Cost Manager Job Description
Cost manager
provides demand-driven advisory services to proposal teams, project management units, and executive management staff on cost strategy, cost and contract negotiation, risk management, financial management, subcontractor pricing, and cost control.
Cost Manager Duties & Responsibilities
To write an effective cost manager job description, begin by listing detailed duties, responsibilities and expectations. We have included cost manager job description templates that you can modify and use.
Sample responsibilities for this position include:
Provide insight and analytics for the Barclays cost position
Develop a deep understanding of functional and in-business cost drivers to promote meaningful debate and challenge of forecasts and actual performance
Systematically identify and manage risks and opportunities to in-year and STP targets through own analysis and dialogue with businesses and functions
Provide finance business partner support on specific cost initiatives – in support of the Barclays Cost Board or one of its supporting sub-boards and cost groups – including sizing of Cost to Achieve (CTA) and cost saving benefits
Act as the cost management expert and lead on Finance change projects to improve systems, processes and outputs that relate to cost management
Build strong relationships with the wider Barclays cost community – including Finance colleagues in businesses and functions
Manage a small team of AVPs + matrix management of offshore support
Supporting the Cost Manager in cost and asset management
Involved in quarterly and yearly budgeting
Responsible for preparation of Financial Reports
Cost Manager Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Cost Manager
List any licenses or certifications required by the position: CPA, PMP, CMA, APICS, AWS, ACE, AACEI, PMI, CECRL, B2
Education for Cost Manager
Typically a job would require a certain level of education.
Employers hiring for the cost manager job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Accounting, Finance, Surveying, Engineering, Technical, Construction, Construction Management, Business, MBA, Management
Skills for Cost Manager
Desired skills for cost manager include:
Cost management applications
Industry standard software
Planning & Scheduling
ERP
Skire
VersaPro
Construction industry
Cost systems
Financial systems
Particularly the Professional Services Contract
Desired experience for cost manager includes:
Working closely with internal stakeholders for planning and strategy
Liaise with Tax and Audit consultants
Managing the team of Cost Accountants
Ensure accuracy and efficiency of the team
Working with necessary stakeholders in the BOM
Be involved in decision making discussions with senior stakeholders
Cost Manager Examples
1
Cost Manager Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of cost manager. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for cost manager
- Analyze actual manufacturing cost and preparing periodic reports comparing standard cost to actual production cost
- Support the strategy to expand internal manufacturing output by preparing scenario analysis for management’s consideration
- Maintain a perpetual inventory for all inventory categories and reconcile the perpetual to receiving, shipping, production and returns daily
- Prepare and enter journal entries and assist in monthly financial reports for management review
- Analyze and reconcile General Ledger account balances
- Develop and maintain standard costs for all Internal Manufacturing
- Develop and maintain metrics and tracking system for major cost drivers
- Oversee the integrity of inventory controls and accuracy of all categories of inventory
- Proactively analyze variances and communicate issues and opportunities to Manufacturing and Operations Management
- Develop and maintain standards for landed costs and ensure that variances to actuals are analyzed, re-measured and adjusted regularly
Qualifications for cost manager
- Five to ten years of cost accounting experience in a Manufacturing environment
- Must have relevant hands on experience working with engineering and manufacturing personnel on development and analysis of cost standards
- Advanced skills in Excel, including pivot tables, vlookups, macros and other advanced functions
- Guide the operating division management in the development of annual operating budgets and quarterly estimates (LE’s)
- Specific accounting and finance experience to include monthly closing, financial planning and analysis, budgeting and projections
- Able to calculate figures and amounts such as discounts, interest, proportions, percentages, and volume
2
Cost Manager Job Description
Job Description Example
Our growing company is hiring for a cost manager. 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 manager
- Attend bi-weekly cost meetings to review procurement status and change order status with the contractors and engineering teams
- Provide cost information on value engineering analysis
- Carry out an earned value analysis of the project on a periodic basis
- Bachelor’s degree in Construction, Quantity Surveying or a related field, plus five years relevant experience
- Strong ability to work with Subject Matter Experts (SME) and engineering leads to provide cost estimates and rationale for engineering tasks (support for Rough Order of Magnitude (ROM) development, Basis of Estimate (BOE) development, proposal efforts)
- Must be a self-starter, interest in learning the product/platform and perform duties with limited direction
- With minimal supervision and where necessary, assists the client with any cost information relating to legal issues due to non performance by the contractors or engineering services and mechanical liens
- Must thoroughly understand and utilize Excel
- Unit Rate experience is preferred
- Drive cost out initiatives, supplier workshops, benchmarking, cost analysis
Qualifications for cost manager
- Experience in engaging and influencing with senior stakeholders, presenting information to drive decision making
- Skilled in extracting information from vendor and internal data for estimating purposes
- Experience in application of costing data across various construction packages
- Experience in using QUEST or other similar estimating software
- Experience in estimating large multi-disciplinary scale projects (EPCM or combination)
- Experience in estimating across multiple projects simultaneously
3
Cost Manager Job Description
Job Description Example
Our growing company is hiring for a cost manager. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for cost manager
- Prepare budgets and forecast for the department
- Support Ad-Hoc requests for cost impacts as required
- Partner with the hardware operations and business systems teams to build out supply chain and inventory enhancements in Oracle R12
- Continuously improve business processes, systems, and enhance documentation and controls as part of our SOX compliance efforts
- Perform actual vs forecast account analyses and present findings to the CAO and CFO
- Support quarterly reviews and annual audits performed by external auditors
- Manage physical inventory counts at contract manufacturers, distribution locations 3rd party resellers globally
- Develop standard unit costs for direct materials, labor and overhead
- Identify areas if concern/opportunity and recommend corrective actions
- Perform physical inventory count reconciliations
Qualifications for cost manager
- Expertise in FCC tariff, CABS billing, Interconnection, data analysis, Vendor negotiations, call detail records and network ordering documents is required to validate and realize these savings dollars
- Financial degree or Engineer degree with knowledge gained in contractual and legal matters
- Expertise in costing
- Manages the N.A
- Assists with the coordination and review of annual physical inventory and cycle counts
- Minimum 5 years experience in accounting and finance, with focus on sales, inventory, cost and margin analysis in a large retail environment with annual revenue of $800MM+
4
Cost Manager Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of cost manager. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for cost manager
- Sourcing of data from various sources/sites/functions, analyse the data through a simple model
- Performance monitoring of operation of power plants at each site
- Create database for all types of cost and performance parameters of each units and regularly update the same
- Prepare performance reports through development of performance monitoring tool, do a benchmarking of different units/plants
- Provide back-up and assistance to the Accounting Manager and Controller in various areas, budgeting, cash flow, financial reporting and analysis
- Prepares and reports analysis on operational performance and budget variances to strengthen cost controls, reduce costs, and increase efficiencies
- Monitors actual costs vs
- Reporting – responsible for the projects weekly and monthly cost reporting
- Reviews daily Price Part Variance (PPV), Sales Price Variance (SPV), Material Price Variance (MPV), production scrap, cycle count scrap, and backflush variance
- Acts as a backup to the management accountant for the workcell/profit center accounting reporting and forecast cycle
Qualifications for cost manager
- Reconcile the monthly actual results to the monthly forecast
- Identify, track and understand all known variance risks and upsides that will or could impact in the fiscal year
- Lead the Monthly Cost Reviews with all Departments
- Responsible for all cost analysis including cost savings opportunities, sourcing studies, new brand initiatives and major plant projects
- Provide solutions to Product Supply leadership to enable “low-cost manufacturing” strategy (Newbridge’s 3 yr journey to deliver breakthrough savings to reduce Manufacturing Expense by more than 5% year on year)
- Financial estimates for Cost and Feasibility requests
5
Cost Manager Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of cost manager. 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 manager
- Produces a regular and timely series of formal service line reports for leadership that reflects system-wide service line performance, individual hospital-based service line performance
- Provides cost data and helps develop targets to achieve cost savings as the organization moves from fee for service to value based, global and bundled payments
- Works collaboratively with service line directors and operational managers to identify cost savings opportunities
- Manage product cost visibility and quotation accuracy
- Establish clear understanding of cost drivers, provide periodical report presenting to the high management
- Drive & track product cost savings with Engineering & procurement team to meet cost reduction commitments commitment
- Plans, coordinates and delivers pre-construction cost management activities associated with new construction and modernization projects
- Responsible for managing the scope, schedule and budget and overall success of projects
- Coordinates estimating efforts with design teams, clients and contractors
- Assists project team staff with contracts and bidding activities
Qualifications for cost manager
- Advanced knowledge in the understanding and comprehension of the technical and practicable methods and techniques for engineering, procurement, construction, commissioning and start-up
- Advanced knowledge in the understanding of project controls concepts and tools (as they relate to cost engineering, estimating planning/scheduling engineering)
- Intermediate knowledge in the understanding of cost/schedule risk analysis as it relates to the risk management program, contingency development and analysis
- Working knowledge of the application of AACEI recommended practices and CII Best Practices
- Knowledge of Hard Dollar, Tableau, SAP software a plus
- Intermediate to Advanced knowledge in the use of MS Office