Position: Cash Accountant
Reports Directly: Lori Laye
Location: Milwaukee, WI
Date: November 12, 2021
Regal Rexnord Corporation (RRX) is approximately a $5B publicly traded global manufacturer of electric motors and controls, electrical components and power transmission products serving customers around the world in the general industrial, consumer, commercial construction, food & beverage, and alternative energy end markets, among others. Regal Rexnord sells its products and solutions to OEMs, through distributors, and directly to end-users. The company has approximately 29,000 global associates with significant operations in the US, Mexico, Europe, China, and India. Regal Rexnord Corporation is the result of a merger between Regal Beloit Corporation and Rexnord’s PMC business which was completed in 2021. The headquarters for Regal Rexnord is located in Beloit, WI with an executive satellite office in Rosemont, IL.
You may not know it, but Regal Rexnord impacts your life every day. Our products enable the fans in HVAC systems that keep us comfortable; the power source that keeps smart buildings running; the agricultural and food service equipment that keeps us fed; and the conveyer systems that keep e-commerce flowing.
Our business purpose is to create a better tomorrow by energy-efficiently converting power into motion. For us, this means creating innovative solutions while focused on both customer needs and our commitment to sustainability. Join our team to create your better tomorrow.
The company is comprised of four operating segments:
- · Climate Solutions: (~$1.0 Billion revenues) Includes fractional HP motors, variable speed controls, and air moving solutions which are sold in the residential heating & ventilating, water heating, commercial refrigeration, and other OEM and aftermarkets. Segment headquarters is based in Fort Wayne, IN.
- · Commercial Systems: (~$1.0 Billion revenues) Includes medium motors from fractional to 5HP, fans and blowers and Hermetic stator and rotor sets which are sold to commercial heating and ventilating, commercial kitchen and laundry markets. Segment headquarters is based in Grafton, WI.
· Industrial Systems: (~$600 Million revenues) Includes large motors, alternators, automatic transfer switches and switchgears which are sold to agricultural, marine, oil and gas, data centers, power generation and general industry equipment markets. Segment headquarters is based in Wausau, WI.
· Motion Control Solutions: (~2.2 Billion revenues) Constitutes products like gearing, bearings, couplings, and conveying components which are sold in a wide variety of markets including mater handling, oil & gas, beverage, and other industrial markets. Segment headquarters is based in Milwaukee, WI.
Our business is organized into four decentralized segments with strong brand equity in its respective markets as outlined below:
Scope of leadership role
The Cash Accountant is responsible for cash reconciliation, accounts payable, and accounts receivable workflow within the corporate accounting area. The position will be responsible for daily, monthly and quarterly activities to ensure that company books and records are accurate by determining the proper accounting for cash transactions.
- · Monitors and reconciles daily cash activity posted by the Treasury Management System verifying GL coding for all transactions, foreign currency transactions, and miscellaneous deposits.
- · Prepare monthly bank account reconciliations, other related balance sheet reconciliations and all associated journal entries as part of month-end ledger close.
- · Monitors and reconciles the Intercompany cash accounts ensuring proper balancing between entities.
- · Responds to business unit questions regarding accounting policies or implications and provides guidance and support to Regal finance teams.
- · Provides data as requested to internal and external auditors for the corporate accounting group.
- · Works with corporate accounting team to streamline and improve current accounting processes to facilitate the month end close and reconciliation processes.
- · Performs tasks in accordance with Generally Accepted Accounting Principles (GAAP).
- · B.S. in Accounting, Finance or related field.
- · CPA candidate or MBA preferred
- · 2+ years of increasingly responsible accounting experience
- · Public Accounting experience and/or Manufacturing experience desired
- · Strong knowledge of GAAP
- · Excellent verbal and written skills
- · Blackline and Hyperion experience desired
- · Oracle experience, and/or Systems implementation experience a plus