Cost Optimization Specialist

2 days ago


AlUrayja Municipality, Saudi Arabia Etoile - Full time

Job Overview

Etoile - is a leading company in the food manufacturing sector, and we are seeking a highly skilled Cost Optimization Specialist to join our team. As a key member of our finance department, you will be responsible for overseeing the financial performance of our company.

Key Responsibilities:

  1. Gather and Analyze Financial Data: Gather and analyze financial data to identify trends, opportunities, and areas for cost reduction.
  2. Determine Standard Costs and Investigate Variances: Determine standard costs and investigate variances with actual costs to ensure accurate financial reporting.
  3. Prepare Detailed Reports: Prepare detailed reports on financial performance, including periodic and ad-hoc reports, to support business decision-making.
  4. Help Management Make Decisions: Work closely with management to provide financial insights and recommendations to inform strategic decisions.
  5. Create and Manage Budgets: Create and manage budgets, including forecasting and monitoring spending, to ensure financial goals are met.
  6. Conduct Audits: Conduct audits on financial processes and transactions to ensure accuracy and compliance.
  7. Monitor Changes in Processes: Monitor changes in processes or methods to calculate their effects on overall costs.
  8. Estimate Product Costs: Estimate product costs for existing and new products to ensure accurate pricing and profitability.
  9. Forecast and Analyze Costs: Forecast and analyze costs of processes, labor, and inventory to identify areas for improvement.
  10. Suggest Cost-Reducing Solutions: Suggest cost-reducing solutions and implement changes to improve financial performance.
  11. Conduct Market Research: Conduct market research to support future business planning and strategy.

Requirements:

  • Bachelor's Degree: A bachelor's degree in Accounting, Finance, or a related field is required.
  • Experience: A minimum of 7 years of experience in a similar cost management position is required.
  • Advanced Knowledge: Advanced knowledge of ERP systems and financial analysis software is essential.
  • Analytical Skills: Strong analytical skills and attention to detail are necessary for this role.
  • Communication Skills: The ability to communicate effectively with various teams is critical.
  • Data Analysis: Experience in data, operational, and financial analysis is required.
  • Accounting Knowledge: Knowledge of accounting processes and software is essential.
  • Business Acumen: A strong business acumen is necessary for success in this role.


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