What are the responsibilities and job description for the Cost Analyst position at Rand Precision Machining?
Company Overview:
Our leading machining and fabrication manufacturing company is a market leader in the industry, with annual revenues of $50 million. We pride ourselves on delivering high-quality products and services to our clients, and we have built a strong reputation for innovation, precision, and customer satisfaction. As we continue to grow and expand our operations, we are seeking an experienced and talented individual to join our team as a Cost Analyst.
Job Overview:
The Cost Analyst will oversee financial operations for one or more projects, including cost accounting, cash flow, budgeting, forecasting, and financial analysis. They will develop cost estimates for projects based on work scope, specifications, and contract proposals using applicable estimating methodologies and tools; and analyze project requirements, plans, and specifications to identify labor, material, equipment, and service requirements. They will use benchmark data, trends, prior estimates, and historical pricing schedules to generate detailed cost estimates that consist of itemized lists of expenses, labor hours, material quantities, and potential cost variations. They may use different estimating methods, mathematical models, or specialized estimating software tools to generate estimates depending on the complexity and type of project. The Cost Analyst will report directly to the Chief Financial Officer (CFO).
Responsibilities:
Proposal Pricing & Compliance:
- Lead the cost volume development for proposals (DoD, Prime Contractors).
- Prepare detailed cost models and pricing strategies compliant with FAR and CAS.
- Collaborate with cross-functional teams (Business Development, Engineering, Procurement, Program Management) to gather input and validate cost assumptions.
- Interface with government auditors and DCAA representatives as needed.
- Ensure adequate documentation and audit readiness of all cost proposals and estimates.
Financial Planning & Analysis:
- Develop cost and margin forecasts in support of quarterly forecasts and annual budgeting processes.
- Provide cost data to support make/buy decisions and capital investment evaluations.
- Identify cost-saving opportunities and process improvements in operations and procurement.
Internal Controls & Systems:
- Support system improvements and automation of cost and pricing functions (ERP integration, pricing tools).
- Ensure compliance with internal control policies and procedures related to cost accounting and pricing.
Qualifications:
Education & Experience:
- Bachelor’s degree in Accounting, Finance, or related field OR Associate’s Degree and equivalent combination of relevant education &/or experience.
- Minimum 3 years of progressive cost accounting experience in a manufacturing environment.
- Minimum 3 years of experience developing federal proposal pricing or similar experience (DoD experience strongly preferred).
- Experience with FAR, DFARS, and CAS compliance preferred.
Skills & Competencies:
- Strong understanding of manufacturing operations, inventory systems, and cost drivers.
- Proficiency in cost modeling, pricing tools, and ERP systems (preferably JobBOSS, Infor Visual, Epicore, or similar).
- Advanced Excel and financial modeling skills.
- Experience with Cost Estimation, Material Requirements Planning, Project Estimation, and Requirements Analysis.
- Basic understanding of cost estimation methodologies
- Knowledge of statistical analysis or data analytics tools.
- Ability to interpret and analyze financial data, budgets, and historical cost data.
- Strong grasp of basic mathematics, including algebra and statistics, for cost calculations and projections.
- Basic knowledge of economics, including inflation, discounting, and net present value (NPV) calculations.
- Strong analytical, organizational, and communication skills.
- Ability to work independently and collaboratively in a deadline-driven environment.
- Comfortable interfacing with peers, auditors, government customers, and executive leadership.
Job Type: Full-time
Salary : $50