Director, Accounting

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 Company’s 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/QUALIFI