Product Costing Analyst

Key Responsibilities:

Cost Analysis:

• Analyze product costs, including direct materials, labor, and overhead, to determine accurate cost structures.
  
  
• Conduct variance analysis to identify discrepancies between standard and actual costs.
  
  
• Interact with ERP system to continuously improve cost allocations and costing accuracy.
  
  

Costing Methodologies:

• Develop and maintain costing methodologies, models and standards to ensure consistency and accuracy in product costing across all sites.
  
  
• Implement and update cost accounting systems and processes as needed.
  
  

Business Partnering:

• Work closely with cross-functional teams, including production, procurement, and sales, to gather relevant data and insights for cost analysis.
  
  
• Collaborate with the FP&A team to support budgeting and forecasting processes.
  
  
• Provide cost data and analysis to support pricing strategies and decisions.
  
  Evaluate the impact of cost changes on pricing and profitability.
  
  

Analysis & Reporting:

• Perform regular cost and variance analysis on COGS at product, category, and site level.
  
  
• Conduct variance analysis between standard and actual product costs, investigating root causes and recommending corrective actions.
  
  
• Prepare management reports highlighting cost drivers, trends, and risks with strong focus on product cost dynamics.
  
  

Cost Optimization:

• Identify opportunities for cost reduction and process improvements within the product costing framework.
  
  
• Stay updated on industry trends and best practices in cost accounting and product costing.
  
  

Compliance:

• Ensure compliance with relevant accounting standards and regulations related to cost accounting.
  
  
• Assist in audits and provide necessary documentation related to product costs.
  
  

Planning & Forecasting:

• Provide product cost input into budget, forecasting, and long-range planning cycles.
  
  
• Run scenario analysis and what-if modeling to assess impact of material, labor, and overhead changes on product margins.
  
  

Ad-hoc Support

• Deliver timely product cost analysis for special projects, tenders, and management reviews.
  
  
• Provide cost insights to support strategic initiatives such as make vs.
  
  buy, footprint optimization, and product portfolio decisions

Qualifications:

• Education: Bachelor's degree in Accounting, Finance, Business Administration, Economics or a related field.
  
  A Master's degree or professional certification (e.g., CMA, CPA) is a plus.
  
  
• Experience: 3-5 years of experience in cost accounting, product costing, or financial analysis, preferably in a manufacturing or product-based environment.
  
  
• Technical Skills: Proficiency in accounting software / costing systems (e.g., SAP, Oracle, or other ERP systems) and advanced Excel skills.
  
  
• Analytical Skills: Strong analytical and problem-solving skills with attention to detail.
  
  
• Communication Skills: Excellent verbal and written communication skills, with the ability to present complex information clearly and concisely.
  
  
• Team Player: Ability to work collaboratively in a team environment and build relationships across departments.
  
  
• Time management Skills: Ability to meet deadlines while managing multiple tasks.