Illinois Tool Works Inc. (NYSE: ITW) is a global Fortune 200 diversified manufacturing company that delivers specialized expertise, innovative thinking, and value-added products to meet critical customer needs in a variety of industries. ITW, with approximately 14.1 billion dollars in global revenues, operates 7 major segments with businesses in 57 countries that employ approximately 45,000 women and men. These talented individuals, many of whom have specialized engineering or scientific expertise, contribute to our global leadership in innovation. We are proud of our broad portfolio of more than 16,000 active patents.
The ITW StampTech Fastener TM Division serves the major OEMs and Tier suppliers in the North American automotive market. The division supplies stamped metal fasteners and engineered fastener assemblies that leverage our deep-draw stamping technologies. The annual revenue for the division is approximately $160M. Locations include Gallatin, TN, Lexington, KY & Naugatuck, CT.
The Division drives profitability by leveraging its innovative solutions and application engineering. In addition to ITW's industry leading research and development capabilities, StampTech Fasteners TM enhances our customers' competitive advantage by maintaining advanced engineering and manufacturing facilities in North America, exchanging product, process, and benchmarking information with sister units worldwide and ccontinually improving processes, material, and designs to ensure every product provides value and meets customer expectations.
The Financial Analyst is a key owner of sales analysis and reporting and Accounts Receivable processes related to our valued business partners. The ownership includes timely analysis and recording of cash transactions, reviewing aged balances, and working with the customers and internal teams to resolve, and payment discrepancy investigation and resolution. Analysis of actual sales history and estimates of future sales based on actual ship history, customer releases and Saphran estimates.
The successful candidate will need to be team player, with strong organizational, time management and critical thinking skills. Maintains accounts/financials records in accordance with ITW Policies and procedures, and Generally Accepted Accounting Principles (GAAP). Receives guidance and direction from their manager & other more senior accounting professionals.
Monitors bank accounts and performs cash application.
Identify, Investigate, and resolve discrepancies. Ensure compliance with policies and standards.
Prepares reports related to accounts receivable for management.
Performs reconciliations including sales, accounts receivable, cash receipts and credits.
Accurately prepare and submit monthly Journal Entries.
Keep track of accurate accrual and prepaid schedule.
Perform the month-end closing process based on the month-end closing check list.
Continually monitors customer aging for overdue amounts and DSO to ITW guidelines.
Performs retro billings in support of customer price changes.
Sales analysis and reporting based on actual ship history, customer releases and Saphran estimates based on IHS data. Working with the Commercial Analyst, Customer Service, and the Sales Team.
Monitors and records scrap metal income.
Support intercompany netting process
Support physical inventory.
Maintain electronic and physical records in an orderly fashion in compliance with ITW Record Retention Policies.
Communicate professionally with peers, customers, and suppliers.
Expected to work in a cross functional team environment.
Update work instructions as necessary.
Working knowledge of sales and use tax. Review transactions for compliance with Connecticut and Kentucky laws and record our liability accordingly.
Attend ITW required training including (but not limited) to safety training, policy training and other training activities.
Review and investigate the AR Aging report for unusual or aged transactions. Work with internal peers and our business partners to solve. Identify recurring themes and suggest and implement corrective actions.
Cross train with other team members.
Continuous improvement using ITW toolbox principles
Ability to work with minimal supervision and demonstrate critical thinking skills.
Performs assignments in accordance with ITW policies and procedures and generally accepted accounting standards.
Maintain good housekeeping standards.
Follow all rules, regulations and work processes set forth by the company.
Maintain a safe working environment.
Other duties as deemed necessary to meet the needs of the business or assigned by the Manager.
Payroll
Oversight of the payroll process to ensure that the payroll is processed timely and accurately. Ensure compliance with payroll law, ITW and Business Unit policies and procedures.
Prepare and submit payroll adjustments (gym membership, shoes reimbursement, vacation payouts, etc.) to Corporate Payroll
Work with Supervisors and Managers to ensure timely review and approval of time sheets.
Assist employees and management with any questions about reported timesheets (HR handles and maintain pay rate)
Assist HR with payroll and attendance management issues
A bachelor's degree in accounting or other related field and 1-2 years' experience in an accounting role; OR H.S. Diploma/GED and 5+ year's demonstrated experience.
Working knowledge of accounting principles and applications.
Proficient in Word, Outlook, Suite, PowerPoint, IT applications and general office equipment.
Intermediate user in Excel applications
Detail-oriented, well organized, self-motivated with ability to multi-task
Understanding and maintaining confidentiality.
Ability to read, analyze, and interpret common financial reports
Excellent communication skills (oral/written) and the ability to interact effectively with all levels within the company, suppliers, and customers
Ability to maintain office core hours. Some overtime as required.
Excellent research, problem solving and interpersonal communication skills
ITW Culture & Leadership Expectations:
Exemplify and embody the ITW Leadership expectations
Able to thrive and collaborate in a decentralized and entrepreneurial culture
Able to take a high level of accountability and ownership for personal and company performance
Able to communicate both verbal and written with clarity and simplicity
Exemplifies a strategic-thinking approach and process to product management
Able to make decisions and use critical thinking and analytical approaches when weighing options
Nurturing an environment consistent with the ITW values and culture
Is outcome driven and applies the 80/20 principles to prioritize work demands
Pro-actively participating in ITW's 'toolbox' initiatives (i.e., USa, 80/20 Philosophy, PLS, MRD, and In-Lining)
Demonstrations a high level of leadership experience and emotional intelligence
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.
ITW is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.
