Divisional ControllerApply Now Submit a Referral Job ID REF9856X Date posted 03/22/2023 Address 375 New State Road, Manchester, CT Job Type Full-time Job Status Exempt
Founded in 1912, Illinois Tool Works Inc. (NYSE: ITW) is a diversified, Fortune 200 manufacturing company that delivers specialized expertise, innovative thinking and value-added products to meet critical customer needs in a variety of industries. Ranked among Fortune’s Magazine’s most admired companies, the company focuses on solid growth, improving profitability and strong returns across its worldwide platforms and divisions. These divisions serve customers and markets around the globe, with a significant presence in developed as well as emerging markets. ITW’s revenues totaled $15.64 billion in 2022.
As a key member of the leadership team, the Divisional Controller partners with and reports to the Vice President/General Manager to develop and implement division strategy by evaluating and developing financial plans and economic modeling. He/She is responsible for leading and overseeing all fiduciary responsibilities for the Division to drive business results. The Division Controller ensures continuous search for simplification by maintaining knowledge of and the use of the Company Toolbox tools.
The position will be based out of Manchester, CT.
Essential Duties and Responsibilities:
IT & Financial Reporting and Control
- Manage and control the financial activities, transactions, and resources (people and process) of the division.
- Manage Global Finance & IT Team (Connecticut, Italy and China)
- Ensure accurate and timely reporting of business financial information in compliance with ITW policies and GAAP.
- Identify when exceptions may be required to ITW stated policy and administer that request through Group Controller and Financial Reporting.
- Actively lead the IT team in new initiatives, manage IT infrastructure and help refine security practices
- Learn and apply the ITW Principles (80/20, Product Line Simplification, Market Rate of Demand, and In-Lining) to eliminate complexity and improve the profitability of the division.
- Plan, coordinate and administer the division’s accounting functions, including cost accounting, general accounting, inventory accounting, payroll accounting, accounts payable, accounts receivable, profit planning, earnings estimates, other forecasts, and special economic analysis.
- Consolidate accounting data and prepare reports necessary for leadership team to keep abreast of the financial status of the division and to identify potential problem or deficient areas.
- Effectively communicate and coordinate the exchange of financial information (plans, actual results, and outlook) to key stakeholders. Explain data to management to drive business decisions.
- Partner with VPGM and Division leadership on all operational and strategic issues as they arise; provide strategic recommendations based on financial analysis and projections, cost identification and allocation, and revenue/expense analysis.
- Partners with the leadership team to develop and execute Annual and Long Range Plans based on in-depth understanding of business and operations.
- Contribute to the vision and implementation of strategic plans, capital investments, acquisitions, restructuring projects, and critical ad-hoc opportunities.
- Build cross-department credibility, confidence, and collaboration with other functional areas within the Dynatec group.
Operating Analysis and Planning:
- Delivers short and long term forecasting.
- Provide measurable and accurate financial targets to evaluate the financial performance of the business.
- Evaluate projects that support additional investment or enhance the current development of assets and resources with the goal of improving the profitability of the company.
- Contribute to the Front-To-Back 80/20 process to help develop a vision and support implementation of strategic plans.
- Use 80/20 thinking to continuously analyze processes and identify actions to reduce complexity in finance and manufacturing.
- Clear and Concise / Articulates Business Strategies and Performance
- Perform any other duties as assigned by the VPGM.
People Leadership and Talent Development:
- Develop and lead a global Finance professionals focused on profitable growth, improving customer satisfaction and simplifying business processes.
- Ensure ITW Toolbox and 80/20 culture is fully embedded within the team
- Identify, lead and develop talent in order to maximize individual, team and organizational effectiveness in meeting company goals. This may include: selecting and on-boarding talent; communicating effectively to foster a culture of engagement, cascading vision, creating goal alignment, and coaching through feedback, development planning and performance management.
- Use personal influence skills rather than position power to persuade others and gain support.
- Champion the effective use of change management principles, strategies and techniques to plan, implement and evaluate change.
- Builds a strong pipeline of talent to ensure a diverse high performing organization.
- Use appropriate interpersonal styles and techniques to gain acceptance of ideas and plans. Coaches through feedback, development planning and performance management
- Lead a change management process to build organizational capability to sell solutions using a consultative approach.
- Identify, develop and monitor development plans for direct reports and high potential leaders.
- Create an organizational structure with accountabilities to ensure a high functioning operational team and change talent when required.
- BS/BA degree in Accounting or Finance related field required, preferably within a manufacturing organization. CPA and MBA are not required but is a plus
- 7+ years of demonstrated experience in financial reporting and analysis, cost reduction, inventory control, tracking and managing costs against a budget, and tracking P&L results required.
- 3+ years of experience in managing accounting teams or direct reports preferred.
- Demonstrated ability to be the business partner/advisor to the VPGM. Strong influence and collaboration skills.
- Experience in manufacturing environment, translating KPIs into immediate improvement actions, decreasing costs/increasing revenue.
- Partnering with leadership and influencing strategic initiatives.
- Demonstrated ability to remain objective and independent as a guardian of good business practices and controls while also able to troubleshoot and manage the risks inherent in growth initiatives that support division strategies.
- Strong IT knowledge with excellent computer skills (Microsoft and General Ledger applications).
- Experience implementing and working with information technology and ERP systems required.
- Working knowledge of manual and automated accounting systems.
- Customer centric, always bringing forth the Customer’s perspective.
- Ability to shift priorities, demands and timelines through analytical and problem-solving capabilities.
- Ability to partner with leadership and influence strategic initiatives.
- Travel Requirement – international travel <30%
Our employees enjoy competitive, merit-based salary plus excellent benefits including:
- Health and dental insurance
- Company Paid Life Insurance / Short and Long Term Disability
- 401K plan with generous company match
- Vacation, personal days and holidays
- Continuing education reimbursement program
- Flexible spending accounts
Please visit our website: www.itwgraphics.com
ITW Graphics is an Equal Opportunity Employer / Affirmative Action employer. All qualified applicants will receive consideration for employment without required to race, color, religion, sex, national origin, disability, or protected Veteran status.
All your information will be kept confidential according to EEO guidelines.
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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At ITW, we value our colleagues' unique perspectives, experiences, and ideas and create workplaces where everyone can develop their careers and perform to their full potential.
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. Read more information here.
If you are a qualified individual with a disability and are unable or limited in your ability to use or access this online application system process due to your disability, please email firstname.lastname@example.org to request assistance. No other requests will be acknowledged.