Controller, Group

What we offer:
At Magna, you can expect an engaging and dynamic environment where you can help to develop industry-leading automotive technologies. We invest in our employees, providing them with the support and resources they need to succeed. As a member of our global team, you can expect exciting, varied responsibilities as well as a wide range of development prospects. Because we believe that your career path should be as unique as you are.
Group Summary:
Magna is an innovative leader in the development and manufacturing of high quality complete seating systems. Our solution includes seating structures, mechanisms and hardware, as well as foam and trim products for global automotive, heavy truck and bus industries. Our capabilities include market and consumer research; full concept development; design and engineering capabilities; testing, validation and world-class manufacturing. Our award-winning seating solutions are developed from consumer research, finding the ease of operation to be comfortable, convenient and connected.
Job Responsibilities:
Essential Duties and Responsibilities
Financial Reporting:

• One Stream and all validation reporting to ensure Actuals, Budgets, Forecasts are accurate for assigned divisions.
• Review One Stream for balance sheet and income statement accuracy
• Ensure timely reporting complying to Group and Corporate requirements
• Review monthly divisional financial statements and consolidate sub-groups / segments, presents variance analysis between business plan/latest forecast to actual results to the Director of Operations, VP of Operations, VP of Finance, and President (for assigned divisions.)
• Prepare quarterly reporting, review with appropriate Group Management, and submits for the review of Magna corporate office for divisions assigned.
• Ensure divisional and group balance sheets are reconciled and are consistent with accounting practices
• Ensure Judgement Accruals are reviewed with Group management periodically
• Manage, support and communicate timely intercompany disputes or mismatches

Business Planning and Forecasts:

• Prepare and communicate business plan and Forecast calendars to allow divisional preparation, consolidations and management reviews, complying to corporate timing and package requirements
• Assure management assumptions are properly integrated and reflected into the financials
• Identify and communicate relevant financials risks and opportunities
• Support group management with quarterly forecast and annual business plan including presentation to Seating President

Business quotes, program launches support and capital expenditure:

• Review new business quotes to ensure they meet minimum financial targets (ROIC, IRR, ROS, etc.)
• Review and ensure proper existing costs allocations are considered (i.e. existing Capital, overhead, SGA, etc)
• Review and sign off on program Launch ROS at least on a quarterly basis, before Magna financial forecast calendar
• Provide Qtrly and Annual commercial and economic updated analytics to support guidance for business plan and forecasts
• Ensure divisional Capital Expenditure projects are prepared following minimum requirements.

Divisional Supervision and Support

• Provide oversite to divisions controllers of which plants you are responsible
• Periodic visits to assigned divisions to perform balance sheet review and general support
• Liaison with other departments in Novi to provide support to assigned plants
• Support onboarding of new division controllers

Commodities Indexing and others related:

• Understand and ensure commodity indexing agreements in effect are accounted accurately (Steel, Chemicals, etc)
• For planning and quarterly forecast, validate overall guidance of prices and costs associated to commodities under indexes (i.e. steel, chemicals, etc)

• Understand and track supplier agreements in terms of steel / scrap management

Support to Management:

• Assist and support management on Special Projects, Analytics and Scorecards
• Provide insights and recommendations from financial perspective to support management decisions

• Tracks and acts to keep Working Capital at lower possible levels (as example: monitor and act on AR Overdues, review and act on other credits conversion to cash - VAT, understand tooling project timeline and secure timely collections)
• Actively monitor Continous Improvement reporting integrity as weel as communicate deviations on a timely manner

Auditing:

• Perform Annual CMF review for assigned divisions
• Global Seating Audit and SOX "one point of contact" for Corporate Audit/Controls and External Auditors
  • Oversight of regional coordinators, drive resolution and remediation of audit issues
  • Manage compliance and ensure accurate monthly financial statements, compliance to Magna minimum controls.
  • Manage submission compliance globally of the 302/404 SOX reporting process, ensure regions are in "compliance".
  • Liaison with External and Internal Audit and continue to participate in ways to improve process, reduce costs and ensure optimal control environment
• Manages Seating Global Magna internal and external audits in the review of financial statements and internal controls.
• Track open issues arising from divisional audits until closure. Prepare quarterly internal audit presentation.

Other activities:

• Manage all new global requests from Corporate finance for new accounting activities (i.e., Lease Accounting, special projects etc.)
• Manage all global financial reporting requests specifically for Corporate (COQ, Charitable Contributions, etc.)
• Adapt and proactively embrace new activities as business evolves or management requests
• Ensure employees work in the manner consistent with the organizations established objectives and targets utilizing protective equipment, devices, measures, and procedures as promulgated by state and federal regulations. Establish clear goals for workplace health and safety. Complete safety talks, safety meetings, and required training occur, as defined.

Education
Bachelor's degree (or bachelor's equivalency) in accounting, finance, or related field; or equivalent combination of education and experience.
Experience/Special Knowledge/Skills

• Minimum five (5) years as a divisional controller.
• Minimum ten (10) years' experience in accounting to include managing company financial summaries such as month-end, year-end, and operation reviews, managing the year-end auditing process, developing business plans, developing cost containment systems, researching, and analyzing cost containment/profit improvement systems, and analyzing, recommending, and managing financial information systems.
• Must be familiar with cost accounting methods relating to OEM applications in a manufacturing and corporate environment.
• Broad knowledge and application of modern quantitative and qualitative financial analysis techniques such as cash flow, new present value, return of assets/investments, differential analysis, depreciation, working capital and/or investments.
• Broad knowledge of Information Technology products including MRP systems, financial systems (SAP, HFM), and IT related hardware and applications, including system set up and new migrations project plans; very strong end-user skills with MS Office products, including Word, Excel, database applications etc. as well as email systems, etc.
• Minimum three (3) years supervisory experience.
• Strong communication skills: verbal, written, and technical presentations.
• Demonstrated successful performance with independent and team problem solving, presentations, leadership, and coordinating and completing multiple tasks within and across departments to meet changing deadlines.

Awareness, Unity, Empowerment:
At Magna, we believe that a diverse workforce is critical to our success. That's why we are proud to be an equal opportunity employer. We hire on the basis of experience and qualifications, and in consideration of job requirements, regardless of, in particular, color, ancestry, religion, gender, origin, sexual orientation, age, citizenship, marital status, disability or gender identity. Magna takes the privacy of your personal information seriously. We discourage you from sending applications via email to comply with GDPR requirements and your local Data Privacy Law.
Worker Type:
Regular / Permanent
Group:
Magna Seating