Cost Analyst
SUMMARY
Responsible for developing and conducting complex cost analyses to support management in making operating decisions, determining root causes, and preparing recommendations and alternatives for improvements; predicting, planning, and recording variable costs such as purchases of raw material, labor, and operation costs. Provide detailed financial analysis and reports of expenses including breakdowns of project costs, forecasts of remaining expenses, and opportunities to increase efficiency.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- The list of duties and responsibilities is not all-inclusive and may be expanded to include other duties and responsibilities as management may deem necessary from time to time.
- As a member of the Management Team, which also includes the President and the Executive Vice President, this position is responsible for the development and implementation of corporate strategy.
- This position must advise the President and Executive Vice President on cost issues and make recommendations to the President and Executive Vice President and Management Team on strategies and tactics for management of company resources to maximize bottom-line results and return on investment.
- Analyze cost variances, determine data, and process routing anomalies, identify the root cause(s) and prepare recommendations and alternative actions for resolution and improvements.
- Identify data analysis needs and work with appropriate departments to obtain or create the data on a regular basis.
- Prepare analysis and draft materials presenting strategic recommendations to be made to management.
- Leverage product costing expertise and leadership skills to set strategic direction, identify key financial opportunities and lead key improvement initiatives.
- Build relationships at all levels of the organization and in all departments, including but not limited to manufacturing and production, engineering, sales, and customer service.
- Engage employees to achieve required business results: act as a role model and coach.
- Take a leadership role in ensuring facility cost savings pipeline meets expectations for current and future years.
- Drive development of procedures and controls that ensure meaningful and reliable product costs and accurate inventories. Identify best practices and work with employees, managers, and supervisors to implement across the organization. Focus on improving and streamlining processes.
- Ensure inventory accuracy through sound procedures and inventory control processes, including a physical/cycle count program, inventory cost maintenance, new item costs/estimates and purchased material/commodity cost changes within the shipping/receiving/stockroom department.
- Provide detailed reports that will include breakdowns of project costs and forecasts of remaining costs. Document data and statistical procedures used in conducting cost analysis. Recommend benchmarks that will be used to measure the company’s performance.
- Review financial details from past, present, and forecasted operations; identify development opportunities and improvements that can be made.
- Develop and issue daily/weekly/monthly margin reports to help identify areas of revenue exposure. Provide detailed analysis of monthly sales and margin variances, as well as ad hoc analytics as situations arise.
- Review product code profit margins on a monthly and quarterly basis (motors, tools, solenoids). Provide findings to management.
- Participate in new product development opportunities. Provide cost basis analysis for establishing a sell price with and without commission implications.
QUALIFICATION REQUIREMENTS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Supervisory Responsibilities
Carries out supervisory responsibilities in accordance with the organization’s policies and applicable laws. The role is responsible for managing, leading, and engaging all on-site personnel. Strong leadership and staff development skills are essential for success.
Education and/or Experience
Minimum Bachelor’s degree in Accounting or Finance. Master’s degree, CPA or CMA certification preferred. Three or more years of experience in Cost Analysis, or a combination of education and experience in progressively responsible Accounting, Finance or Cost Analysis job functions. Experience in a manufacturing environment a plus.
Language Skills
Ability to read, analyze, interpret, and explain complex financial reports and legal documents. Ability to effectively communicate ideas and to provide succinct instructions or explanations both orally and in written format. Ability to respond to common inquires or complaints from customers or employees, vendors, regulatory agencies, or members of the business community.
Mathematical Skills
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to calculate figures and amounts such as percentages, cost, area, circumference, and volume. Ability to apply mathematical and accounting concepts to the production of financial and cost reporting.
Reasoning Ability
Ability to apply common sense understanding to carry out instructions furnished in written, oral, diagram or report form. Ability to deal with problems involving several concrete variables in non-standardized situations.
Protective Clothing/Equipment Required
When entering a safety-sensitive situation or area, safety equipment and apparel is required and expected to meet applicable regulations and policies.
PHYSICAL DEMANDS
The physical demands described below are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job the employee is frequently required to stand; walk; sit; use hands to finger, handle, or touch; reach above shoulders; stoop; talk or hear; taste or smell. The employee must occasionally lift and/or move up to 10 lbs.
Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.
WORK ENVIRONMENT
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually quiet.
APPLICANTS: Salary commensurate with experience. Salary range $55,000 - $75,000. See our website to learn more about Dumore Corporation. www.dumorecorp.com