Job Overview

The Financial Planning and Analysis is responsible for monitoring, analyzing, and controlling the cost of production activities within a manufacturing environment. This role involves evaluating production costs, identifying cost-saving opportunities, and ensuring that cost management practices are in line with company financial goals. The Financial Planning and Analysis collaborates closely with production, finance, and other departments to optimize cost eƯiciency while maintaining product quality.

Job Requirements

1. Cost Analysis & Control:
- Monitor and track production costs, including raw materials, labor, overheads, and other expenses.
- Perform detailed cost analysis for each production process, identifying areas of cost savings and efficiency improvements.
- Prepare periodic cost reports to assess the financial performance of the production department. 

2. Budgeting & Forecasting:
- Assist in the development of annual production budgets, ensuring they align with company financial targets.
- Support forecasting activities to predict production costs, considering market trends and production needs.
- Monitor actual costs against budgets and highlight any variances.

3. Cost Allocation & Reporting:
- Allocate production costs accurately across departments, ensuring proper cost tracking.
- Prepare and present regular cost reports and KPI (Key Performance Indicator) analysis to management.
- Develop cost dashboards for management, ensuring clear and concise reporting.

4. Inventory and CAPEX Management:                                                                                            - - Oversee inventory valuation and CAPEX management and ensure accurate calculations.
- Work with the proc team to ensure the eƯicient purchase of raw materials and minimize excess inventory.                                                                                                                                            - Identify and resolve discrepancies in inventory cost records.
5. Process Improvement:
- Recommend process improvements to reduce costs while maintaining or improving product quality.
- Collaborate with production teams to implement lean manufacturing techniques and cost-saving initiatives. 
6. Compliance & Internal Controls:
- Ensure that cost control processes adhere to internal controls, policies, and regulatory requirements.
- Maintain accurate cost-related records and support audit activities when required.
7. Collaboration & Support:
- Work closely with the production team, engineers, and supply chain to gather cost data and feedback for analysis.
- Provide financial and cost-related support to management for decision-making purposes.

What your background should look like

• Bachelor's degree in Accounting, Finance, or a related field.                                                   
• Proven experience in cost control, budgeting, and financial analysis in a manufacturing environment.
• Strong analytical and problem-solving skills.
• Proficiency in MS Excel and financial software (e.g., SAP, Oracle).
• Knowledge of manufacturing processes and cost structures.
• Excellent communication skills (including English) and the ability to collaborate with cross-functional teams.

Preferred Skills:
- Experience with Lean Manufacturing or Six Sigma principles.
- Advanced certification in cost control or fanciable analysis (e.g., CMA, CPA). 
- Familiarity with production planning and inventory management systems.

Competencies