Specialist - Product Costing

Al Ghurair


Date: 2 weeks ago
City: Dubai
Contract type: Full time
Job Description

Support Financial Strategy Execution

  • Contribute to the implementation of financial strategies aligned with business objectives, ensuring operational cost efficiency and operational efficiency targets.

Product Costing & Inventory Valuation

  • Maintain and validate standard costs, BOM's, routings, and overhead absorption rates
  • Perform monthly inventory valuation, reserves, and slow moving/obsolete stock analysis
  • Reconcile inventory sub ledgers to GL and investigate valuation differences
  • Ensure costing accuracy across plants, warehouses, and SKU's
  • Driving and maintaining Activity-Based Costing (ABC) through close coordination with plant operations and cross-functional teams for accurate cost allocation and timely decision-making.

Cost Control & Variance Analysis

  • Track Product cost (RM, Bulk SKU's, additives & discrete inventory items, etc.)
  • Analyze price, volume, mix, efficiency, and yield variances with root cause commentary
  • Partner with operations to identify cost reduction and productivity opportunities
  • Monitor savings initiatives and validate financial impact
  • Prepare actionable variance dashboards for management review
  • Develop and track key financial KPIs (conversion cost, yield, wastage, inventory holding, etc.) and support leadership with actionable insights for performance management.

Budgeting, Forecasting & Performance Analysis

  • Support annual budget and rolling forecast cycles for operations finance (Variable & Fixed cost)
  • Update & Analise actuals vs. budget/forecast and highlight risks and opportunities
  • Develop scenario and sensitivity analyses to support decision making
  • Ensure alignment between operational plans and financial targets

Operational Support

  • Act as finance business partner to supply chain, manufacturing, and commercial teams
  • Support pricing, margin analysis, and customer/product profitability reviews
  • Support system setup for new units and establish end-to-end operational and process flows & identify and monitor inventory risks; implement appropriate controls during stabilization.
  • Translate operational performance into financial outcomes for stakeholders
  • Act as a finance business partner to plant operations, supply chain, and procurement teams to drive data-driven decision-making and performance improvement.
  • Identify and recommend improvements in financial processes, systems, and reporting frameworks to enhance efficiency, accuracy, and scalability.

Systems, Controls, Risk, Audit & Compliance

  • Ensure adherence to internal controls, accounting policies, and SOP's
  • Support internal and external audits, including documentation and issue resolution
  • Maintain and improve costing, planning, and reporting systems (e.g., ERP, BI tools)
  • Identify control gaps, process inefficiencies, and automation opportunities
  • Conduct periodic physical counts and cycle counts with variance analysis and adjustment.
  • Ensure compliance with IFRS/local regulations related to inventory and costing
  • Support the development and strengthening of internal controls across operational finance processes to mitigate financial and operational risks.

Data & Analytics Support

  • Leverage financial and operational data to provide advanced insights (variance analysis, trend analysis, scenario modeling) supporting strategic decisions.

Month End Closing, Reporting & Management Information

  • Execute timely month end close activities reconciliation, related to COGS, inventory, and provisions, etc.
  • Prepare management reports, KPI's, and dashboards with clear insights
  • Ensure accuracy, completeness, and consistency of reported
  • Provide variance explanations and executive level commentary
  • Prepare & Support ADHOC, monthly and annual financial reporting requirements

Cross-functional Alignment

  • Ensure alignment between finance, operations, supply chain, and commercial teams to achieve overall business targets and operational excellence.

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