Senior Manager – Cost Audit Menschen Consulting

The Corporate Institute; Mumbai; On-site; INR 1,800,000 - 2,400,000; Full time

Job summary

The Corporate Institute in Mumbai seeks a Senior Manager – Audits (Costing) to lead cost audit, costing governance, site controlling and cost analysis across manufacturing locations. The role will ensure accuracy of product costing, standard vs actual cost analysis, and inventory valuation while driving pricing governance and cost audit compliance.

You will partner with Manufacturing, Plant Finance, Supply Chain, Procurement, Sales and Marketing to provide actionable financial insights,

Qualifications

• 10-15 years of relevant experience in Costing, Cost Audit and Manufacturing Finance.
• Strong knowledge of CAS, regulatory requirements and internal controls.
• Experience partnering with manufacturing and business teams to drive cost optimization.

Responsibilities

• Cost Audit & Compliance: plan and execute audits and ensure data accuracy for cost reports.
• Product Costing & Site Controlling: lead costing and variance analysis across plants.
• Cost Analysis & Business Performance: standardize monthly cost reporting and identify drivers.
• Pricing & Commercial Governance: review pricing with respect to margins and cost structure.
• Inventory Valuation & Controls: ensure proper valuation and control of raw materials and finished goods.
• Internal Audit & Process Controls: conduct audits and strengthen IFC across costing processes.
• Business Partnering & Cross-functional Coordination: work with Manufacturing, Finance, SCM, Sales and Marketing.
• Reporting & Management Review: present findings and track corrective actions.

Skills

Costing

Cost Audit

Manufacturing Finance

Site Controlling

Internal Audit

Pricing Governance

Education

CMA / ICWA

CA

MBA – Finance

M.Com

Tools

SAP

ERP Systems

Job description

Role Purpose

The Senior Manager – Audits (Costing) will be responsible for leading cost audit, costing governance, site controlling, cost analysis and internal financial control activities across manufacturing locations and business units.

The role will ensure the accuracy and reliability of product costing, standard vs. actual cost analysis, inventory valuation, pricing governance and cost audit compliance, while identifying cost leakages, operational inefficiencies and opportunities for profitability improvement.

The position will work closely with Manufacturing, Plant Finance, Supply Chain, Procurement, Sales & Marketing and Business Leadership to provide actionable financial and costing insights.

Key Responsibilities

1. Cost Audit & Compliance

• Plan and execute cost audits across manufacturing plants and business units as per the annual audit plan.
• Ensure compliance with Cost Accounting Standards (CAS), Companies Act requirements and applicable regulatory guidelines.
• Coordinate with external Cost Auditors, Statutory Auditors and internal audit teams.
• Prepare, review and validate Cost Audit Reports, Annexures and supporting schedules.
• Ensure availability, accuracy and integrity of costing data for audit purposes.
• Identify gaps in cost accounting processes and drive corrective actions.
• Track and ensure timely closure of audit observations.

2. Product Costing & Site Controlling

• Lead end-to-end product costing and site controlling activities across manufacturing locations.
• Review and validate product cost structures covering raw material, packaging, labour, utilities, conversion costs, overheads and other manufacturing costs.
• Review standard costing and conduct Standard vs. Actual cost analysis.
• Analyze material consumption, production efficiencies, yield, overhead absorption and manufacturing variances.
• Identify cost leakages, abnormal consumption and process inefficiencies.
• Partner with Plant Finance and Operations teams to improve cost controls and profitability.
• Provide inputs for annual business plans, budgets and cost improvement initiatives.

3. Cost Analysis & Business Performance

• Standardize and optimize monthly management reporting and cost analysis.
• Analyze cost trends, variances and key cost drivers across plants/business units.
• Identify potential financial and material challenges, risks and opportunities impacting business performance.
• Provide management with actionable recommendations for cost optimization and process improvement.
• Benchmark cost performance across plants/products and identify best practices.
• Support management in evaluating business cases and cost improvement opportunities.

4. Pricing & Commercial Governance

• Review and validate pricing proposals to ensure alignment with product cost structure, pricing strategy, target margins and profitability objectives.
• Review pricing impact arising from changes in raw material, manufacturing and logistics costs.
• Approve price changes and discounts within the defined authority matrix.
• Ensure accurate and updated pricing information within the ERP/system.
• Ensure pricing decisions comply with organizational pricing policies, guidelines and discount approval processes.
• Highlight margin risks and recommend appropriate pricing actions.

5. Inventory Valuation & Controls

• Support and review inventory valuation activities across manufacturing locations.
• Ensure appropriate valuation of raw materials, WIP, finished goods and other inventories.
• Review provisions, slow-moving/obsolete inventory and related costing implications.
• Ensure timely closure of inventory valuation activities.
• Validate inventory-related costing data and investigate significant variances.
• Strengthen controls around inventory accounting and manufacturing cost allocation.

6. Internal Audit & Process Controls

• Conduct internal/process audits related to product costing, inventory valuation, production accounting, cost center allocation, material consumption, manufacturing overheads and pricing and discount controls.
• Evaluate Internal Financial Controls (IFC) related to costing and plant finance processes.
• Review adherence to SOPs, policies and defined financial controls.
• Identify process gaps and recommend sustainable corrective actions.
• Monitor implementation and closure of audit recommendations.

7. Business Partnering & Cross-functional Coordination

• Work closely with Manufacturing, Plant Heads, Finance, Supply Chain, Procurement, Sales and Marketing teams.
• Partner with the Marketing team for peer/market comparison studies, cost benchmarking and profitability analysis.
• Provide financial and costing inputs for business decisions.
• Facilitate data validation and audit readiness across manufacturing locations.
• Support senior leadership with insights on cost performance, profitability and financial risks.

8. Reporting & Management Review

• Prepare and present cost audit observations, cost variance reports, Standard vs. Actual analysis, product profitability analysis, pricing/margin analysis, inventory valuation reviews, risk assessments and cost optimization recommendations.
• Present key findings and recommendations to senior management.
• Track action plans and ensure timely closure of identified gaps.

Key Result Areas (KRAs)

• Timely completion of cost audits as per the annual audit plan.
• Accuracy and reliability of product costing and cost reports.
• Effective site controlling and cost governance across manufacturing locations.
• Reduction in standard vs. actual cost variances and cost leakages.
• Improved product profitability and pricing governance.
• Timely and accurate inventory valuation.
• Compliance with Cost Accounting Standards and regulatory requirements.
• Timely closure of audit observations and corrective actions.
• Standardization of monthly cost reporting and analysis.
• Identification and implementation of cost optimization opportunities.

Qualification

Preferred

• CMA / ICWA strongly preferred.
• CA.
• MBA – Finance.
• M.Com.
• Candidates with a strong combination of Costing + Cost Audit + Manufacturing Finance/Site Controlling experience will be preferred.

Experience

• 10-15 years of relevant experience in Costing, Cost Audit, Plant/Site Controlling, Manufacturing Finance, Internal Audit / Process Audit and Product Costing.
• Strong preference for candidates with experience in a manufacturing organization with multiple plants/business units.
• Experience of working closely with Plant Heads, Manufacturing, Supply Chain and Business teams is preferred.
• Candidates from pure statutory audit backgrounds without hands-on manufacturing costing/site controlling exposure may not be suitable.