Accounting Manager

Illinois Tool Works · Richton Park · $115,000–$123,000 (stated in the posting)

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Job Description:

The Accounting Manager leads the US accounting organization and drives accurate, timely and well-controlled financial processes in compliance with ITW policies and US GAAP. The role owns the US accounting processes end to end (Invoice-to-pay, bill-to-cash and record-to-report), leads and develops the accounting team, and supports the Controller with forecasting, reporting and analysis. The Accounting Manager understands and champions ITW business model for accounting and reporting.

Scope and Team

• Accounting for the US manufacturing operations, organized by process rather than by product portfolio.

• Leads the US accounting team, currently including Accounts Payable, Accounts Receivable and Staff Accountants.
  

Core Responsibilities

Process ownership and improvement

• Own the design, documentation and performance of US accounting processes end to end, with clear handoffs, defined owners and measurable KPIs.

• Lead continuous process improvement (toolbox), standardization and automation opportunities across the accounting function.

• Partner with the Controller and IT on ERP and database integration, and on GL and financial statement reporting in Power BI.
  

Close and reporting

• Own the monthly close calendar and coordinate with plants and functional teams to ensure timely, accurate financial statements in accordance with US GAAP.

• Ensure timely entry of monthly and quarterly financials and the Tax Kit into the ITW corporate reporting software; review the work prepared by the team.

• Perform and review monthly account reconciliations, including bank, intercompany, cost function and other reconciliations.

• Perform detailed analysis of accounting information, monitor completeness and accuracy, identify potential problems, implement corrective actions and follow up until resolved.
  

Manufacturing accounting

• Ensure accurate accounting for inventory, standard cost and variances (purchase price, labor, overhead), reserves and capitalization, working with plant finance and operations.
  

Internal controls and audit

• Ensure documentation, monitoring and remediation of internal controls in accordance with ITW policies, including ICQ and the Top 13 Controls and segregation of duties.

• Develop and maintain financial reporting processes that meet or exceed internal and external audit requirements; assist the Controller in internal and external audits.

• Oversee the Procurement Card program (policy, card issuance and cancellation, credit limits, periodic reviews and training); day-to-day administration is performed by the AP team.
  

Planning and analysis

• Support the Controller in the preparation of Quarterly Reviews, Long-Range Plan, Annual Plan, Critical Forecast, and business modeling and analysis.
  

People and business partnership

• Lead, coach and develop the accounting staff, including goal setting and performance reviews.

• Build team resilience through cross-training, back-up coverage and documented procedures, reducing dependence on any single person.

• Act as business partner to leadership team members and plant management on finance-related topics.

• Other duties as assigned.
  

Qualifications

• Bachelor’s degree in Accounting or Finance required; CPA strongly preferred; MBA preferred.

• 7+ years of accounting experience in a manufacturing environment, including cost accounting, inventory and month-end close.

• Demonstrated experience (at least 3 years) managing a direct staff of accounting professionals, including coaching, developing and leading a team through change.

• Strong knowledge of finance, accounting, budgeting and cost control principles, including US GAAP and internal control frameworks.

• Ability to analyze financial data and prepare financial reports, statements and projections.

• Excellent knowledge of ERP and BI systems (Power BI preferred) and Microsoft Office, especially Excel.

• Outstanding written and verbal communication, presentation and interpersonal skills, with the ability to relate to people at all levels.

• Ability to multi-task, work under pressure and meet deadlines.

• Demonstrated accountability for results and understanding of the financial impact of decisions.

Compensation Information:

$115,000-$123,000

ITW is an equal opportunity employer. We value our colleagues’ unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential. 

As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship. 

All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.

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