Staff Accountant

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Job description

Who we are:

We are on a mission to become the leading Western supplier of high value rare earth magnets and critical minerals through a supply chain that supports the future state of energy, mobility, and national security. Our dynamic solution solves key domestic rare earth production challenges through optimizing margins, enhancing efficiency, minimizing costs and mitigating technical challenges.

Our early mover advantage positions us to become the first vertically integrated ex-China rare earth supply chain through substantial interest in the Round Top heavy rare earth, lithium and critical minerals deposit in West Texas, a rare earth separation facility with proven extraction methods, and development of the United States' first rare earth and critical minerals production facility, with scalable production capability. By developing this fully integrated, US-based "mine-to-magnet" critical mineral supply chain, we are poised to become the leading Western supplier.

What you can expect:

At USA Rare Earth, we are pioneers and problem solvers, technologists and team players. Together, we:

Build Solutions : If our task was a simple one, it would already be done. We are creative and solution-oriented, and we think outside the box to solve important problems. We know that a range of expertise and technologies is needed for success, and we work across sectors and alongside customers to deliver world-class solutions in sustainable ways.

Deliver Quality : When we do things, we do them well. We believe that top-tier quality leads to industry competitiveness and we hold ourselves to the highest quality standards. We move fast when executing, while keeping safety, quality and excellence at the forefront in everything we do.

Lead responsibly : We have a responsibility to the planet, our consumers, our country, and each other. We put safety at the center of all we do, take accountability for our actions, incorporate sustainable practices in our processes and act with the financial best interest of our investors and consumers in mind.

Win Together : Establishing a rare earth magnet supply chain is a big undertaking - and getting there is a team effort. We communicate openly, work together and challenge each other in pursuit of our goals. With every step we take we learn and get better.

Position Overview:

The Staff Accountant is responsible for providing accounts payable, inventory controls and general accounting expertise to support high-level accounting expertise to ensure accurate and timely financial reporting, adherence to compliance standards, and effective support for operational and strategic objectives. This role involves preparing and analyzing financial statements, maintaining the general ledger, and ensuring accuracy in all accounting tasks. Additionally, the Staff Accountant supports budgeting and forecasting and aids in internal audits.

Key Responsibilities:

1. Accounts Payable (AP) Responsibilities

• Invoice Processing: Receiving, verifying, and processing invoices for goods and services. Ensuring all invoices align with purchase orders and have the required approvals before payment.

• Vendor Management: Maintaining relationships with vendors, addressing any payment discrepancies, and assisting with inquiries. This may involve negotiating payment terms or reconciling statements.

• Payment Processing: Preparing and scheduling payments (checks, ACH, wire transfers) according to the company's cash flow and terms agreements with vendors.

• Expense Reports: Reviewing employee expense reports for compliance with company policy and ensuring timely reimbursements.

• Reconciliation: Regularly reconciling accounts payable ledger to ensure that all payments are accurately recorded.

2. Inventory Controls

• Inventory Accounting: Recording inventory purchases, ensuring accurate cost allocation, and maintaining an accurate inventory valuation in the financial system.

• Reconciliation of Inventory Accounts: Performing regular reconciliations of inventory accounts to match physical counts with records in the accounting system.

• Cost of Goods Sold (COGS) Analysis: Tracking COGS, helping to identify cost fluctuations, and analyzing inventory turnover ratios.

• Inventory Adjustments: Identifying and processing adjustments related to obsolete or damaged inventory, write-offs, and stock discrepancies.

• Cycle Counts & Audits: Collaborating with operations to conduct periodic cycle counts or full inventory audits to validate inventory records and ensure accuracy in financial reporting.

3. General Accounting Support

• Month-End Close: Assisting in month-end and year-end close processes, including posting journal entries and preparing account reconciliations related to AP and inventory.

• Reporting: Preparing reports related to accounts payable aging, inventory levels, and inventory turnover to provide management with insights into cash flow and stock levels.

• Compliance: Ensuring compliance with internal controls, company policies, and regulatory standards for all AP and inventory-related processes.

• Variance Analysis: Conducting variance analysis on inventory and accounts payable accounts to identify and explain deviations from budgeted or forecasted amounts.

Role Requirements:

• A degree in Accounting, Finance, or a related field.

• Experience in accounts payable, inventory control, and general accounting.

• Strong analytical and problem-solving skills, with proficiency in accounting software (e.g., SAP, QuickBooks, or ERP systems).

• Excellent attention to detail and strong organizational abilities to manage multiple responsibilities effectively.

Work Environment:

The work environment will be in an office setting.

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties, skills required of personnel so classified. The reporting relationship may not reflect the most recent changes to the corporate reporting structure.

USA Rare Earth provides Equal Employment Opportunities

USA Rare Earth's policy is to provide equal employment opportunities to all applicants. A person's race, color, religion, creed, gender, gender identity or expression, age, national origin or ancestry, citizenship, disability, sexual orientation, marital status, pregnancy, veteran status, membership in the uniformed services, genetic information, or any other basis protected by applicable law, has no bearing on whether they are able to do the job. We evaluate the knowledge skills and abilities that meet the requirements and aim to open doors.

USA Rare Earth is an equal opportunity employer and will provide reasonable accommodations according to applicable federal, state, and/or local laws.

For assistance applying for employment through this site due to disability, please contact Human Resources to discuss reasonable accommodations.

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