safety and housekeeping standards and procedures.