Manager - Costing & Budgeting Job in Ceat Ltd

Key Purpose of the Job (Position Summary)

This position will be responsible for leading the Costing in the preparation of robust financial plan, cost benefit analysis and costing estimate for CEAT by ensuring accurate estimation of costs and consolidation of the same for the various sites and plants. This position shall also provide estimation support to the BD and Marketing team from a pricing perspective.

KEYPERFORMANCE AREAS

• Accurate estimation of costs for the products & Projects
• Cost management of the products by monitoring them as per prescribed budgets
• Accurate Export Benefit Analysis
• Adherence to statutory and compliance norms
• Accurate and Timely information provision for IT / ATMA /PRE Certification
• Cost Audit Management and Compliance

KEY ACTIVITIES & RESPONSIBILITIES

Cost Management

Cost Structure and Design

• Design cost structures that are comprehensive in capturing the total cost component of the product
• Apply standard costing procedures to product / process cost derivations and identify products/processes to be discontinued
• Review Cost structure from time to time and change where needed
• Prepare Costing Manual and define SOP for Costing department

Costing Analysis and Processes

• Oversee product/project costing, fixed assets costing, inventory costing, variance analysis, raw material costing, cost benefit analysis, transfer pricing & reconciliation of cost data for decision making purposes for the various businesses, in consultation with the CFO using various statistical tools and costing techniques
• Develop the costing systems using unit costs activity based costing principles and ensuring that report extraction from the financial systems is seamless and effective
• Undertake activity based costing evaluation of materials to identify areas for improvement, and utilize the same for making recommendations
• Project the operating costs for production and the project execution by building various scenarios with variables like labour, material cost, time, etc.
• Conduct Export Benefit Analysis by working out provisions, execute duty free input reconciliation with focus on product schemes

• Conduct costing runs and identify costs for each SKU / Material FG and SFG and maintain master files for all materials / SKUs
• Provide necessary information and reports for getting PRE Certifications

Tracking and Monitoring

• Track costs and material from Raw Material Inwarding, Conversion, to Finished Goods and Dispatch with inputs from Plant Finance
• Conduct annual cost audits with established parameters and take efforts to correct deviations
• Interact with internal and external auditors in completing audits
• Monitor the variances of actual costs incurred against the budgeted costs, probable reasons, and highlight areas for improvements in operations, or inherent structural bottleneck
• Ensure timely coordination and analysis of financial information including monthly financial results, preparation of recurring management reports

Provide Support to Sales and Marketing Team

• Provide costing support to the S&M team to enable a robust price quoting process to maximize product margins
• Support the Sales and Marketing teams in negotiation process by providing support on costing and estimation for the proposal

Reporting and Analysis

• Perform ageing analysis of the stock levels at the Plants, and highlight the same to the SCM team for optimum inventory planning
• Conduct Export benefit analysis and prepare reports for the management
• Review cost sheets and cost audit reports
• Establish cost sheets for each SKU and track opening and closing inventory and provide for all necessary information that is required for Cost Audits

Costing MIS and Documentation

• Ensure cost accounting record rules are followed in the department
• Reconcile the consumption data cost by calculating the variance through the reports from SAP and MIS

• Managing costing data in SAP, valuation of Inventory, verification of bills and reconciliation of accounts
• Prepare Costing MIS for Product costing, Breakeven & contribution analysis, rejection analysis, customer wise/ product wise profitability
• Ensure accurate reporting in the areas of Manufacturing (yield, consumption norms. cost of poor quality, rejections, etc), Cost trends, price and usage variances over business plans etc.
• Coordinate with plants, exports and departments to get SKU wise reports of finished goods and raw materials
• Ensure the high level accuracy and timely submission of all MIS reports

People Management

• Manage performance of the team and ensure that team is working in line with organizational value system
• Ensure team is adequately trained and proactively work with HR at capability enhancement of team
• Conduct effective performance appraisals and provide regular feedback

Education and Experience Required

Education:

CA :Only 1st Attemptor MBA Finance from Tier 1 institutes.

Experience:

5 - 10 years, with relevant costing experience.

Working Knowledge of S4Hana, material ledger, standard costing etc.