Business Controller

Skf USA - Winsted, CT

Full-time - Mid Level

Winsted, CT

10,001+ employees

Fabricated Metal Product Manufacturing

About the position

The Business Controller at SKF in Winsted, CT, plays a crucial role in managing cost and internal controls while performing financial analysis to support management in making informed financial decisions. This position requires a partnership with the Plant Manager and the management team to ensure that decisions are based on the best available data and facts. The Controller is responsible for overseeing the accounting functions within the plant, which includes cost management, budgeting, forecasting, monthly closing, and variance reviews. The goal is to ensure that financial results are produced and presented in accordance with GAAP and SKF policy. In this role, the Business Controller will partner with Plant Management to provide timely financial analysis and key performance indicators (KPIs) to maximize plant performance. This includes preparing reports on a daily, weekly, and monthly basis to ensure that the Plant Management team has the necessary information for decision-making. The Controller will also identify and initiate actions to improve profitability and asset turns, executing strategies such as working capital reduction, contribution margin leakage countermeasures, operations restructuring, and product cost re-engineering. The position involves preparing accurate forecasts, driving continuous improvement cost-saving initiatives, and optimizing working capital and inventory levels. The Controller will support Capital Expenditure Requests in coordination with Plant Engineering and Management, ensuring proper capitalization of assets once in service. Additionally, the role requires collaboration with the U.S. Financial Operating Center (FOC) to improve communication on accounts payable, accounts receivable, payroll, and other journal entries. The Business Controller will coordinate the annual planning and budgeting process, ensuring the development of realistic plans focused on continuous improvement. This includes monitoring variances, identifying risks and opportunities, and initiating corrective actions. The Controller is also responsible for ensuring that internal controls and procedures comply with SKF's Internal Control policy and for all cost accounting functions, including establishing standard costs and variance analysis. The role requires a hands-on approach, with a strong presence on the plant floor to minimize financial surprises and prepare ad hoc analyses as required.

Responsibilities

• Partner with Plant Management to provide timely financial analysis and key performance indicators (KPI's) to maximize plant performance.
• Prepare reports daily, weekly, and monthly for the Plant Management team to facilitate decision-making.
• Identify/initiate actions to improve profitability and asset turns, executing appropriate strategies.
• Prepare accurate forecasts including in-depth analyses and identifying corrective actions.
• Drive Continuous Improvement Cost Saving Initiatives with the Plant Management team.
• Support Capital Expenditure Requests in coordination with Plant Engineering & Management team.
• Work with the U.S. Financial Operating Center on continuous improvement in communication regarding financial entries.
• Coordinate the annual planning and budgeting process to ensure realistic plans focused on continuous improvement.
• Ensure understanding of plan drivers and opportunities/risks to develop contingency plans.
• Monitor variances, identify risks and opportunities, and initiate corrective actions.
• Ensure internal controls and procedures comply with SKF Internal Control policy.
• Responsible for all Cost Accounting functions including establishing standard costs and variance analysis.
• Perform a Fixed Asset inventory once every three years per SKF policy.
• Provide Plant Finance support for quoting new business, including preparation of cost estimates.

Requirements

• A four-year degree in Accounting.
• MBA or CPA/CMA preferred.
• Five or more years of accounting experience in a manufacturing environment with both General and Cost Accounting experience.
• Experience developing and using Standard Cost Accounting.
• Demonstrated ability to be proactive, creative, and innovative with critical and strategic thinking skills.
• Strong analytical, problem identification, and problem-solving skills.
• Excellent professional written, verbal communications, and interpersonal skills.
• Proficient in MS Office and a solid understanding of ERP systems.
• Experience with financial consolidation systems such as SAP BPC or Hyperion.
• Ability to work within and facilitate a team environment.

Nice-to-haves

• Experience in Power BI.

Benefits

• Disability insurance
• Employee discount
• Life insurance
• Paid time off
• Tuition reimbursement