Specialist - Product Costing

Job Description

The Specialist - Product Costing is responsible for overseeing cost control, product costing, inventory valuation, variance analysis and audit coordination analysis across multi-process food manufacturing operations including flour milling, oats milling, starch milling, poultry processing, and oil crushing.

The role ensures accurate cost allocation, monitors production efficiencies and yield performance, Standard Costing, Variances Actual v/s Standard and provides timely financial insights to support management in improving margins and enhancing operational performance.

Responsibilities

STRATEGIC

• Product Costing & Inventory Valuation
• Cost Control & Variance Analysis
• Budgeting, Forecasting & Performance Analysis
• Operational & Commercial Support
• Systems, Controls, Risk, Audit & Compliance
• Month end closing, Reporting & Management Information
  
  

Operational

Product Costing & Inventory Valuation

• Maintain and validate standard costs, BOMs, routings, and overhead absorption rates
• Perform monthly inventory valuation, reserves, and slow moving/obsolete stock analysis
• Reconcile inventory sub_ledgers to GL and investigate valuation differences
• Ensure costing accuracy across plants, warehouses, and SKU's
  
  

Cost Control & Variance Analysis

• Track Product cost (RM, Bulk SKU's, additives & discrete inventory items, etc.)
• Analyse price, volume, mix, efficiency, and yield variances with root cause commentary
• Partner with operations to identify cost reduction and productivity opportunities
• Monitor savings initiatives and validate financial impact
• Prepare actionable variance dashboards for management review
  
  

Budgeting, Forecasting & Performance Analysis

• Support annual budget and rolling forecast cycles for operations finance (Variable & Fixed cost)
• Update & Analyse actuals vs. budget/forecast and highlight risks and opportunities
• Develop scenario and sensitivity analyses to support decision_making
• Ensure alignment between operational plans and financial targets
  
  

Operational Support

• Act as finance business partner to supply chain, manufacturing, and commercial teams
• Support pricing, margin analysis, and customer/product profitability reviews
• Support system setup for new units and establish end-to-end operational and process flows & identify and monitor inventory risks; implement appropriate controls during stabilization.
• Translate operational performance into financial outcomes for stakeholders
  
  

Systems, Controls, Risk, Audit & Compliance

• Ensure adherence to internal controls, accounting policies, and SOPs
• Support internal and external audits, including documentation and issue resolution
• Maintain and improve costing, planning, and reporting systems (e.g., ERP, BI tools)
• Identify control gaps, process inefficiencies, and automation opportunities
• Conduct periodic physical counts and cycle counts with variance analysis and adjustment.
• Ensure compliance with IFRS/local regulations related to inventory and costing
  
  

Month End Closing, Reporting & Management Information

• Execute timely month end close activities reconciliation, related to COGS, inventory, and provisions, etc.
• Prepare management reports, KPIs, and dashboards with clear insights
• Ensure accuracy, completeness, and consistency of reported financials
• Provide variance explanations and executive level commentary
• Prepare & Support ADHOC, monthly and annual financial reporting requirements
  
  

People Management

• Lead, coach, and develop operation team supporting product costing, inventory valuation, and supply chain finance activities
• Set clear performance objectives aligned to cost control, forecasting accuracy, and operational KPI's
• Review BU team outputs for costing accuracy, variance analysis quality, and month end timeliness
• Provide ongoing coaching on financial analysis, business partnering, and problem solving skills
• Allocate workload and deadlines to BU team effectively to ensure on time delivery of budgets, forecasts, and management reports
• Ensure BU team adherence to financial controls, audit requirements, and compliance standards
• Drive a culture of continuous improvement, accountability, and cost consciousness
• Act as escalation point for complex operational, commercial, or system related issues
• Foster strong cross functional collaboration between manufacturing, finance, supply chain, operations, and commercial teams
  
  

Product / Process Improvement

• Standard Costing Optimization
• Variance Reduction & Root Cause Actioning
• Inventory Health & Working Capital
• Process Standardization & Controls
• Automation & Systems Enablement
• Continuous Improvement
• Forecasting & Scenario Modelling Enhancements
• Training & Change Adoption
• Lead change management initiatives related to systems enhancements, process standardization, and automation
  
  

Educational

QUALIFICATIONS

Minimum: Bachelor's degree in Accounting, Finance, Cost Accounting, or Business Administrationt

Preferred: Professional accounting qualification (CMA, CIMA, ACCA, CPA or equivalent)

Experience

Minimum: 5-7 years of relevant experience in cost accounting, inventory accounting, or manufacturing finance

Preferred: Cost Management certification, Lean or Six Sigma

Knowledge & Skill

• Strong knowledge of product costing, standard costing, and inventory valuation
• Hands on experience with variance analysis (PPV, usage, yield, efficiency, overhead absorption)
• Understanding of manufacturing and supply chain processes
• Solid grasp of IFRS / accounting standards related to inventory and cost of goods sold
• Advanced Excel skills: experience with BI tools (Power BI, etc.) is an advantage
• Strong analytical, problem solving, and root cause analysis skills
• Ability to translate complex cost data into clear business insights
• Good communication and stakeholder management skills
• High attention to detail with a strong control and compliance mindset