Cost Analyst

Brilliant Financial Staffing has been engaged on the search for a Cost Analyst to join our client in the manufacturing industry on a contract to hire basis. Located in Schaumburg, IL the Cost Analyst will report to the Accounting Manager and work alongside a team of 6 individuals. The company is a large, well-established food manufacturer. The main responsibilities for this Cost Analyst will focus on reconciling various accounts, reviewing financial statements, and assisting with month end close. The ideal Cost Analyst will be able to begin immediately.

Responsibilities:

• Cost Analysis: Analyze production and operational costs, including labor, materials, and overhead, to identify inefficiencies and areas for cost improvement.
• Budgeting & Forecasting: Collaborate with department heads to prepare budgets, forecast future financial trends, and assist in setting cost objectives.
• Cost Allocation: Oversee the allocation of costs to different products, departments, or projects, ensuring accurate financial reporting and profitability analysis.
• Variance Analysis: Perform variance analysis between actual and budgeted costs and investigate discrepancies to provide recommendations for corrections.
• Reporting: Prepare detailed cost analysis reports, including cost breakdowns and trends, and present findings to management for strategic decision-making.
• Inventory Management: Work with operations leadership, plant management and inventory control teams to report on inventory coverages, inventory trends, excess and obsolescence and inventory accuracy.
• Process Improvement: Identify inefficiencies in production or operational processes and suggest improvements to reduce costs and enhance efficiency.
• Data Management: Maintain and update financial data in cost accounting systems, ensuring data accuracy and compliance with internal and external reporting requirements.
• Collaboration: Work cross-functionally with operations, procurement, and finance teams to gather relevant data and support continuous improvement initiatives.
• Compliance: Ensure that cost analysis practices adhere to industry standards, corporate policies, and regulatory requirements.

Qualifications:

• Excel: Must be comfortable working in Excel daily, (Creating v-lookups and pivot tables)
• Degree in Accounting/Finance is required
• Systems: SAP or Great Plains