Cost Accountant - Snr

Are you an analytical, value-driven Cost Accounting professional passionate about cost optimization, project budgeting, financial controls, and variance analysis? Do you have strong expertise in construction cost engineering/cost accounting and a proven track record managing project budgets within large-scale developments? Who are we? ALEC Holdings PJSC, part of the Investment Corporation of ICD (ICD), is a leading GCC construction group with over two decades of success delivering some of the region’s most complex and high-profile projects. As a proudly publicly listed company, ALEC continues to raise the bar for quality, innovation, and excellence in construction, driving iconic developments that shape skylines across the Middle East. In the UAE, ALEC has delivered many of the nation’s most iconic developments, operating as a fully integrated contractor through specialist business units that provide end-to-end construction solutions. ALEC provides strategic leadership, operational oversight, and shared services that support the performance and growth of all businesses within the Group. From governance, finance, and talent to innovation, digital systems, and sustainability, the Head Office acts as the central hub that enables each business unit to deliver with confidence, consistency, and excellence across the construction and engineering value chain. Why Join Us? As a Senior Cost Accountant at ALEC, you will play a vital role in maintaining precise cost controls, monitoring project profitability, and evaluating financial exposure across our site and corporate operations. Your financial analysis will provide actionable insights to site management and project directors, driving cost efficiency without compromising on quality or safety. At ALEC, we’re about more than just building iconic structures, we’re about building exceptional careers. As a trusted partner to some of the region’s most ambitious projects, we value integrity, operational excellence, and our people. Join us to make a direct impact on project performance, commercial strategy, and our bottom-line success. About Your Team Our Cost Control team bridges financial oversight and factory operations. Working closely with Production, Procurement, Supply Chain, Commercial, and Head Office Finance, the team ensures accurate product costing, precise inventory valuation, and real-time operational analysis. We are committed to maintaining data integrity across BOMs, monitoring production variances, and driving cost-reduction initiatives to protect margins and optimize manufacturing performance. Your Role Cost Accounting & Product Costing Develop, maintain and review standard and actual costing for manufactured products. Maintain and validate Bill of Materials (BOMs), routings, labour rates and manufacturing overhead rates. Analyse material, labour and manufacturing overhead costs and identify key cost drivers. Perform detailed production cost and variance analysis, including: • Material price and usage variances • Labour rate and efficiency variances • Production volume and yield variances • Manufacturing overhead absorption and under/over-absorption • Scrap, wastage and rework variances Review product and project profitability and highlight margin risks to management. Support pricing decisions through accurate product cost information and margin analysis. Inventory & Manufacturing Controls • Ensure accurate valuation of raw materials, work-in-progress and finished goods in accordance with applicable accounting standards. • Review inventory movements, consumption and production postings for accuracy. • Monitor slow-moving, obsolete and excess inventory and support appropriate provisions. • Reconcile inventory sub-ledgers to the general ledger and investigate discrepancies. • Work with Production and Operations to improve inventory accuracy and manufacturing controls. • Review production orders and ensure costs are correctly captured against the relevant products/projects. Budgeting, Forecasting & Performance Analysis • Support the preparation of manufacturing budgets, forecasts and long-term financial plans. • Analyse actual manufacturing performance against budget, forecast and standard costs. • Prepare monthly management reports covering production costs, gross margins, cost variances and operational KPIs. • Develop financial analysis to support production planning, capacity utilisation and cost-reduction initiatives. • Assist in scenario modelling and business cases for new products, production lines, machinery and manufacturing initiatives. Finance Business Partnering • Partner with Production, Procurement, Supply Chain and Commercial teams to improve cost visibility and profitability. • Challenge operational assumptions and provide actionable financial insights. • Identify opportunities for cost reduction, productivity improvement and margin enhancement. • Support management with ad-hoc commercial and financial analysis. • Systems & Process Improvement • Ensure costing structures within the ERP system accurately reflect manufacturing processes. • Review and improve costing methodologies, BOM structures, inventory processes and production accounting. • Participate in ERP implementations, system enhancements and process improvements. • Establish robust controls around manufacturing master data and cost accounting processes. What We’re Looking For Qualifications & Experience • Minimum 5 years of relevant cost accounting experience, with significant experience in a manufacturing environment. • Manufacturing experience is mandatory. • A bachelor’s degree along with a professional qualification such as CIMA, CMA or equivalent is required. • Strong understanding of standard costing, absorption costing and variance analysis. • Proven experience with BOMs, product costing, inventory valuation and manufacturing overhead allocation. • Strong understanding of raw materials, labour and manufacturing overhead cost structures and how it flows through an accounting system. • Experience working with ERP systems and manufacturing costing modules. • Strong Excel and financial modelling skills. • Ability to analyse large volumes of financial and operational data and translate findings into meaningful business insights. • Strong communication and stakeholder-management skills. Key Competencies • Strong technical cost accounting capability • Commercially minded with a focus on profitability • Analytical and detail-oriented • Strong understanding of manufacturing operations • Ability to challenge operational costs and assumptions • Excellent problem-solving skills • Strong Excel and ERP capability • Able to work independently and manage deadlines • Effective communication with both Finance and non-Finance stakeholders • Strong understanding of the relationship between production activity, cost behaviour and financial performance

Minimum 5 years of relevant cost accounting experience, with significant experience in a manufacturing environment. Manufacturing experience is mandatory. A bachelor’s degree along with a professional qualification such as CIMA, CMA or equivalent is required. Strong understanding of standard costing, absorption costing and variance analysis. Proven experience with BOMs, product costing, inventory valuation and manufacturing overhead allocation. Strong understanding of raw materials, labour and manufacturing overhead cost structures and how it flows through an accounting system. Experience working with ERP systems and manufacturing costing modules. Strong Excel and financial modelling skills. Ability to analyse large volumes of financial and operational data and translate findings into meaningful business insights. Strong communication and stakeholder-management skills.

Cost Accounting & Product Costing: Develop, maintain and review standard and actual costing for manufactured products. Maintain and validate Bill of Materials (BOMs), routings, labour rates and manufacturing overhead rates. Analyse material, labour and manufacturing overhead costs and identify key cost drivers. Perform detailed production cost and variance analysis, including material price and usage variances, labour rate and efficiency variances, production volume and yield variances, manufacturing overhead absorption and under/over-absorption, scrap, wastage and rework variances. Review product and project profitability and highlight margin risks to management. Support pricing decisions through accurate product cost information and margin analysis. Inventory & Manufacturing Controls: Ensure accurate valuation of raw materials, work-in-progress and finished goods in accordance with applicable accounting standards. Review inventory movements, consumption and production postings for accuracy. Monitor slow-moving, obsolete and excess inventory and support appropriate provisions. Reconcile inventory sub-ledgers to the general ledger and investigate discrepancies. Work with Production and Operations to improve inventory accuracy and manufacturing controls. Review production orders and ensure costs are correctly captured against the relevant products/projects. Budgeting, Forecasting & Performance Analysis: Support the preparation of manufacturing budgets, forecasts and long-term financial plans. Analyse actual manufacturing performance against budget, forecast and standard costs. Prepare monthly management reports covering production costs, gross margins, cost variances and operational KPIs. Develop financial analysis to support production planning, capacity utilisation and cost-reduction initiatives. Assist in scenario modelling and business cases for new products, production lines, machinery and manufacturing initiatives. Finance Business Partnering: Partner with Production, Procurement, Supply Chain and Commercial teams to improve cost visibility and profitability. Challenge operational assumptions and provide actionable financial insights. Identify opportunities for cost reduction, productivity improvement and margin enhancement. Support management with ad-hoc commercial and financial analysis. Systems & Process Improvement: Ensure costing structures within the ERP system accurately reflect manufacturing processes. Review and improve costing methodologies, BOM structures, inventory processes and production accounting. Participate in ERP implementations, system enhancements and process improvements. Establish robust controls around manufacturing master data and cost accounting processes.