Sr. Financial Cost Analyst at The HEICO Companies, LLC in Warrenville, Illinois

Job Description:

The Company

The Heico Companies (Heico) has a history of success. Since its founding over 40 years ago, Heico has grown from a single business to over 70 separate companies through a strategic acquisition and organic growth program. Heico reinvests most of its earnings back into the operating companies. Historically talented at restoring distressed companies, Heico strategically targets acquisitions that will complement its ever-growing portfolio of companies in manufacturing, construction, and industrial services.

These four core operations are organized into groups: Metal Processing Group, Construction Solutions Group, Applied Solutions Group, and Industrial Technologies Group. Once acquired, new Heico companies are assigned to a group and run on a stand-alone basis, allowing for great independence as well as the opportunity to share knowledge about markets, production processes, and management practices across other Heico groups and companies.

Heico continues to seek out new opportunities and maintain its standard of success. Heico has remained a privately held company since its creation and maintains a majority ownership in each of its operations, which generates more than $3.3 billion dollars in revenues. Many of our businesses are certified Woman-owned Business Enterprises (WBE).

More information about the overall organization can be found at www.heicocompanies.com.

The Position

The Sr. Financial Costing Analyst is a newly created role for the Finance team. Several years ago, Heico began a technology transformation program designed to transition all businesses onto a state-of-the-art Microsoft D365 ERP and Power BI data analytics platform. This position will leverage this investment by developing best-in-class standard costing processes and practices to be replicated across the enterprise. As these processes are replicated across the operating businesses the goal is to create real-time, on-demand customer and product profitability analysis. The role will have a very hands-on and analytical approach to cost accounting. The Sr. Financial Costing Analyst will report to the Director of Finance and will be located at our corporate office, 27501 Bella Vista Parkway, Warrenville, IL 60555.

Job Description

Primary Responsibilities

• Create/validate bill of material and routings at an operating entity level for the various manufacturing businesses in the portfolio


• Partner with the Operations and Engineering leaders at an operating company to review and analyze manufacturing value streams to ensure we are capturing and attributing all material and variable conversion costs to the appropriate products. This will include material handling rates, machine rates, direct labor rates and manufacturing overhead rates.


• Create reports to analyze material price and quantity variances, yield and scrap variances, material handling absorption variances, DL absorption variances, machine absorption variances and MOH absorption variances. All reports to be real-time and visualized in Power BI.


• Develop reporting to evaluate total company standard costs to actual costs to determine when and which standards need to be adjusted to eliminate variances


• Advise operating company executives and corporate management on appropriate costing methodologies and recommendations to improve operating efficiency


• Partner with corporate management to establish a common framework for all standard costing practices and reporting


• Work with the Director of Finance to create Group-level and Corporate-level dashboards to review consolidated standard cost analysis and customer profitability


• Support the ongoing strategic planning, quarterly forecasting, and annual plan process


• Assist in the preparation of monthly reporting and presentations to senior management related to cost of goods reporting and financial results

Job Requirements

Education

• Four-year Bachelor's degree in Accounting or Finance


• CMA Preferred

Skills & Relevant Work Experience

• 6+ years of progressive cost accounting experience


• Effective knowledge of financial concepts


• Familiarity working with data visualization software a plus (Microsoft PowerBI, Tableau, etc.)


• Experience in a manufacturing environment


• Strong written and verbal communication skills


• Knowledge of Microsoft D365 or Microsoft AX and Consolidation (BPC) platform a plus


• Time management and organization skills with proven ability to multi-task


• Demonstrated ability to manage time and prioritize projects to meet deadlines


• Travel up to 30% or more as required for the role

EOE M/F/D/V