Business Unit Finance Manager

Company Description

Founded in 1912, ITW (NYSE: ITW) is a global industrial company centered on a differentiated and proprietary business model. The company’s seven industry-leading segments leverage the ITW Business Model to generate solid growth with best-in-class margins and returns in markets where highly innovative, customer focused solutions are required. ITW’s more than 46,000 dedicated colleagues around the world thrive in our decentralized, entrepreneurial culture. To learn more, please visit www.itw.com.

Division Description:

ITW Electronic Components Solutions (ECS), a division of Illinois Tool Works, Inc. (NYSE: ITW), is the global leader in process knowledge, services and manufacture of Surge Protection, LED LCD Indicators, Switch Solutions and Formex Electrical Insulating Materials. ITW ECS serves several key market segments including Automotive, Communications, Transportation, Security, Industrial Controls, LED Lighting, and Medical markets. The Group brings together the world’s leading brands of electronic component solutions: Formex, Linx, Lumex: LED; LCD; and Switch products in addition to EBA (Electronic Business Asia). For more information visit www.itwecs.com

Job Description

The Business Unit Finance Manager will report to the Business Operations Manager with a strong partnership to the Division Controller.  The Finance Manager will be responsible for forecasting, reporting, and managing a full set of financial statements for the Business Unit, as well as establishing and maintaining accurate and effective financial processes in accordance with ITW policies and US GAAP.  The role will be a key member of the site leadership team and will partner with two Business Operations Managers of the unit on increasing growth, profitability, and meeting the overall financial plan. Further, the role supports cross-functional process improvement initiatives.

Essential Functions:

• Manage and lead the Finance/Accounting function for the North America business.
• Facilitate and complete monthly close requirements with a Hands-On approach.
• Work with the team to lead and develop accurate monthly Outlooks.
• Prepare and communicate monthly and quarterly reports which summarize business activity and drivers of financial position in areas of income, expenses, and earnings.
• Responsible to oversee the preparation and distribution of Commission payments, posting monthly Sales Reports, monitor PPV details, and AR process review and approval.
• Maintain ownership of financial controls and reporting: capital projects and approvals, timely and accurate preparation of required financial reports, accounts receivable, accounts payable and payroll processes, inventories, and reconciliation of results.
• Ensure accurate and timely reporting of financial information in compliance with ITW policies and US GAAP.
• Responsible for review, implementation, and documentation of internal controls (specifically the ITW ICQ questionnaire and the Top 13 Controls). 
• Responsible for compiling financials for the annual plan (AOP) and long-range plan (LRP) activities that incorporates both bottoms-up input and top down-strategic priorities that align with the business’s strategic intent.
• Support the operational excellence strategy by working closely with the organization on process improvements, KPIs, business case modelling and analysis.
• Support Operations and the organization to achieve unit and Divisional goals and objectives, including the annual operating plan, long range strategic plan, capital investments.
• Provide operational analysis to identify problems/opportunities, recommend solutions and facilitate accurate decisions and strategies. Examples include 80/20 analysis, price/cost analysis, etc.
• In addition to the duties listed above, the position holder must carry out tasks assigned by their supervisor that are essentially related to their duties.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.  The requirements listed below are representative of the knowledge, skill and/or ability per the following:

• Bachelor’s degree in Accounting, Finance or similar field of study required; Master’s degree preferred.
• Minimum 7 years of accounting experience with 3 years of experience in managing accounting teams or direct reports required.
• High proficiency in Microsoft Office Applications (Word, Excel, PowerPoint). Power BI experience preferred.
• Must be able to adhere to deadlines, manage conflicting priorities and work under pressure.
• Ability to analyze financial data and prepare analysis and forecasts as needed.
• Strong communication, interpersonal, problem-s