IMI plc

At IMI, we’re not just creating solutions; we’re building careers. So, unlock your potential: do work that matters, grow with us, and be part of a team shaping tomorrow.

Here, you can make a real difference – solving complex engineering challenges that make industries smarter, safer and more sustainable. From the energy that powers homes to the systems that keep the world moving, you’ll help create solutions the world depends on. 
But it’s not just about the work – it’s about how you grow. We encourage curiosity, make learning part of everyday life, and give you real opportunities to build new skills and move your career forward.
We believe in nurturing your wellbeing, too, with strong benefits and flexible policies that help you succeed. At IMI, you’ll find a supportive, collaborative and inclusive environment where you can truly thrive.

Role Overview:

The Cost Accountant serves as a strategic finance partner to Operations, Supply Chain, and Commercial teams, delivering accurate, data-driven manufacturing cost insights to support tactical and long-term decision-making. This role owns cost integrity and forecast accuracy for the Farmington, CT manufacturing facility and is responsible for translating complex operational and financial data into actionable recommendations that drive profitability, efficiency, and performance improvement.

The ideal candidate is highly analytical, detail-oriented, and capable of leveraging financial and operational data to identify trends, quantify risks, model scenarios, and influence cross-functional decision-making.

Work Environment: Onsite M-F with Remote Flexibility

Key Responsibilities:

Cost Integrity & Standard Cost Management

• Drive accuracy of Bills of Materials (BOMs), routings, labor standards, and overhead allocations to ensure reliable product costing.
• Evaluate and validate overhead and indirect labor absorption methodologies to ensure appropriate cost recovery.
• Conduct periodic cost audits to identify discrepancies and recommend corrective actions.

Annual Cost Roll & ERP Governance

• Lead the annual cost roll process, including validation of labor and overhead rate updates.
• Process cost updates within the ERP system and assess financial impact on inventory valuation, balance sheet, and P&L.
• Quantify revaluation impacts and clearly communicate financial implications to leadership.

Forecasting & Financial Modeling

• Develop, manage, and continuously improve plant-level cost forecasts using data-driven methodologies.
• Build scenario models to simulate the impact of changes in volume, mix, pricing, and input costs on profitability.
• Monitor key performance indicators (KPIs) to ensure financial objectives are met and risks are proactively identified.

Variance & Margin Analysis

• Perform detailed monthly variance analysis (standard vs. actual), including gross margin and absorption analysis.
• Identify root causes of cost variances and provide fact-based recommendations to improve margin performance.
• Present clear, data-supported insights to management to support corrective actions.

Material Cost & Inflation Management

• Analyze material cost fluctuations and purchase price variance (PPV).
• Partner with Supply Chain and Sales to mitigate inflationary pressures through pricing strategies, sourcing improvements, or cost optimization initiatives.

Inventory & Working Capital Management

• Lead finance activities related to annual physical inventory counts.
• Partner with Operations and Supply Chain to improve cycle count accuracy and strengthen internal controls, with the long-term objective of eliminating reliance on annual full counts.
• Own quarterly Excess & Obsolete (E&O) reserve calculations and proactively drive initiatives to reduce exposure.

Operational Performance & Productivity

• Partner with Quality and Operations to analyze scrap, yield, and efficiency data to support cost reduction initiatives.
• Evaluate financial impact of process improvements, automation, lean initiatives, and capital investments.
• Conduct financial analysis for capital expenditure proposals, including ROI and payback modeling.

Reporting & Cross-Functional Collaboration

• Deliver clear, concise monthly and ad hoc financial reports highlighting key cost drivers, risks, and product-level profitability actions.
• Collaborate extensively with Manufacturing, Engineering, Supply Chain, Sales, and Business Development to align financial insights with operational execution.
• Translate complex data into meaningful business narratives that inform strategic decisions.

Critical Competencies for Success:

Education & Experience

• Bachelor’s degree in Accounting, Finance, or related field.
• Minimum of 5 years of progressive experience in manufacturing cost accounting and/or public accounting.
• Demonstrated experience in large, global organizations with a track record of improving forecast accuracy and financial transparency.
• Formal accounting qualification (CPA, CMA, or equivalent) preferred, with evidence of ongoing professional development.

Technical & Analytical Skills

• Advanced analytical and financial modeling skills with the ability to synthesize large data sets into actionable insights.
• Strong expertise in standard costing, variance analysis, inventory accounting, and cost allocation methodologies.
• Deep understanding of GAAP, manufacturing finance, supply chain economics, and operational performance metrics.
• Proven ability to design and improve financial processes in a matrixed, global environment.

Systems & Tools

• Proficiency in ERP/MRP systems (JD Edwards preferred).
• Advanced Excel skills (modeling, pivot tables, data analysis functions); proficiency in PowerPoint and other Microsoft Office tools.
• Experience leveraging ERP and financial systems data to drive analysis and reporting improvements.

Pay range: $100k - $110k

Within this range, individual pay is determined based on skills, experience, and qualifications relative to the job requirements. Base pay information is aligned with market location and may be subject to prevailing wage laws, if applicable.

What IMI Can Offer You

At IMI, one of our top priorities is to create an inclusive culture of health. We strive to remove barriers to care (whether that be physical or financial) and in doing so, we offer choice for all your health and wellbeing needs. 

See below for a general overview of our amazing perks and benefits:

• Multiple health plans to choose from: HMO, PPO, and High Deductible Health Plans with a low-cost share
• Best-in-class 401K plan with zero vesting and up to 6% contribution matching
• 14-week maternity leave at full pay (Adoption benefits are equivalent)
• 4-week paternity leave at full pay (Adoption benefits are equivalent)
• Employee Resource Groups that offer community and support, like our Pride Network and Network of Women groups 
• PTO, encompassing inclusive holidays 
• Career Development opportunities (IMI’s ‘Catalyst’ Program)
• Employer contribution for Health Savings Account, and in many cases free virtual telemedicine, and teletherapy.
• Mental Health and wellness programs to support you and your family
• Full suite of voluntary benefits to tap into, including but not limited to: Critical illness insurance, hospital indemnity, legal insurance, identity theft protection, and pet insurance or home & auto insurance through our discount advantage platform
• Short & long-term disability as well as basic life insurance at 2x your basic salary at no cost to the employee
• Free financial advisors, webinars, and classes through Charles Schwab
• Annual Employee Stock Purchase Plan with option to purchase IMI shares at a reduced employee only price - no opportunity to lose, only to profit or refund your investment 100%

**Benefits plans change year over year, but we have guiding principles in place to ensure our employees have the tools and resources available to stay connected and up to date**

Health & Safety

The physical demands described within the Key Duties & Responsibilities section of this job description are required to perform the essential functions of this position.  Reasonable accommodations may be made for individuals with disabilities.  Please contact your local HR representative to discuss the specific Work Conditions and Physical Requirements of this role.  

Health, Safety, and Environmental Duties – At IMI we are all personally committed to protecting our people, minimizing our impact to the environment, the communities we operate in and our company. All members of our workforce have the duty to ensure the health, safety and welfare of themselves, others, and the environment. Every employee is expected to follow all HSE operating procedures, also to challenge any observed behaviors or unsafe acts.

Code of Ethics

IMI requires the highest standard of ethics in all business dealings, particularly with customers, suppliers, advisors, employees, and the authorities. In accordance with the IMI Way: Our Code of Responsible Business.

Changes to This Job Description

IMI may amend this job description in whole or part at any time.

By submitting your application, you consent to the processing of your personal data in line with IMI’s policies. For information about how IMI processes candidates’ data, please see the Candidate Privacy Notice at www.imiplc.com/candidate-privacy-notice, available in multiple local languages.

IMI is an equal opportunity employer. Qualified applicants will be considered without regard to age, race, creed, color, national origin, ancestry, marital status, affectional or sexual orientation, gender identity or expression, disability, nationality, sex, or veteran status.