Cost Analyst Specialist

About the roleThe company we work with is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data and the environment.Trusted by the world's leading companies to deliver crucial, innovative, and sustainable solutions, we provide value-adding products including apparel, footwear and specialty threads.With a proud heritage dating back more than 250 years and a spirit of evolution to constantly stay ahead of changing market needs, we have operations across 50 countries with a workforce of over 17,000, serving our customers worldwide.Following the acquisition of Texon and Rhenoflex, new components now have a complete range of footwear components to meet your needs, from heel counters to toe puffs and everything in-between. Through our technologically diverse product portfolio, we can cater to both current and future trends, setting new standards in the process, turning customer ideas into a reality and accelerating sustainability.Headquartered in the UK, we connect talent, textiles, and technology to make a better and more sustainable world.For more information, visit our website: www.coats.comJob Responsibilities:Transition of business unit level costing activities to finance Centre of ExcellenceResponsible for product costing activities performed within the Enterprise Resource Planning system (SAP) for the markets that have costing activities centralizedEstablish a process for analysis of variances (Price & Factory) and provide business insights including actionable items to reduce variances compared to established standardsProvide support and guidance for inventory valuation. This covers activities including calculation of capitalized variances and stock provisionsLiaise with technology teams to resolve issues in processes or reportsPerform ad hoc analysis as may be required including deep dives to identify issuesValidate dashboards and reports relating to inventory, procurement and factory performanceSupport any group project that may require centralised costing supportKey Accountabilities and Activities:Single point contact for SAP product costingIndependently handle entire product costing activities on SAP.Regular review of materials that are pending for cost release and liaise with markets for timely update of standard costs.End to end support for the release of standard costs following established group methodology for standard cost calculationConduct reviews to ensure the accuracy of the standard costsReview and validate master data components that have impact on product costing such as Bill of Materials, Routings, Costing Lot Size and Procurement KeysOperational Analysis:Analyze procurement transactions and identify the cause for price varianceReview exceptions and abnormal variances and liaise with markets to take corrective actionFactory variance analysis and consolidationDevelop reports that provide insights into price and factory variancesMonth Close Activities:Review of gross stocks and reports that provide value of gross stock based on group accounting policyCalculate variance to be calculated based on group policiesAdherence to standard methodology for calculation of provisions and bring improvements in process as requiredAd Hoc Business Support:Deep dives into transactions and processes to identify issues that may be present and provide solutions for such issuesValidation of dashboards and reportsProvide guidance to markets relating to standard processes and methodologies in areas related to costing and inventory valuationLiaise with Technology Teams:Resolve issues with reports and processesEducation, Qualifications and Experience:Essential:Certified/Qualified Accountant: An accountant certified by a professional accounting body (Chartered accountant or Cost and Management Accountant)University DegreeA minimum of eight years of post-qualification work experience with a manufacturing organisationMinimum of six years hands on experience with SAP product costing and end to end process knowledgeKnowledge on SAP MM and PP modules. Must have experience on how the non-financial information impacts costing.Must have thorough understanding of SAP CO module and process flow for product costing and fixing errors in costing and transaction processing.Experience with analysis of variancesAbility to communicate effectively with stakeholders (oral and written)Ability to work independently or within a team environment and with multiple priorities.Proficiency with spreadsheet applications (excel) and reporting and analysis tools (BW, BCS, Lumira etc.)DesirableSelf-motivatedCollaboration in a remote work environmentAnalytical and logical thinking skillsFocus on quality without sacrifice of timeSelf-learning abilityFlexibility with time and scope of workWe Offer:At our organization, we are committed to innovation, excellence, and fostering a diverse and collaborative environment where every team member can thrive. If you are passionate about making an impact in the industry and eager to join a global leader with a rich heritage and a forward-thinking approach, we invite you to take the next step in your career with us.