Accounting Woodcliff Lake, New Jersey 01.10.2024
Senior Inventory Accountant & Analyst
As an independent group of companies, the BMW Group has a commitment to creativity and breakthrough ideas that goes well beyond the racetrack. In order to continuously create ultimate driving machines, we drive our growth and design excellence by staffing our teams with individuals who are innovative and always looking for the next great idea. If you share our vision and view yourself as an independent, creative thinker, we invite you to join our team in this exceptional role located in Woodcliff Lake, NJ.
The Senior Inventory Accountant & Analyst, focused on Vehicles for BMW of North America, is responsible for performing operational accounting and reporting in compliance with International Financial Reporting Standards (IFRS), BMW Group Accounting Guidelines (eGAAP), and other relevant financial policies and procedures. This role specializes in inventory operational and project topics related to aftersales parts, including the reconciliation and analysis of parts inventory, as well as inventory related to ConDC initiatives. The Senior Inventory Accountant & Analyst plays a crucial role in maintaining accurate inventory records and ensuring compliance with financial standards and guidelines. Attention to detail, strong analytical skills, and the ability to resolve inventory-related issues are essential for success in this role.
Key Responsibilities:
- Independently performs the month-end close process, including processing journal entries, account reconciliation, and financial reporting for Parts inventory.
- Supports in the preparation, analysis, and reconciliation of inventory balances for Vehicles and Parts by overseeing accurate and timely close processes and implementing measures to ensure appropriate recording of all material transactions.
- Ensures the timely recognition of cost of sales, in alignment with the relevant revenues, within the appropriate accounting period, and group eGAAP guidelines (IFRS).
- Participates in the organization and performance of physical or virtual inventories audit counts for Cars, Motorcycles, and Parts - 29 locations across the United States, including reconciling and analyzing the physical inventory.
- Produces periodic and ad hoc reporting to management on topics relevant to the Inventory function.
- Ensures proper reconciliation between ERP system (SAP) and comprehensive understanding of source system landscape to interpret financial transactions information, enabling data-driven decision-making and reconciliations of critical accounts.
- Supports annual audit and half year review of the financial statements as it relates to Inventory and footnotes performed by an external, independent Certified Public Accounting firm.
- Continually seeks new methods to streamline, automate, and simplify the company's accounting process in the areas of inventory.
- Supports projects related to team enhancements around data and reporting initiatives.
Join the BMW North America team and enjoy a high-performance Total Rewards package that may include:
- Medical, Dental, and Vision insurance
- All with options for $0 Employee contribution
- 401(k) with Company match
- Retirement Income Account (RIA)
- Employee vehicle program
- Paid Parental Leave of up to 6 weeks
- Paid Time Off in addition to Company paid holidays where eligible
- Hybrid work environment
- Voluntary Benefits to fit your needs
The pay range for this role is: $86,084.00 - $101,275.00.
The selected candidate’s education, skills, experience, and location will be used to determine the final salary offer. All pay ranges are based on a full-time work schedule. This statement is in accordance with state and local pay disclosure requirements.
Even more so than the generous compensation and benefits, the culture and values of BMW of North America makes it the ultimate working environment. These values are Responsibility, Appreciation, Transparency, Trust, and Openness. We allow these values to guide the way we conduct ourselves and our business.
At BMW, we are driven by diversity, equity, and inclusion. We are proud to be an Equal Opportunity Employer and are welcoming of all individuals, regardless of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status.
Requirements:
- Bachelors Degree (Major in Accounting)
- 5+ years of experience in cost accounting, public accounting or general corporate accounting
- Microsoft Office – Excel, Outlook, Word, PowerPoint
- Working knowledge of SAP experience or equivalent ERP System, and parts inventory management tools (i.e. Atlas)
- Very strong affinity for systems – usage of several local systems required to effectively function in this position. Ability to perform queries within large databases is essential
- Understanding of International Financial Reporting Standards topics around inventory (Valuation, etc.)
- Strong communication skills both verbal and written to both technical and non-technical people as well as to upper management required
Preferences:
- Certified Public Accountant, MBA or equivalent in Finance/Accounting preferred
- 1+ years of collaborating on projects with diverse and distributed teams.
- 1+ years of technical accounting experience preparing accounting memoranda documenting.
- 1+ years of proven cross-functional collaboration
- Basic knowledge of BI Tools (Tableau, Power BI, Qlik etc.)
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