Cost engineer

Essential Job Functions & Minimum Requirements

Role Overview

The Cost Engineer is responsible for managing and optimising product and project costs across the manufacturing lifecycle within the automotive product line. This role combines cost estimation, variance analysis, supplier cost management and cross-functional collaboration to ensure accurate costing, support pricing decisions and drive cost-reduction initiatives from concept through production and post-launch support.

Key Responsibilities

• Analyze and monitor manufacturing costs, including raw materials, labor, overhead, and waste.
• Develop and maintain standard costing systems and cost models for all production processes.
• Prepare detailed cost estimates for new and existing products and projects.
• Evaluate and improve cost structures and suggest cost-saving opportunities.
• Monitor actual vs. standard costs, analyze variances, and report root causes.
• Work closely with production, procurement, and planning teams to understand the full production cycle and align cost controls.
• Conduct periodic inventory valuations and participate in stock audits.
• Assist in the budgeting and forecasting process for factory operations.
• Generate reports on product profitability, break-even analysis, and production efficiency.
• Ensure compliance with internal controls and company financial policies.

Qualifications & Experience

• Degree or HNC/HND in Engineering, Manufacturing, Finance, Economics or a related discipline, or equivalent practical experience.

• Experience with cost modelling, activity-based costing, and familiarity with ERP systems and financial reporting processes.

• Understanding of manufacturing processes, supplier sourcing and total cost of ownership methodologies; exposure to value engineering and Lean is advantageous.

• Proven experience using Excel for advanced analysis; competency with costing or BI tools is desirable.