Job ID: req4931
Job Category: Corporate
Location: Hamel, MN, US
Job Title: Senior Cost Accountant
FLSA Status: Exempt
Department: Accounting
Reports to: Manager, Cost Accounting
Flex Work Eligible: This position qualifies for the Flexible Work Policy. Employees receive 75 workdays annually to work remotely. The initial number of days is prorated for the first year based on start date.
GENERAL DESCRIPTION / PURPOSE:
Responsible for organizing, analyzing, reconciling and reporting Loram’s global cost data supporting Loram’s financial accounting, managerial accounting and corporate governance functions globally. Responsible for fixed asset and construction in progress accounting for all Loram global entities.
ESSENTIAL JOB FUNCTIONS:
Financial Accounting
- Responsible for monitoring and maintaining the standard cost system within the ERP for Loram’s global entities.
- Prepare month-end general ledger entries including inventory, PP&E construction in progress, accrued liabilities and cost of goods sold.
- Responsible for preparing and reviewing balance sheet account reconciliations for inventory, PP&E construction in progress and accrued liabilities.
- Provide supervision for Cost Accounting’s monthly financial close process.
- Supervise the annual standard cost roll process including financial analysis and impact reporting.
- Calculate and analyze direct labor and overhead rates as part of the annual cost roll process.
Corporate Governance
- Responsible for maintaining and reporting compliance with corporate accounting global policies and procedures.
- Responsible for managing and enhancing global internal controls related to inventory, supply chain, manufacturing and project management with a focus on preventative controls and exception reporting.
- Analyze and report performance of the global inventory cycle counting program.
- Review project budget approvals for adherence to corporate policies.
- Work directly with external auditors on interim and year-end audit requests related to inventory, project costs and cost of sales.
Managerial Accounting
- Responsible for developing and supporting strong partnerships with global Manufacturing, Supply Chain and Project Management functions to promote a collaborative understanding of Loram’s financial information.
- Provide corporate Cost Accounting support and guidance to Loram’s global entities.
- Develop, optimize and maintain best-in-class costing information and processes within the ERP system with a focus on supporting insightful and actionable internal reporting.
- Analyze and report manufacturing and project variances including project post-mortem analysis.
- Provide supervision and mentorship to Cost Accountant.
REQUIRED QUALIFICATIONS:
Education: Bachelors Degree in Accounting/Finance
Experience: 4+ years of progressive Cost Accounting experience in a manufacturing environment. Working knowledge of Managerial Accounting concepts and US GAAP accounting guidelines.
PREFERRED QUALIFICATIONS
Education: Advanced Degree in Accounting/Finance, CMA or CPA
KNOWLEDGE, SKILLS AND ABILITIES:
- US GAAP technical accounting skills; proficient with interpreting and applying US GAAP accounting guidelines.
- Advanced knowledge of best practice accounting controls.
- Proficient in reconciling and supporting account balances
- Proficient in variance recognition and analysis.
- Experience with improving and automating accounting processes.
- Microsoft Excel – Advanced Proficiency.
- ERP systems – Experience working in an ERP in a manufacturing environment.
- General system skills (Workday Adaptive, BI).
- Adaptable and accustomed to working in fast-paced environments.
WORKING CONDITIONS:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the role. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Travel up to 20%
- Office deskwork, requiring sitting, walking, using phone & computer
- May lift up to 30 lbs. occasionally
- Can tolerate variable and sometimes challenging conditions during visits or inspections of company equipment in a railroad environment.
Benefits for this role include a comprehensive package with company-sponsored medical, dental, and vision insurance; Health Savings Account (HSA) and Flexible Spending Account (FSA) options; wellness programs; basic life and AD&D insurance; voluntary life insurance; company paid short-term and long-term disability coverage; 401(k) retirement plan including an employer match of 150% up to the first 6% you contribute to the Plan; Employee Assistance Program (EAP); behavioral health support; and leaves of absence. Additional benefits include tuition reimbursement, payroll charity contributions, adoption assistance and optional plans such as legal, critical illness, and hospitalization.
Loram determines compensation based on factors such as skills, competencies, education, and/or experience. Certain positions may be eligible for an annual bonus and paid time off in addition to base compensation.
Starting pay for the position is between $78,444.16 – $98,055.20
Loram is an Equal Opportunity Employer and will make all employment-related decisions without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, marital status, familial status, status with regard to public assistance, membership or activity in a local commission, protected veteran status, or any other status protected by applicable law
Revised July 2025
Job ID: req4931
Job Category: Corporate
Location: Hamel, MN, US
DESCRIPTION
Job Title: Senior Cost Accountant
FLSA Status: Exempt
Department: Accounting
Reports to: Manager, Cost Accounting
Flex Work Eligible: This position qualifies for the Flexible Work Policy. Employees receive 75 workdays annually to work remotely. The initial number of days is prorated for the first year based on start date.
GENERAL DESCRIPTION / PURPOSE:
Responsible for organizing, analyzing, reconciling and reporting Loram’s global cost data supporting Loram’s financial accounting, managerial accounting and corporate governance functions globally. Responsible for fixed asset and construction in progress accounting for all Loram global entities.
ESSENTIAL JOB FUNCTIONS:
Financial Accounting
- Responsible for monitoring and maintaining the standard cost system within the ERP for Loram’s global entities.
- Prepare month-end general ledger entries including inventory, PP&E construction in progress, accrued liabilities and cost of goods sold.
- Responsible for preparing and reviewing balance sheet account reconciliations for inventory, PP&E construction in progress and accrued liabilities.
- Provide supervision for Cost Accounting’s monthly financial close process.
- Supervise the annual standard cost roll process including financial analysis and impact reporting.
- Calculate and analyze direct labor and overhead rates as part of the annual cost roll process.
Corporate Governance
- Responsible for maintaining and reporting compliance with corporate accounting global policies and procedures.
- Responsible for managing and enhancing global internal controls related to inventory, supply chain, manufacturing and project management with a focus on preventative controls and exception reporting.
- Analyze and report performance of the global inventory cycle counting program.
- Review project budget approvals for adherence to corporate policies.
- Work directly with external auditors on interim and year-end audit requests related to inventory, project costs and cost of sales.
Managerial Accounting
- Responsible for developing and supporting strong partnerships with global Manufacturing, Supply Chain and Project Management functions to promote a collaborative understanding of Loram’s financial information.
- Provide corporate Cost Accounting support and guidance to Loram’s global entities.
- Develop, optimize and maintain best-in-class costing information and processes within the ERP system with a focus on supporting insightful and actionable internal reporting.
- Analyze and report manufacturing and project variances including project post-mortem analysis.
- Provide supervision and mentorship to Cost Accountant.
QUALIFICATIONS
REQUIRED QUALIFICATIONS:
Education: Bachelors Degree in Accounting/Finance
Experience: 4+ years of progressive Cost Accounting experience in a manufacturing environment. Working knowledge of Managerial Accounting concepts and US GAAP accounting guidelines.
PREFERRED QUALIFICATIONS
Education: Advanced Degree in Accounting/Finance, CMA or CPA
KNOWLEDGE, SKILLS AND ABILITIES:
- US GAAP technical accounting skills; proficient with interpreting and applying US GAAP accounting guidelines.
- Advanced knowledge of best practice accounting controls.
- Proficient in reconciling and supporting account balances
- Proficient in variance recognition and analysis.
- Experience with improving and automating accounting processes.
- Microsoft Excel – Advanced Proficiency.
- ERP systems – Experience working in an ERP in a manufacturing environment.
- General system skills (Workday Adaptive, BI).
- Adaptable and accustomed to working in fast-paced environments.
WORKING CONDITIONS:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the role. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Travel up to 20%
- Office deskwork, requiring sitting, walking, using phone & computer
- May lift up to 30 lbs. occasionally
- Can tolerate variable and sometimes challenging conditions during visits or inspections of company equipment in a railroad environment.
Benefits for this role include a comprehensive package with company-sponsored medical, dental, and vision insurance; Health Savings Account (HSA) and Flexible Spending Account (FSA) options; wellness programs; basic life and AD&D insurance; voluntary life insurance; company paid short-term and long-term disability coverage; 401(k) retirement plan including an employer match of 150% up to the first 6% you contribute to the Plan; Employee Assistance Program (EAP); behavioral health support; and leaves of absence. Additional benefits include tuition reimbursement, payroll charity contributions, adoption assistance and optional plans such as legal, critical illness, and hospitalization.
Loram determines compensation based on factors such as skills, competencies, education, and/or experience. Certain positions may be eligible for an annual bonus and paid time off in addition to base compensation.
Starting pay for the position is between $78,444.16 – $98,055.20
Loram is an Equal Opportunity Employer and will make all employment-related decisions without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, marital status, familial status, status with regard to public assistance, membership or activity in a local commission, protected veteran status, or any other status protected by applicable law
Revised July 2025
ABOUT
Loram Maintenance of Way, Inc. is a global leader in track maintenance technology, services, and solutions for the railway industry. For over 70 years, Loram has delivered industry-leading innovation through cutting-edge rail grinding, ballast maintenance, and inspection systems — ensuring safer, more reliable, and cost-effective rail operations for customers worldwide.
Headquartered in Hamel, Minnesota, Loram operates in multiple locations across North America and supports Class I, regional, and commuter railroads with a full suite of services. Loram is known for its strong engineering culture, commitment to safety, and dedication to improving the performance of rail infrastructure through advanced technology and field-proven expertise.
Join a company that moves the world — and builds the future of rail.
Job Title: Senior Cost Accountant
FLSA Status: Exempt
Department: Accounting
Reports to: Manager, Cost Accounting
Flex Work Eligible: This position qualifies for the Flexible Work Policy. Employees receive 75 workdays annually to work remotely. The initial number of days is prorated for the first year based on start date.
GENERAL DESCRIPTION / PURPOSE:
Responsible for organizing, analyzing, reconciling and reporting Loram’s global cost data supporting Loram’s financial accounting, managerial accounting and corporate governance functions globally. Responsible for fixed asset and construction in progress accounting for all Loram global entities.
ESSENTIAL JOB FUNCTIONS:
Financial Accounting
- Responsible for monitoring and maintaining the standard cost system within the ERP for Loram’s global entities.
- Prepare month-end general ledger entries including inventory, PP&E construction in progress, accrued liabilities and cost of goods sold.
- Responsible for preparing and reviewing balance sheet account reconciliations for inventory, PP&E construction in progress and accrued liabilities.
- Provide supervision for Cost Accounting’s monthly financial close process.
- Supervise the annual standard cost roll process including financial analysis and impact reporting.
- Calculate and analyze direct labor and overhead rates as part of the annual cost roll process.
Corporate Governance
- Responsible for maintaining and reporting compliance with corporate accounting global policies and procedures.
- Responsible for managing and enhancing global internal controls related to inventory, supply chain, manufacturing and project management with a focus on preventative controls and exception reporting.
- Analyze and report performance of the global inventory cycle counting program.
- Review project budget approvals for adherence to corporate policies.
- Work directly with external auditors on interim and year-end audit requests related to inventory, project costs and cost of sales.
Managerial Accounting
- Responsible for developing and supporting strong partnerships with global Manufacturing, Supply Chain and Project Management functions to promote a collaborative understanding of Loram’s financial information.
- Provide corporate Cost Accounting support and guidance to Loram’s global entities.
- Develop, optimize and maintain best-in-class costing information and processes within the ERP system with a focus on supporting insightful and actionable internal reporting.
- Analyze and report manufacturing and project variances including project post-mortem analysis.
- Provide supervision and mentorship to Cost Accountant.
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Loram is an Equal Opportunity Employer and will make all employment-related decisions without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, marital status, familial status, status with regard to public assistance, membership or activity in a local commission, protected veteran status, or any other status protected by applicable law.
Loram is committed to protecting the identity and personal information of any potential employee. Loram applicants will only be contacted by Loram employees with an authentic Loram email address ending in @loram.com. We encourage you to verify the identity of any individual who claims to be a member of the Loram team by confirming the email address is @loram.com with no additional characters or letters. We will never request financial information or a financial commitment as part of the recruitment process. If you have a question about the authenticity of any communication claiming to be from Loram, please contact loramrecruiting@loram.com. Reports can be submitted online at www.loram.ethicspoint.com or by calling 1-844-635-4640.
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