Afordonz Consulting Limited - Our client specializes in facilities management and is seeking to recruit a suitably qualified candidate to fill the position below:
Job Title: Cost Analyst
Location: Lagos
Role Summary
Cost analysts evaluate expenses for an organization’s departments and projects
He digs into financial numbers, figuring out ways to reduce inefficiencies and decrease costs
He also keeps his eyes on the big picture to understand how markets are performing in their industry
He contributes to help secure their future. Cost analysts play a vital role in determining whether their company is ready for growth, whether it can invest in a new project, hire employees, or afford to stay in operation.
Duties and Responsibilities
Cost Analysis & Testing:
The cost analyst is responsible for running a large number of tests on company data
He will analyze these tests to offer specific answers to problems, such as the most profitable plan for a building project or the cost-effectiveness of current operational activities
He performs deep data analysis to complete a wide variety of mathematical solutions. His cost analysis includes potential pricing model changes, new business models, and more.
Market Analysis and Research:
The Cost analysts would carry out market research, keeping his eyes on the entire market, studying it deeply
He will use financial software to analyze and track organizational expenses
He will research the costs of fellow competitors.
Creating Cost Reduction Plans and Reports:
The cost analyst will crunch numbers, write reports, and provide suggestions for money-saving strategies, documenting his findings in written plans
His reports are essential to creating more cost-efficient processes within businesses
The data he provides can determine whether a business’s new undertaking is a yes or a no from a cost perspective.
Lead Cost Management Policy:
The cost analyst acts as a liaison between the accounting department, customers, project engineers, managers, and whoever might be involved in the finances of an endeavor
He prepares various charts and graphs to help others understand the company’s financial status
He provides reviews and comments to ensure the accuracy of expense related documents
The cost analyst also supports the business’s success by giving senior managers recommendations concerning financial policy and expense management.
Oversee Daily Expenses:
Many cost analysts perform daily accounting or bookkeeping duties. They may approve and administer invoice payments to outside vendors and suppliers
Costs analysts tabulate daily performance reports, often reviewing these assessments with project stakeholders to monitor costs and keep them in line with the original budget
Depending on the size of the organization, a single analyst can oversee all expense monitoring for a company or conduct analysis for a single project or department.
Educational Qualifications
Preferred candidate will have a Bachelor's Degree in Management Sciences (Accounting, Finance, Business Administration) or Engineering plus a Postgraduate Business Degree.
Skills and Experience:
Statistical data analysis – to interpret company performance data in light of industry statistics
Operational analysis – reducing operational costs, including inventory valuation, product costs, overhead and direct labor costs, etc. is a cost analyst’s primary responsibility
Costing methodology – to determine whether a company is properly using its resources
Mathematical problem-solving – cost analysts need proven analytical, mathematical, and problem-solving skills to accomplish their job successfully
Accounting – basic knowledge of accounting and financial analysis is needed to make cost-benefit analysis decisions
Writing skills – analysts must translate complex financial information into simple reports that managers and non-technical employees can easily understand
Communication skills – sharing difficult information and shedding light on harsh realities with clarity and tact is a significant part of a cost analysts’ job
Organizational skills – cost analysts must be able to effectively prioritize many different tasks and sources of data to complete their job
Cost analysts must have advance knowledge of Microsoft Office Suite, Data mining and analysis software, and Enterprise resource planning software.
Application Closing Date
15th January, 2019.
Method of Application
Interested and qualified candidates should send their detailed & recent CV to: [email protected] Use the job title as the subject of your mail.