Financial Product Specialist

3 days ago

kanpur, India beBeeCost Full time

Job DescriptionAs a key member of our organization, you will play a vital role in ensuring the accuracy and efficiency of our product costing activities.Transition existing business unit-level costing functions to our centralized finance operations team.Responsible for performing product costing activities within our Enterprise Resource Planning (ERP) system, specifically SAP, for markets with centralized costing activities.Key Responsibilities:Establish and maintain processes for analyzing variances (price and factory) and provide actionable insights to reduce discrepancies from established standards.Provide support and guidance on inventory valuation, including calculation of capitalized variances and stock provisions.Liaise with technology teams to resolve issues related to processes or reports.Perform ad hoc analysis as required, including in-depth investigations to identify underlying issues.Validate dashboards and reports related to inventory, procurement, and factory performance.Support group projects that require centralized costing expertise.Principal Accountabilities and Key Activities:Serve as the primary point of contact for SAP product costing activities.Independently manage entire product costing activities on SAP.Regularly review pending materials for cost release and coordinate updates with markets.Ensure timely and accurate release of standard costs by following established group methodologies for standard cost calculation.Conduct thorough reviews to guarantee the accuracy of standard costs.Review and validate master data components affecting product costing, such as Bill of Materials, Routings, Costing Lot Size, and Procurement Keys.Operational Analysis:Analyze procurement transactions to identify the root cause of price variances.Review exceptions and abnormal variances, and collaborate with markets to implement corrective actions.Consolidate and analyze factory variance data.Develop reports providing insights into price and factory variances.Month Close Activities:Review gross stocks and prepare reports detailing their value according to group accounting policies.Calculate and reconcile variances based on established group methodologies.Ensure adherence to standard methodologies for calculating provisions and contribute to process improvements when necessary.Ad Hoc Business Support:Conduct in-depth investigations into transactions and processes to identify potential issues and provide solutions.Validate dashboards and reports.Offer guidance to markets regarding standard processes and methodologies related to costing and inventory valuation.

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