Senior Costing Accountant

About the Role

alfanar Group is seeking a Senior Costing Accountant to join their team in Riyadh. This full-time role focuses on managing product costing, manufacturing cost accounting, and inventory valuation. The successful candidate will support accurate financial reporting, cost control, and informed operational decision-making in line with company policies and accounting standards.

Key Responsibilities

• Manage product costing activities for assigned manufacturing operations, ensuring accuracy of standard costs, Bills of Materials (BOMs), routings, labor rates, and overhead allocations.
• Perform standard cost roll-ups and periodic cost reviews to reflect current manufacturing conditions.
• Analyze actual manufacturing costs against standard costs and investigate variances.
• Review cost absorption, material usage, labor efficiency, scrap, rework, and production overheads.
• Manage inventory valuation, work-in-progress (WIP), production order settlements, and manufacturing-related inventory accounting.
• Review material consumption, inventory movements, stock adjustments, and investigate abnormal inventory transactions.
• Support month-end and year-end closing activities related to manufacturing costs, inventory, cost centers, and production variances.
• Prepare manufacturing cost reports, inventory reconciliations, and financial analyses for management.
• Perform detailed variance analysis for material, labor, overhead, purchase price, scrap, rework, and production efficiency.
• Assist in the preparation of annual budgets, forecasts, and manufacturing cost plans.
• Monitor actual manufacturing costs against budgets and forecasts, highlighting financial risks and recommending corrective actions.
• Partner with production, warehouse, procurement, planning, engineering, and quality teams to improve cost visibility and operational performance.
• Provide financial analysis and costing support for new products, process improvements, and operational initiatives.
• Ensure compliance with company policies, accounting standards, and internal controls related to manufacturing costing and inventory.
• Maintain accurate documentation for costing calculations, reconciliations, inventory adjustments, and financial analyses.
• Support internal and external audits, inventory counts, and cost audit requirements.

Role Accountabilities

• Maintain updated soft and technical skills relevant to the job.
• Perform planned activities to meet operational and development targets as per delivery schedules.
• Utilize resources effectively to achieve objectives within efficient cost and time.
• Provide periodic reports detailing deviations and execution of planned tasks.
• Solve arising problems and escalate complex operational issues.
• Ensure quality requirements to develop effective quality control and processes.
• Coordinate well-defined written systems, policies, procedures, and seek automation opportunities.
• Comply with related policies, procedures, and work instructions.
• Ensure compliance with relevant safety, quality, and environmental management procedures and controls.

Qualifications and Experience

Candidates should possess 5-10 years of relevant experience in costing and accounting roles, preferably within a manufacturing environment. The ability to apply accounting standards and company policies effectively is essential.