Sr Analyst Corporate Accounting

Job Description:

Since its founding more than 100 years ago ITW has become one of the worlds leading diversified manufacturers of specialized industrial equipment consumables and related service businesses. We place a high premium on developing innovative solutionsmost of which are developed in tandem with our customers. And we continue to ensure that our customers receive timely cost-effective service for our innovative products.

ITWs differentiated business model comprises unique core capabilities: our proprietary 80/20 business process customer-back innovation and our well-known decentralized entrepreneurial culture. These capabilities are unmistakably ITWand key to our longevity and strong performance.

ITWs products and solutions are at work all over the world in deep-sea oil rigs aerospace technology bridges and wind turbines healthcare the spaces in which we live and work the cars we drive and the mobile devices we rely on. We are never whether we know it or not more than a few steps from an innovative ITW solution.

ITW(NYSE: ITW) is a Fortune 300 global multi-industry manufacturing leader with revenue of $15.9 billion in 2024. andemploys 44000 people operating in 51 countries. Our headquarters are in Glenview IL. include a fitness center at no cost to the employees a cafe outdoor volleyball courts walking trails around the facility employee resource groups corporate discounts dry cleaning services covered/outdoor parking and much more. We are just a block away from the nearest Metra station and it is a quick 20-minute train ride to downtown Chicago museums lakefront and other activities.

More details on our benefits can be found on our website at Tool Works (ITW) is seeking a highperforming detailoriented Senior Analyst Corporate Accounting to join our Corporate Accounting organization. This role plays a critical part in ensuring the accurate accounting reporting and compliance for ITWs U.S. managed employee health and welfare benefit plans including medical prescription drug dental vision life disability HSA and flexible spending arrangements.

This position offers handson ownership of complex accounting processes significant interaction with internal business partners and external service providers and exposure to SEC reporting and benefit plan audits. The Senior Analyst reports to the Senior Manager Corporate Accounting and collaborates closely with Human Resources External Reporting Tax Treasury and internal and external auditors.

Key Responsibilities:

Accounting & Close Responsibilities

• Own the monthly quarterly and annual accounting and close processes for U.S. employee health and welfare benefit plans ensuring compliance with U.S. GAAP.
• Prepare review and post journal entries; perform account reconciliations; analyze variances; and investigate and resolve reconciling items.
• Ensure accurate recognition of benefit costs liabilities reserves and settlements including claims incurred but not reported (IBNR).

Budgeting Forecasting & Analysis

• Support the annual budgeting and periodic forecasting processes for assigned benefit programs.
• Analyze actual results versus budget and forecast identify key drivers and provide clear explanations to management.
• Develop and maintain supporting models and analytical schedules related to benefit plan costs and obligations.

Vendor Actuarial & CrossFunctional Coordination

• Work with thirdparty administrators insurers and other vendors to interpret data from multiple systems and formats and translate it into accurate accounting and reporting.
• Partner with plan actuaries to ensure appropriate measurement and recording of retiree health and welfare benefit obligations.
• Collaborate with Human Resources to understand plan design changes new programs and emerging trends and assess accounting implications.

Financial Reporting & Compliance

• Assist in the preparation and review of quarterly and annual financial reporting deliverables including disclosures for Forms 10Q and 10K related to employee benefits.
• Support the preparation of benefit plan financial statements and related schedules used in Forms 5500 and 990 filings.
• Serve as a key point of contact for external auditors internal audit and benefit plan auditors; coordinate audit requests and ensure timely accurate responses.

Process Improvement & Controls

• Identify opportunities to streamline accounting processes improve controls enhance documentation and leverage system capabilities.
• Assist with the design implementation and monitoring of internal controls related to benefit plan accounting.
• Contribute to special projects systems enhancements and ad hoc analytics as the benefits landscape and regulatory environment evolve.

Qualifications:

Required

• Bachelors degree in Accounting or Finance.
• 24 years of progressive accounting or finance experience in a corporate environment public accounting or a combination of both.
• Strong understanding of US GAAP and the financial close process.
• Ability to work 5 days a week onsite at the Glenview IL corporate campus with flexibility in hours.
• Advanced Excel skills and strong analytical capabilities.
• Ability to manage multiple priorities work independently and meet deadlines in a complex environment.
• Excellent written and verbal communication skills with the ability to explain complex topics clearly and concisely.

Preferred

• CPA or progress toward CPA certification; advanced degree a plus.
• Prior experience with accounting or reporting for employee benefit plans.
• Experience with ERP and consolidation systems such as D365 Business Central and Oracle HFM.
• Exposure to SEC reporting external audits and/or benefit plan regulatory filings.

* ITWs Corporate Accounting Team is not currently hiring individuals for this position who now or in the future require sponsorship for employment visa status.

Compensation Information:

The compensation package for the role offers a competitive base salary ranging from $82k - $92k annually.

ITW considers various factors when extending an offer including but not limited to the scope and responsibilities of the position the candidates work experience education and training geographic location key skills as well as market and business considerations.

In addition to a competitive salary ITW employees in the U.S. are eligible for a comprehensive benefits package. This package includes medical dental vision disability and life insurance programs. We also provide a 401k plan with both a company match and additional employer contribution Flexible Spending Accounts Health Savings Accounts Employee Assistance Program Commuter benefits Adoption Assistance

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.