Division Controller in Hebron, IL at ITW

Date Posted: 3/12/2020

Job Snapshot

  • Employee Type:
  • Location:
    11411 Price Road
    Hebron, IL
  • Job Type:
  • Experience:
    At least 10 year(s)
  • Date Posted:

Job Description

ITW Description:

Founded in 1912, Illinois Tool Works Inc. (NYSE: ITW) is a diversified, Fortune 200 manufacturing company that delivers specialized expertise, innovative thinking and value-added products to meet critical customer needs in a variety of industries. Ranked among Fortune’s Magazine’s most admired companies, the company focuses on solid growth, improving profitability and strong returns across its worldwide platforms and divisions. These divisions serve customers and markets around the globe, with a significant presence in developed as well as emerging markets. ITW’s revenues totaled $14.8 billion in 2018.

Division Description:

ITW Medical manufactures and sells components and finished devices for use in Medical Imaging, Filtration, Infusion, and Minimally Invasive applications. We offer three highly-respected medical product brands - Coeur, Filtertek & Precise Biomedical – supplying medical devices, components and service to global medical device brands.   Filtertek manufactures molded filtration and flow control components.  Precise provides technical service, maintenance & training for contrast media injectors. Coeur is a leading provider of disposable diagnostic imaging consumables.  Our division has 5 locations (4 US based, 1 located in Ireland) and 360 full-time employees.

Position Summary:

The Division Controller is a Financial Leader who will report to the VP/GM for the division.  The position is responsible for functions ranging from financial reporting and analysis, internal accounting controls, compliance with financial policies, operating analysis and reporting and leadership of global accounting teams.  The successful candidate will have exceptional skills in the areas outlined above, as well as a solid understanding of IT business systems.  The candidate will also be responsible for directing and coordinating activities of a multi-site, global organization to obtain optimum efficiency and economy of financial systems.  There are four direct reports to this position (Finance Manager, Cost Accountant, Staff Accountant, and Sr Accountant).

Essential Duties and Responsibilities:

Financial Reporting and Control

  • Manage and control the financial activities, transactions and resources (people and process) of the division.
  • Ensure accurate and timely reporting of business financial information in compliance with ITW policies and GAAP.
  • Leads division by driving the ITW Principles (80/20, Product Line Simplification, Market Rate of Demand and In-Lining) to eliminate complexity and improve the profitability of the division.
  • Plan, coordinate and administer the division’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
  • Consolidate accounting data and prepare reports necessary for leadership team to keep abreast of the financial status of the division and to identify potential problem or deficient areas.
  • Effectively communicate and coordinate the exchange of financial information (plans, actual results and outlook) to key stakeholders.

Operating Analysis and Planning

  • Prepare and communicate monthly forecasts, end-of-month and mid-month outlook updates, revenue and OI flash reporting
  • Deliver short and long-term forecasting.
  • Provide measurable and accurate financial targets to evaluate the financial performance of the business.
  • Possess strong business analytical skills with an 80/20 mindset.
  • Demonstrated manufacturing experience, translating KPI’s into immediate improvement actions, decreasing costs/increasing revenue. Be an effective business partner to the VP/GM and Division leadership team.

Strategic Planning

  • Contribute to the vision and implementation of strategic long-range plans, capital investments, restructuring projects, information systems and critical ad-hoc opportunities.
  • Develop/Manage annual and long-range operating and financial plans.
  • Challenge and collaborate with leadership team including Operations, Sales, Human Resources, and Engineering Resources with insightful analysis of the business, contributing ideas to drive improvement through the business.
  • Build cross-department credibility, confidence, and collaboration with other functional areas.

Capital Management and Investment Analysis

  • Evaluate projects that support additional investment or enhance the current development of assets and resources with the goal of driving revenue growth and improving the profitability of the division.

People Leadership & Talent Development

  • Develop and lead proficient Finance and IT teams focused on profitable growth, while improving customer satisfaction and simplifying business processes.
  • Identify, lead and develop talent in order to maximize individual, team and organizational effectiveness in meeting organizational goals. This may include: selection and onboarding of talent; communicating effectively to foster a culture of engagement, cascading vision, creating goal alignment, and coaching through feedback, and development planning.

Job Requirements

Position Skills and Experience Requirements:

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 required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. 

  • Bachelor’s degree in Accounting required.  Master’s degree or additional education experiences (CPA, CMA) a plus
  • 10+ years of progressive experience in financial reporting, planning & analysis, inventory control, tracking and managing costs against a budget, and driving activities for effective P&L results required.
  • 4+ years of experience in managing accounting teams or direct reports preferred.
  • Track record of effectively partnering with leadership, translating data into useful information about the business, and influencing strategic initiatives.
  • Experience leading teams and operating in a multi-site, manufacturing environment.
  • Experience implementing and working with information technology/ERP systems; utilizing systems to drive business automation and simplification.
  • Excellent time management, prioritization abilities, and strong project management skills.
  • Excellent problem-solving skills with focus on continuous improvement techniques.
  • Ability to learn, understand and execute ITW Business Model.
  • Strong business analytical skills, with 80/20 mindset.
  • Excellent interpersonal, communication (written and verbal), and presentation skills.
  • Ability to generate respect and trust from staff and external constituencies along with the ability to work collaboratively with colleagues and staff to create a results-driven, team-oriented environment.
  • Proficient computer skills, including Microsoft Office Suite (Word, PowerPoint, Outlook, and Excel).
  • Willing to travel < 30%, some international may be required.

Working Conditions and Physical Effort:

  • Work is normally performed in a typical interior/office work environment.
  • Limited physical effort required.  Limited exposure to physical risk. Some exposure to physical risk in production and lab areas, which may include limited exposure to chemicals, heat, humidity, machinery with moving parts, and noise. PPE required.