Cost Analysis Specialist

2 weeks ago

Cleveland, Ohio, United States SIFCO Full time
Job Overview

Location
Cleveland, OH

Employment Type
Full Time

Compensation
$57,000 - $86,900.00 Annual Salary

Position Summary

The Cost Analysis Specialist plays a vital role in supporting the Senior Accountant by establishing and maintaining standard costing for various components. This role is integral in the preparation of financial reports during month-end closures and involves comprehensive analysis of these reports. The position also requires collaboration with both internal and external auditors to address audit schedules and inquiries.

Key Responsibilities
  • Assist the Senior Accountant in analyzing variances in manufacturing costs against established standards and budgets, focusing on operational spending, material pricing, labor efficiency, and burden variances.
  • Support key cost accounting functions, including inventory valuation, calculations for excess and obsolescence reserves, monthly inventory reconciliations, and coordination of annual physical counts with external auditors. Regular engagement on the shop floor is expected.
  • Collaborate with the supply chain team to monitor Purchase Price Variance (PPV).
  • Analyze cost-related issues, including scrap and obsolescence.
  • Support the Senior Accountant in updating standard costs for parts as necessary.
  • Assist in the annual standard cost roll process.
  • Engage with external auditors on cost accounting matters.
  • Coordinate with the internal audit team regarding cost accounting internal controls.
  • Provide analytical support to the Senior Accountant on product standard costs, margins, and inventory.
  • Participate in cross-functional teams for New Product Development, including conducting time studies and observations alongside engineers.
  • Prepare necessary month-end journal entries related to inventory and cost of sales.
  • Contribute to the month-end closing process by analyzing results as directed by the Senior Accountant and Division Controller.
  • Perform additional duties as assigned.
Qualifications

To excel in this role, candidates must demonstrate the ability to fulfill each essential duty satisfactorily. The qualifications listed below represent the knowledge, skills, and abilities required for this position:

  • Bachelor's degree in Accounting or Finance from an accredited institution.
  • A minimum of 4 years of hands-on experience in cost accounting, preferably within a manufacturing setting.
  • Strong understanding of US Generally Accepted Accounting Principles (GAAP).
  • Familiarity with SAP or other ERP systems is highly preferred.
  • Advanced proficiency in Excel, Word, and data manipulation skills, including pivot tables and vlookups.
  • Demonstrated sound judgment and insight.
  • Strong problem-solving skills and initiative in driving positive change.
  • Self-motivated with a proactive and positive attitude.
  • Timely response to information requests.
  • Effective written and verbal communication skills.
Language Proficiency

Ability to read, analyze, and interpret general business publications, professional journals, technical procedures, or governmental regulations. Capable of writing reports, business correspondence, and procedural manuals. Proficient in presenting information and addressing inquiries from managers, clients, and the public.

Mathematical Skills

Ability to apply advanced mathematical concepts and operations to various tasks, including statistical analysis and data interpretation.

Reasoning Skills

Ability to define problems, gather data, establish facts, and draw valid conclusions. Capable of interpreting a variety of technical instructions and managing multiple variables.

Physical Requirements

The physical demands of this position require the employee to regularly sit, use hands and fingers, and communicate effectively. Occasional standing and walking are required, as well as the ability to lift and/or move up to 25 pounds. Specific vision abilities include close vision, distance vision, and the ability to adjust focus.

Work Environment

This role is primarily office-based, with reasonable accommodations available for individuals with disabilities. The noise level is typical of an office environment.

SIFCO Forge values a diverse workforce and is committed to equal opportunity employment. We encourage individuals from various backgrounds to apply.

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