Senior Cost Analyst
- North Charleston,SC
- Job Category
- Job Type
Learn more about this role and how you can begin Powering your potential.
This is an exciting opportunity in Ladson, SC for a Senior Cost Analyst. Cummins USA is where you can work on industry leading engineering projects such as New Product Development, Value Package Introduction and Systems Product Validation.
Your impact will happen in these and other ways:
• Responsible for developing and conducting complex cost analyses to support management in making operating decisions.
• Determines the appropriate data to collect to provide the most insightful data to guide decision making. Develops and conducts complex cost audits and cost analysis.
• Supports complex Value Package Introduction and new product introduction projects.
Business partnering internal and external to operations.
• Analyzes cost variances (IPV (Invoice Price Variance)/PPV (Purchase Price Variance)), determines root causes, and prepares recommendations and alternatives for improvements. Identifies data analysis needs and works with appropriate departments to obtain the data on a regular basis.
• Prepares analysis and drafts materials presenting strategic recommendations to be made to management.
• Supports Supply Chain function for inventory management, conducting planning, forecasting, and reporting activities and preparing balance sheet reconciliations for valuation and inventory reserves.
• Ensures inventory accounting is accurate and leads the physical inventory process (direct and indirect) from a finance perspective, verifies cycle counting process and verifies the inventory valuation process.
• Supports standard setting and reactive cost process (annual cost role up, defining reactive costs, etc.).
• Coaches less experienced Cost Analysts.
US Generally Accepted Accounting Principles - Evaluates US accounting standards to record transactions in compliance with requirements and company policies; assesses the accounting requirements and objectives to determine the implications on the business and communicate to stakeholders with varying financial knowledge.
Financial Reporting - Analyzes financial data by evaluating results and solutions to support business decisions; prepares and presents financial information by summarizing data to communicate results in compliance with regulations and stakeholder expectations; partners with stakeholders to drive financial performance that aligns to organizational goals and strategies.
Financial Internal Controls - Leverages internal control framework by assessing internal controls and developing remediation plans to mitigate financial reporting risks and respond to changing business needs.
Business Partnering - Collaborates with stakeholders and develops partnerships to drive performance that aligns to organizational goals and strategies; influences the organization by demonstrating knowledge of the business to provide guidance to support the decision making process and guiding the business towards positive results and organizational alignment; evaluates business environment using measures to mitigate risk and capitalize on opportunities.
Financial Planning and Forecasting - Utilizes financial forecast data to provide forward looking projections to facilitate decision making; partners with stakeholders to analyze trends and validate assumptions to provide a forecast that aligns to the organization's goals and strategies.
Financial Analysis - Interprets financial data by analyzing trends, variances, opportunities and risks to provide insight to stakeholders regarding financial impact to drive business improvement; evaluates financial results against targets to communicate conclusions to all stakeholders; ensures integrity of financial data by investigating variances and determining corrective actions to resolve identified issues.
Product Costing - Establishes total material costs to ensure compliance with policies and completeness of the bill of materials; develops labor and overhead rates to ensure inventory costed in compliance with company policies; analyzes actual cost to understand variances to estimates to improve integrity of results.
Action oriented - Taking on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm.
Collaborates - Building partnerships and working collaboratively with others to meet shared objectives.
Communicates effectively - Developing and delivering multi-mode communications that convey a clear understanding of the unique needs of different audiences.
Self-development - Actively seeking new ways to grow and be challenged using both formal and informal development channels.
Education, Licenses, Certifications
University, or equivalent degree in Accounting, Finance or related field required. Progress toward Certified Public Accountant, Certified Management Accountant, Chartered Accountant or similar certification preferred.
Intermediate level of relevant professional work experience (4 plus years) in the field of study required.
• Business partner with supply chain, ECC and other functions to ensure timely actions and seamless product costing
• Inventory reporting, monitoring, and variation analysis
• Responsible for inventory-related month end and quarter end accounting journal entries, provisions and reconciliations; including E&O and FIFO analysis
• Perform complex analysis of product cost changes to ensure accuracy (routine, month end, forecast, reporting, and AOP)
• Coach and lead AP technician
• Lead the Annual Physical Inventory. This includes analyzing and reporting any variances to leaders of the business.
Compensation and Benefits
Base salary rate commensurate with experience. Additional benefits vary between locations and include options such as our 401(k) Retirement Savings Plan, Cash Balance Pension Plan, Medical/Dental/Life Insurance, Health Savings Account, Domestic Partners Coverage and a full complement of personal and professional benefits.
Cummins and E-verify
At Cummins, we are an equal opportunity and affirmative action employer dedicated to diversity in the workplace. Our policy is to provide equal employment opportunities to all qualified persons without regard to race, gender, color, disability, national origin, age, religion, union affiliation, sexual orientation, veteran status, citizenship, gender identity and/or expression, or other status protected by law. Cummins validates right to work using E-Verify. Cummins will provide the Social Security Administration (SSA) and, if necessary, the Department of Homeland Security (DHS), with information from each new employee’s Form I-9 to confirm work authorization.
Ready to think beyond your desk? Apply for this opportunity to start your career with Cummins today. careers.cummins.com
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