Cost Analyst II - Purchase Price Variances

JOB PURPOSE

The Cost Analyst II helps Vollrath succeed by compiling variance and spend data, performing analysis, and sharing relevant information and actionable insight with those in a position to directly influence performance in these areas. This position also plays an important role in annual budgeting and standard cost development.

ESSENTIAL FUNCTIONS, RESPONSIBILITIES, & OTHER DUTIES

• Prepare, analyze, and communicate monthly purchase price variances. Identify key drivers, quantify financial impacts, and recommend corrective actions to improve forecast accuracy and operational performance.
• Lead root cause investigations for significant purchase price variances through transaction-level analysis, supplier performance review, and collaboration with procurement and operations teams.
• Partner with procurement and operations leaders to identify margin improvement opportunities, reduce unfavorable variances, and improve cost performance against budget and standard cost targets.
• Coordinate and develop annual operating budgets for assigned manufacturing facilities including labor, overhead, manufacturing variances, and cost allocations while challenging assumptions and evaluating financial risks and opportunities.
• Play an integral part in the yearly standard cost roll process through development and validation of standard cost inputs, overhead rates, burden assumptions, and cost adders.
• Complete month-end cost accounting activities including journal entries, account reconciliations, variance analysis, and financial reporting while ensuring completeness, accuracy, and adherence to deadlines.
• Serve as a business partner for cost reduction projects by establishing financial baselines, validating realized savings, tracking project performance against targets, and communicating results to project stakeholders and leadership.
• Prepare product profitability and other cost analyses to support strategic business decisions. 
• Assist in other projects or duties as assigned by the Senior Cost Accounting Manager.

WORKING CONDITIONS

• Work is performed in a typical office setting.
• Ability to sit at a computer or meeting for extended periods of time.
• Ability to walk the production floor with possible uneven surfaces.
• Travel to other manufacturing facilities (<5%)

SUPERVISORY RESPONSIBILITIES

• No supervisory responsibilities are required for this position.

REQUIRED KNOWLEDGE, SKILLS, ABILITIES & COMPETENCIES

• Minimum of 3 years of analytical accounting experience. 
• 5 years of analytical accounting experience, preferably in cost accounting desired, but not required.
• Minimum Bachelor's degree with a major in accounting or finance.
• A strong self-starting individual with tenacity, a sense of purpose, and a resourceful and collaborative attitude.
• A pattern of seeking out and successfully completing projects, digging to determine root causes and finding solutions, and serving as a collaborative business partner with other functional areas.
• Strong analytical and problem-solving skills and a broad technical background.
• Good oral and written communication skills for dealing with all levels within the organization.
• Ability to perform advanced excel functions such as pivot tables, filters, sorting, complex formulas, and graphs.
• Experience in JDE or other ERP systems and the ability to create ad hoc financial reports using a database report writing tool are preferred.
• Visual acuity to perform activities such as preparing and analyzing data and figures.