Senior Executive – Costing & Plant Finance

About the Role
We are seeking an experienced and analytical Costing Professional to join our finance team in Mumbai. In this role, you will take independent ownership of product costing, variance analysis, and inventory valuation. You will work closely with plant operations and directly report financial insights to the Director to drive cost optimization and operational efficiency.
The ideal candidate must have hands-on experience in a manufacturing setup (ideally engineering or transformer manufacturing) and a deep understanding of ERP-based costing systems.
Key Responsibilities
Product Costing & BOM Management: Prepare, analyze, and regularly update product costing models, complex Bills of Materials (BOMs), and item-wise cost sheets.
Cost Monitoring & Variance Analysis: Monitor and control daily, weekly, and monthly standard costs versus actual costs. Analyze material, labor, and overhead cost variances, identify root causes, and recommend corrective actions.
ERP Costing : Manage and optimize costing modules within the ERP system, ensuring data accuracy, process automation, and workflow efficiency.
Management Reporting (MIS): Prepare and present monthly cost reports, plant-wise/product-wise profitability analysis, and actionable MIS reports directly to the Director.
Inventory Valuation & Reconciliation: Oversee inventory valuation, monthly stock verification, and material reconciliation to ensure accurate cost accounting.
Budgeting & Forecasting: Assist management in preparing annual plant budgets, raw material cost estimates, financial forecasts, and cost-control strategies.
Cost Optimization: Proactively identify opportunities for waste reduction, raw material optimization, and process improvements without compromising production quality.
Audit & Compliance: Support cost audit activities and ensure strict compliance with applicable cost accounting standards and statutory requirements.
Required Skills & Qualifications
Industry Experience: Minimum 3 years of core costing experience in Transformer Manufacturing, Engineering, Foundries, or related heavy manufacturing sectors.
Technical Expertise: Exceptional command over manufacturing accounting, raw material yield calculations, standard costing, and overhead allocation.
Software Skills: Advanced proficiency in ERP systems (SAP, Oracle, Microsoft Dynamics, or equivalent industrial ERP) and expert-level MS Excel skills.
Analytical Mindset: Strong ability to translate complex production floor data into clear financial metrics for executive leadership.
Communication: Confident communication skills to present reports directly to senior directors and coordinate with plant engineers.

Work arrangement
No