Cost Analyst
Reports To
Finance Manager / Commercial Manager / Head of Finance
Location: Rochford, Essex - Office based role so must be within commuting distance.
Salary: £30k - £40k (DOE)
Job Purpose
The Cost Analyst is responsible for analysing, monitoring, and reporting on organisational costs to support financial efficiency and profitability. The role involves identifying cost-saving opportunities, preparing financial models, supporting budgeting processes, and providing data-driven insights to aid operational and strategic decision-making.
Key Responsibilities
Cost Analysis & Reporting
* Analyse operational, production, procurement, and project costs.
* Prepare regular cost reports, variance analyses, and financial summaries.
* Monitor actual expenditure against budgets and forecasts.
* Identify trends, anomalies, and opportunities for cost reduction.
* Develop and maintain cost models for products, services, or projects.
Budgeting & Forecasting
* Support annual budgeting and periodic forecasting exercises.
* Work with department managers to review spending plans.
* Assist in preparing financial projections and scenario analyses.
* Track key cost drivers and recommend corrective actions where necessary.
Commercial & Operational Support
* Evaluate supplier pricing and procurement costs.
* Support tendering, pricing, and contract reviews.
* Conduct profitability and margin analysis.
* Provide financial insight for operational improvement initiatives.
Data Management Systems
* Maintain accurate financial and operational datasets.
* Use ERP/accounting systems and spreadsheets to produce analyses.
* Develop dashboards and reporting tools where applicable.
* Ensure data integrity and consistency across reporting processes.
Compliance & Controls
* Ensure compliance with company financial policies and procedures.
* Assist with audits and financial reviews.
* Support implementation of internal controls related to cost management.
Key Skills & Competencies
Essential
* Strong numerical and analytical skills.
* Advanced proficiency in Microsoft Excel.
* Ability to interpret complex financial data.
* Excellent attention to detail.
* Strong communication and presentation skills.
* Commercial awareness and business acumen.
* Ability to manage multiple priorities and meet deadlines.
Desirable
* Experience with ERP systems (e.g., SAP, Oracle, Sage, Dynamics).
* Knowledge of Power BI or other reporting tools.
* Understanding of cost accounting principles.
* Experience in manufacturing, construction, logistics, or service industries.
Qualifications & Experience
Essential
* Bachelor’s degree in Finance, Accounting, Economics, Business, or related field.
* 2+ years’ experience in cost analysis, finance analysis, or management accounting.
Desirable
* Part-qualified or qualified professional certification (ACCA, CIMA, ACA, or equivalent).
* Experience in budgeting and forecasting environments.