Associate Director, Cost Accounting

Key Responsibilities

• Lead cost accounting functions, including the preparation, analysis, and reporting of standard costs, inventory valuation, and manufacturing variances.
• Oversee the preparation of cost of goods sold (COGS) calculations, inventory reconciliation, and the establishment of standard costs for products and services.
• Review and analyze monthly, quarterly, and annual cost performance, ensuring accuracy and identifying opportunities for cost optimization.
• Develop, prepare, and present cost reports and analysis to senior leadership, highlighting key cost drivers and trends.
• Monitor and analyze manufacturing costs, variances, and product margins, and provide recommendations to improve profitability.
• Assist in the preparation of annual budgets and forecasts, with an emphasis on cost projections and margin optimization.
• Lead initiatives to improve cost accounting systems, tools, and processes, driving greater accuracy, automation, and efficiency in cost tracking and reporting.
• Develop cost models and simulations to assess the financial impact of production decisions, such as changes in raw materials, labor costs, and production volumes.
• Oversee inventory valuation, ensuring compliance with industry standards and company policies.
• Ensure accurate reconciliation of inventory balances and provide guidance on inventory management best practices.
• Ensure the team's adherence to deadlines and high-quality standards in financial reporting and cost analysis.
• Collaborate with cross-functional teams to provide financial insights and drive cost optimization strategies.
• Ensure that cost accounting practices adhere to Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), and company-specific policies.
• Maintain strong internal controls to ensure the accuracy and integrity of cost accounting data.
• Support internal and external audits by providing required documentation and explanations of cost-related processes.
• Ensure cost accounting methods and reporting are in compliance with industry regulations and standards, such as those set by the FDA and other governing bodies.
• Perform such other duties as may be assigned to you from time to time.

Qualifications

• Bachelor's degree in Accounting, Finance, Business Administration, or a related field. A Master’s degree or CPA (Certified Public Accountant) is preferred.
• Minimum of 8–10 years of experience in cost accounting or financial management, preferably within the Life Sciences, pharmaceutical, or biotechnology sectors.
• At least 3–5 years of experience in a managerial or supervisory role, leading a team of cost accountants or finance professionals.
• Extensive experience with cost accounting systems, ERP software (SAP, Oracle, etc.), and data analysis tools (Excel, Power BI, etc.).
• Strong knowledge of cost accounting principles, inventory management, and financial analysis.
• In-depth understanding of manufacturing cost structures, labor costing, and overhead allocation.
• Ability to manage complex financial models and cost systems.
• Excellent communication and interpersonal skills, with the ability to collaborate across departments and present financial information to non-financial stakeholders.
• Strong problem-solving skills and the ability to drive process improvements.
• Ability to work under pressure and meet tight deadlines.