Senior Analyst, Corporate Accounting

Since its founding more than 100 years ago, ITW has become one of the world’s leading diversified manufacturers of specialized industrial equipment, consumables, and related service businesses. We place a high premium on developing innovative solutions—most of which are developed in tandem with our customers, and we continue to ensure that our customers receive timely, cost-effective service for our innovative products.

ITW’s business model comprises unique core capabilities: our proprietary 80/20 business process, customer‑back innovation, and a well‑known decentralized entrepreneurial culture. Our products and solutions are used worldwide, from deep‑sea oil rigs to aerospace technology, bridges and wind turbines, healthcare, cars, and mobile devices.

ITW (NYSE: ITW) is a Fortune 300 global multi‑industry manufacturing leader with revenue of $15.9 billion in 2024 and employs ~44,000 people operating in 51 countries. Headquarters are in Glenview, IL, and the workplace offers a fitness center, café, outdoor volleyball courts, walking trails, employee resource groups, corporate discounts, dry‑cleaning services, covered/outdoor parking, and more. Our offices are a 20‑minute train ride from Downtown Chicago.

ITW is seeking a high‑performing, detail‑oriented Senior Analyst, Corporate Accounting
, to join our Corporate Accounting organization. This role plays a critical part in ensuring the accurate accounting, reporting, and compliance for ITW’s U.S. managed employee health and welfare benefit plans, including medical, prescription drug, dental, vision, life, disability, HSA, and flexible spending arrangements.

This position offers hands‑on ownership of complex accounting processes, significant interaction with internal business partners and external service providers, and exposure to SEC reporting and benefit plan audits. The Senior Analyst reports to the Senior Manager, Corporate Accounting, and collaborates closely with Human Resources, External Reporting, Tax, Treasury, and auditors.

• Own the monthly, quarterly, and annual accounting and close processes for U.S. employee health and welfare benefit plans, ensuring compliance with U.S. GAAP.
• Prepare, review, and post journal entries; perform account reconciliations; analyze variances; investigate and resolve reconciling items.
• Ensure accurate recognition of benefit costs, liabilities, reserves, and settlements, including claims incurred but not reported (IBNR).

• Support the annual budgeting and periodic forecasting processes for assigned benefit programs.
• Analyze actual results versus budget and forecast, identify key drivers, and provide clear explanations to management.
• Develop and maintain supporting models and analytical schedules related to benefit plan costs and obligations.

• Work with third‑party administrators, insurers, and other vendors to interpret data from multiple systems and formats and translate it into accurate accounting and reporting.
• Partner with plan actuaries to ensure appropriate measurement and recording of retiree health and welfare benefit obligations.
• Collaborate with Human Resources to understand plan design changes, new programs, and emerging trends and assess accounting implications.

• Assist in the preparation and review of quarterly and annual financial reporting deliverables, including disclosures for Forms 10‑Q and 10‑K related to employee benefits.
• Support the preparation of benefit plan financial statements and related schedules used in Forms 5500 and 990 filings.
• Serve as a key point of contact for external auditors, internal audit, and benefit plan auditors; coordinate audit requests and ensure timely, accurate responses.

• Identify opportunities to streamline accounting processes, improve controls, enhance documentation, and leverage system capabilities.
• Assist with the design, implementation, and monitoring of internal controls related to benefit plan accounting.
• Contribute to special projects, systems enhancements, and ad hoc…