Accounting Manager in Glenview, IL at Magnaflux

Date Posted: 6/13/2018

Job Snapshot

Job Description

Magnaflux, a division of Illinois Tool Works (Fortune 250), is a leading worldwide supplier of magnetic particle, dye penetrant inspection equipment and associated chemical products used for applications within the Aerospace, Automotive, Oil & Gas and Energy markets.



With over 85 years in the industry, Magnaflux offers employees a competitive salary and comprehensive benefit package, including medical, dental and life insurance, 401(k) with immediate company match, and much more!


We are currently seeking an Accounting Manager who will be responsible for leading the accounting department to ensure all day-to-day, month-end and year-end activities are completed timely and accurately. This role will also assist in monthly forecasting of revenues, expenses and other financial metrics; and assist in corporate initiatives with ITW Toolbox Projects. This role reports to the Division Controller and is based in Glenview, IL. 



Essential Job Responsibilities:



  • Manage accounting department to ensure all day-to-day, month-end and year-end activities and reports are completed timely and accurately.

  • Perform supervisory activities including interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; addressing complaints and resolving problems

  • Responsible for Credit & Collections function, setting payment terms and credit limits for customers.

  • Verify compliance with ITW policies and procedures and internal controls.

  • Manage and review all internal department procedures to ensure adherence.  Make recommendations for improvements.

  • Regular review of inventory procedures to ensure they are accurate and complete.   Take lead in coordination of annual standard cost roll.  Ensure quarterly grading analysis is completed according to policy.

  • Perform monthly Corporate financial reporting and generate monthly financial reporting package for Magnaflux management including KPI’s, trend analysis, sales analysis, etc.

  • Analyze product line financial variances, material cost of sales, variable margin, and department specific overhead expenses.

  • Perform Strategic Sourcing reporting and analysis, quarterly, annually and prepare annual tax kit.

  • Assist with preparation of LRP, Annual Plan and forecasting.

  • Take lead in any internal and external audits.

  • Contribute to Toolbox improvement projects, including product line and process-specific simplification.


We do not accept unsolicited resumes. To be considered an applicant, please apply online to a specific job posting. No Phone Calls Please.



ITW is an equal opportunity/affirmative action employer.  All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law. 



If you are a qualified individual with a disability and are unable or limited in your ability to use or access the online application system process due to your disability, please visit our website for more information on how to apply.

Job Requirements

Knowledge, Skills, & Abilities:



·     B.S. Accounting with 5-7 years relevant work experience, including experience in the manufacturing industry. 1-2 years’ experience managing a team within the Accounting field. CPA required.



  • Must be proficient in MS Office Suite with highly advanced Excel skills including the ability to create and edit pivots, tables, charts, and graphs. Power BI or database experience highly preferred.

  • Proven ability to manage tight deadlines and conflicting priorities.

  • Ability to work independently with limited supervision while staying aligned to Division goals.

  • Strong verbal and written communication skills. Able to present complex information in a simple format.

  • Prior experience driving business simplification projects and process improvements.

  • Ability to travel up to 10%.



Must be legally authorized to work in country of employment without sponsorship for employment visa status