Cost Analyst Job Description

Cost Analyst Job Description

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Cost analyst provides financial analysis of a part, process; capital, development expense and cost utilizing industry standard software/systems such as SAP, BDI, Solid Modeling, and/or AS400.

Cost Analyst Duties & Responsibilities

To write an effective cost analyst job description, begin by listing detailed duties, responsibilities and expectations. We have included cost analyst job description templates that you can modify and use.

Sample responsibilities for this position include:

Research and apply relevant Acquisition statutory and regulatory policies
Ensure application of established corporate financial controls within his/her area of responsibility by the effective implementation and maintenance of financial policies and instructions
Standard cost planning as part of the annual AOP and new part number creation
Production order (PDO) process including the review of WIP and settlement of completed production orders
Provide budget inputs and review budget vs
Produce standard cost accounting reports (e.g., depreciation, labor, equipment reports) and prepare standard journal entries and participates in the annual budgeting process by assisting operations management in the completion of their budget inputs, review of spending, staffing, production and capital plans, and completion of the budget templates
Direct monthly accounting close process for the site
Prepare and distribute monthly results to site management and for corporate consolidation within the company's reporting formats
Review and analyze purchase and staffing requests while ensuring that spending and headcount levels are within budget targets
Play an integral role in development of site budgets, forecasts, and long range plans Assist site management in the development and reporting of Key Performance Indicators (KPIs)

Cost Analyst Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Cost Analyst

List any licenses or certifications required by the position: CPA, DAWIA, MBA, PMP, ICEAA, DISA, CMA, II, ICF, CECRL

Education for Cost Analyst

Typically a job would require a certain level of education.

Employers hiring for the cost analyst job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Accounting, Finance, Business, Engineering, Economics, Education, Business/Administration, Mathematics, Statistics, Management

Skills for Cost Analyst

Desired skills for cost analyst include:

SAP
Excel
Microsoft Excel
Financial / cost analyst practices
Policies
Procedures and principles of performance analysis benchmarking and audit compliance
Practices and systems
FAR and TINA requirements
Techniques
Industry practices

Desired experience for cost analyst includes:

Cost Accounting experience is a PLUS as well
Review capital asset spending with facilities and project managers
Multi-task between communication channels and business enterprise systems
Demonstrated orientation toward understanding complex processes, documentation and process improvement
Strong organizational skills – documentation and process improvement
Good communication skills within a team and across functions

Cost Analyst Examples

1

Cost Analyst Job Description

Job Description Example
Our company is hiring for a cost analyst. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for cost analyst
  • Remove shells from basic/non-complex parts using the jackhammer, water blaster, sand blaster, and hand tools
  • With the help of senior Operators and leads, remove shell casings from parts using the caustic tank
  • Certified crane/fork lift driver
  • With the help of senior Operators, utilize the cutting torch and band saw to cut off smaller, non-complex parts
  • Other duties as assigned, including duties outside the KO area
  • Ensure that machinery and equipment in the department are used in a safe manner
  • Interact with others as a mutually-supportive team member
  • May perform some or all of the duties of an Operator A while in training for that position
  • May be required to manage hazardous wastes
  • Coordinate all NA Intercompany charges requests, approvals
Qualifications for cost analyst
  • Must have strong analytical skills, work with minimal supervision, be highly motivated and be able to mine data via query creation in a database and ERP environment
  • Assist in the creation and preparation of the month financial statements and annual business plan plus operating the budget for the facility
  • Completed Post Secondary education in Business, Accounting or Economics
  • The combination of duties requires a varied knowledge of the company's operations and commitment to deadlines
  • Ability to work with people on several levels and co-ordinate information may produce a challenging environment
  • 2+ years’ experience in business or accounting is necessary
2

Cost Analyst Job Description

Job Description Example
Our company is hiring for a cost analyst. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for cost analyst
  • Providing significant expertise and the ability to apply functional knowledge in areas of the specific PWS requirements
  • Support USMC clients performing CARD review developing cost estimates and documentation for complex projects and operations
  • Collect, analyze, and evaluate historical data and expert opinion to provide a basis for assumptions, methodologies, and estimate results, applying sound reason and appropriate judgment
  • Track and manage invoices and track/confirm deliverables with project team members
  • Respond to budget inquires from management
  • Participate in the monthly, quarterly and annual budgeting process by assisting operations management in the completion of their budget inputs, review of spending, staffing, and completion of the budget templates
  • Establish contracts with external / internal suppliers (via NEXts system) and monitor the related budget in line with the P&LD PMO
  • Plan occasional events, as needed
  • Coordinate availability of team members for meetings and travel
  • Prepare meetings, audio-conferences or video-conferences
Qualifications for cost analyst
  • Minimum of 2 years of inventory analysis and reporting experience in a manufacturing environment
  • Financial analysis skills that center on understanding the financial impact of changes to design specification, manufacturing process, and supply chain costs are also required
  • Solid analytical skills and a strong business acumen including experience with lean manufacturing process tools (Toyota approach), design for assembly, design for manufacturing, and manufacturing cost structure analysis are key
  • Experience with Software Estimation, Planning, and Project Control (SEER–SEEM), Software Life Cycle Management (SLIM), and the Constructive Cost Model (COCOMO)
  • Complete the monthly inventory costing process
  • Calculate and monitor the required inventory valuation reserves
3

Cost Analyst Job Description

Job Description Example
Our innovative and growing company is hiring for a cost analyst. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for cost analyst
  • Foster a climate and culture where Safety, Health and, Environment are addressed effectively and speedily
  • Control the timesheet database
  • Manage the weekly input of payroll into database for monthly and weekly staff
  • Transfer costs to the correct codes in order to keep weekly reports up to date and accurate
  • Provide reports for Resource invoicing purposes
  • Provide details to NG Managers for auditing purposes
  • Knowledge of Oracle and Business Objects reporting systems
  • Excellent literacy, numeracy, and data management skills
  • Ensures consistency and adequacy of inventory valuations of Mexico, Argentina and Chile for all segments
  • Manages all of the cost accounting processes for all products sold
Qualifications for cost analyst
  • Bachelors Degree in Business, Accounting, Finance, or related experience
  • Minimum of 2 years of cost accounting experience in a heavy industrial, automotive, durable medical equipment, or forklift manufacturing environment
  • BA/BS in business with a major in Accounting
  • Demonstrated communication and interpersonal skills plus an ability to function in a collaborative environment
  • Able to maintain good working relationships with all personnel at the Company
  • Accountant background with minimum 2 years of experience in in a comparable industrial environment
4

Cost Analyst Job Description

Job Description Example
Our innovative and growing company is hiring for a cost analyst. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for cost analyst
  • Organize domestic and international business trips
  • Ensure appropriate communication of administrative information
  • Cross-train within the Cost Accounting Department with other groups in the organization
  • Identify the sustainment cost impacts of acquisition decisions
  • Evaluate courses of action for contracting
  • Build and defend budget requirements
  • Provide thought leadership clearly demonstrating an understanding of the customer mission and innovative ideas to address business challenges of the customerWork with clients to define deliverable scope, timelines, and expectations
  • Communicate and work with diverse organizations and representatives for data collection, analysis, and results presentation
  • Lead, develop, update, manipulate, and maintain cost and affordability models Lead efforts in collecting, normalizing, and analyzing complex data
  • Manage solution delivery to base-lined schedule
Qualifications for cost analyst
  • Proficiency in Oracle Process Manufacturing (OPM) system preferred
  • BS Finance, BS Accounting or Industrial Engineering Degree
  • 5-10 years experience within a multi-site international manufacturing organization desired
  • Excellent analytical, communication, & organization skills required
  • Ability to adapt to the needs of the company with various ad-hoc analysis skills
  • Bilingual in English & Spanish desired
5

Cost Analyst Job Description

Job Description Example
Our growing company is hiring for a cost analyst. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for cost analyst
  • Quarterly preparation and analysis of activity based cost models
  • Reconciliation of production variances
  • Forecast and demand analysis to support revenue changes
  • Obsolete inventory analysis
  • Pricing and gross margin analysis
  • Assists in the preparation of daily, weekly, monthly and quarterly reports
  • Generates Scorecard and P&L reports on a monthly basis
  • Generates inventory aging reports and follow up on issues where necessary
  • Assists in the preparation of financial forecast, Standard Cost change
  • Prepares complete and accurate cost and overhead/capturing for the products
Qualifications for cost analyst
  • Knowledge of SunTrust business lines, organizational structure and our existing business processes is preferred
  • Aptitude to work independently and under deadline pressure
  • Bachelor's Degree in Business Administration, Accounting, Economics, Finance or any of the Science, Technology, Engineering, or Math disciplines
  • Bachelor's degree in a quantitative discipline (e.g., economics, engineering, mathematics, operations research, statistics or business) or a discipline that fosters problem solving, structured thought and creativity
  • Certified in their specific career field (Cost Estimating or IPM/EVM) by a recognized professional society or educational organization (Career field specific DAWIA level II, ICEAA CCEA/PCEA, AACE EVP or PMI
  • A degree in Operations Research, Business, Math, or the sciences is preferred

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