Senior Cost Accountant

SUMMARY:

The Senior Cost Accountant will play a key role in tracking inventory costs, labor costs, and project progress to produce these innovative solutions. This position will focus on determining the cost of goods by analyzing the true cost of production, monitoring performance against budgets, identifying variances, and providing actionable insights to ensure financial objectives are met for a healthcare company and a leader in the fight against cancer.

JOB RESPONSIBILITIES:

Cost Analysis and Reporting:

• Track and analyze inventory costs, labor costs, and overhead products.
• Oversee inventory accounting and reconcile physical inventories with financial records.
• Ensure accurate inventory valuation and reporting and analyze inventory variances.
• Develop and maintain accurate cost-of-goods (COGS) models for existing and new products.
• Monitor production costs and identify opportunities for efficiency and cost savings.

Budgeting and Variance Analysis:

• Compare actual costs and project progress against budgets and forecasts.
• Identify variances and perform root cause analysis to explain discrepancies.
• Provide recommendations to management to address variances and improve cost performance.

Project Accounting:

• Collaborate with project managers to track project milestones and costs.
• Ensure accurate cost allocation to specific projects and products.
• Provide financial insights to ensure projects are delivered within budget.

Budget Preparation and Monitoring:

• Assist in the preparation of budgets, forecasts, and financial planning.
• Monitor actual performance against budgeted figures, identify variances, and analyze the reasons behind them.
• Perform month-end close activities related to cost accounting, such as journal entries, account reconciliations, and variance analysis.
• Ensure the accurate and timely closing of financial records.

Financial Modeling and Analysis:

• Develop financial models to support decision-making related to cost management, pricing, and profitability.
• Analyze financial data to identify trends and provide insights to management.
• Maintain and enhance cost accounting systems and processes.
• Implement new software or tools to improve efficiency and accuracy in cost accounting functions.

EXPERIENCE AND EDUCATION:

• Bachelor’s degree in accounting, finance, or a related field. CPA, CMA, or equivalent certification preferred.
• 10+ years of experience in cost accounting in a production or manufacturing environment.
• Experience with project-based accounting and inventory management.
• Familiarity with highly technical and regulated industries such as medical device manufacturing, or aerospace is a plus.

KEY COMPETENCIES:

• High attention to detail and accuracy.
• Strong analytical and problem-solving skills.
• Ability to work independently and manage multiple priorities.
• Excellent communication and interpersonal skills to collaborate across teams