Senior Cost Accountant

About the role

Cost Accountant employed by DMG MORI Advanced Manufacturing & Innovation Center (DMAMIC), reporting to the VP of Accounting & Finance. Located at 1300 N Branch St, Goose Island, Chicago, IL. Position is exempt with 5%-10% travel; employment contingent on obtaining/maintaining necessary export licensing.

Responsibilities

• Develop and maintain standard cost systems for parts production, including material, labor, overhead, and machine‑time allocations.
• Analyze manufacturing variances and provide clear explanations to operations and finance leadership.
• Support inventory valuation, WIP tracking, and absorption costing in accordance with IFRS.
• Partner with operations and engineering to ensure accurate routings, BOMs, and cost drivers.
• Track and allocate costs for R&D projects, including government‑funded contracts, ensuring proper segregation between allowable and non‑allowable costs.
• Support cost‑plus and commission‑based R&D contract structures (e.g., cost + markup arrangements).
• Maintain documentation to support compliance with applicable government contracting requirements (e.g., audit trails, cost substantiation).
• Assist with preparation of financial reports and support for internal and external audits related to R&D activities.
• Support monthly close activities related to cost accounting, including journal entries, accruals, and reconciliations.
• Prepare cost‑related analyses for management, including budget‑to‑actual and project profitability reviews.
• Assist in establishing and improving internal controls over cost accounting, inventory, and project accounting.
• Contribute to year‑end audit readiness and respond to auditor inquiries.
• Provide limited cost accounting support to affiliated manufacturing entities under intercompany or cost‑allocation agreements (e.g., partial time rebill arrangements).
• Collaborate with corporate accounting, tax, and finance teams on intercompany cost allocations and reporting alignment.

Requirements

• U.S. citizenship.
• Bachelor’s degree in Accounting, Finance, or related field.
• 5+ years of experience in cost accounting within a manufacturing environment.
• Strong understanding of standard costing, variance analysis, and inventory accounting.
• Experience supporting R&D activities or project‑based cost tracking.
• Advanced Excel skills; experience with ERP systems in a manufacturing setting.

Preferred Qualifications

• Experience with government contracts, government‑funded R&D, or regulated cost environments.
• Familiarity with cost‑plus or reimbursable contract structures.
• Prior audit support experience (internal or external).
• CPA, CMA, or progress toward certification.
• Experience with Deltek and CostPoint.

Key Competencies

• High attention to detail and strong analytical skills.
• Ability to translate complex cost data into actionable insights.
• Strong documentation discipline and compliance mindset.
• Effective communicator with finance, operations, and engineering stakeholders.
• Comfortable working in a growing, evolving manufacturing and R&D environment.

Work Environment & Physical Demands

General office environment with periodic exposure to manufacturing environments that may present hazards such as noise, electricity, chemicals, heavy equipment, and other automated and manual machinery.

Physical demands: frequent sitting at desk, utilizing computers and phones; repetitive hand, wrist, arm, and shoulder movements; periodic standing, walking, bending, and stooping; occasional lifting, pushing, and pulling objects.

Schedule

Monday through Friday, 8:30 am to 5:30 pm.