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Key Responsibilities and Required Skills for Industrial Controller

💰 $110,000 - $165,000

FinanceAccountingManufacturingOperations Management

🎯 Role Definition

The Industrial Controller is a pivotal financial leader and strategic business partner within a manufacturing or industrial organization. This role transcends traditional accounting by bridging the gap between finance and operations. They are the financial conscience of the plant or production facility, responsible for providing critical insights, analysis, and financial governance to drive operational efficiency, cost control, and profitability. An effective Industrial Controller translates complex financial data into actionable strategies for plant management, ensuring that operational decisions are grounded in sound financial principles. They are instrumental in everything from product costing and inventory valuation to capital investment decisions and long-range strategic planning.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Senior Cost Accountant
  • Senior Financial Analyst (Manufacturing)
  • Plant Accountant

Advancement To:

  • Finance Director, Operations
  • Regional Controller
  • Divisional Chief Financial Officer (CFO)

Lateral Moves:

  • Corporate Controller
  • Commercial Controller
  • Senior FP&A Manager

Core Responsibilities

Primary Functions

  • Lead all financial planning, budgeting, and forecasting processes for the manufacturing plant, including the annual operating plan and periodic updates.
  • Provide detailed and insightful analysis of monthly financial results, comparing actuals to budget, forecast, and prior year, and communicating key drivers to management.
  • Develop, maintain, and continuously improve a robust standard costing system, including the annual analysis and updating of material costs, labor rates, and overhead allocations.
  • Perform in-depth variance analysis (e.g., purchase price variance, material usage, labor efficiency) and collaborate with operations to identify root causes and drive corrective actions.
  • Manage and oversee the entire inventory accounting process, including valuation, physical counts, cycle counting programs, and analysis of slow-moving or obsolete inventory (SLOB).
  • Serve as the primary financial business partner to the Plant Manager and their leadership team, providing guidance and support for operational and strategic decisions.
  • Prepare and present comprehensive monthly and quarterly financial reporting packages for both local plant management and corporate leadership, highlighting key trends and insights.
  • Champion and enforce strong internal controls within the plant environment to ensure the safeguarding of company assets and compliance with corporate policies and Sarbanes-Oxley (SOX) requirements.
  • Develop and analyze financial models for capital expenditure (CapEx) requests, evaluating ROI, payback period, and NPV to support sound investment decisions.
  • Track and report on the financial performance of capital projects from approval through to post-implementation review, ensuring projects deliver expected returns.
  • Drive continuous improvement and cost-saving initiatives by identifying opportunities for waste reduction, process optimization, and enhanced productivity through financial analysis.
  • Analyze manufacturing costs and profitability by product line, customer, or SKU to support pricing decisions, portfolio management, and strategic initiatives.
  • Oversee the month-end, quarter-end, and year-end closing processes for the plant, ensuring all financial transactions are recorded accurately and timely in accordance with GAAP/IFRS.
  • Collaborate with the supply chain team to monitor raw material and component costs, identifying risks and opportunities related to commodity pricing and supplier negotiations.
  • Prepare detailed make-versus-buy analyses to support strategic sourcing and outsourcing decisions, providing clear financial recommendations.
  • Monitor and report on key operational performance indicators (KPIs) and their financial impact, such as OEE (Overall Equipment Effectiveness), scrap rates, and direct labor utilization.
  • Support the implementation and optimization of the ERP system and other financial software, acting as a key user and subject matter expert for the plant.
  • Ensure the accuracy of the plant's balance sheet, including the timely reconciliation of key accounts like inventory, fixed assets, and accrued liabilities.
  • Act as the key point of contact for internal and external auditors for all matters related to plant operations and finances, ensuring a smooth and efficient audit process.
  • Develop financial acumen within the plant's operational teams through training and regular communication, fostering a culture of cost-consciousness and financial accountability.
  • Participate actively in the site's strategic planning process, providing a long-term financial perspective on plant capacity, footprint, and technology investments.
  • Analyze the financial impact of proposed changes in production volume or product mix, providing proactive guidance to the management team to optimize profitability.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis for corporate finance and operations teams.
  • Contribute to the organization's broader data strategy and roadmap, particularly for operational finance data.
  • Collaborate with IT and other business units to translate data needs into system and reporting requirements.
  • Participate in cross-functional continuous improvement (Kaizen) events and other lean manufacturing initiatives.
  • Mentor and develop junior finance and accounting staff within the plant or region.

Required Skills & Competencies

Hard Skills (Technical)

  • Cost Accounting Expertise: Deep knowledge of cost accounting principles and standard costing methodologies in a complex manufacturing environment.
  • ERP System Proficiency: Advanced proficiency in major ERP systems (e.g., SAP S/4HANA, Oracle, Microsoft Dynamics 365), particularly the CO, MM, and FI modules.
  • Advanced Excel & Modeling: Superior financial modeling and data analysis skills using Microsoft Excel (e.g., Pivot Tables, Power Query, complex nested formulas).
  • Accounting Standards: Strong knowledge of U.S. GAAP and/or IFRS, particularly concerning inventory valuation, fixed assets, and revenue recognition.
  • BI & Reporting Tools: Experience with financial reporting and business intelligence (BI) tools such as Power BI, Tableau, or Hyperion/Oracle EPM.
  • Internal Controls: Solid understanding of internal controls frameworks (e.g., SOX, COSO) and their application in a plant setting.
  • Capital Budgeting: Proficiency in capital expenditure (CapEx) evaluation techniques (NPV, IRR, Payback) and project accounting.
  • Financial Planning & Analysis (FP&A): Demonstrated ability in budgeting, forecasting, and long-range financial planning.
  • Inventory Management: Strong command of inventory valuation methods (LIFO, FIFO, average cost), cycle count procedures, and obsolescence reserve calculation.
  • Variance Analysis: Skill in performing and interpreting detailed manufacturing variance analysis and communicating findings effectively.

Soft Skills

  • Business Acumen: The ability to quickly grasp operational processes, supply chain dynamics, and their financial implications to act as a true business partner.
  • Leadership & Influence: Strong ability to influence and guide non-financial managers toward decisions that enhance financial performance.
  • Communication & Presentation: Excellent verbal and written communication skills, with the ability to explain complex financial concepts to diverse audiences clearly and concisely.
  • Analytical & Critical Thinking: A high-level analytical mindset to dissect problems, see trends in data, and think critically about business challenges.
  • Proactive Problem-Solving: A results-oriented mindset focused on identifying issues, performing root-cause analysis, and driving actionable solutions.
  • Attention to Detail: Meticulous attention to detail and a strong commitment to accuracy and data integrity.
  • Adaptability: The ability to thrive and maintain a high level of performance in a fast-paced, dynamic, and often demanding manufacturing setting.
  • Interpersonal Skills: Strong relationship-building skills to foster collaboration between finance, operations, engineering, and other departments.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's Degree

Preferred Education:

  • Master's Degree (MBA, Master's in Accounting) and/or a Professional Certification such as CMA (Certified Management Accountant) or CPA (Certified Public Accountant).

Relevant Fields of Study:

  • Accounting
  • Finance
  • Business Administration

Experience Requirements

Typical Experience Range:

  • 7-12 years of progressive experience in finance and accounting roles.

Preferred:

  • A minimum of 5 years of experience in a manufacturing, industrial, or plant environment with direct responsibility for cost accounting, inventory control, and operational financial analysis. Experience in a senior-level or supervisory role is highly desirable.
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