Costing and Financial Analyst for Manufacturing Excellence

7 days ago


Chennai, Tamil Nadu, India ESAB Full time

About the Role

We are seeking a highly skilled Costing and Financial Analyst to join our team at ESAB. As a key member of our finance department, you will play a critical role in analyzing and optimizing manufacturing costs.

Key Responsibilities

  • Cost Analysis and Forecasting
    • Review analysis and data collection on material, labor, and overhead costs for all major GCE locations. Support unit analysis and collection if necessary.
    • Evaluate production processes and identify inefficiencies impacting cost.
    • Review monthly manufacturing costs forecasts for units are in line with reality, planned actions and supporting long-term objectives and targets.
  • Budgeting and Standard Cost Review
    • Collaborate with finance and production teams to review budgets and standard costs setting for all key manufacturing locations. If necessary, support budgets preparation.
    • Ensure manufacturing costs targets are reflected in budget.
    • Monitor cost variances and recommend corrective actions.
  • Reporting
    • Generate detailed reports on manufacturing costs, variances, and trends.
    • Present cost analysis findings to management to inform strategic decisions.
  • Process Improvement
    • Identify cost-saving opportunities in production and supply chain processes.
    • Propose and implement solutions to reduce waste and optimize resources.
    • Support standard costing systems and processes within the organization.
    • Ensure compliance with financial policies.
    • Ensure manufacturing costs setting, collection and analysis is documented and used by entity controllers even if various information systems are used.
  • Cross-Functional Collaboration
    • Work closely with operations, finance, and procurement teams to align cost management strategies.
    • Provide insights during new product development or process changes.
    • Work closely with IT specialists
  • System and Tools Management
    • Use ERP systems, costing tools, and other financial software for data management and analysis.
    • Maintain accurate cost data in the system for real-time decision-making.

Requirements

To be successful in this role, you will need:

  • Educational Background
    • Bachelor's degree in Finance, Accounting, Business Administration, Industrial Engineering, or a related field.
    • Master's degree or professional certifications (e.g., CIMA, CMA ICWA)
  • Experience
    • Proven experience in cost analysis, manufacturing finance, or a related role in the manufacturing industry.
    • Familiarity with manufacturing practices in at least 2 industries or regions.
  • Technical Skills
    • Proficiency in financial modeling and cost accounting principles.
    • Experience with ERP systems (e.g., SAP, Oracle) and advanced Excel skills.
  • Analytical Abilities
    • Strong analytical mindset with attention to detail.
    • Ability to interpret data and provide actionable insights.
  • Soft Skills
    • Effective communication and presentation skills.
    • Strong organizational and time management abilities.
    • Problem-solving mindset and a proactive approach.
  • Language Proficiency
    • Fluency in English is essential.
    • Proficiency in other European languages is a plus.

What We Offer

As a Costing and Financial Analyst at ESAB, you can expect:

  • A competitive salary range of $80,000 - $110,000 per annum, depending on your experience.
  • A dynamic and fast-paced work environment with opportunities for career growth and development.
  • A comprehensive benefits package, including health insurance, retirement savings plan, and paid time off.

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