Sr. Costing Analyst

Why Work at Banner?

For over 50 years, Banner Engineering has been at the forefront of some of the biggest industry trends, such as the Industrial Internet of Things (IIoT), and our photoelectric, ultrasonic, and vision sensors, LED lights and indicators, monitoring solutions, and other safety products are used by Fortune 500 companies and industry leaders worldwide. Banner is a rapidly growing company that offers many personal development opportunities, an excellent benefits package, and a collaborative team of employees who are passionate about what they do.

Position Summary

The Senior Costing and Inventory Analyst is responsible for the improvement and maintenance of the company’s cost systems, inventory and analysis of gross margin components. The successful candidate will become the go-to Costing expert at Banner; understanding the details of the costing process, working cross-functionally to identify creative costing solutions and lead continuous improvement efforts around costing processes. This is a very important role that will collaborate with multiple departments and plants in the global Banner Engineering organization, helping to drive accurate costing and improved accountability, profitability and financial analysis. The Senior Costing and Inventory Analyst will identify and implement best practices, SOPs and standard process documentation.

This position reports to Commercial and Operations Finance Director, and is located at Banner’s global headquarters in Plymouth, MN.

What You’ll Be Doing

Costing

• Maintaining and improving the processes and controls associated with manufacturing costs (Material, Labor and Overhead costs)
• Analyzing, explaining, and aiding in correcting variances to standards; identifying causes and recommending steps to resolve
• Responsible for monthly standard Material cost setting process, with on-going recommendations for improvement
• Responsible for analysis and maintenance of all Labor and Overhead rates, ensuring accuracy, appropriateness of methods and consistency between plants
• Maintain and improve reporting and analysis related to product costing
• Ensure validity, accuracy and consistency of ERP costing data through analysis, internal audit and coordination. Drive consistency of accounting and reporting between plants.

Reporting and other key responsibilities

• Responsible for monthly close activities including reconciliation of accounts, journal entries, explanation of account variances and other reporting. Follow up and resolution on any issues that arise.
• Helping the organization in measuring, reporting, and managing the Operations KPIs. Facilitating the development of dashboards to support Finance and Operations Management.
• Tracking cost inflation and providing feedback to Commercial teams on impact for pricing purposes
• Developing an in-depth knowledge of business processes surrounding the procurement, manufacture, engineering, sale, and shipment of company products
• Providing direction / finance expertise to Manufacturing and Operations Management on issues and situations which impact current and future performance
• Other duties as assigned

What You Bring to the Table

To perform this job successfully, you must be able to perform each essential duty satisfactorily, and regular attendance is required. The requirements listed below are representative of the knowledge, skill, and/or ability required to perform this job. Reasonable accommodations may be made to support individuals with disabilities.

Required

• Bachelor’s degree in MIS, Finance, Accounting, or related field
• Minimum three years of manufacturing industry experience in a costing or financial analyst role
• Strong knowledge of the Microsoft Office Products (mainly Excel, Outlook, etc.)
• Detail and process oriented
• Good listening skills and desire to learn
• Ability to communicate with team members at all levels of Banner
• Self-starter that is able to work independently, as a team member and a leader

Preferred

• Oracle experience strongly desired
• International experience

Pay and Benefits

Banner Engineering is committed to offering competitive pay and benefits, including, but not limited to:

• Paid Time Off (PTO)
• 401(k) with match
• Profit Sharing Bonus
• Medical, Dental, and Vision Insurance Plans
• Life Insurance
• HSA
• Paid Parental Leave
• Flexible work hours
• Student Loan 401(k)
• Pet Insurance

This job description reflects management’s assignment of key responsibilities;