Financial Analyst Sample Job Description

Analyzes financial data by collecting, monitoring and creating financial models for decision support. Improves financial status by analyzing results; monitoring variances; identifying trends; recommending actions to management.

Get 51 Free Job Descriptions

Summary

Researches and analyzes costs to provide information and insights about expenses and opportunities to improve profitability and margins. Works with the Controller in the areas of balance sheet variance analysis, supply reporting, headcount reporting, purchase price variances, business planning and forecasting, establishment of activity based cost standards, transfer price changes, inventory management, cycle counting cost of goods sold and more. The Cost Analyst will spend a significant amount of time on the production floor working with production employees and management in order to be able to analyze and understand processes, efficiencies, variances etc.

Job Results, Essential Functions & Measures of Success

Drivers of Profit & Loss Identified

Essential Functions
  1. Works with Procurement, Pricing etc. to support costing of both new and existing products.
  2. Reconciles general ledger detail to operations activity.
  3. Works with other functional areas to support costing of both new and existing products.
  4. Analyzes changes in product design, raw material, manufacturing processes, or service provided to determine financial impact on operations.
  5. Calculates and analyzes monthly cost variances including PPV, labor, usage/yield, etc. This will require at least 20% of employee’s time to be spent on the production floor working directly with production employees and management.
  6. Calculates and analyzes variances by product line and sku level.
Measures of Success Receiver's of Information Say:
  • All cost impacts surrounding the decision have been identified and evaluated
  • Reports/analyses logically state the issues and reach conclusions that are supported by the data and analyses
  • They can use the information
  • They can’t find any errors
  • Preparer is able to explain how any numbers were arrived at
  • Reports for corporate and company management are completed by set dates

Opportunities for Improvement are Identified

Essential Functions
  1. Updates, reviews, and communicates various financial analyses to management that provides the base information for Production to determine how to improve efficiency and effectiveness. This will require a significant amount of time spent on the production floor working with production employees and management.
  2. Identifies opportunities to streamline and better utilize SAP or other reports to provide actionable information to Production and Management.
  3. Ensures that recommendations are implemented and processes are streamlined.
  4. Explore opportunities to better capture cost data. Explore, recommend, implement, and measure improvements.
  5. Attends daily production meetings, issues daily update to Finance department, and coordinates financial impact of as appropriate.
Measures of Success Receiver's of Information Say:
  • Reports/analyses logically state the issues and reach conclusions that are supported by the data and analyses
  • They can use the information
  • They can’t find any errors
  • The analyst made meaningful contributions

Reconciliations & Reports

Essential Functions
  1. Manages rolling of standard costs across multiple plants.
  2. Calculates inventory reserve requirements including blocked inventory reporting, Discontinued product tracking and reporting, Expiry reporting, etc.
  3. Analyzes general ledger activity in conjunction with month end closing procedures.
  4. Processes journal entries as required to adjust the general ledger as part of the month end closing process.
  5. Assists with the annual operating plan preparation.
  6. Assists in maintenance of cost accounting system by updating key data as required.
Measures of Success
  • Reports for corporate and company management are completed by set dates
Receivers of the information say that:
  • They can use the information
  • They can’t find any errors
  • Preparer is able to explain how any numbers were arrived at

Critical Success Factors

Analytical

Sorts through myriad information sources and focus on the most relevant aspects of the data. Identifies key facts in a range of data. Notices when data appear wrong or incomplete, or need verification. Distinguishes information that is not pertinent to a decision or solution.  Uses financial analysis to evaluate and create strategic choices and options.  Refrains from "jumping to conclusions" based on no, or minimal, evidence; takes time to collect facts before decision-making.

Influence

Takes action to build strategic relationships between one’s area and other areas, teams, departments, units or organization to help achieve business goals.  Composes and delivers logical and persuasive recommendations, proposals for plans, or programs to decision makers in a manner which facilitates the buy-in needed for successful implementation.

Verbal & Written Communication

Effectively transfers thoughts and express ideas using speech, listening skills and writing skills to influence others or gain their support.

Position Qualifications

Education & Experience

Bachelor’s Degree in Finance or Accounting with three years of cost accounting and financial analysis in a manufacturing environment and/or an equivalent combination of education and experience.   SAP skills in inventory costing/variance analysis a must.

 

Computer Skills

  • Basic Outlook skills as evidenced by creating and sending messages, working with address books, message handling, creating and using personal folders, scheduling appointments, working with meeting requests and managing tasks.
  • Intermediate Microsoft Word skills as evidenced by the ability to produce basic business letters and simple tables and charts; as well as check spelling, set tabs, change page orientation, sort, save, open and organize electronic files; as well as create moderately complex documents containing tables and graphs, and ability to mail merge documents, apply page setup functions (margins, page numbers, footers, headers), create an index and/or table of contents, use search & replace, print labels and envelopes.
  • Advanced Excel skills as evidenced by the ability to use workbooks, create simple formulas, insert and delete data, create and edit charts, filter and sort lists, and format data, link data, create and edit charts, change page orientation, add headers and footers, filter and sort lists, format data, insert rows, enter and sort data and produce graphs and charts; as well as the ability to enter and edit complex formulas, filter lists, sort ranges, create and run macros, and use data analysis tools (pivot tables, scenarios, etc.)

GET 51 FREE Game-Changing Job Descriptions

Improving Performance Management

Improving Performance
Management

Results-focused job descriptions are crucial for clarifying roles and expectations and are an integral part of creating high-performance organizations. This FREE e-book from Transformation Solutions provides the tools you need to write your own winning job descriptions plus 51 practical examples!

Get My Free E-Book