Cost analyst

Welcome to MZN Management Group, LLC (“MZN”), your partner in talent acquisition and management. As a proud woman-owned recruiting firm located in Northfield, Illinois, we specialize in catering to the needs of industries such as Private Equity, Commercial Real Estate, Healthcare, Financial Services, IT, Manufacturing, Logistics, and Supply Chain. At MZN, our commitment extends far beyond traditional recruiting. We are dedicated to crafting personalized solutions that resonate with your unique business requirements. Nationally, our team of seasoned professionals stands ready to deliver unparalleled staffing services with efficiency, accuracy, and unwavering dedication. Our mission is simple: to make your business our business. By immersing ourselves in your organization's ethos from the outset, we craft tailored strategies that align seamlessly with your objectives. With our collective experience in the staffing and recruiting sphere, we streamline what once seemed complex, expensive, and time-consuming, ensuring your focus remains where it matters most—on driving growth and innovation. Transparency, trustworthiness, and thoroughness are not just words to us—they're the cornerstones of our philosophy. From our initial meeting onwards, we prioritize building enduring partnerships built on mutual understanding and shared goals. By delving deep into your aspirations and challenges, we lay the groundwork for a collaborative journey towards sustained success. At MZN, we recognize that your success hinges on the caliber of your team. That's why we go above and beyond to place candidates who not only meet your immediate needs but also align with your long-term vision. With a keen eye for talent and a proactive approach to sourcing, we ensure that every placement is a step towards optimizing your organization's potential.

About Our Client

Our client is a leading provider of heavy fabrication, machining, and industrial equipment repair services. Specializing in large-scale equipment refurbishing and custom fabrication, they serve a diverse range of industries, including steel mills, aluminum plants, and manufacturing facilities. With extensive in-house capabilities, including CNC machining and a 50-ton crane capacity, they provide high-precision repairs and upgrades for industrial machinery. Additionally, the company is known for its expertise in rock crusher repairs, hot and cold mill mandrels, large cylinder rebuilds and manufacturing custom machine parts for industries such as mining, construction, and heavy manufacturing.


Position Summary

Our client is seeking a Cost Analyst to manage and oversee their operational finance activities. This role will be responsible for cost accounting, financial forecasting, budgeting, reporting, and due diligence processes. The ideal candidate will have a strong background in accounting principles and cost analysis to ensure the accuracy of financial records, support management in decision-making, and contribute to operational efficiency improvements.
The successful candidate will also be responsible for developing and enforcing internal controls to safeguard company assets, improving department functions, and identifying areas for business optimization through data-driven insights. The Cost Analyst will work closely with various departments to drive cost-saving initiatives and support the business in meeting its financial goals.


Essential Duties and Responsibilities

Cost Analysis and Reporting

* Prepare detailed cost reports, analyzing direct materials, labor, and overhead to identify cost trends and

variances from the budget.

* Manage and analyze Raw Material Inventory, Work in Process (WIP), and Finished Goods Inventory,

ensuring proper accounting and conducting physical inventory counts.

* Perform in-depth cost variance analysis to identify areas for cost reduction.

* Develop and maintain standard costs for products and services, ensuring alignment with financial

targets.

* Calculate and maintain percentage of completion (POC) revenue recognition and reconciliations.


Budgeting and Forecasting

* Collaborate with operational teams to develop detailed cost budgets and forecasts.

* Monitor actual costs against budget projections, identifying potential cost overruns and variances.

* Provide regular updates and financial insights to management on budget performance and adjustments.


Cost Control Measures

* Implement and monitor cost control measures to optimize operational efficiency.

* Identify cost-saving opportunities and recommend improvements to processes and procedures.

* Analyze equipment utilization and suggest changes to improve manufacturing efficiency.


Cross-Functional Collaboration

* Work closely with production, procurement, and sales teams to understand cost drivers and identify cost

reduction opportunities.

* Provide financial analysis and support for strategic decision-making and business initiatives.


Month-End and Year-End Closing

* Participate in the month-end and year-end closing process, including variance analysis and

reconciliations.

* Ensure accurate cost accounting records are maintained in compliance with accounting standards.


Mentorship and Development

* Provide guidance and training to junior accounting staff on cost accounting principles and practices.

* Lead the development and implementation of new processes to align with the transition to the

company’s new ERP system (JDE).


Required Skills and Qualifications

* Bachelor’s degree in accounting, finance, or related field.

* Strong analytical and problem-solving skills.

* In-depth knowledge of cost accounting principles and practices.

* Excellent communication and presentation skills to effectively convey financial information to

management.

* Advanced proficiency in Microsoft Excel and familiarity with JDE ERP systems.

* Experience in manufacturing or other cost-intensive industries is a plus.

* Willingness to travel up to 10% to various locations for business needs.


Reports to: Operational Controller/General Manager

Bachelor’s degree in accounting, finance, or related field. Strong analytical and problem-solving skills. In-depth knowledge of cost accounting principles and practices. Advanced proficiency in Microsoft Excel and familiarity with JDE ERP systems. Experience in manufacturing or other cost-intensive industries is a plus. Willingness to travel up to 10% for business needs.