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Cost Analyst
4 months ago
The Job Costing Analyst will be responsible for analyzing the costs associated with the production of metal component parts/products. This role involves working closely with the production, sales, estimating, and purchasing teams to ensure accurate cost allocation, identify cost-saving opportunities, and support financial decision-making processes. The ideal candidate will have a strong background in cost accounting, excellent analytical skills, and a keen eye for detail.
Key Responsibilities:
- Analyze job costs for manufacturing projects/parts and/or customer orders, to ensure accurate cost allocation and reporting.
- Prepare detailed cost estimates for new and existing projects/parts/orders, including labor, materials, and overhead costs.
- Monitor and report on job costs, variances, and profitability, providing insights to management for strategic decision-making.
- Collaborate with production, sales, estimating and purchasing teams to gather and validate cost data.
- Develop and maintain cost models and tools to support project budgeting and forecasting.
- Identify cost-saving opportunities and recommend process improvements to enhance efficiency and profitability.
- Conduct regular audits of job cost records to ensure compliance with company policies and accounting standards.
- Analyze overall ongoing part costs of jobs completed to verify PNL levels and identify parts/processes for cost performance improvement projects
- Identify and address consistently poor cost performing parts and facilitate cross functional team collaboration to provide cost effective solutions and recommendations for continuous improvements.
- Keep detailed records for costing standards and update as necessary through ERP systems.
- Work with other departments to keep zero price issues at a minimum and facilitate quick turnaround on order pricing issue resolution.
- Design, implement, manage and monitor cost reporting systems.
- Stay updated on industry trends, cost drivers, and best practices in job costing and cost management.
Knowledge, Skills and Abilities:
- Bachelor’s degree in accounting, finance, business administration, or a related field. Equivalent experience in industry will be considered.
- Minimum of 2 years of experience in cost accounting, job costing, or financial analysis in a manufacturing environment.
- Strong understanding of cost accounting principles, job costing methodologies, and financial analysis techniques.
- Proficiency in ERP systems and advanced Excel skills.
- Excellent analytical, problem-solving, and organizational skills.
- Attention to detail and a high level of accuracy in work.
- Ability to work independently and as part of a team in a fast-paced environment.
- Strong interpersonal skills and the ability to collaborate effectively with cross-functional teams.
Preferred Qualifications:
- CPA, CMA, or other relevant professional certification.
- Knowledge of lean manufacturing principles and continuous improvement methodologies.
