Job Description of:Factory Cost Accountant
Responsible To: General Manager Finance
Scope of Position:Overall responsibility for analyzing Factory Financials/ KPIs of factory and implementation, monitoring and controlling of processes and procedures of factory related finance.
Co-ordinate with:Finance team, Supply chain and other departments of the company.
Supervise: Directly: General Manager Finance
Indirectly : CFO
Competencies:Good communication skills, knowledge of Accounting Standard, taxation and government regulation, Good public relations skills etc. Should be able to work at minimum supervision and good organiser. Able to be flexible in order to attend to numerous requests and operational matters and able & willing to do extra work where necessary for day to day operation.
Skills and Qualifications
- A Bachelor’s degree in Management Accounting or Finance.
- Thorough understanding of Management Accounting/ Costing/ Pricing. Knowledge of factory and management accounting principles.
- Must have extremely strong MS Excel skills
- 3 – 5 years’ relevant experience in a Supply Chain Finance role.
- Strong organizational skills and attention to detail
- Ability to multi-task and work in a challenging fast paced environment
- Excellent written and verbal communication skills
- Maturity, professionalism, and high level of discretion are required
- Knowledge of procedural controls and data validation techniques required
- Strong work ethic with a positive, can-do attitude
- Independent worker and analytical thinker with ability to conduct research, data analysis and resolve complex problems
- Strong presence with the ability to interact with Senior Leadership.
- Financial modeling expertise a plus
- Placement in Sentul (Kawasan Industri Sentul)
- Provide accurate and relevant business insights by analysing available info using designated best practice tools
- Drive and Coordinate the forecasting process to help the business make reliable decisions, includes budget, financial forecasts, etc
- Support Trade Working Capital delivery through analysis tools
- Drive optimal return on investments by driving focus on Capital Expenditure Proposals with Business Cases that meet the required benchmarks
- Guide and support the delivery of key projects/capex in the factory
- Report on monthly variances giving key insight in what areas need focus and where factory performance was not great.
- Ensure variance analysis on major stock losses as well as usage variances. Drive delivery of controllable costs as a % of turnover
- Deliver the business waste reduction programme for factory
- Review, challenge and monitor all Capital Expenditure proposals (CEP) per the annual budget.
- Drive Ops to deliver the R/ton expectations, plus the savings on Supply Chain Indirects.
- Drive alignment of benchmark costs and efficiencies across Sourcing Units.
- Responsible for reviewing product and factory profitability including analysis of customer profitability, sales, market segments, discounts, competitor (product cost), GP mix and sales mix.
- Closely monitoring factory KPIs such as productivity, equipment efficiency (OEE), utilization, labour efficiency, material wastage, production targets, budgeted expense variances etc. The major variances were reviewed and recommendations were presented to production team with frequent follow up.
- Responsible for preparation and presentation of monthly factory performance to senior management team inclusive of factory KPI, potential investments review and make recommendations for improvements.
- Responsible for product and order costing, pricing (local and export market), target costing/ pricing and calculation of export duty free costing. Liaised with marketing, production, Purchasing, quality and other operational departments in provision of accurate costing.
- Periodically review production efficiency standards (including bill of materials and routings) and highlighted high variances.
- Ascertaining the impact of exchange rates, supplier price fluctuations, material/ process changes, R&D and forecasting future prices.
- Prepare and present variance analysis relating to production/ overhead budgets, orders, material, overhead and ensured the factory overheads are absorbed as per the plan (review the absorption variances).
- Organized and responsible for annual (factory) inventory counts and analyzing inventory variances. On weekly basis he presented the stock aging with identification of slow moving, non-moving, potential non-moving, stock days and stock level analysis.
- Evaluated and approved the financial and non-financial impact of outsource decisions/ payments, material write-off, change of material (alternative material) and cost estimates.