The Cost Analyst will collect and analyze financial information related to the organization’s expenses, seeking ways to improve accuracy of budgets and forecasts, and to decrease the cost of assigned departments and projects.
Cost analysts examine and manage the expenses of a company. One of their key goals is to determine ways to reduce inefficiencies and lower costs. They must also keep an eye on the ‘bigger picture’ to understand how markets are performing in their industry.
- Completes technical estimates using cost models
- Identifies opportunities and analyzes marketplace key performance indicators to diversify campaigns, expand visibility, and improve performance
- Utilizes cost estimation systems to document project information, create estimates and revise project costs to reflect current data
- Calculates correct costs for project-specific goods and services by gathering information from team members, sub-contractors and vendors
- Assists with content and keyword strategy development to increase rankings on all major search engines
- Prepares estimates used by management for purposes such as planning, organizing and scheduling work
- Devises, enhances and communicates deliverable timetables by reviewing project requirements, scope and resources to make accurate assessments
- Monitors changes in processes or methods to calculate effects on overall costs
- Conducts market research to support future business planning
- Bachelor’s degree in finance, business or relevant field
- Between 3 – 5 years’ proven experience as an analyst in supply chain or finance
- Excellent analytical, mathematical, and problem-solving abilities
- Superb communication and presentation skills
- Aptitude to succeed in a stressful and deadline-oriented environment
- Solid understanding of Information Systems and MS Excel
Skills needed for this role
Cost analysts must have strong analytical and problem-solving abilities. They should be strong communicators, with good presentation skills. Employers prefer cost professionals to have at least a bachelors’ degree with a strong business or financial training focus, or ideally some form of relevant professional qualification.
Supervisor/5 Years & Up Experienced Employee
Accounting/Finance, General/Cost Accounting