Cost Analyst
3 weeks ago
Key Responsibilities
- Cost Analysis: Analyze and monitor costs across departments to identify inefficiencies and suggest improvements. Provide detailed reports on the costs of products, services, or processes, and highlight any deviations from budgeted expectations.
- Budgeting & Forecasting: Assist in the preparation of annual budgets by analyzing historical financial data and forecasting future costs. Ensure that costs are aligned with the company&aposs budgetary goals.
- Cost Reporting: Prepare and present regular cost reports to management, providing actionable insights on profitability and cost control. Highlight key variances and make recommendations forecast reduction or process improvements.
- Data Collection & Analysis: Collect data on operational and manufacturing costs. Use software tools (such as ERP systems) to track and analyze financial data, ensuring accuracy.
- Cost Allocation: Allocate costs to different business units, projects, or products based on predefined cost structures. Ensure proper allocation of direct and indirect costs in compliance with accounting standards.
- Collaboration: Work closely with departments such as finance, operations, and procurement to ensure cost efficiency and financial accuracy. Provide cost data and insights to help support pricing strategies, negotiations, and financial planning.
- Compliance and Audit: Ensure adherence to financial regulations, accounting principles, and industry best practices. Assist with internal audits and the review of cost-related records.
Qualifications
- Bachelors degree in accounting, Finance, Economics, or related field (a masters or professional certification such as CMA or CPA may be preferred).
- Proven experience 4+ years in cost analysis or a related field.
- Strong ability to analyze financial data and identify trends or discrepancies.
- Proficiency in Microsoft Excel (advanced level), financial modeling, and ERP software (e.g., SAP, Oracle. High attention to detail and accuracy in financial reporting.
- Ability to communicate findings clearly to both financial and non-financial stakeholders.
- Strong problem-solving abilities to identify cost-saving opportunities and improve processes.
- Preferred Qualifications: Experience in the manufacturing or project management sector. Knowledge of cost accounting methods and principles.
- Work Environment: Full-time, office based.
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