Cost Management Specialist
7 days ago
**Job Overview:**
We are seeking a seasoned Cost Management Specialist to join our team at Unique Personnel Ltd. As a key member of our finance department, you will be responsible for overseeing the cost accounting function and ensuring accurate tracking and reporting of production costs.
Main Accountabilities:
- Oversee the cost accounting function to ensure accurate tracking and reporting of production costs.
- Analyze and report on cost variances, identifying the causes and suggesting corrective actions to management.
- Monitor and review cost allocations to ensure compliance with internal control procedures.
- Investigate low GP sales orders, labor and overhead recoveries, and update standard costing models for inventory, labor, and overhead costs.
- Prepare and present monthly, quarterly, and annual cost reports to senior management, highlighting key trends and insights on cost behavior and profitability.
- Collaborate with the finance team to support the preparation of budgets, forecasts, and strategic financial planning.
- Ensure accurate accounting and reporting of inventory, including stock reconciliation and valuation.
- Process Improvement & Efficiency:
- Identify cost-saving opportunities and highlight cost drivers.
- Recommend ways of reducing scrap rates and assist with monthly stock takes.
- Work closely with operational teams to provide financial insights aimed at improving production efficiency and minimizing waste.
- Team Leadership & Collaboration:
- Collaborate with other departments, including operations, procurement, and sales, to improve cost visibility and reporting accuracy.
- Compliance & Audit:
- Assist in the preparation for internal and external audits, ensuring adherence to company policies.
- Ensure that all cost accounting practices comply with relevant accounting standards and company procedures.
Key Skills & Qualifications:
- A minimum of 3-4 years of experience in cost accounting or a similar financial role, with a strong focus on manufacturing or FMCG environments.
- Experience with BOMs, variance analysis, and financial forecasting.
- Strong attention to detail with a high level of accuracy in financial data analysis.
- In-depth knowledge of costing systems, inventory management, and budgeting processes.
- Previous experience working with ERP systems (e.g., Sage, SAP, Syspro, or similar).
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