Cost accounting manager

JOB OBJECTIVES

• Reporting directly to the Chief Financial Officer (CFO), the Cost Accounting Manager is responsible for establishing, monitoring, and analyzing the manufacturing costs of pharmaceutical products.
• The role plays a key part in evaluating product profitability, analyzing manufacturing variances, valuing inventory, and improving the financial performance of manufacturing operations.
• The Cost Accounting Manager works closely with the Production, Planning, Procurement, Quality, and Finance teams to ensure cost accuracy and support operational decision-making.
• This position does not involve direct employee supervision.

PRIMARY FUNCTIONS

Cost Accounting Management

• Establish, maintain, and review standard costs for raw materials, packaging components, labor, and manufacturing overhead.
• Perform periodic updates of standard costs in the ERP system
• Analyze actual manufacturing costs by product, batch, and production line.
• Participate in establishing manufacturing overhead absorption rates
• Analyze costs associated with new products and changes to manufacturing processes.

Manufacturing Variance Analysis

• Analyze variances between standard costs and actual manufacturing costs.
• Identify variances related to material consumption, manufacturing yields, labor, and overhead expenses.
• Assess the financial impact of rejected batches, material losses, rework, and product destruction.
• Collaborate with Production teams to identify the root causes of variances and recommend corrective actions.
• Develop key performance indicators (KPIs) to monitor manufacturing financial performance.
• Prepare profitability analyses by product, product family, or production line.

Inventory Management and Valuation

• Ensure accurate valuation of raw materials, work-in-progress (WIP), and finished goods inventories.
• Analyze inventory adjustments and their financial impact.
• Perform analyses and recommend provisions for obsolete, expired, or at-risk inventory.
• Collaborate with Planning and Procurement teams to identify financial risks associated with inventory levels.
• Contribute to improving inventory control processes and procedures.

Financial Closing and Management Reporting

• Prepare monthly analyses of manufacturing costs and production variances.
• Perform account reconciliations related to inventory and manufacturing costs.
• Participate in monthly and annual financial closing activities.
• Provide financial analyses to support budgeting and forecasting processes.
• Prepare supporting documentation required for internal and external audits.
• Ensure cost accounting practices comply with the company's financial policies.