Senior Cost Analyst

Reporting to the Controller, the Senior Cost Analyst is key in optimizing cost efficiency, supporting financial decision-making, and driving profitability for a scaling pre-commercial medical device startup. This role is responsible for cost analysis, variance reporting, budgeting, and cost control. It requires collaboration with cross-functional teams to ensure accurate cost data integration within ERP systems and support process improvements in manufacturing, inventory management, and financial planning.RESPONSIBILITIES: Cost Analysis & ReportingDevelop, maintain, and analyze standard costs, including annual updates and adjustments.Conduct variance analysis (material, labor, overhead), identifying cost-saving opportunities.Prepare and present cost reports to senior management, including trends, variances, and key cost drivers.Ensure compliance with corporate cost accounting guidelines and financial controls.Financial Operations & BudgetingSupport month-end and year-end closing, including journal entries, reconciliations, and inventory valuation.Assist with budgeting, forecasting, and cost modeling for strategic planning.Conduct cost-benefit analyses for capital projects, new product launches, and operational improvements.Manufacturing & Inventory ManagementMonitor inventory levels, track material costs, and perform E&O (excess & obsolete) reserve analysis.Support and oversee physical inventory counts and cycle counts.Analyze production costs, including BOMs (Bill of Materials), routings, and cost absorption rates.ERP & Systems SupportAssist with ERP system updates related to cost accounting, including testing, validation, and troubleshooting.Ensure seamless integration of cost data with financial reporting systems.Identify and implement process improvements to enhance cost tracking and reporting efficiency.Cross-Functional Collaboration & Process ImprovementPartner with Finance, R&D, Supply Chain, and Operations teams to drive cost optimization strategies.Provide financial insights to operational teams to support cost control measures.Identify process inefficiencies and recommend enhancements for improved financial accuracy.QUALIFICATIONS:Education & Experience:Bachelors degree in Accounting, Finance, or related field (CMA/CCEA preferred).5+ years of experience in cost analysis, financial analysis, or manufacturing finance.Experience with standard costing, variance analysis, and cost accounting principles.Prior experience in medical device, manufacturing, or healthcare industries preferred.Technical Skills:Advanced proficiency in Excel and financial modeling.ERP experience (SAP, Oracle, or similar) with cost accounting module knowledge.Knowledge of GAAP, SOX compliance, and cost control best practices.Soft Skills:Strong analytical skills with the ability to interpret complex financial data.Excellent communication skills for cross-functional collaboration.High attention to detail, problem-solving mindset, and ability to work independently.Other:Position is based in Maple Grove, MNHybrid work environment with onsite and remote flexibility based on business needs.

Created: 2025-02-27