Senior Cost Accountant

About the role

We're transforming one of the world's oldest industries with cutting-edge technology and an innovative approach. Backed by top-tier investors and recognized by Time as one of the "best Inventions of 2024" and Fast Company as one of 2024's "Next Big Things in Tech", Electra is scaling rapidly, and we're looking for bold, driven individuals to help us reshape the future of iron production. If you're ready to make a real impact in a company that's redefining heavy industry for a cleaner, smarter world, we want to hear from you.

Responsibilities

• Responsibilities include:
• Fixed Asset and Construction-in-Progress Tracking: Establish and document accounting treatment, policies, and procedures for our demonstration plant assets that are constructed and placed-in-service including depreciation, internal cost allocations, and disposals
• Cost Accounting System Development: Establish and maintain robust cost accounting systems to track raw materials, labor, and overhead costs in accordance with GAAP inventory methods. Serve as the accounting liaison for NetSuite enhancements, testing, and system changes impacting inventory
• Inventory & WIP Management: Monitor work-in-process (WIP) and inventory levels. Support monthly/quarterly physical inventory counts and reconcile discrepancies
• Variance Analysis: Analyze manufacturing variances (material, labor, overhead, and purchase price) and communicate findings to Finance and Operations management to drive process improvements
• Month-End Close: Lead month-end close activities, including preparing journal entries and reconciling inventory sub-ledgers to the general ledger
• Profitability & Margin Analysis: Prepare monthly gross margin reports by product, customer, and production job to assist in pricing strategies
• Process Improvement: Partner with FP&A, Operations, and Supply Chain to assess cost changes and downstream financial impact. Identify opportunities to reduce costs and increase efficiency in production and purchasing
• Controls, Risk & Audit:
• Own inventory-related internal controls, including documentation, testing, and periodic self-assessment
• Serve as a key accounting contact for financial and inventory-related audits; support audit requests and resolution of findings
• Ensure compliance with GAAP and company inventory accounting policies
• Develop, document, and maintain inventory accounting policies and procedures
• Assist with monitoring the cycle count program, execute the year-end physical inventory, and report results. You will be responsible for reconciling raw material and finished goods inventories
• System Implementation: Assist in ERP/software implementation or optimization to ensure accurate costing data
• What we need you to bring to the team:
• Bachelor's degree in Accounting , Finance or a related field
• Advanced knowledge of inventory costing and valuation methodologies within process and discrete manufacturing environments, including Weighted Average Cost, Standard Cost, and FIFO methodologies
• Demonstrated ability to apply advanced professional accounting knowledge, business acumen, and analytical skills to resolve complex accounting and operational issues
• Strong variance analysis, problem-solving, and root cause identification skills, with the ability to proactively develop practical and effective solutions
• Advanced Microsoft Excel skills, including experience with large datase

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Company Intel

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