Cost Accounting Director

Are you a qualified CMA (ICWA) (mandatory) professional with more than 20 years of work experience and a results-driven individual capable of managing complex accounting routines, leading a team, and driving operational improvements while maintaining a high standard of accuracy and collaboration?

If you are a seasoned cost accounting professional with a passion for process excellence and global operations, we encourage you to apply.

This role is based in Chennai and it is a work from office role where you would be primarily working in US hours (5pm IST to 2am IST).

Job Summary:

We are seeking a highly experienced and detail-oriented Senior Cost Accounting Manager with over 20 years of experience in financial and cost accounting, inventory management, and financial close processes. The successful candidate will manage key costing routines, oversee financial close procedures, and collaborate with cross-functional teams to ensure accurate reporting, compliance, and timely issue resolution. The ideal candidate will have significant expertise in global inventory control, accounting for future obligations (e.g., warranty provisions), and driving process improvements to ensure operational efficiency and accuracy.

Key Responsibilities:

Cost Accounting & Routine Management:

• Oversee daily, weekly, and monthly costing routines to ensure they are completed timely and accurately.
• Manage and improve the financial close checklist, ensuring all tasks are completed without delays, especially in high-pressure periods.
• Identify and address bottlenecks and inefficiencies in costing processes, ensuring smooth execution and minimal disruption.

Financial Close & Journal Entries:

• Ensure proper accounting for inventory, including handling cut-off control and accurate journal entries for period-end close.
• Monitor and manage the creation of journal entries and reconciliations, ensuring they are done in a manner that supports future reporting needs.
• Ensure all financial close activities are completed per deadlines and that all reporting is accurate, particularly related to inventory and cost reporting.

Inventory Control & Reporting:

• Oversee global inventory validation processes, including vendor validations, physical inventory counts, and coordination across multiple time zones and locations.
• Ensure timely and accurate reporting on inventory metrics, including inventory turns and general inventory reporting.
• Work with operational teams to ensure inventory accuracy and resolve discrepancies post-close.

Provisions, Reserves & Future Obligations:

• Manage and account for inventory-related reserves and provisions, including warranty provisions and other future obligations.
• Ensure that journal entries and accounting procedures are set up to track future consumption and align with long-term reporting needs.
• Issue Resolution & Cross-functional Collaboration:
• Act as a business partner, working closely with operations teams to resolve discrepancies and financial issues post-close.
• Collaborate with stakeholders to ensure clear ownership of processes and resolution of issues promptly, especially during financial close periods.
• Ensure that any errors or corrections are properly tagged to the relevant orders to avoid double corrections.

Aged Assessment Management:

• Lead the process of assessing and working down aged financial items post-period end, collaborating with operational partners to address and resolve these issues in a timely manner.
• Team Leadership & Oversight:
• Manage and oversee a team responsible for daily cost accounting and financial close tasks, ensuring that all procedures are followed and deadlines are met.
• Provide guidance and leadership to the team, mentoring junior staff and ensuring they understand the broader business implications of their work.
• Ensure high-level oversight of day-to-day operations while focusing on strategic improvements.

Global Coordination & Vendor Relations:

• Manage the global schedule for inventory validations and ensure accurate data recording and reporting within the system.
• Oversee and validate physical inventory counts and ensure global alignment and consistency in inventory management practices.

Reporting & Compliance:

• Ensure all internal and external financial reporting related to cost accounting, inventory, and provisions is accurate and completed on time.
• Stay updated with accounting standards, regulations, and compliance requirements relevant to cost accounting and inventory management.

Process Improvement & Innovation:

• Continuously identify and implement process improvements to increase efficiency and accuracy in cost accounting, inventory control, and financial close processes.
• Lead efforts to integrate new technologies and systems, such as cloud-based solutions, into costing and financial accounting processes.

Qualifications:

• Education: qualified CMA (ICWA) mandatory.
• Experience: Minimum of 20 years of experience in cost accounting, financial close processes, inventory management, and financial reporting. Experience in a global manufacturing or production environment is highly desirable.
• Technical Skills:
• Extensive experience with accounting software and ERP systems (e.g., SAP, Oracle, or similar).
• Advanced knowledge of accounting standards, financial reporting, and cost accounting principles.
• Familiarity with cloud-based systems and transitioning accounting processes to new technologies.
• Leadership: Proven ability to lead teams, manage cross-functional collaboration, and mentor junior staff.
• Problem-Solving & Analytical Skills: Strong analytical skills with the ability to identify issues, resolve discrepancies, and implement improvements.
• Communication: Excellent communication skills, both written and verbal, with the ability to present complex financial information to senior management and non-financial stakeholders.

Personal Attributes:

• Strong leadership and interpersonal skills with a proven ability to collaborate across departments.
• Detail-oriented, with a strong commitment to accuracy and meeting deadlines under pressure.
• Highly adaptable and capable of driving change in a dynamic, global organization.
• Proactive in identifying opportunities for process improvement and operational efficiency.