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  • Cost Analyst at Afordonz Consulting

  • Posted on: 8 January, 2019 Deadline: 15 January, 2019
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  • Afordonz Consulting Limited - Our client specializes in facilities management and is seeking to recruit a suitably qualified candidate to fill the position below:

    Cost Analyst


    Role Summary

    • Cost analysts evaluate expenses for an organization’s departments and projects
    • He digs into financial numbers, figuring out ways to reduce inefficiencies and decrease costs
    • He also keeps his eyes on the big picture to understand how markets are performing in their industry
    • He contributes to help secure their future. Cost analysts play a vital role in determining whether their company is ready for growth, whether it can invest in a new project, hire employees, or afford to stay in operation.

    Duties and Responsibilities
    Cost Analysis & Testing:

    • The cost analyst is responsible for running a large number of tests on company data
    • He will analyze these tests to offer specific answers to problems, such as the most profitable plan for a building project or the cost-effectiveness of current operational activities
    • He performs deep data analysis to complete a wide variety of mathematical solutions. His cost analysis includes potential pricing model changes, new business models, and more.

    Market Analysis and Research:

    • The Cost analysts would carry out market research, keeping his eyes on the entire market, studying it deeply
    • He will use financial software to analyze and track organizational expenses
    • He will research the costs of fellow competitors.

    Creating Cost Reduction Plans and Reports:

    • The cost analyst will crunch numbers, write reports, and provide suggestions for money-saving strategies, documenting his findings in written plans
    • His reports are essential to creating more cost-efficient processes within businesses
    • The data he provides can determine whether a business’s new undertaking is a yes or a no from a cost perspective.

    Lead Cost Management Policy:

    • The cost analyst acts as a liaison between the accounting department, customers, project engineers, managers, and whoever might be involved in the finances of an endeavor
    • He prepares various charts and graphs to help others understand the company’s financial status
    • He provides reviews and comments to ensure the accuracy of expense related documents
    • The cost analyst also supports the business’s success by giving senior managers recommendations concerning financial policy and expense management.

    Oversee Daily Expenses:

    • Many cost analysts perform daily accounting or bookkeeping duties. They may approve and administer invoice payments to outside vendors and suppliers
    • Costs analysts tabulate daily performance reports, often reviewing these assessments with project stakeholders to monitor costs and keep them in line with the original budget
    • Depending on the size of the organization, a single analyst can oversee all expense monitoring for a company or conduct analysis for a single project or department.

    Educational Qualifications

    • Preferred candidate will have a Bachelor's Degree in Management Sciences (Accounting, Finance, Business Administration) or Engineering plus a Postgraduate Business Degree.

    Skills and Experience:

    • Statistical data analysis – to interpret company performance data in light of industry statistics
    • Operational analysis – reducing operational costs, including inventory valuation, product costs, overhead and direct labor costs, etc. is a cost analyst’s primary responsibility
    • Costing methodology – to determine whether a company is properly using its resources
    • Mathematical problem-solving – cost analysts need proven analytical, mathematical, and problem-solving skills to accomplish their job successfully
    • Accounting – basic knowledge of accounting and financial analysis is needed to make cost-benefit analysis decisions
    • Writing skills – analysts must translate complex financial information into simple reports that managers and non-technical employees can easily understand
    • Communication skills – sharing difficult information and shedding light on harsh realities with clarity and tact is a significant part of a cost analysts’ job
    • Organizational skills – cost analysts must be able to effectively prioritize many different tasks and sources of data to complete their job
    • Cost analysts must have advance knowledge of Microsoft Office Suite, Data mining and analysis software, and Enterprise resource planning software.

    Method of Application

    Applicants should send their detailed & recent CV to: Use the job title as the subject of your mail.

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