Accountant IV - MassCor

State of Massachusetts - Milford, MA

Full-time - Mid Level

Milford, MA

Executive, Legislative, and Other General Government Support

About the position

The Cost Accountant position at the Department of Correction (DOC) is responsible for managing financial operations within MassCor Fiscal Services. This role involves collaboration with various teams to analyze budgets, accounting, finance, and procurement processes, ensuring compliance with regulatory requirements and accounting standards. The incumbent will work closely with incarcerated individuals and must demonstrate strong analytical, decision-making, and supervisory skills.

Responsibilities

• Collaborate with operations teams for inventory evaluation and market cost analysis.
• Collaborate with Shop Managers and Inventory Control Specialist to analyze shop variances and review cycle count adjustments.
• Implement and enhance cost accounting policies, procedures, and internal controls to comply with regulatory requirements and accounting standards.
• Analyze and reconcile all balance sheet accounts related to manufacturing and inventory.
• Responsible for the annual standard cost sheets and improving standard costing process.
• Provide cost estimates and create new product IDs in ERP system.
• Review sales orders to ensure finished goods are priced at department standards.
• Monthly review of raw material waste.
• Prepare inventory and Cost of Goods Sold analysis and make recommendations to management teams based on findings.
• Research and reconcile all discrepancies in inventory.
• Monitor and control inventory valuation, including write-offs, adjustments and reserves.
• Develop monthly and annual forecasts, providing insight on potential cost drivers and fluctuations.
• Ensure accuracy and integrity of cost accounting system and oversee any required maintenance or improvements.
• Oversee inventory turnover rates and make recommendations to optimize inventory levels.
• Calculate and track all overhead costs and report them, building costs into standard pricing of finished goods.
• Analyze Return on Investment on fixed assets and make recommendations on future fixed asset purchases.
• Understand product-related variances and communicate with management to identify and resolve issues.

Requirements

• Four years of full-time, or equivalent part-time, professional experience in accounting or auditing.
• At least two years of experience in a supervisory, administrative or managerial capacity.
• Advanced computer skills utilizing spreadsheet and database software, especially with Microsoft Office products Excel and/or Access.
• Excellent organizational, analytical, and problem-solving skills.
• Excellent oral & written communication skills with the ability to present facts & recommendations to senior staff.
• Ability to work on multiple tasks and/or projects concurrently.
• Ability to work independently and collaboratively.
• Knowledge of the principles and practices of supervision.

Nice-to-haves

• Experience working within databases such as the MMARS automated accounting systems and documents and Warehouse queries.
• Ability to understand and apply the laws, rules, regulations, policies, procedures, standards, guidelines, and specifications governing assigned unit activities.
• Ability to work with incarcerated individuals within correctional institutions.

Benefits

• Comprehensive employee benefits package including health insurance, retirement plans, and paid time off.