Specialist - Product Costing
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Key skills for this role
About the Role
Support Financial Strategy Execution Contribute to the implementation of financial strategies aligned with business objectives, ensuring operational cost efficiency and operational efficiency targets.
Key Skills for This Role
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Support Financial Strategy Execution
- Contribute to the implementation of financial strategies aligned with business objectives, ensuring operational cost efficiency and operational efficiency targets.
Product Costing & Inventory Valuation
- Maintain and validate standard costs, BOM's, routings, and overhead absorption rates
- Perform monthly inventory valuation, reserves, and slow moving/obsolete stock analysis
- Reconcile inventory sub ledgers to GL and investigate valuation differences
- Ensure costing accuracy across plants, warehouses, and SKU's
- Driving and maintaining Activity-Based Costing (ABC) through close coordination with plant operations and cross-functional teams for accurate cost allocation and timely decision-making.
Cost Control & Variance Analysis
- Track Product cost (RM, Bulk SKU's, additives & discrete inventory items, etc.)
- Analyze price, volume, mix, efficiency, and yield variances with root cause commentary
- Partner with operations to identify cost reduction and productivity opportunities
- Monitor savings initiatives and validate financial impact
- Prepare actionable variance dashboards for management review
- Develop and track key financial KPIs (conversion cost, yield, wastage, inventory holding, etc.) and support leadership with actionable insights for performance management.
Budgeting, Forecasting & Performance Analysis
- Support annual budget and rolling forecast cycles for operations finance (Variable & Fixed cost)
- Update & Analise actuals vs. budget/forecast and highlight risks and opportunities
- Develop scenario and sensitivity analyses to support decision making
- Ensure alignment between operational plans and financial targets
Operational Support
- Act as finance business partner to supply chain, manufacturing, and commercial teams
- Support pricing, margin analysis, and customer/product profitability reviews
- Support system setup for new units and establish end-to-end operational and process flows & identify and monitor inventory risks; implement appropriate controls during stabilization.
- Translate operational performance into financial outcomes for stakeholders
- Act as a finance business partner to plant operations, supply chain, and procurement teams to drive data-driven decision-making and performance improvement.
- Identify and recommend improvements in financial processes, systems, and reporting frameworks to enhance efficiency, accuracy, and scalability.
Systems, Controls, Risk, Audit & Compliance
- Ensure adherence to internal controls, accounting policies, and SOP's
- Support internal and external audits, including documentation and issue resolution
- Maintain and improve costing, planning, and reporting systems (e.g., ERP, BI tools)
- Identify control gaps, process inefficiencies, and automation opportunities
- Conduct periodic physical counts and cycle counts with variance analysis and adjustment.
- Ensure compliance with IFRS/local regulations related to inventory and costing
- Support the development and strengthening of internal controls across operational finance processes to mitigate financial and operational risks.
Data & Analytics Support
- Leverage financial and operational data to provide advanced insights (variance analysis, trend analysis, scenario modeling) supporting strategic decisions.
Month End Closing, Reporting & Management Information
- Execute timely month end close activities reconciliation, related to COGS, inventory, and provisions, etc.
- Prepare management reports, KPI's, and dashboards with clear insights
- Ensure accuracy, completeness, and consistency of reported
- Provide variance explanations and executive level commentary
- Prepare & Support ADHOC, monthly and annual financial reporting requirements
Cross-functional Alignment
- Ensure alignment between finance, operations, supply chain, and commercial teams to achieve overall business targets and operational excellence.
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