Cost Accounting Analyst

At Hyosung HICO we're transforming the future of energy from our state-of-the-art manufacturing facility in Memphis, TN. By investing in cutting-edge technology and empowering our diverse and talented team, we ensure that every transformer we produce meets the highest standards of quality and performance.

Hyosung HICO is seeking to fill a Cost Accounting Analyst position. The ideal candidate will be responsible for the execution and oversight of cost accounting activities related to financial reporting, including COGS recognition, variance analysis, and inventory valuation. This role ensures the accuracy, completeness, and compliance of cost-related financial data in accordance with US GAAP, IFRS, and corporate accounting policies, supporting the integrity of financial statements and audit requirements.

OUR BENEFITS - BEST BENEFITS IN THE INDUSTRY!

• Free Medical Insurance Option - A company paid 100% medical insurance option for you and your family, effective on the first day of the month after hire date
• Free Life Insurance - Employer paid basic life insurance - 1X Annual salary plus an additional $20,000 coverage: Optional buy for dependent coverage
• Paid Vacation, Sick Leave, and 12 paid holidays per year
• Bonuses - Monthly Attendance (production and some other hourly roles), Annual, and Quarterly bonus eligibility (Bonuses are not guaranteed and are based on several factors such as company and individual performance)

• Lead COGS closing activities as part of the month-end and year-end financial close, ensuring accurate recognition and classification of cost elements in compliance with US GAAP, IFRS, and corporate accounting policies.
• Analyze and validate standard vs. actual cost variances, including material, labor, and overhead, and provide detailed explanations of key drivers impacting financial results.
• Review and validate inventory valuation and cost of goods sold to ensure completeness, accuracy, and proper financial statement presentation.
• Evaluate and monitor unabsorbed costs, production variances, and cost allocations to ensure appropriate accounting treatment and compliance with financial reporting requirements.
• Maintain and validate standard cost structures, including labor and overhead rates, and support periodic updates of material standard costs aligned with business planning and operational changes.
• Manage and ensure integrity of costing-related master data in ERP systems (SAP), including review of data inputs, changes, and system controls impacting cost calculations.
• Perform analytical review of cost data and financial results to identify trends, anomalies, and potential risks affecting financial reporting.
• Support financial statement preparation and disclosures related to inventory and COGS, including P&L and balance sheet impacts.
• Provide audit support by preparing documentation, responding to inquiries, and ensuring readiness for internal and external audit requirements related to cost accounting and inventory.
• Collaborate with cross-functional teams, including operations and supply chain, to validate cost assumptions, improve data accuracy, and strengthen cost-related processes.
• Identify and recommend process improvements to enhance the accuracy, efficiency, and control of cost accounting and financial reporting processes.
• Develop and deliver cost-related reports and analysis to support management decision-making and strategic planning.
• Perform ad hoc analysis and projects related to cost accounting, financial reporting, and business initiatives.
• Support and make recommendations to improve Company policies and procedures.
• Further the goals and positive, professional image of the Accounting Department by conducting business with auditors, management, and other departments in a timely and cooperative manner.
• Know Hyosung HICO's Quality, Safety and Environmental Policies and understand their impact on work..

• Perform other duties as assigned.

• Bachelor's degree in Accounting, Finance, or relevant field is required. Master's or MBA is a plus.
• Solid understanding of US GAAP & IFRS is required.
• Minimum of 3 years of experience in cost accounting, financial reporting, or manufacturing accounting environment is preferred.
• Strong analytical skills and understanding of COGS, inventory accounting, and variance analysis.
• Advanced Excel skills required; ERP/MRP systems (SAP) experience

• Ability to work under pressure and in a fast-paced environment.
• Ability to meet required deadlines.
• Ability to build trustworthy and cooperative relationships with co-workers, management, internal and external customers and cross-functional teams
• Ability to bend, stoop, climb stairs, and perform any physical requirements related to the role