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.