Description
The senior financial analyst will work within the financial reporting team and with various other departments to ensure accurate financial reporting throughout the organization. This role involves owning the lease accounting process for the company and assisting with the preparation of the company's financial statements and reports, ensuring compliance with financial regulations and standards.
The ideal candidate will possess an understanding of accounting standards, including ASC 842, and financial reporting in the United States and related regulatory environments. This role requires a strong ability to collaborate across finance and at times, other functions, and support change as new regulations are enacted.
This position reports directly to the Director- Financial Reporting and Acquisition Accounting of Applied Industrial Technologies (Applied), a U.S.-based public company traded on the NYSE.
Key Responsibilities:
1. Accounting Services:
- Lease Accounting
o Maintain and update the lease accounting system with new leases, modifications, terminations, and renewals
Ensure compliance with ASC 842
Record monthly journal entries related to lease expense, depreciation, amortization, interest, and remeasurements
Perform monthly and quarterly reconciliations of lease-related balance sheet and income statement accounts
Provide variance analysis and explanations for lease-related accounts
2. Financial Reporting:
- Participating in the preparation and distribution of monthly internal financial statements
- Participating in the preparation, documentation and analysis of the Company's periodic SEC and regulatory reporting and disclosures.
- Support the internal and external auditors for annual audit processes.
- Assisting with development and maintenance of the integrity of the financial reporting process and internal controls over financial reporting
- Participating in evaluation and implementation of new accounting standards and financial reporting requirements
- Interfacing with and support various departments within the organization (legal, investor relations, treasury, etc.)
Qualifications:
Education:
- Bachelor's degree in accounting, finance, or related field; MBA or advanced degree preferred.
- CPA or equivalent professional financial designation highly desirable.
Experience:
- At least 2 years of progressive experience in finance and accounting.
- Experience working with or in a U.S.-listed public company a plus.
- Experience with lease accounting and lease accounting software a plus.
- Experience working with U.S. GAAP.
Skills & Competencies:
- Strong financial analytical skills, with the ability to identify trends and accuracy in financial data and turn them into actionable insights.
- Proficiency in financial systems (e.g., lease accounting systems and financial reporting systems); experience in broad ERPs (e.g. SAP, Oracle, Microsoft Excel) and business intelligence tools a plus.
- Excellent written and verbal communication and interpersonal skills, with the ability to influence and collaborate effectively across all levels of the organization.
- Ability to develop detailed project plans, set goals, define tasks and allocate resources efficiently to ensure that deadlines are met to maintain compliance with reporting deadlines or proactively manage change with new standards or regulations.
- Solid decision-making skills to guide projects toward successful completion.
- Strong organizational skills to manage multiple tasks, deadlines, and stakeholders simultaneously.
- Flexibility to adapt to changing project requirements, stakeholder needs, and external factors.
- Knowledge of ASC 842
Additional Requirements:
- This position is based in Cleveland, Ohio with limited travel to subsidiary offices or branch locations.
Founded in 1923, Applied Industrial Technologies (NYSE: AIT) is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. Our leading brands, specialized services, and comprehensive knowledge serve MRO and OEM end users in virtually all industrial markets through our multi-channel capabilities that provide choice, convenience, and expertise.
Applied Industrial Technologies is built on a philosophy that puts people first. We are an equal opportunity employer, and we are committed to a workforce in which we enforce fair treatment and provide growth opportunities for everyone. All qualified applicants will receive consideration for employment regardless of age, race, color, national origin, genetics, religion, gender, marital status, physical or mental disability, or any other characteristic protected by applicable laws, regulations, and ordinances.
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