Job Description
Plant Controller
The Plant Controller is responsible for all accounting and finance activities of the Terumo Aortic, Sunrise (TAS) plant facility. This role requires a highly skilled and detail-oriented professional to oversee the plant's financial operations. This individual will be instrumental in shaping financial strategies, leading development of the Annual Operating Plan (AOP), and ensuring rigorous financial controls. Key responsibilities will include the month-end financial close, variance analysis, preparation of monthly and year-to-date financial reporting, and presentations to Plant and Senior management. The Plant Controller will partner with Plant/Operations leadership, provide financial guidance and forecasts, maintain and manage standard costs and costing activities, while ensuring proper protection of company assets through established controls and procedures. Additionally, the Controller will also play a significant role in supporting margin expansion and cost reduction initiatives to include developing cost models, performing Make vs. Buy analysis, and validating/tracking project progress.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Budgeting and Forecasting:
- Lead the Annual Operating Plan (AOP) and supporting budget activities for the site
- Work with Plant Management to develop AOP and forecasts for the following key areas:
- Production Plan
- Headcount Requirements
- Direct Manufacturing Costs (Labor and Overhead)
- Indirect Support Costs
- Manufacturing Variances
- Capital Projects and Depreciation
- Period Costs
- Simulated Std Costs
- Review AOP with Plant and Operations Management and prepare annual budget review presentation
- Support Long-Range Planning (LRP) activities, ensuring alignment with corporate financial goals
Month-end Close and Financial Reporting:
- Oversee the monthly financial close and report out month / year-to-date results
- Prepare reporting and variance analysis for monthly Business Reviews (Plant Variance, Value Stream Reports, Manufacturing Variance, Purchase Price Variance (PPV), Inventory, Key Performance Indicators (KPI), etc.)
- Review monthly operating expenses by cost center and report major variances to cost center and plant management
- Monitor site headcount, compensation and hiring activities to ensure compliance with management strategies & annual budget
- Complete all periodic reporting for Terumo Corporation – including monthly reports complete with commentary and addressing any ad-hoc requests
- Manage standard costs and costing activities:
- Coordinate and lead the annual cost roll process for TAS product (standard setting)
- Review work center routings and calculate Direct Labor and Overhead (Direct/Indirect) rates for each production line
- Review material costs obtained from Terumo intercompany partners (Vietnam, Japan) and 3rd party suppliers with Planning & Strategic Sourcing to ensure accuracy and accurate reporting of PPV
- Update custom product standard cost requests
- Assure accurate reflection of material, labor and overhead (direct/indirect) in BOM and product standard costs
Inventory Management:
- Monitor and report on inventory levels to support accurate financial reporting and operational efficiency
- Work with plant management to assure timely and accurate cycle and/or physical inventory counts
- Monitor TAS manufactured inventory levels to ensure optimal investment and initiate actions to reduce excess
- Manage and track expired and obsolete inventories generated internally or returned from Terumo intercompany partners and/or 3rd party customers assuring establishment of appropriate reserves and timely disposition
Capital Expenditures:
- Assist Project Managers in the preparation of capital expenditure proposals, verifying all relevant assumptions and preparing financial evaluations as needed (IRR, ROI, NPV, Payback, etc.)
- Review and validate month and project to date spending against capital projects
- Drive the timely closure and depreciation of completed capital projects
- Complete all periodic reporting for Terumo Corporation – includes monthly reports complete with commentary
Plant Performance and Margin Improvement:
- Provide financial insights and guidance to plant management to drive operational improvements and strategic decision-making
- Perform analysis to optimize operations, control costs, collaborate on cost down opportunities/plans, ensure quality and align decisions with strategic objectives – Make vs. Buy, DCF, IRR, ROI
Internal Controls:
- Ensure that internal control procedures are documented and up-to-date, and provide appropriate measurements to drive compliance
- Perpetually work to improve business processes with Accounts Payable, Global Business Services (GBS), Corporate Accounting and Capital Project managers
Position Requirements:
Knowledge, Skills and Abilities (KSAs)
- Strong working knowledge of manufacturing / cost accounting
- Strong analytical skills and financial acumen (variance analysis, budgeting, forecasting, etc.)
- Strong inter-personal and communication skills with demonstrated ability to interact effectively with a variety of cross-functional levels – shop floor production team; Plant and Operations management; warehouse management; BU and Corporate functions and management
- Ability to take a “hands on” approach and perform effectively in a team environment
- MS Office proficiency, advanced Excel user
- Ability to work independently with limited supervision
- Ability to effectively manage multiple priorities simultaneously and adapt to continuously changing demands and priorities.
- Background Experiences
- Bachelor's in finance/accounting and minimum of 10 years cost accounting experience required, MBA or CPA preferred or equivalent combination of education, training, and relevant experience.
- Prior ERP systems experience required (e.g., SAP, Hyperion, etc.)
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