Director - Finance, Product Area

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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:
The Director, Finance - Product Area is responsible for all aspects of the finance functions within the Product Area. The Director, Finance - Product Area position is accountable for collaborating with Product Area leaders to develop and execute strategic plans, providing financial guidance and support for new product pursuits, investments and other strategic projects. This position will play a key role in the leadership of the business while delivering the overall agreed targets and working in close cooperation with the other management team members. The Director, Finance - Product Area will be a business partner to the VP Product Area ensuring accurate reporting in tandem with aiding and supporting the strategic plan related to Magna Electronics growth objectives.
GENERAL

• Provide the VP and senior colleagues with advice, input and counsel of a holistic business nature, operating as a high-quality business partner to the Product Area, initiating value adding decisions and opportunities
• Review of new business quotes ensure metrics meet the Magna minimum financial threshold and investments are aligned with the 7-year business/strategic plan
• Works with Cross-Functional Team [Manufacturing, Engineering, Purchasing, Program Management and Sales] to secure the necessary information for proper estimates
• • Oversee Project Controlling which monitors and manages all financial aspects, including budget adherence, cost control, cost recoveries, and ensuring financial reporting accuracy. Major emphasis working with Engineering on identifying potential financial risks and corrective actions to stay on track
• Prepare and present monthly business updates for the Product Area
• Monitor key financial metrics and provide actionable insights to improve financial performance
• Develops and maintains financial models to support business decisions and strategic initiatives
• Provides financial analysis and insights to support Product Area performance and growth
• In conjunction with the Product Area team, leads a quarterly review of sales roadmap to inform/update key Senior Leadership Team members to what market will bear to support core development investment decisions
• Continuous improvement - Improve ROFE, financial ratios, cash from operations, cost reduction
• Coordinates the annual business plan review and completes product area budgets
• Contribute to the overall leadership, direction setting and strategic development of the business
• Evaluates/advises on long-term impact of plans, programs, investments, divestitures, strategies and regulatory practices. Review of capital projects and quote capital for new programs
• Ensures system of Internal Control, documentation, and reviews are being performed
• Upholds the principles of the Magna Employee's Charter, Magna's Operational Principles, Magna's Environmental Health and Safety Policy & Procedures, Magna Electronics Quality Policy, Program Execution Process and Business Protocols. Must understand and respect the laws and cultures in countries which Magna conducts business & Magna compliances
• Additional duties and responsibilities as assigned

LEADERSHIP RESPONSIBILITY

• Provides mentorship and coaching to team members
• Fosters a culture of continuous improvement and professional development
• Carries out management responsibilities in accordance with Magna's policies and applicable laws
• Responsibilities include interviewing, hiring, training and developing employees; planning, assigning, and directing work; evaluating, rewarding and managing performance; addressing complaints and resolving problems and establishing an effective Succession Plan

FINANCIAL & LEGAL RESPONSIBILITY

• Support Magna's public company reporting requirements
• Support and execute Magna's compliance programs
• Financial and operational knowledge, as well as knowledge of regulations, policies and procedures that affect the company
• Must understand and respect the laws and cultures in countries which Magna conducts business & Magna compliances

HEALTH, SAFETY AND ENVIRONMENTAL RESPONSIBILITY

• Ensure all safety and non-safety rules and regulations are followed
• Ensure adherence to established quality and housekeeping standards
• Review and adhere to Magna Electronics' health and safety, environmental, and quality standards, operating procedures, and policies
• Respond immediately to items brought to their attention with respect to hazards, defects or non-compliance issues
• Understand and uphold the policies that prohibit workplace violence and harassment
• In addition to the above, the duties include those specified under the Occupational Health & Safety Act

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.
Worker Type:
Regular / Permanent
Group:
Magna Electronics