Manager Costing / Head Costing

Job Description Costing

Job Summary: We are seeking a highly skilled and experienced Cost Analyst to join our team. The ideal candidate will have a strong background in cost auditing, cost accounting, and cost analysis within a manufacturing or engineering environment. This role involves preparing cost sheets, conducting variance analysis, and maintaining cost centers, among other responsibilities. Proficiency in SAP (costing module) and strong analytical skills are essential.

Key Responsibilities:

1. Preparation of Cost Sheets:

• Compile and analyze all costs associated with the production of goods or services.
• Determine total cost and cost per unit.

2. Cost Auditing, Accounting, and Analysis:

• Conduct thorough cost audits to ensure accuracy and compliance.
• Manage and record costs effectively.
• Analyze cost data to support informed business decisions.

3. OSP Rate Comparison and Approval:

• Evaluate and compare rates for outside processing services.
• Approve rates based on detailed analysis.

4. Variance Analysis:

• Compare actual costs to budgeted or standard costs.
• Identify and explain variances to support cost control.

5. Cost Saving Approval:

• Review and approve cost-saving initiatives.
• Ensure proposed savings are feasible and beneficial.

6. Maintenance of Cost Centers, Hourly Rates, and Process Costs:

• Manage and update cost centers.
• Determine and maintain accurate hourly rates for labor.
• Calculate process costs for accurate cost allocation.

7. Inventory Valuation:

• Determine the value of inventory, including raw materials, work-in-progress, and finished goods.
• Standard cost accuracy in SAP for all Units.
• Ensure accurate inventory valuation for financial reporting.

8. Monthly Costing MIS:

• Prepare and present monthly cost reports and analyses to management.
• Support performance monitoring and decision-making.
• Plant wise resources utilization report (Machine & Manpower).

9. Proficiency in SAP (Costing Module):

• Utilize SAP software for cost management and analysis.
• Ensure accurate and efficient use of the costing module.

10. Analytical Skills:

• Analyze complex data to identify patterns and draw meaningful conclusions.
• Support effective cost management and decision-making.

11. Data Analysis and Report Preparation:

• Collect, process, and analyze data to prepare detailed reports.
• Provide insights and recommendations based on data analysis.

12. Other Reports:

• Payback period, Return on Investment and Internal rate of return for new Investment / Capex.
• Set Standard operating procedure for Costing dept.

Qualifications:

• ICWA/CMA
• Proven experience in cost auditing, cost accounting, and cost analysis.
• Proficiency in SAP (costing module).
• Strong analytical and data analysis skills.
• Excellent communication and report preparation abilities.

Preferred Skills:

• Minimum 10 years’ experience in a manufacturing or engineering environment.
• Strong attention to detail and accuracy.
• Ability to work independently and as part of a team.