Job Title: Finance Manager - Cost Accounting
Job Purpose:
- The Finance Manager will oversee the cost accounting function and provide strategic insights into costing, budgeting, and financial performance. This role is critical for improving cost efficiency and profitability and includes responsibilities for analyzing cost data, developing financial models, and supporting cross-departmental initiatives.
Key Responsibilities:
- Develop and maintain an effective cost accounting system to analyze and interpret financial performance.
- Conduct regular cost analysis, variance analysis, and identify trends to support informed decision-making.
- Prepare and coordinate the annual budgeting process, including preparation of budgets and forecasts for departments.
- Monitor inventory valuations and analyze production costs to ensure financial accuracy.
- Work closely with operational departments to identify cost-saving opportunities and set cost standards.
- Prepare and present financial reports and key metrics to senior management to facilitate strategic business planning.
- Ensure compliance with relevant accounting standards and policies in cost accounting processes.
- Lead, mentor, and develop the cost accounting team to ensure high performance.
Collaboration:
- Collaborate with other departments (operations, procurement, finance) to streamline processes and enhance financial reporting.
- Participate in cross-functional projects to assess financial impact and operational improvements.
Continuous Improvement:
- Identify and implement best practices in cost accounting and financial management.
- Drive process enhancements and innovation to keep cost accounting practices aligned with industry standards.
Requirements
- Bachelor’s degree in Finance, Accounting, or related field; a Master’s degree or CPA certification is preferred.
- Minimum of 5 years of experience in cost accounting or financial analysis, preferably in a manufacturing environment.
- Strong knowledge of cost accounting principles and financial management.
- Proficiency in financial modeling and analysis; experience with ERP systems (e.g., SAP, Oracle) is an advantage.
- Excellent analytical skills, attention to detail, and ability to work under pressure to meet deadlines.
- Strong leadership skills with a proven ability to manage and mentor a team.
- Effective communication skills to present complex financial data clearly to non-financial stakeholders.