Develop and maintain part cost standards by utilizing data gathered from the production processes throughout all product lines. Track cost performance to standard using Oracle database information and determine financial cost impact. Prepare financial cost reports by operation and plant as requested. Be able to travel to offsite locations, including international locations to develop or revise current cost standards. Lead other plant locations in standard setting and financial cost analysis. Make recommendations for efficiency and cost improvements based on analysis and work directly with Production to implement improvements.
Sr. Financial Analyst
Duties and Responsibilities:
Gather data from the production process and develop cost standards for labor material and overhead by part size, product line and process.
Lead all plant locations on AIMS system in standard setting and travel to offsite locations requiring assistance as necessary.
Monitor cost standard performance to make sure costs are in line with budget cost parameters and revise if necessary.
Provide management with cost estimates for new products and provide the cost impact for changes to existing processes or process locations.
Make recommendations for efficiency improvements and cost reductions based on analysis and work directly with Production management and process engineers to implement improvements and reduce costs.
Annually update cost standards on mainframe for product routings, wage and OH rates, material usages and direct labor hours/k by operation and product line.
Provide financial cost analysis of performance to standard and recommend actions to eliminate any discrepancies.
Assist the Cost Accounting group as needed with cost analysis and with cost related activities during month end close.
Establish documentation on how to perform all cost development activities.
Bachelor’s Degree in Accounting, plus 1-4 years’ experience in product cost development or cost accounting experience in manufacturing required
Computer skills: Strong knowledge of Excel including pivot table creation. Ability to take data gathered for part cost development and place onto a spreadsheet in logical sequence. Prefer experience with Oracle database systems.
Analytical skills: strong math and analytical skills with working knowledge of basic arithmetic, negative numbers, decimals and fractions, algebra and basic statistics.
Verbal/communication: able to read and understand technical reports, process specifications, and office correspondence. Able to write clear and understandable memos and reports.
Strong working knowledge of standard cost development
Aptitude for understanding and determining man-machine assignments
Understanding of process flows and line balancing
Aptitude for troubleshooting and ability to obtain expertise in the production of electronic components
Knowledge of time study methods to determine operator standard hours/k and machine capacity