Senior Cost Accountant – Metal Manufacturing

Job Overview

The Senior Cost Accountant will oversee all cost accounting activities within a metal manufacturing environment. This role is responsible for analyzing production costs, maintaining accurate cost structures, monitoring material and process efficiencies, and supporting strategic decision-making. The position plays a critical part in optimizing yields, controlling variances, and ensuring the integrity of cost and inventory data across operations.

Key Responsibilities

Costing & Analysis

● Maintain and update cost structures for raw materials, WIP, and finished goods within the SAP system.

● Conduct detailed cost analysis of production processes including furnace operations, scrap management, melting loss, machine-hour utilization, fabrication, and consumables usage.

● Perform standard costing, cost roll-ups, and implement standard revisions based on BOM/routing changes.

● Analyze material, labour, and overhead variances and provide root-cause insights with corrective action recommendations.

Inventory & Valuation

● Track and review inventory valuation for RM, SFG, FG, scrap, rejects, and rework items.

● Coordinate with Production, Purchase, and Stores teams to ensure stock accuracy, cycle counts, and physical verification.

Reporting & Controls

● Prepare monthly cost reports, budget vs. actual analysis, and other MIS reports for management.

● Support capital expenditure evaluations and plant-wide cost reduction initiatives.

● Ensure compliance with accounting standards, internal controls, and audit requirements.

● Identify areas of wastage and drive cost-saving opportunities across the plant.

New Product Development

● Conduct cost estimation, quotation preparation, and price simulations for new product development.

Skills & Competencies

● Strong knowledge of metal manufacturing cost accounting, inventory management, and costing methodologies.

● Proficiency in SAP (manufacturing modules preferred).

● Excellent analytical skills and financial modeling capability.

● Advanced Microsoft Excel skills; experience in reporting/BI tools is an advantage.

● Effective communication and strong cross-functional collaboration ability.

Qualifications

● Graduate/Postgraduate in Commerce, MBA (Finance), or CMA (Inter/Final preferred).

● 5–8 years of experience in cost accounting within metal manufacturing industries (Steel, Foundry, Aluminium, Machining, Forging, etc.).

Key Performance Indicators (KPIs)

● Accuracy of process and product costing.

● Reduction in cost variances and achievement of cost optimization targets.

● Inventory accuracy and scrap control effectiveness.

● Timely submission of monthly MIS and adherence to audit requirements.

Work Environment

● Plant-based role with close coordination across production and supply chain teams.

● Requires regular floor audits, physical verification, and hands-on engagement with operations.