Financial Cost Controller

About the Role

We are looking for a Financial Cost Controller who will be responsible for monitoring and controlling costs across our manufacturing and business operations. The role will focus on product costing, raw material consumption, inventory, production costs, variance analysis, budgeting, and profitability.

The ideal candidate should have strong knowledge of cost accounting and manufacturing finance and be able to work closely with Production, Stores, Procurement, and Finance teams.

Key Responsibilities

• Prepare and maintain product-wise cost sheets and standard costing.
• Calculate product costs based on raw materials, packaging, labour, and manufacturing overheads.
• Monitor actual cost vs. standard/budgeted cost and identify significant variances.
• Analyze raw material consumption against BOM/standard consumption.
• Monitor production yield, wastage, rejection, and material losses.
• Track and analyze material price and consumption variances.
• Monitor inventory valuation, stock movement, and inventory discrepancies.
• Review manufacturing expenses and ensure proper allocation of costs.
• Monitor factory overheads and identify areas of cost leakage.
• Work closely with Production and Stores teams to ensure accurate consumption and production data.
• Coordinate with Procurement to analyze purchase prices and their impact on product costing.
• Conduct regular cost and profitability analysis.
• Prepare monthly MIS, costing, and variance reports for management.
• Support budgeting, forecasting, and cost planning activities.
• Identify opportunities for cost reduction and operational efficiency.
• Assist in month-end closing activities related to inventory, costing, and provisions.
• Ensure accuracy and timely reporting of financial and cost-related information.
• Provide meaningful financial insights and recommendations to management.

Key Performance Areas

• Product costing accuracy
• Raw material and packaging cost control
• Production cost monitoring
• Cost and variance analysis
• Inventory and wastage control
• Overhead cost management
• Budget vs. actual analysis
• Product profitability and margin improvement
• Cost reduction initiatives
• Timely and accurate MIS reporting

Candidate Requirements

• CMA Qualified Mandatory.
• 3–4 years of relevant experience in Costing, Cost Control, Manufacturing Finance, Management Accounting, or Financial Analysis.
• Experience in FMCG, Food, Manufacturing, or similar industries will be preferred.
• Strong understanding of cost accounting and manufacturing costing.
• Good knowledge of BOM, inventory, raw material consumption, production variance, wastage, and overhead allocation.
• Strong proficiency in MS Excel.
• Experience with ERP/accounting software will be an added advantage.
• Strong analytical and numerical skills.
• High attention to detail with good problem-solving ability.
• Good communication and cross-functional coordination skills