Finance Manager

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What we offer:

Group Summary:

Job Responsibilities:

Mission of the Position:

The mission of this position is to provide strategic financial leadership, governance, and analytical support for the Global Purchasing organization. This role is responsible for driving financial planning, forecasting, budgeting, reporting, automation, and process standardization related to purchasing spend, cost savings, and operational performance.

The position serves as the global owner of purchasing financial processes and reporting, ensuring accurate, timely, and standardized measurement of spend, cost savings, allocations, claims, and key performance indicators across all Magna Powertrain facilities. Through data analytics, continuous improvement, and collaboration with IT, the role develops and implements digital solutions that enhance efficiency, transparency, and decision-making.

Additionally, this position leads supplier risk management and sustainability governance team and activities by overseeing supplier financial assessments, risk monitoring, mitigation planning, approval processes, and reporting. The role supports the development of a resilient and sustainable supply base by integrating risk management, ESG objectives, and corporate compliance requirements into purchasing strategies and business processes.

This position plays a critical role in aligning purchasing activities with Magna's corporate standards, strategic goals, ethical principles, sustainability commitments, and long-term business objectives.

Key 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.

Customers and Business Interfaces:

• Plant Controllers

• Global Commodity Directors

• Purchasing Managers

• Buyers

• Global Commodity Managers

• Magna International Finance, supplier risk, processes and systems contacts

• ESG contacts

Requirements and Qualifications:

• Bachelor’s degree in finance or related field required; Masters’ Degree is a plus

• Minimum of 5 years’ experience in the auto industry; experience in powertrain preferred

• 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

Magna Standards:

• 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.

• Health & Safety responsibilities:

  •  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.

• The above is intended to describe the general content of and the requirements for the performance of this position. It is not to be construed as an exhaustive statement of duties, responsibilities, or requirements.

This job description reflects the core elements of a position. There may be additional requirements based on local laws and regulations which could be attached as an addendum.

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.

AI-Assisted Screening Disclosure

As part of our commitment to a fair, consistent, and efficient recruitment process, we may use artificial intelligence (AI) tools to assist in the initial screening of applications submitted through our Workday system. These tools help identify qualifications and experience that align with the role requirements. Please note that AI is used solely to support our recruiters. Final decisions are always made by the hiring manager and the hiring team. Importantly, no applicant data is shared externally through these AI tools. All information remains securely within our systems and is handled in accordance with our privacy and data protection policies.

Under conditions defined by applicable law, you may have the right to request an explanation of how AI is used to support decision-making.

If you have any questions or concerns about this process, feel free to contact our Talent Attraction team.

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