Reporting to the IPS Segment Controller the Director will lead and oversee the accounting close and consolidation process for the IPS Segment. This position oversees a group of approximately 8 people. The Director will serve as an important and strategic leader within the Companys finance organization leading & developing a team of finance professionals contributing to the development of and compliance with standard frameworks and practices that enable accurate and timely financial statements driving continuous improvement and efficiencies in the accounting close and partnering with and supporting the business on various accounting matters. This role will have significant visibility to executive leadership throughout the Company and will maintain close working relationships with the Segment CFO and Controller Senior Director of FP&A and Finance Directors and the Corporate Accounting/Shared Service teams among others.
This leadership role will have a broad responsibility for the following areas:
Central accounting for the global IPS segment preparation and oversight of key accounting reserves such as Bad Debt Excess and Obsolete Inventory Profit in Inventory Elimination and Inventory Cost Variance accounting as well as other centralized accounting estimates and journal entries
Cost Accounting Oversight Ensures all plants are applying consistent cost accounting principles in accordance with Regal Rexnord policies
Forecast Support provide management insight into future account reserves and estimates including updating forecast amounts within the planning tool.
Consolidations and Intercompany Accounting ownership of the final consolidation and intercompany elimination process within IPS
Technical Accounting Support provide sites with technical accounting support as questions arise or new transactions require support
Strategic partner with the business ensuring accounting transactions and implications are know in advance and recorded appropriately
Support routine and ad hoc requests from senior leadership and present reports and findings on a periodic basis.
Key Responsibilities
Guides financial decisions by establishing monitoring and enforcing policies & procedures.
Protects assets by establishing monitoring and enforcing internal controls.
Monitors and confirms financial condition by conducting audits providing information to auditors.
Ensures application and compliance with Regal accounting policies and procedures US GAAP IFRS accounting and compliance rules and laws.
Collaborate with the Corporate financial systems organization to leverage financial systems in support of IPS finance and business needs.
Implements applies and standardizes SOX and internal controls and monitors success to minimize risk.
Directly manages and develops team associates by driving leading and directly participating in the close process to ensure timely and accurate reporting.
Completes all accounting activities tasks and procedures needed.
Develops and implements continuous process improvements in the accounting and compliance processes of Regal Rexnord.
Manages general accounting function(s) and develops all local teams responsible for the preparation of reports and statistics reflecting earnings profits cash balances and other financial results for the business unit/group.
Owns manages and maintains standard application of accounting schedules compliance of Regal accounting policies and of SOX compliance.
Routinely and proactively conducts detail balance sheet reviews (minimize surprises).
Drives all finding and/or process improvement opportunities to timely closures.
Develops processes and controls to ensure compliance with statutory regulations and corporate accounting standards/policies.
Proactively ensures completion of all other compliance requirements e.g. governmental surveys.
Drives consistency and continuous improvements in processes tools formats and templates to mitigate risk.
Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; participating in professional societies.
Protects operations by keeping financial information and plans confidential.
Contributes to team efforts of the global Segment by accomplishing related results as needed.
PROFESSIONAL EXPERIENCE/QUALIFICATIONS
Bachelors Degree in Accounting
Masters Degree in Accounting or MBA preferred
CPA preferred
10 years of relevant and progressive accounting experience
Big 4 accounting and/or large US public company experience (manufacturing industry experience is preferred)
Strong understanding and practical working knowledge of US GAAP
Strong leadership team building and project management skills
Experience with SAP/Oracle ERP system or OneStream consolidation software is a plus.
Strong experience with Microsoft Excel PowerPoint and Word.
Travel:
Limited travel (under 20%) to support team
#LI-hybrid
Regal Rexnord is a publicly held global industrial manufacturer with 30000 associates around the world who help create a better tomorrow by providing sustainable solutions that power transmit and control motion. The Companys electric motors and air moving subsystems provide the power to create motion. A portfolio of highly engineered power transmission components and subsystems efficiently transmits motion to power industrial applications. The Companys automation offering comprised of controls actuators drives and precision motors controls motion in applications ranging from factory automation to precision control in surgical tools.
The Companys end markets benefit from meaningful secular demand tailwinds and include factory automation food & beverage aerospace medical data center warehouse alternative energy residential and commercial buildings general industrial construction metals and mining and agriculture.
Regal Rexnord is comprised of three operating segments: Industrial Powertrain Solutions Power Efficiency Solutions and Automation & Motion Control. Regal Rexnord has offices and manufacturing sales and service facilities worldwide. For more information including a copy of our Sustainability Report visit .
Regal Rexnord is an Equal Opportunity and Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race color religion sex/gender sexual orientation gender identity pregnancy age ancestry national origin genetic information marital status citizenship status (unless required by the applicable law or government contract) disability or protected veteran status or any other status or characteristic protected by law. Regal Rexnord is committed to a diverse and inclusive workforce. We are committed to building a team that represents diverse and inclusive backgrounds perspectives and skills. If youd like to view a copy of the companys affirmative action plan for protected veterans/individuals with disabilities or policy statement please email you have a disability and you believe you need a reasonable accommodation in order to search for a job opening or to submit an online application please e-mail
Required Experience:
Director
Regal Beloit and Rexnord Corporation merged in 2001 to create Regal Rexnord. Find out more about the brands that make up our power transmission portfolio.