Factory Finance Manager / Head of Costing

ALZAIN TRADING CO. W.L.L; Manama; On-site; BHD 18,000 - 30,000; Full time

Job summary

ALZAIN TRADING CO. W.L.L in Bahrain seeks a Factory Finance Manager / Head of Costing to lead cost accounting, budgeting and financial reporting for the factory. You will drive cost-control, profitability analysis and process improvements across production and accounting teams.

You will oversee precious-metal accounting, manage variances, and provide strategic financial insights to executives, enhancing manufacturing performance and resource utilisation.

Qualifications

• Professional qualification: CA or CMA and accounting/finance degree.
• 10+ years in jewellery manufacturing costing and accounting.
• Experience leading a costing/accounting team preferred.

Responsibilities

• Lead and develop the Factory Accounting and Costing team.
• Oversee general ledger, monthly close, reconciliations and reporting.
• Coordinate with IT to develop costing MIS reports and dashboards.
• Analyse costs, variances and drive cost-optimisation initiatives.
• Prepare budgets, forecasts and variance analyses.
• Monitor production efficiency and gold loss controls.
• Oversee precious-metal accounting and reconciliations.
• Support internal and external audits.

Skills

Team Leadership

Coaching & Dev

Costing

Financial Analysis

Management Reporting

Education

CA / CMA

Bachelors in Accounting/Finance

Tools

ERP / Costing Systems

MS Excel

MS Word

PowerPoint

Job description

Role Objective

The Factory Finance Manager / Head of Costing leads the Factory Accounting and Costing function by ensuring accurate financial reporting, robust cost controls, reliable product and process costing, and continuous process improvement.

The role provides strategic financial support to improve factory profitability, minimise losses, and optimise the use and recovery of gold and other manufacturing resources.

Key Accountabilities

1. Team Leadership

• Lead and manage the Factory Accounting and Costing team, providing guidance, coaching and professional development to strengthen technical, financial and analytical capabilities.

2. Factory Accounting & Financial Reporting

• Oversee factory accounting and costing activities, including the general ledger, trial balance, monthly closing, reconciliations and financial reporting, ensuring accuracy and compliance with company policies.

• Prepare accurate monthly, quarterly, half-yearly and annual management reports covering factory performance, costing, profitability, productivity, departmental performance and key operational metrics.

• Coordinate with IT to develop and maintain costing and MIS reports, dashboards and financial analytics that provide timely operational and financial insights to management, the CEO and the CFO.

3. Cost Accounting & Product Costing

• Develop, implement and maintain a robust factory cost accounting system, supported by appropriate documentation, controls and reporting to enable informed management decisions.

• Analyse manufacturing and product costs by comparing standard costs with actual costs; identify the causes of variances and recommend cost-optimisation initiatives.

• Review product and departmental costing, cost allocations and manufacturing overhead absorption to support accurate product costing and profitability analysis.

4. Budgeting, Forecasting & Variance Analysis

• Prepare and manage annual factory budgets, periodic forecasts and departmental cost plans in alignment with business objectives.

• Monitor performance against budgets and prior periods, investigate variances, identify root causes and recommend corrective actions to improve operational and financial performance.

5. Cost Control & Production Efficiency

• Design, implement and improve cost-control, cost-tracking and production-monitoring processes to maximise resource utilisation, production efficiency and manufacturing profitability.

• Compare production performance with operating expenses, identify operational inefficiencies and highlight opportunities to improve cost efficiency.

• Develop and monitor manufacturing KPIs and benchmarks, including productivity, labour efficiency, manufacturing yield, cost per unit, gold loss, recovery rates and departmental performance; compare results with budgets, historical trends and relevant best practices.

• Monitor manufacturing yield and process efficiency by analysing production output, wastage, recovery rates and resource utilisation.

6. Precious-Metal Accounting & Gold Control

• Oversee precious-metal accounting and control, including metal consumption, recoveries, refining balances, metal movements and reconciliations, ensuring accountability, traceability and minimised loss throughout the manufacturing process.

• Analyse and report on gold usage, loss, recovery and net loss; investigate variances against approved tolerance limits and recommend appropriate corrective measures.

7. Systems, Internal Controls & Audit

• Recommend ERP and other system enhancements relating to factory accounting, costing, inventory control, production reporting and management information systems.

• Strengthen internal controls across factory accounting and costing to safeguard company assets and maintain financial integrity.

• Coordinate and support internal and external audits relating to factory accounting, costing and related controls.

8. Strategic Financial Advice & Continuous Improvement

• Provide financial analysis and strategic recommendations to the CEO and CFO on cost savings, profitability improvement, operational efficiency and manufacturing performance.

• Drive continuous improvement by identifying opportunities to optimise systems, reporting, costing methodologies and factory processes while ensuring compliance with company policies and applicable best practices.

KEY INTERACTIONS

Internal Stakeholders

1. CEO

2. CFO

3. Factory Management & Production Departments

4. Accounts

5. IT

6. Internal Audit

External Stakeholders

1. External Auditors

2. Refiners

3. System Consultants

JOB REQUIREMENTS

Educational Qualifications

• Professional qualification: CA / CMA (Chartered Accountant / Cost & Management Accountant).

• Bachelor's degree in Accounting, Finance or a related field.

Experience

• At least 10 years of experience in jewellery manufacturing, costing and accounting.

• Hands-on experience in manufacturing / process costing, standard costing and variance analysis.

• Experience in leading and developing an accounting or costing team.

• Experience in precious-metal (gold) accounting, metal reconciliation and loss / recovery analysis.

COMPETENCIES

Behavioral Competencies

• Team Leadership

• Coaching & Professional Development

• Working Independently with Minimal Supervision

• Working Under Pressure

• Strong Communication Skills

Technical Competencies

• Manufacturing & Process Costing

• Cost & Financial Accounting

• Budgeting, Forecasting & Variance Analysis

• Gold Purities, Gold Rates & Gold Fixing

• Precious-Metal Accounting & Reconciliation

• ERP / Costing Systems

• MS Excel, Word & PowerPoint

PROBLEM SOLVING & FINANCIAL AUTHORITY

Decision-Making Responsibilities

• Determine costing methodologies, cost allocations and overhead absorption bases within approved company policies.

• Review and approve monthly closing, reconciliations and costing reports prepared by the team.

• Investigate cost, budget and gold-loss variances and decide on corrective actions within approved tolerance limits.

• Recommend cost-saving initiatives, system enhancements and internal-control improvements to the CEO and CFO.

• Escalate matters requiring management approval in accordance with the company Authority Matrix.

Financial Authority

• As per Authority Matrix.

Desired Candidate Profile

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