Finance Analyst - Inventory
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We are looking for a talented Finance Analyst - Inventory to join our team in Tuas South, Singapore. This will be following Hybrid work model.
In this role, you will make an impact in the following ways:
· Responsible for conducting cost analysis to support management in making operating decisions.
· Runs monthly cost updates and/or prepares standard cost data including annual cost role up.
· Maintains cost master; creates and maintains costing for new items.
· Develops and conducts basic cost audits and cost analysis.
· Analyzes cost variances (IPV (Invoice Price Variance/PPV (Purchase Price Variance) and monthly movements), determines root causes, and prepares recommendations and alternatives for improvements for review by supervisor.
· Identifies data analysis needs and works with appropriate departments to obtain the data on a regular basis.
· Prepares analysis and drafts presentation materials for review by supervisor.
· Assists in the inventory valuation process.
To be successful in this role you will need the following:
- US Generally Accepted Accounting Principles - Evaluates US accounting standards to record transactions in compliance with requirements and company policies; assesses the accounting requirements and objectives to determine the implications on the business and communicate to stakeholders with varying financial knowledge.
- Financial Reporting - Analyses financial data by evaluating results and solutions to support business decisions; prepares and presents financial information by summarizing data to communicate results in compliance with regulations and stakeholder expectations; partners with stakeholders to drive financial performance that aligns to organizational goals and strategies.
- Financial Internal Controls - Leverages internal control framework by assessing internal controls and developing remediation plans to mitigate financial reporting risks and respond to changing business needs.
- Business Partnering - Collaborates with stakeholders and develops partnerships to drive performance that aligns to organizational goals and strategies; influences the organization by demonstrating knowledge of the business to provide guidance to support the decision-making process and guiding the business towards positive results and organizational alignment; evaluates business environment using measures to mitigate risk and capitalize on opportunities.
- Financial Analysis - Interprets financial data by analyzing trends, variances, opportunities, and risks to provide insight to stakeholders regarding financial impact to drive business improvement; evaluates financial results against targets to communicate conclusions to all stakeholders; ensures integrity of financial data by investigating variances and determining corrective actions to resolve identified issues.
- Product Costing - Establishes total material costs to ensure compliance with policies and completeness of the bill of materials; develops labor and overhead rates to ensure inventory costed in compliance with company policies; analyses actual cost to understand variances to estimates to improve integrity of results.
- Action oriented - Taking on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm.
- Collaborates - Building partnerships and working collaboratively with others to meet shared objectives.
- Communicates effectively - Developing and delivering multi-mode communications that convey a clear understanding of the unique needs of different audiences.
- Nimble learning - Actively learning through experimentation when tackling new problems, using both successes and failures as learning fodder.
- Self-development - Actively seeking new ways to grow and be challenged using both formal and informal development channels.
- Balances stakeholders - Anticipating and balancing the needs of multiple stakeholders.
Preferred Qualifications:
- College, university, or equivalent degree in Accounting, Finance or equivalent field or studying for accounting entry qualifications.
- Minimal relevant professional work experience in the field of study required.
- Not able to support cross-border relocation.
- Financial/ Month End Accounting
- Month end accounting for inventory related journals such as – FIFO (First In First Out), external suppliers’ transit, EnO (excess and obsolete) & NRV (Net realizable value) accruals, etc
- Month end accounting for GPL (Global Planning Logistics) Transportation – accruals, cross-charges, etc.
- Preparer for working file to review GPL Transportation financial performance (actual vs. forecast, actual vs. AOP) for internal review and Corp submission.
- ARM reconciliations
- Manage Indirect GRNI (Goods received not invoiced)– ensure work to clear down aged items.
- Other Tasks
- Preparer for inventory annual API exemption request
- Preparer and in charge for inventory costing (annual, half year and adhoc)
- Preparer for GPL Transportation forecast and AOP working files.
Support statutory requests.
- Support submission of monthly cash forecast for Corp Treasury
- Business Partnering for Singapore GPL Transportation site (provides data, work with stakeholders for certain information used in forecast, etc)
- Develops and improves procedures.
- Support ad-hoc work as required.
Compensation and Benefits
- Salary rate commensurate with experience. Flexi Benefits, Variable Compensation (bonus). Annual Salary Review. Life Insurance. Medical, Dental / Hospitalization Insurance.
At Cummins, we are an equal opportunity employer dedicated to diversity in the workplace. Our policy is to provide equal employment opportunities to all qualified persons without regard to race, gender, colour, disability, national origin, age, religion, union affiliation, sexual orientation, veteran status, citizenship, gender identity and/or expression, or other status protected by law.
