Manager - Costing

We are seeking a highly motivated and detail-oriented Costing Manager to oversee and manage all aspects of cost control within our organization. The ideal candidate will play a crucial role in monitoring, analyzing, and optimizing our financial performance by implementing effective cost management strategies. You will work closely with various departments to ensure cost efficiency, identify areas for improvement, and provide insightful financial analysis to support strategic decision-making.

Key Responsibilities & Key Result Areas

• Standard Cost: Responsible for preparing overhead rates for all cost activities and ensuring timely updates of direct material costs.
• Cost Analysis: Conduct thorough analysis of all direct and indirect costs, identifying trends, variances, and opportunities for cost savings.
• Budgeting and Forecasting: Collaborate with the finance team and department heads to develop, monitor, and maintain annual budgets and forecasts. Provide valuable input and recommendations to ensure cost-effectiveness and accuracy.

• Cost Control Implementation: Establish, implement, and enforce robust cost control measures, policies, and procedures across the organization to minimize waste, reduce expenses, and enhance overall financial performance.
• Variance Analysis and Reporting: Analyze deviations between actual costs and budgeted amounts, investigate the underlying reasons for variances, and propose corrective actions to maintain budget adherence.
• Financial Reporting: Prepare accurate and timely financial reports, including cost analysis reports, budget variance reports, and ad-hoc reports for senior management, providing clear explanations and actionable recommendations.
• Process Improvement: Continuously evaluate and improve existing cost control processes and procedures. Identify areas for automation, streamlining, and efficiency enhancements.
• Cross-functional Collaboration: Partner effectively with various departments, such as procurement, operations, and finance, to align cost control efforts with organizational objectives and provide guidance on cost-related matters.
• Compliance: Ensure adherence to relevant financial regulations, accounting standards (e.g., GAAP, IFRS), and internal control policies. Stay informed about industry best practices and implement them as appropriate.
• Inventory Management (if applicable): Monitor and manage inventory levels to ensure accurate financial reporting, control excess or obsolete stock, and optimize inventory costs.
• Team Management (if applicable): Lead, mentor, and manage a team of cost control professionals, providing clear direction, coaching, and performance feedback to foster a collaborative and high-performing team environment.
• Vendor Relationship Management: Assess vendor relationships and pricing to ensure the best value for the company.

Core Competency

• In terms of competency, you are highly oriented with a strong sense of accountability & ownership.
• Having an Analytical mind with ability to think diversely and understand the big picture of the Organization and its core strategies to transform the very practice and culture of Julphar
• You must have an excellent understanding of Pharmaceutical Business and Strategic Planning skills for diversified Project Management experience coupled with strong influencing skills.
• Strong communication, interpersonal, presentation and decision skills required
• Must have a solution centric mind to understand issues and solve them within a stipulated time frame, ability to understand new issues quickly and make wise decisions.
• Strong presentation skills, able to explain concepts concisely and accurately
• Able to develop strong, cooperative relationships with department heads
• Ability to work under pressure, plan personal workload effectively and delegate.
• Motivated and highly organized professionals should be able to juggle competing priorities.
• High level of integrity and professionalism.

Qualifications,

Key Experiences / Functional Knowledge Requirements:

• Bachelor’s or Master’s degree in Accounting.
• Proven experience in a similar role to ensure strong fit for the position.
• At least 7+ years’ experience in project cost control.
• CMA certification is an advantage.
• Proficient with accounting software (SAP is an advantage).
• Computer knowledge in MS Office – Word, Excel, PowerPoint.

• Self-motivated, commercial awareness, initiative and the ability to work as part of a team.