Job Description: Senior Finance Associate – Cost Accounting
Location: Chennai
Experience: 3-6 Years
Qualification: CMA, ICWA, or CA
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Position Overview:
The Senior Finance Associate – Cost Accounting will be responsible for managing and overseeing the cost accounting functions of the organization. This role involves providing insights into cost control, supporting financial planning, and optimizing resource allocation. The ideal candidate will have a strong background in cost accounting and the ability to collaborate cross-functionally.
Key Responsibilities:
- Cost Accounting & Financial Analysis:
- Lead and manage the cost accounting processes, including cost allocation, inventory valuation, and cost variance analysis.
- Prepare and analyze monthly, quarterly, and annual cost reports and present findings to senior management.
- Develop and maintain standard cost models and ensure alignment with organizational goals.
- Budgeting & Forecasting:
- Work closely with finance and operations teams to support budget development and cost forecasting.
- Assist in the preparation of annual budgets, including analysis of cost trends, resource allocation, and variance reporting.
- Cost Control & Optimization:
- Analyze and monitor product costs, manufacturing expenses, and operational efficiencies to identify cost-saving opportunities.
- Implement cost control measures to improve profitability and ensure adherence to the budget.
- Inventory Management:
- Oversee the cost accounting for inventory management, ensuring accurate valuation and reconciliation of raw materials, work-in-progress, and finished goods.
- Collaborate with supply chain and production teams to streamline inventory cost reporting and reduce wastage.
- Compliance & Internal Controls:
- Ensure adherence to regulatory and compliance requirements, including cost accounting standards (CAS) and company policies.
- Review and improve internal controls related to cost accounting processes.
- Collaboration & Stakeholder Management:
- Collaborate with operations, production, and procurement teams to ensure cost-related insights are integrated into decision-making.
- Provide support for audits and liaise with external auditors regarding cost-related matters.
Qualifications & Skills:
- CMA, ICWA, or CA qualification is mandatory.
- 3-6 years of experience in cost accounting, with at least 2 years in a managerial or supervisory role.
- Expertise in cost analysis, budgeting, and forecasting.
- Strong knowledge of inventory management, variance analysis, and cost optimization.
- Proficiency in ERP systems (SAP, Oracle, etc.) and advanced Excel skills. Proficiency in dynamics would be preferred.
- Excellent communication, problem-solving, and analytical skills.
- Ability to work in a fast-paced environment and handle multiple projects simultaneously.
Preferred:
- Experience in the manufacturing retail industry.
- Knowledge of Indian and international cost accounting standards.
