Cost Manager

SUMMARY:
We are seeking an experienced and meticulous Cost Manager to lead our costing function within a manufacturing environment.
This key role involves ensuring product costing accuracy, full overhead recovery, and transparent cost reporting across the company.
The successful candidate will manage all aspects of the costing lifecycle, from Bill of Materials (BOM) costing to overhead allocation, and act as the bridge between finance and operations.
Strong business acumen and excellent collaboration skills are essential, as the role requires interpreting cost data and influencing strategic decisions while working closely with Production, Finance, Technical, and Quality teams.
Regular engagement with senior and C-suite leadership to provide insights that drive profitability and efficiency improvements is also a critical aspect of this role.

POSITION INFO:
Minimum requirements:

• BCom in Management Accounting or BCom Honours (or equivalent).
• A professional certification such as CIMA is a strong advantage.
• At least 8 years of experience in manufacturing costing or cost accounting as a cost manager.
• Expertise in standard costing, variance analysis, and overhead allocation is required.
• Experience in a multi-process manufacturing environment is beneficial.
• Hands-on experience with ERP systems for costing, preferably Microsoft Dynamics 365 Business Central or SAGE.
• Advanced Excel skills are essential.
• Familiarity with business intelligence tools (e.g., Power BI) is a plus.

• Business Acumen:
  • Strong commercial awareness and the ability to see the big-picture impact of costing decisions on profitability and strategy.
  • Proven track record of influencing decision-making through analysis.
• Analytical Skills:
  • Excellent analytical and problem-solving skills, capable of identifying discrepancies and summarising key takeaways.
  • Experience in translating complex data into actionable insights.
• Communication and Collaboration:
  • Exceptional written and verbal communication skills.
  • Ability to explain cost concepts to non-financial colleagues and collaborate effectively with cross-functional teams.
  • Experience presenting to senior management is highly valued.
• Leadership and Integrity:
  • Proven ability to lead or supervise others, even in a project or informal capacity.
  • High level of integrity and professionalism, handling sensitive cost data responsibly, and proactively managing responsibilities.

• Oversee the accurate calculation of product costs, maintaining up-to-date standard costs for all raw materials, components, and finished goods.
• Review and update BOMs and routing costs to reflect current production processes and pricing.
• Manage and monitor overhead cost allocation across different manufacturing processes.
• Govern various costing models to achieve 100% overhead recovery, continuously evaluating and recommending rate adjustments as needed.
• Analyse production cost variances, investigate root causes, and implement corrective actions.
• Provide monthly cost performance reports, translating findings into operational or pricing recommendations.
• Work closely with Production, Technical, Quality, and Finance teams to gather accurate data and improve cost accuracy.
• Coordinate on yield improvements, process changes, and scrap/rework costs, ensuring all departments understand their impact on product cost.
• Serve as the subject-matter expert for costing in the ERP system (Microsoft Dynamics 365 Business Central).
• Maintain accurate costing data, resolve system issues, develop useful cost reports, and safeguard data integrity.
• Collaborate with finance and sales teams on transfer prices and pricing strategies, providing reliable cost information and analysis.
• Support price list preparation with accurate cost and profitability analysis.
• Work with the inventory control team during stock counts to ensure accurate inventory valuation, reconcile variances, and oversee adjustments in the ERP.
• Prepare clear presentations on cost findings and improvement plans for senior leadership.
• Report directly to the Head of Controlling & Internal Audit and occasionally to the CFO/CEO on critical cost issues.
• Lead and mentor a small team of cost accountants/analysts, fostering a culture of accuracy, accountability, and continuous improvement.
• Refine costing methodologies and processes while staying updated with industry best practices and introducing relevant ideas to the organisation.
• Ensure costing practices align with internal control frameworks and external audit requirements.