D1b88ac3

Cost Accountant

  • Location:

    Baghdad, Iraq

  • Sector:

    FMCG

  • Contact:

    Steve Al-Bazy

  • Job ref:

    2162

  • Published:

    about 1 month ago

  • Expiry date:

    2021-04-14

MSELECT is looking to hire a Cost Accountant for an industrial and distribution group in Baghdad. Candidates must have a minimum of 4 years of experience in the field of finance in manufacturing Companies. Fluency in English and Arabic is a must.

Role Purpose

  • Ensuring a robust control environment including strong financial cost management, timely and accurate financial performance reporting and the provision of “world class” analysis and insight which enables effective problem solving to maximize financial performance
  • Oversee the accuracy of product costing data with comprehensive and transparent variance analysis
  • Manage Audit - both Internal & External
  • Capex Management - Analyze factory cap-ex requests with payback/NPV/ROI

Key responsibilities

1 Financial analysis

  • Standard product costing - Responsible for ensuring accurate product costing with comprehensive and transparent financial explanations of variances to standard/budget vs actual to drive continual financial improvement
  • Month end and periodical review of Balance Sheet and ensure the accuracy of individual items
  • Financial analysis - Prepare and analyze periodic manufacturing costs and other key financial data, providing thorough explanations of key variances and projected financial impacts of key trends and potential scenarios communicating effectively to both operational departments and corporate management
  • GFS (General Factory Stocks - packaging, ingredients, consumables etc.) - ensure there are sufficient controls and procedures in place to warrant that stocks and usages are accurate, security of assets is adequate together with variance reporting

KPIs

  • Accuracy of Standard Cost in Mfg/Pro (This must tie-up with the approved Budget)
  • The schedule of  RM/PM inventory price variance to be maintained by item
  • Inventory accuracy in the WH - By enforcing cycle /annual stock count

2 Reporting 

  • Manage/prepare periodic financial reports to tight deadlines by analyzing and articulating insightful information on variances:
  • By Line of production
  • By Product
  • In total by Materials
  • Responsible for owning the budgeted COP report, reforecast process and the other routine costing reports in alignment with corporate requirements
  • Ensure effective cost control in accordance with approved budgets

KPIs

  • Corporate timeline on submission of monthly reports to be followed

3 Compliance

  • Inventory - Responsible for partnering with operations to ensure timely closure of work orders resolving any issues as they arise via effective proactive communication
  • Physical inventory verification - Guide the team to ensure (a) the accuracy of physical inventory counts and (b) timely update of system inventories immediately after the approval
  • Responsible for owning financial data integrity and accuracy for inventory and BOM related financial data, highlighting issues and opportunities
  • Process improvement - Actively assist in driving financial process improvement and standardization of policies and practices
  • Oversee the accurate and timely monthly and annual financial close
  • Manage the Site cap-ex from CRF to Capitalization
  • Manage effective communication with internal and external audits for ASDI manufacturing, including timely delivery of statutory financial statements

KPIs

  • Daily W/O Closure
  • Inventory accuracy in the WH - By enforcing cycle /annual stock count
  • Respect the Corporate/Factory timelines
  • Manage Audit in tandem with the

4 Process improvement

  • Process improvement - Actively assist in driving financial process improvement and standardization of policies and practices

KPIs

  • Automation of reports

Qualification, Experience and Skills

  • Degree -  Commerce or Accounting - Required
  • Recognized professional management accounting qualification, (CIMA/ICWA/CA)
  • Accounting experience – 4-5 years’ experience in the field of finance of which a minimum of 3 years relates to costing activities of manufacturing Companies
  • Manufacturing finance experience - ‘’Hands on” standard costing and analysis experience in a dynamic, manufacturing finance function
  • Financial control - Good awareness of control risk and experience in enhancing internal controls to safeguard assets and liabilities
  • Reporting and analysis - Experience in reporting and analyzing financial information and communicating effectively to non-finance colleagues
  • Liaise with auditors - Both internal & External
  • Demonstrable ability to liaise effectively and build communication channels with colleagues across the organization and promote effective communication to enhance organizational efficiency
  • Experience in driving process improvement in accurate data capture
  • Demonstrable “hands on” problem solving ability in multi-cultural dynamic environments
  • IT literate – Good knowledge of excel and experience in finance and project control related modules of ERP systems
  • Development potential - Ability and desire to grow and develop within the finance team to undertake and successfully deliver challenging assignments

Competencies

  • Personal: Structured, proactive driven individual who is comfortable operating at all levels with drive to solve issues as they arise and timely deliver an effective contribution to the group in a multi-cultural and challenging environment
  • Self-starter: Ability to operate effectively with minimum supervision and a positive attitude
  • Analytical: Ability to analyze financial data and challenge to yield cost benefit
  • Teamwork - Ability to contribute with cross functional teams and to develop financial and risk awareness across the organization
  • Excellent communication and interpersonal skills
  • Results driven

*Only applicants meeting the strict criteria outlined above will be contacted as part of the shortlisting process