Senior Accountant

About ITT:

ITT is an industrial manufacturer of critical, engineered components that serve fast-growing end markets in transportation, flow, energy, aerospace and defense. The company’s differentiation is sustained through a combination of several factors: execution, the quality of its leadership and our DNA as an engineering leader. We have a clear purpose as an organization: to provide our customers with cutting-edge solutions to help solve their most critical needs.

The company generated 2023 revenues of $3.3 billion and is comprised of three distinct segments:

• Motion Technologies($1.5B revenue) is a global leader in brake pads, shock absorbers and sealing solutions for the automotive and rail markets
• Industrial Process($1.1B revenue) is a global leader in centrifugal and twin-screw pumps for the chemical, energy, mining and industrial markets
• Connect & Control Technologies($0.7B) is a niche player in harsh environment connectors and control components in critical applications for the aerospace, defense and industrial markets.

ITT is headquartered in Stamford, Connecticut with over 10,000 employees in more than 35 countries and sales in approximately 125 countries.

Position Summary

Reporting directly to the Regional Finance Controller with a dotted line to the General Manager of the facility in Normanton. The Senior accountant shall be responsible for all areas relating to financial and administrative matters at the facility, including all financial reporting, as well as compliance with company policies & statutory requirements.

Occasional international travel as advised by the Finance Controller.

Essential Responsibilities

Accounting/Bookkeeping

• Handle day to day bookkeeping function of the operation, with appropriate back-up documentation.
• Reconcile all bank accounts and intercompany accounts monthly and appropriately document adjustments where required.
• Control capital expenditure and maintain fixed asset register, as well as keep custody of all inventory. Prepare PAR as required for capital & leases.
• Oversee Treasury functions and co-ordinate with bankers, ensuring the company payments and bank arrangements run smoothly.
• Control cashbooks (GBP & USD), reconcile bank statements and purchase ledger, ensuring coding is correct.
• Prepare Concur (employee expenses) posting file and reconcile to intercompany balance.
• Match purchase orders and post purchase invoices.
• Process payment of suppliers on a timely basis and match payments to invoices; prepare supplier account reconciliations
• Prepare monthly customer payment performance report, distribute, and answer questions. Monitor stage payments, maintain the corresponding reports.
• Agents’ commission – collate, support and pay in accordance with signed contracts
• Liaise with Shared Services to facilitate debt collection, as well as the opening of new accounts
• Discuss, prepare and post customer credit notes and tabulate reasons for credit notes.
• Agree intercompany AR balances, resolve issues, chase monies or agree netting amounts. Also send invoices to USA P2P system.

Financial Reporting

• Oversee all financial aspects of the operation, discussing with management, steering the company to achieve its strategic plans and financial goals
• Assist in the preparation / Submit on a timely & accurate manner all monthly financial reporting as well as ad-hoc reports as required by Corporate, including monthly outlooks, forecast & budget as applicable.
• Prepare adjusting and closing entries, being responsible for month end, as well as year-end, close reporting requirements.
• Ensure compliance with ITT policies & processes, including the Delegation of Authority (DoA), optimizing controls and improving efficiency, support local management to identify cost savings initiatives, control costs & improve financial performance.

Compliance with policies & processes

• Implement and ensure compliance with all corporate policies, as well as formulate local policies to help cultivate an effective facility.
• Act as custodian of the companies’ assets, taking appropriate action to protect all company assets and to prevent the diminution of the net worth of the operation.
• Ensure compliance with local legal, accounting, audit & tax standards

Audit & tax

• Liaise with internal and external auditors. Responsible for the internal controls of the company and must review the internal controls regularly and be sharp in spotting internal control weaknesses and to take necessary corrective action.
• Maintain a clean audit report at all times. Be familiar with Sarbanes Oxley Act requirements.
• Maintain a clean balance sheet support records (called the ownership book), detailing every item on the balance sheet, updated on a monthly basis.
• Ensure that accounting entries & provisions are made in accordance with ITT policy.
• Ensure compliance with import/export regulations and payment terms and procedures.
• Handle Corporate tax matters.
• Complete VAT returns and reconcile to general ledger

Position Requirements

• Accounting qualified – CIMA/ACCA/ACA would be an asset
• Experience in a similar senior accounting role
• Minimum 3-5 years experience as an Accountant, ideally with a manufacturing/servicing background.
• Auditing background preferable
• Good knowledge of Accounting & Tax issues.

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