Cliffs Natural Resources
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Financial Planning and Analysis Lead
at Cliffs Natural Resources
About Cleveland-Cliffs Inc.
Founded in 1847, Cleveland-Cliffs Inc. is the largest and oldest independent iron ore mining company in the United States. We are a major supplier of iron ore pellets to the North American steel industry from our mines and pellet plants located in Michigan and Minnesota. By 2020, Cliffs expects to be the sole producer of hot briquetted iron (HBI) in the Great Lakes region with the development of its first production plant in Toledo, OH. Driven by the core values of safety, social, environmental and capital stewardship, our employees endeavor to provide all stakeholders with operating and financial transparency. For more information, visit http://www.clevelandcliffs.com
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The Financial Planning and Analysis Lead (FP&A Lead) will act as a partner to plant operations leadership to establish and improve operational efficiency and cost controls. This role will also be the liaison between the Operations and Finance teams including directing the forecasting and budgeting processes. The FP&A Lead will be directly responsible for compiling and analyzing operating KPI’s, expenditures, and performance reports. This role will actively challenge spend and productivity in a world class processing operation.
Specific Responsibilities/Essential Functions:
- Establish and maintain effective and accurate key performance indicators (KPI’s) that drive appropriate spend and productivity.
- Manage annual budget and forecast process, along with any ad hoc financial analysis.
- Manage capital expenditure process for business unit. To include all support documentation for expenditures. Analyze/monitor capital spending requests in comparison to forecast/budget
- Conduct comprehensive variance analysis across all financial metrics, and provide to operational leadership team to drive ongoing business improvements.
- Plans, studies and collects data to determine costs associated with productivity, capital spend, inventory, maintenance, utilities, labor.
- Analyzes actual manufacturing costs and prepares periodic report comparing forecast, budget, and standard costs to actual production costs.
- Partner with the accountant and controller to support the day-to-day operations of the finance organization.
- Develop monthly financial analysis and operating performance reports with recommendations on opportunities for improvement.
- Primary liaison with IT to develop effective business intelligence tools.
- Develop hourly labor and productivity performance reports with recommendations on opportunities for improvement.
- Assist in the design and development of reporting systems for synthesis of financial information to allow accurate decision making.
- Assist in review of general ledger account reconciliations in accordance with company policy. Includes recommendations for changes to increase accuracy of the balance sheet for business unit.
- Direct interface with audit functions by providing business context, reports, explanation, etc. (internal, external, SOX compliance, etc.)
- Prepare and analyze regular and ad hoc financial, statistical, and analytical information and reports as required.
- Perform other duties as assigned by the department head.
- Bachelor’s degree in accounting or related field.
- 7+ years’ experience in financial planning & analysis (FP&A) and/or Accounting. Strong FP&A experience (budgeting/planning, variance analysis, reporting and financial modeling) is preferred.
- Demonstrated experience in implementing, maintaining, and driving improvement of KPI’s.
- Prior experience utilizing business intelligence software.
- Experience in working directly with an Operations team in a manufacturing and/or processing environment.
- Proven communication skills, as the role will entail significant cross-functional interaction throughout the organization.
- Demonstrated analytical skills and leadership skills to drive change.
Basic Job Knowledge- understands theories, principles, procedures, systems and techniques in an industrial processing operation. Applies the knowledge and skills needed to do the job, including technical competence in one’s own field and familiarity with policies and practices of the broader function, the organization and the industry.
Ethics and Values- adheres to a strong set of ethics and values during both good and bad times; acts consistent with those values; practices what he/she preaches.
Leadership Skills- understands the vision for the business unit that addresses its future requirements. Accomplishes this vision through serving as a positive role model.
Communication Skills- sends and receives information clearly, accurately, thoroughly and effectively with all levels of organization in a timely manner.
Analysis- exhibits strong analytical skills. Spots trends and identifies opportunities for cost savings and other operational improvements.
Results- completes assignments on time and on budget. Has a bias for action and takes steps to ensure prompt follow-through and resolution of issues.
Product Quality- understands and supports the quality management system. Consistently looks for ways to improve product quality to meet customer (internal and external) expectations. Supports the concept of continuous improvement.
Safety/Environment – makes safety an important part of all departmental operations. Communicates and implements safety and loss control standards, company safety rules and OSHA regulations. Understands and communicates environmental policies and procedures, and operates in a manner consistent with environmental responsibility.
Waste Elimination- looks for more efficient ways of conducting business. Motivates and encourages people to get the job done with minimum resource use.
Teamwork/Working Relationships - interacts with others in ways that enhance understanding and respect, perceiving their needs. Develops effective relations, and deals effectively with conflict.
Problem Solving and Decision Making – identifies problems and recognizes symptoms, causes, and alternative solutions. Makes timely, sound decisions even under conditions of risk and uncertainty.
Motivation and Commitment- establishes high performance standards and works hard to attain them. Takes initiative, and demonstrates commitment to the professional management of the organization.
Adapts appropriately to change.