Note: The job is a remote job and is open to candidates in USA. Magna Powertrain develops automotive powertrain systems and technologies for the global automotive industry. The Finance Manager provides strategic financial leadership for Global Purchasing, overseeing budgeting, forecasting, reporting, cost savings, spend management, process automation, and supplier risk management. The role also leads sustainability and ESG governance activities while ensuring financial controls, compliance, and standardized reporting across Magna Powertrain facilities.
Responsibilities
- Lead the teams for cost savings and supplier risk management
- Lead global purchasing budgeting, forecasting, and financial planning processes
- Consolidate and report Magna Powertrain monthly purchasing cost savings and spend results to Magna International
- Monitor actual financial performance against budget and forecast, identifying risks and opportunities
- Lead preparation of the Global Purchasing expense budget
- Calculate and manage annual global purchasing allocations
- Report inflation-related claims and financial impacts within forecast and budget processes
- Ensure accurate and timely monthly, quarterly, and annual reporting
- Own the global purchasing cost savings and spend management processes
- Standardize cost savings methodologies, tracking tools, and reporting templates across all plants
- Provide financial analysis and performance reporting for cost savings initiatives
- Conduct monthly reviews with plants to ensure completeness, accuracy, and consistency of reported data
- Drive process improvements and reporting automation within the Purchasing Finance function
- Partner with IT to identify, implement, and optimize digital tools and analytics solutions. Ex; cost savings & spend automation
- Improve data quality, reporting efficiency, and visibility through standardized processes and automation
- Lead the supplier risk management process, including financial analysis, risk assessments, governance approvals, mitigation activities, supplier audits and executive reporting
- Develop reporting and performance metrics that enhance supply base resilience and support proactive risk management
- Support sustainability and ESG initiatives by establishing metrics, monitoring performance, and ensuring alignment with corporate sustainability objectives
- Collaborate with Purchasing, Supply Chain, Operations, and Corporate functions to integrate sustainability and risk considerations into sourcing decisions and supplier management processes
- Follow Magna's Code of Conduct and Ethics and related compliance policies
- Ensure adherence to corporate financial controls, reporting standards, and governance requirements
- Perform ad hoc financial analyses, special projects, and other responsibilities as assigned
- Practice and maintain integrity while following Magna’s Charter and Constitution
- Follow Magna’s Code of Conduct and Ethics and related compliance policies
- Supports and adheres to policies, procedures, and operational guidelines related to established quality management system (IATF 16949)
- Drive the development of new technologies to improve quality, efficiency and reduce cost
- Comply with safety policies and procedures to ensure duties of self are performed in a safe manner
- Understand applicable Environmental, Health & Safety policies and procedures in the workplace
- Report unsafe conditions immediately
- Report injuries, accidents, illnesses, near misses, property damage immediately
- Follow safety rules
- Comply with requirements for the use or operation of machines or equipment
- Comply with Personal Protective Equipment (PPE) requirements
- Create a positive work environment by demonstrating and sharing functional/technical knowledge
- Develop and maintain a responsive and cooperative working relationship with internal and external customers
- Treat everyone with dignity, trust and respect
- Complete additional duties and responsibilities as assigned
Skills
- Bachelor's degree in finance or related field required
- Minimum of 5 years' experience in the auto industry
- Experience in purchasing (cost savings, spend, risk management)
- Analytical skills are required
- Strong skills in Excel, SAP and Power BI
- Understanding of data management (database management systems & connections)
- Excellent written & verbal communication
- Experience leading people
- Teamwork skills
- Masters' Degree is a plus
- Experience in powertrain preferred
Benefits
- Employee support and resources to succeed
- A wide range of development prospects
Company Overview