Financial Analyst

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What we offer:
At Magna, you can expect an engaging and dynamic environment where you can help to develop industry-leading automotive technologies. We invest in our employees, providing them with the support and resources they need to succeed. As a member of our global team, you can expect exciting, varied responsibilities as well as a wide range of development prospects. Because we believe that your career path should be as unique as you are.
Group Summary:
Transforming mobility. Making automotive technology that is smarter, cleaner, safer and lighter. That's what we're passionate about at Magna Electronics, and we do it by creating world-class Electronic systems. We are a premier supplier for the global automotive industry with full capabilities in design, development, testing and manufacturing of complex Electronic systems. Our name stands for quality, environmental consciousness, and safety. Innovation is what drives us and we drive innovation. Dream big and create the future of mobility at Magna Electronics.
Job Responsibilities:
POSITION SUMMARY:
Analyzes financial plans and projections and provides information to management under minimal direction. Analyzes and interprets actual performance to plan, explains key variances, and makes recommendations for action. Analyzes internal control processes, fixed assets, tooling, and general ledger activity and provides information to Finance Leadership. Accountable for critically analyzing processes and controls, identifying deficiencies, and assisting with remediation efforts.
QUALIFICATIONS:

• Bachelor's degree with a major in accounting or finance required.
• Minimum of 3-5 years' experience as a financial analyst required, in the automotive industry preferred.
• Knowledge of US GAAP.
• Consolidation and reporting experience in One Stream.
• Strong financial and data analysis skills.
• Proficient advanced computer-based application software: manufacturing software/databases (SAP & One Stream a plus),
• Experience in a dynamic and fast-paced manufacturing environment, with the ability to multitask and prioritize responsibilities.
• Proven experience working with cross functional teams to complete daily tasks and projects.
• Effective communication skills to collaborate with team members, supervisors, and other employees.
• Knowledge/experience of Microsoft Office (Word, Excel, PowerPoint, Project)
• Strong problem-solving skills to identify and troubleshoot issues that may arise.

ROLE EXPECTATIONS

• Participate in the overall analysis of the group's financial results for various accounting balances and class of transactions.

• Follow-up with product groups and operating entities on data integrity in the financial reporting system (One Stream).
• Participate in monthly meetings to review, understand, and document major performance variances by operating entity through dialogue.
• Bring visibility to potential exceptions in accounting policies and procedures.
• Generate key financial reports and other key operating metrics on a monthly basis for distribution to executive management.
• Assist in the preparation of the quarterly review materials for executive management.
• Assist with planning and communication to product groups and regional teams for reporting timelines (quarter end, year-end etc.)
• Assist with preparation and review of month-end and quarterly binders to ensure appropriate documentation are maintained for audit review.
• Review of division financial statements to understand major fluctuations.
• Assist in the division budget and forecast preparation through analytics and data integrity (Volume and trend analysis / Sales Projections).
• Assist in the annual review of divisional year-end files to ensure compliance with company policies and accounting practices.
• Assist all members of Magna Electronics Finance with support and queries with financial reporting system (One Stream).
• Support Controller and other members of division leadership as needed with ad hoc projects (Magna information requests, special projects, tax, tooling, fixed assets, internal controls).
• Assist in both External/internal audits and reviews.
• Advise Controller of those situations that may pose a significant risk to the business plan or accounting irregularities that may be of concern to regulatory bodies.
• Initiate actions to prevent the occurrence of any nonconformance relating to product, process & systems.
• Identify and record any problems relating to the product, process, or system.
• Initiate, recommend, or provide solutions through appropriate channels and verify implementation.
• Control further processing and delivery of nonconforming products until the deficiency is corrected.
• Any additional responsibility deemed necessary by management.

Awareness, Unity, Empowerment:
At Magna, we believe that a diverse workforce is critical to our success. That's why we are proud to be an equal opportunity employer. We hire on the basis of experience and qualifications, and in consideration of job requirements, regardless of, in particular, color, ancestry, religion, gender, origin, sexual orientation, age, citizenship, marital status, disability or gender identity. Magna takes the privacy of your personal information seriously. We discourage you from sending applications via email or traditional mail to comply with GDPR requirements and your local Data Privacy Law.
AI-Assisted Screening Disclosure
As part of our commitment to a fair, consistent, and efficient recruitment process, we may use artificial intelligence (AI) tools to assist in the initial screening of applications submitted through our Workday system. These tools help identify qualifications and experience that align with the role requirements. Please note that AI is used solely to support our recruiters. Final decisions are always made by the hiring manager and the hiring team. Importantly, no applicant data is shared externally through these AI tools. All information remains securely within our systems and is handled in accordance with our privacy and data protection policies.
Under conditions defined by applicable law, you may have the right to request an explanation of how AI is used to support decision-making.
If you have any questions or concerns about this process, feel free to contact our Talent Attraction team.
Worker Type:
Regular / Permanent
Group:
Magna Electronics