Senior Costing Accountant

Job description: Job Purpose To perform product costing, manufacturing cost accounting, inventory valuation, and cost analysis while supporting accurate financial reporting, cost control, and informed operational decision-making in accordance with company policies and accounting standards. Key Accountability Areas Product Costing & Manufacturing Cost Control: • Own product costing activities for assigned manufacturing operations, ensuring the accuracy of standard costs, Bills of Materials (BOMs), routings, labor rates, and overhead allocations. • Perform standard cost roll-ups and periodic cost reviews to ensure costing reflects current manufacturing conditions. • Analyze actual manufacturing costs against standard costs and investigate cost variances. • Review cost absorption, material usage, labor efficiency, scrap, rework, and production overheads to ensure accurate product costing. • Support cost reduction initiatives by identifying opportunities to improve manufacturing efficiency and cost performance. Inventory Accounting & Financial Reporting: • Manage inventory valuation, work-in-progress (WIP), production order settlements, and manufacturing-related inventory accounting. • Review material consumption, inventory movements, stock adjustments, and investigate abnormal inventory transactions. • Support month-end and year-end closing activities related to manufacturing costs, inventory, cost centers, and production variances. • Prepare manufacturing cost reports, inventory reconciliations, and financial analyses for management reporting. • Ensure timely and accurate reporting of manufacturing financial results in accordance with company policies and accounting standards. Cost Analysis, Budgeting & Performance Monitoring: • Perform detailed variance analysis for material, labor, overhead, purchase price, scrap, rework, and production efficiency. • Assist in the preparation of annual budgets, forecasts, and manufacturing cost plans. • Monitor actual manufacturing costs against budgets and forecasts, highlighting financial risks and recommending corrective actions. • Support profitability analysis, cost-saving initiatives, and operational performance improvement projects. • Provide meaningful financial insights to support production planning, capacity utilization, and operational decision-making. Manufacturing Finance Support & Business Partnering: • Partner with production, warehouse, procurement, planning, engineering, and quality teams to improve cost visibility and operational performance. • Provide financial analysis and costing support for new products, process improvements, and operational initiatives. • Support management by explaining manufacturing cost movements, operational variances, and financial impacts. • Collaborate with cross-functional teams to improve inventory accuracy, production reporting, and cost management practices. • Contribute to continuous improvement initiatives aimed at enhancing manufacturing efficiency and financial performance. Internal Controls, Compliance & Continuous Improvement: • Ensure compliance with company policies, accounting standards, and internal controls related to manufacturing costing and inventory. • Maintain accurate documentation for costing calculations, reconciliations, inventory adjustments, and financial analyses. • Support internal and external audits, inventory counts, and cost audit requirements. • Review and improve costing procedures, reconciliations, and financial reporting processes to strengthen operational controls. • Identify opportunities to automate reporting, improve data accuracy, and enhance manufacturing finance processes through continuous improvement. Role Accountability HR Proficiency: • Ability to obtain updated soft and technical skills related to the job. Delivery: • Perform the planned activities to meet the operational and development targets as per delivery schedules. • Utilize resources effectively to achieve objectives within efficient cost and time. • Provide a periodic report formatted by detailing the deviation and execution of planned tasks. Problem-Solving: • Solve any related problems arise and escalate any complex operational issues. Quality: • Ensure quality requirements to develop effective quality control and processes including specifications for products or processes or related activities. Business Process Improvements: • Coordinate well-defined written systems, policies, procedures, and seek automations opportunities as much as possible. Compliance: • Comply to related policy and procedures and work instructions. Health, Safety, and Environment: • Ensure compliance of relevant safety, quality, and environmental management procedures and controls within defined area of work activity to guarantee safety, legislative compliance, and delivery of high-quality products/services. Academic Qualification Bachelor Degree in Accounting and Finance or Any relevant field Work Experience 4 to 6 Years Technical / Functional Competencies Financial Accounting (FI) Reconciliation Financial Reporting Profile description: Alfanar is a Saudi company with an international presence, primarily engaged in the manufacturing and trading of a wide variety of low, medium, and high voltage electrical products, in addition to its portfolio of conventional and renewable energy solutions, oil and gas, water treatment, infrastructure, technical services, and digital solutions. The hub of alfanar’s manufacturing operations is Medinet alfanar Alsinaiya, a 700,000 square-meter complex located in Riyadh. The complex houses an array of ultra-modern manufacturing facilities and laboratories equipped with state-of-the-art technologies and staffed with highly skilled professionals. alfanar derives its success from its commitment to providing the highest quality standards to its customers, and the continuous development of its human capital, who alfanar considers its most valuable asset. With this in mind, alfanar promotes a proactive work environment where its employees are always valued, nurtured, and empowered to fuel their pride in being part of alfanar. For more information about alfanar, please visit alfanar.com Show more Show less

Bachelor Degree in Accounting and Finance or Any relevant field. 4 to 6 Years work experience. Financial Accounting (FI) Reconciliation, Financial Reporting.

Own product costing activities for assigned manufacturing operations, ensuring the accuracy of standard costs, Bills of Materials (BOMs), routings, labor rates, and overhead allocations. Perform standard cost roll-ups and periodic cost reviews to ensure costing reflects current manufacturing conditions. Analyze actual manufacturing costs against standard costs and investigate cost variances. Review cost absorption, material usage, labor efficiency, scrap, rework, and production overheads to ensure accurate product costing. Support cost reduction initiatives by identifying opportunities to improve manufacturing efficiency and cost performance. Manage inventory valuation, work-in-progress (WIP), production order settlements, and manufacturing-related inventory accounting. Review material consumption, inventory movements, stock adjustments, and investigate abnormal inventory transactions. Support month-end and year-end closing activities related to manufacturing costs, inventory, cost centers, and production variances. Prepare manufacturing cost reports, inventory reconciliations, and financial analyses for management reporting. Ensure timely and accurate reporting of manufacturing financial results in accordance with company policies and accounting standards. Perform detailed variance analysis for material, labor, overhead, purchase price, scrap, rework, and production efficiency. Assist in the preparation of annual budgets, forecasts, and manufacturing cost plans. Monitor actual manufacturing costs against budgets and forecasts, highlighting financial risks and recommending corrective actions. Support profitability analysis, cost-saving initiatives, and operational performance improvement projects. Provide meaningful financial insights to support production planning, capacity utilization, and operational decision-making. Partner with production, warehouse, procurement, planning, engineering, and quality teams to improve cost visibility and operational performance. Provide financial analysis and costing support for new products, process improvements, and operational initiatives. Support management by explaining manufacturing cost movements, operational variances, and financial impacts. Collaborate with cross-functional teams to improve inventory accuracy, production reporting, and cost management practices. Contribute to continuous improvement initiatives aimed at enhancing manufacturing efficiency and financial performance. Ensure compliance with company policies, accounting standards, and internal controls related to manufacturing costing and inventory. Maintain accurate documentation for costing calculations, reconciliations, inventory adjustments, and financial analyses. Support internal and external audits, inventory counts, and cost audit requirements. Review and improve costing procedures, reconciliations, and financial reporting processes to strengthen operational controls. Identify opportunities to automate reporting, improve data accuracy, and enhance manufacturing finance processes through continuous improvement.