Global Process Lead – Product Costing and Inventory Valuation (PCIV)

Thank you for your interest in working for our Company. Recruiting the right talent is crucial to our goals. On April 1, 2024, 3M Healthcare underwent a corporate spin-off leading to the creation of a new company named Solventum. We are still in the process of updating our Careers Page and applicant documents, which currently have 3M branding. Please bear with us. In the interim, our Privacy Policy here: https://www.solventum.com/en-us/home/legal/website-privacy-statement/applicant-privacy/ continues to apply to any personal information you submit, and the 3M-branded positions listed on our Careers Page are for Solventum positions. As it was with 3M, at Solventum all qualified applicants will receive consideration for employment without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Job Description:

Global Process Lead Assets and Project Accounting(Solventum)

3M Health Care is now Solventum

At Solventum, we enable better, smarter, safer healthcare to improve lives. As a new company with a long legacy of creating breakthrough solutions for our customers’ toughest challenges, we pioneer game-changing innovations at the intersection of health, material and data science that change patients' lives for the better while enabling healthcare professionals to perform at their best. Because people, and their wellbeing, are at the heart of every scientific advancement we pursue.

We partner closely with the brightest minds in healthcare to ensure that every solution we create melds the latest technology with compassion and empathy. Because at Solventum, we never stop solving for you.

The Impact You’ll Make in this Role

Global Process Lead – Product Costing and Inventory Valuation (PCIV) will oversee all aspects of Solventum’s product cost accounting function. This includes developing and maintaining standard costs, analyzing manufacturing variances, and managing inventory valuation to ensure accurate financial reporting. The role will also focus on strengthening partnerships with cross-functional teams to optimize cost analysis, drive process improvements, and enhance accounting practices.

Key Responsibilities:

Process Ownership & Financial Oversight

• Establish, maintain, and enforce standardized procedures for cost and inventory calculations, including ownership of the annual re-costing process.
• Provide oversight for the implementation and maintenance of cost accounting and inventory management systems.
• Monitor cost trends to identify opportunities for optimization and efficiency improvements.
• Serve as a process expert for shared service migrations, supporting month-end close activities.
• Lead the month-end close process for PCIV by working cross-functionally to analyze variance impacts and ensure accurate and timely financial reporting.

Leadership & Cross-Functional Collaboration

• Partner with finance, supply chain, and operations teams to align accounting processes with business objectives.
• Participate in cross-functional initiatives to ensure financial impacts and accounting requirements are properly addressed.
• Act as a subject matter expert in cost accounting and inventory valuation, providing guidance and insights to internal stakeholders.

Continuous Improvement & Strategic Optimization

• Identify opportunities for process enhancement, automation, and cost optimization.
• Implement best practices to drive efficiency and effectiveness in cost accounting and inventory valuation.
• Proactively recommend and lead process improvement initiatives.
• Review and enhance Standard Operating Procedures (SOPs) for tasks performed by the Shared Service Center to drive continuous improvement, ensure operational efficiency, and facilitate a smooth transition of work during employee attrition and turnover.

Compliance & Reporting

• Ensure adherence to accounting standards (US GAAP), internal controls, and audit requirements.
• Support financial reporting requirements by ensuring the accuracy of existing reports and leading the development of new reporting solutions.

Governance & Performance Metrics

• Establish key performance indicators (KPIs) to assess the effectiveness of cost accounting and inventory valuation processes.
• Monitor and analyze performance data to drive informed decision-making and continuous improvements.

Change Management & Training

• Act as a change champion, driving the adoption of new processes and technologies.
• Update job aids, training materials, and provide support to end-users to ensure smooth transitions and compliance with new practices.

Qualifications 

To set you up for success in this role from day one, Solventum requires (at a minimum) the following qualifications:

Bachelor's degree or higher from an accredited institution, preferably in Finance or Accounting and (7) seven years' experience in private, public, government or military environment

OR

High School Diploma/GED from AND (11) eleven years' in a private, public, government or military environment

AND

Experience with SAP- S4/Hana

In-depth knowledge of US GAAP

Additional qualifications that could help you succeed even further in this role include:

• Master’s degree in finance, accounting, and/or CPA
• Audit experience
• Experience with systems implementation
• Strong project management experience with the ability to lead cross-functional teams in a global environment
• Ability to act as a change agent
• Sound analytical and problem-solving skills
• Excellent communication and stakeholder management skills.

Work location: Remote-United States

Travel: May include up to 15% [domestic/international]

Relocation Assistance: not authorized

Must be legally authorized to work in the country of employment without sponsorship for employment visa status (e.g., H1B status).

Supporting Your Well-being 

Solventum offers many programs to help you live your best life – both physically and financially. To ensure competitive pay and benefits, Solventum regularly benchmarks with other companies that are comparable in size and scope. 

Applicable to US Applicants Only:The expected compensation range for this position is $160,284 - $195,903, which includes base pay plus variable incentive pay, if eligible. This range represents a good faith estimate for this position. The specific compensation offered to a candidate may vary based on factors including, but not limited to, the candidate’s relevant knowledge, training, skills, work location, and/or experience. In addition, this position may be eligible for a range of benefits (e.g., Medical, Dental & Vision, Health Savings Accounts, Health Care & Dependent Care Flexible Spending Accounts, Disability Benefits, Life Insurance, Voluntary Benefits, Paid Absences and Retirement Benefits, etc.). Additional information is available at: https://www.solventum.com/en-us/home/our-company/careers/#Total-Rewards

Responsibilities of this position include that corporate policies, procedures and security standards are complied with while performing assigned duties.

Solventum is committed to maintaining the highest standards of integrity and professionalism in our recruitment process.  Applicants must remain alert to fraudulent job postings and recruitment schemes that falsely claim to represent Solventum and seek to exploit job seekers.

Please note that all email communications from Solventum regarding job opportunities with the company will be from an email with a domain of @solventum.com. Be wary of unsolicited emails or messages regarding Solventum job opportunities from emails with other email domains.

Please note, Solventum does not expect candidates in this position to perform work in the unincorporated areas of Los Angeles County.

Solventum is an equal opportunity employer.  Solventum  will not discriminate against any applicant for employment on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or veteran status.

Please note: your application may not be considered if you do not provide your education and work history, either by: 1) uploading a resume, or 2) entering the information into the application fields directly.

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