The role of a Cost Analyst is to examine and manage the expenses of a company. These highly-analytical specialists study a company's costs and report analysis to management. Their main tasks include tracking project budgets, establishing product cost, and analyzing changes in company costs.
Cost Analyst Job Description Template:
Our company is searching for a highly-analytical and detail-orientated Cost Analyst to join our finance department. You will be responsible for preparing statements and reports, overseeing audit files, attending meetings to provide financial feedback, and training employees in cost management methods.
As the Cost Analyst, you will possess an in-depth knowledge of accounting and cost-management systems, as well as basic computer software. The successful candidate will also be an excellent communicator, with superb presentation and problem-solving skills.
- Recommend and direct changes in operating procedures to improve efficiencies in payment and procurement processes.
- When necessary, offer analytical support for departmental projects.
- Coordinate with management to ensure cost forecasting reports are consistently checked and applied.
- Monitor and document actual and estimate reports.
- Stay up-to-date on project budgets and project spending.
- Examine data to help with reducing cost in all operations.
- Analyze the market and identify opportunities for growth and potential risks.
- Contribute in developing yearly operation plans, budgets, and estimating new product costs, including economic analysis.
- Give suggestions for money-saving strategies.
- Bachelor’s degree in Finance, Business or relevant field.
- Between 3 – 5 years’ proven experience as an analyst in supply chain or finance.
- Excellent analytical, mathematical, and problem-solving abilities.
- Superb communication and presentation skills.
- Aptitude to succeed in a stressful and deadline oriented environment.
- Solid understanding of Information Systems and MS Excel.