Job Description:

COMPANY DESCRIPTION:

Illinois Tool Works, Inc. (NYSE: ITW) is a Fortune 200 global industrial company centered on a differentiated business model. The company’s seven business segments leverage the 80/20 business model to generate solid growth, best-in-class margins and favorable returns in markets where innovative, customer-focused solutions are required. ITW delivers specialized expertise, innovative thinking and value-added products to meet critical customer needs in a variety of industries targeting sustainable and profitable organic growth. The Seats (HRB) and Motion business fits within the Seats & Motion Division and is a market leader in the manufacture of plastic head-rest bezels, battery indicators, and interior dampers and latches.

POSITION SUMMARY:

The Assistant Controller will support the Motion (Frankfort, IL) Business and work in conjunction with the EUR Business Unit Controller and Operations Management to improve operating income through implementation of the 80/20 Principle, production line analysis and simplification, process improvements and financial controls. The Assistant Controller will help establish and maintain adequate internal control systems to ensure conformance with prescribed policies and procedures for both ITW and statutory requirements.  Statutory requirements include financial, tax, and legal matters for the legal entity.

PRIMARY RESPONSIBILITIES: may include all the following. Other duties may be assigned.

Financial Planning & Reporting:

Provides direction and assistance to all departments: operations, purchasing, sales, engineering etc., in the preparation of the annual budget. Coordinate and direct the financial planning, budgeting and reporting for the organization.  Prepare or direct preparation of financial statements, business reports, annual reports, budgets and/or reports required by corporate and/or regulatory agencies.Ensure an accurate and timely monthly, quarterly and year end close.Effectively communicate and coordinate the exchange of financial information to key stakeholders.Assists compiling financials for the long-range plan (LRP) process and helps to communicate the strategy among others at the unit. Prepares of monthly forecasts, end of month and mid-month outlook updates, revenue and OI flash reporting.   

Financial Records & Internal Controls:

Responsible for all Accounting functions including cash receipts and disbursements, credit and collection processes. Manages Accounts Receivable and Accounts Payable.Manage compliance with accounting policies and procedures to ensure accurate and timely financial statements. Responsible for tax compliance. Performs reconciliations on all Balance Sheet accounts.  Main contact for both internal and statutory audits.Ensure the correctness of the physical inventory and its valuation, effectiveness of inventory control systems and adequacy of physical inventory procedures.  Establish procedures which test the accuracy and integrity of all mechanized data bases.  Work with all relevant departments to control the Inventory related metrics.Maintains records of all capital projects; actively involved in capital project planning, analysis, approval and audits. Responsible for maintaining all assets in FAS and job cost systems.Coordinate internal and external audits as well as other corporate requests.

Financial Analysis / Continuous Improvement:

Responsible for identifying improvement areas of the business and aids in the analysis and resolution of day-to-day problems. Conceives, priorities, and delivers improvement opportunities in all areas. Conducts and administers the Operating Unit’s accounting functions, including cost accounting, general accounting, inventory accounting, payroll accounting, accounts payable, accounts receivable, profit planning, earnings estimates, other forecasts and special economic analysis. Consolidates accounting data and prepares reports necessary for management to keep abreast of the financial status of the unit and to identify potential problems or deficient areas.Analyze and understand trends, both positive and negative, and leverage that knowledge across the businessLead and/or participate in ITW Toolbox Initiatives within the business (80/20, USa, PLS)

Team Leadership & Development:

Serves on the Facilities Leadership Team to drive a positive culture of engagement and accountability.Assists the EUR Controller and Operations Management Team in creation and execution of organization strategy for the function. 

EDUCATION, KNOWLEDGE & SKILLS REQUIRED:

Education: BS/BA Degree in Accounting or related field required

At least five (5) years’ experience; ideally gained through increasingly responsible management positions in the Finance/Accounting area. Preferably within a Manufacturing or Public Accounting organization.Strong IT knowledge with excellent computer skills (Microsoft and General Ledger applications).  Working knowledge of manual and automated accounting systems.Working knowledge and experience in process simplification and/or value analysis.Excellent oral, written and interpersonal communication skills.Flexible, self-starter that adapts well to changeTeam player with strong interpersonal skillsA good understanding of all functional areas of a business and what drives financial results

OTHER REQUIREMENTS AND CONDITIONS:

Physical/Visual Activities or Demands: Physical/visual activities or demands that are commonly associated with the performance of the functions of this job.

While performing the duties of this job, the employee is constantly required to talk, hear, twist/turn, reach outward, handle/manipulate and grasp objects, stand, walk, and bend. Employee will frequently reach above shoulders and occasionally climb or squat. The employee must carry up to 50 pounds constantly and up to 100 pounds occasionally and push and pull up to 10 pounds constantly and up to 100 pounds occasionally. Specific vision abilities required by this job include concentrated attention, close vision, far vision, depth perception, color vision, and the ability to bring objects into sharp focus. 

Working Conditions:

Working conditions commonly associated with the performance of the functions of this job.

Typical office conditions (100%)Typical manufacturing conditions (5%) with exposure to machineryDomestic & International Travel (