Assistant Manager

Role & responsibilities

The core responsibility is to establish, maintain, and analyze the true cost of production to support profitability and strategic pricing.

1. Product Costing & Pricing Support

2. Standard Costing: Prepare and maintain Standard Costs for all products (e.g., a transformer, switchgear), including Bill of Materials (BOM), labor, and overhead absorption rates.

3. New Product Costing: Provide accurate cost estimates for new product proposals and tenders, working closely with the R&D and Sales teams to determine profitable selling prices.

4. Cost Sheet Preparation: Generate monthly/quarterly cost sheets and financial reports for management review.

5. Variance Analysis & Cost Control

6. Monitor & Analyze Variances: Conduct detailed analysis of the differences between Actual Costs and Standard/Budgeted Costs (Material Variance, Labour Variance, Overhead Variance).

7. Root Cause Analysis: Investigate significant variances to identify the root causes (e.g., scrap, rework, material usage inefficiency) and recommend corrective actions to operations management.

8. Cost Reduction Initiatives: Track and report the monetary savings achieved from cost-reduction projects across production, procurement, and logistics.

9. Inventory Valuation & Management

10. Inventory Valuation: Ensure accurate valuation of Raw Materials, Work-In-Progress (WIP), and Finished Goods for financial reporting, adhering to accounting standards.

11. Stock Audit Support: Assist in periodic physical stock counts and internal/statutory audits related to inventory and cost records.

12. Obsolete Inventory: Calculate and manage provisions for slow-moving or obsolete inventory.

13. Budgeting & Financial Planning

14. Budgeting Support: Assist the finance leadership in preparing the annual operating budget, focusing specifically on manufacturing costs, overheads, and inventory targets.

15. Cost Forecasting: Develop cost forecasts and scenario analysis (e.g., impact of a $1 increase in copper prices) to aid strategic business decisions.

The core responsibility is to establish, maintain, and analyze the true cost of production to support profitability and strategic pricing.

1. Product Costing & Pricing Support

2. Standard Costing: Prepare and maintain Standard Costs for all products (e.g., a transformer, switchgear), including Bill of Materials (BOM), labor, and overhead absorption rates.

3. New Product Costing: Provide accurate cost estimates for new product proposals and tenders, working closely with the R&D and Sales teams to determine profitable selling prices.

4. Cost Sheet Preparation: Generate monthly/quarterly cost sheets and financial reports for management review.

5. Variance Analysis & Cost Control

6. Monitor & Analyze Variances: Conduct detailed analysis of the differences between Actual Costs and Standard/Budgeted Costs (Material Variance, Labour Variance, Overhead Variance).

7. Root Cause Analysis: Investigate significant variances to identify the root causes (e.g., scrap, rework, material usage inefficiency) and recommend corrective actions to operations management.

8. Cost Reduction Initiatives: Track and report the monetary savings achieved from cost-reduction projects across production, procurement, and logistics.

9. Inventory Valuation & Management

10. Inventory Valuation: Ensure accurate valuation of Raw Materials, Work-In-Progress (WIP), and Finished Goods for financial reporting, adhering to accounting standards.

11. Stock Audit Support: Assist in periodic physical stock counts and internal/statutory audits related to inventory and cost records.

12. Obsolete Inventory: Calculate and manage provisions for slow-moving or obsolete inventory.

13. Budgeting & Financial Planning

14. Budgeting Support: Assist the finance leadership in preparing the annual operating budget, focusing specifically on manufacturing costs, overheads, and inventory targets.

15. Cost Forecasting: Develop cost forecasts and scenario analysis (e.g., impact of a $1 increase in copper prices) to aid strategic business decisions.

Preferred candidate profile

The ideal candidate for the Assistant Manager Costing role is a highly analytical finance professional with specialized experience in a production-focused environment. This individual will serve as an internal expert, providing the financial intelligence necessary for operational efficiency and profitability across the company.

1. Education and Certification

The candidate should possess a strong educational foundation, preferably holding a professional certification such as a Cost and Management Accountant (CMA / ICWA) or a Chartered Accountant (CA) inter-qualification, paired with a Bachelor's degree in Accounting, Finance, or Commerce. This signifies a comprehensive understanding of both statutory finance and specialized cost accounting principles.

1. Relevant Experience

A minimum of 3 to 5 years of dedicated experience in a similar Costing, Financial Planning & Analysis (FP&A), or MIS role is essential. Crucially, this experience must be rooted in the manufacturing, electrical, or heavy engineering industry, demonstrating familiarity with Bills of Materials (BOM), production processes, inventory flow, and direct/indirect cost allocation specific to a factory setting.

1. Technical & System Proficiency

The successful candidate must be highly competent in using financial systems and tools. Expert-level proficiency in Microsoft Excel (complex functions, modeling, and data manipulation) is mandatory. Strong hands-on experience with an Enterprise Resource Planning (ERP) system like SAP CO (Controlling), Oracle, or similar, is a significant preference, particularly relating to product costing, material ledger, and variance analysis modules.

1. Key Behavioral and Communication Skills

Beyond technical knowledge, the candidate needs a sharp analytical mindset and meticulous attention to detail to ensure the utmost accuracy in cost calculation and reporting. They must possess excellent cross-functional communication and presentation skills to effectively explain complex cost drivers and financial outcomes to non-finance stakeholders, including Production Managers, Engineers, and Senior Leadership. The ability to be proactive, results-oriented, and capable of working under pressure to meet strict reporting and budgeting deadlines is highly valued.