Costing Manager (Factory) Strong Financial Modelling Expertise
Position Summary
The Costing Manager is responsible for leading all costing activities within the factory, ensuring accurate product cost structures, driving cost-efficiency initiatives, developing advanced financial models, and supporting strategic decision-making. The role requires deep expertise in manufacturing cost accounting, variance analysis, budgeting, and hands-on financial modelling for complex production environments.
Key Responsibilities
1. Costing & Cost Control
- Develop, maintain, and update detailed product cost models (BOM, labor, overhead, machine rates).
- Analyze standard vs. actual cost variances and recommend corrective actions.
- Oversee cost allocations for production, overheads, and indirect expenses.
- Conduct periodic cost roll-ups and ensure accuracy of costing data in ERP systems.
- Identify opportunities to reduce costs through efficiency and process improvement
2. Financial Modelling
- Build advanced financial models for production scenarios, pricing decisions, investment analysis, and capacity planning.
- Perform what-if sensitivity analysis for raw material price changes, labor variations, and production volumes.
- Create ROI analyses for new machinery, factory expansion, or process change initiatives.
3. Budgeting & Forecasting
- Lead annual manufacturing budget development (materials, labor, overhead).
- Provide monthly and quarterly forecasts based on production performance and cost trends.
- Monitor budget adherence and highlight deviations with actionable insights.
4. Production & Operational Support
- Work closely with Production, Supply Chain, Procurement, and Quality to ensure cost accuracy.
- Validate BOMs, routing data, machine rates, and labor standards.
- Support decision-making on new product introductions (NPI) with cost estimates and profitability projections.
5. Reporting & Compliance
- Prepare periodic cost reports, margin analysis, and manufacturing KPIs.
- Ensure compliance with accounting standards and company policies.
- Support internal and external audits related to manufacturing costs.
Required Qualifications
Education
- Bachelor's degree in Accounting, Finance, Industrial Engineering, or related field.
- CPA, CMA, or similar certification preferred.
Experience
- 7+ years of experience in manufacturing cost accounting or costing management.
- Proven experience building advanced financial models in Excel or BI tools.
- Strong understanding of ERP systems (SAP, Oracle, Microsoft Dynamics, or similar).
Technical Skills
- Advanced Excel (Power Query, Pivot Tables, Macros preferred).
- Strong financial modelling (DCF, sensitivity analysis, scenario modelling).
- Knowledge of BOM & routing structures and standard cost systems.
- Familiarity with lean manufacturing concepts and cost-saving methodologies.
Soft Skills
- Strong analytical and problem-solving skills.
- Excellent communication and cross-functional collaboration.
- Ability to work under pressure and meet deadlines.
- High level of accuracy and attention to detail.
Preferred Attributes
- Experience in manufacturing, industrial production.
- Ability to lead cost-optimization workshops and drive continuous improvement.
- Strong business acumen with strategic thinking capability.
Reporting Structure
- Reports to: Finance Manager / Factory Finance Director
- Supervises: Cost Accountants / Junior Analysts (if applicable)
