Finance Product Cost Sr. Manager

Lucid Motors; King Abdullah Economic City; On-site; SAR 300,000 - 400,000; Full time

Job summary

A leading electric vehicle manufacturer in Saudi Arabia is seeking a skilled professional to lead the product costing function. The ideal candidate will have over 15 years of experience in manufacturing finance, focusing on product costing, with a proven track record in the automotive industry. This role involves collaborating with various departments to optimize costs and improve financial performance, ensuring accurate and timely costing of components and assemblies.

Qualifications

• 15–20 years of experience in manufacturing finance, with at least 5 years in product costing roles.
• Prior experience in automotive or EV industry preferred.
• Strong knowledge of standard costing, variance analysis, and manufacturing KPIs.

Responsibilities

• Lead the product costing function within the Plant.
• Support annual budgeting and rolling forecasts related to manufacturing cost.
• Identify cost-saving opportunities in sourcing, manufacturing, and logistics.

Skills

Deep understanding of manufacturing processes and cost drivers

Strong analytical skills

Problem-solving skills

Communication skills

Leadership skills

Education

CA / CMA (ICWA) / MBA Finance

Job description

Position Overview:

To lead the product costing function within the Plant, ensuring accurate and timely costing of components, assemblies, and final vehicles. This role involves analyzing material costs, driving cost optimization, supporting budgeting and forecasting activities, and partnering with operations, engineering, and procurement to improve overall financial performance.

Key Responsibilities:

Deep understanding of manufacturing processes and cost drivers.

Strong analytical, problem-solving, and communication skills.

Ability to work in a fast-paced, cross-functional environment.

Attention to detail and commitment to continuous improvement.

Leadership skills to manage and develop a team

Product Costing & Analysis:

• Lead the standard costing process for all EV models and components produced in the plant.
• Ensure accurate Bill of Materials (BOM), routing, and cost rolls in SAP or relevant ERP systems.
• Conduct variance analysis (standard vs. actual costs) and drive root-cause analysis.
• Collaborate with R&D and engineering for cost estimation of new products and prototypes.
• Lead BOM cost optimization streams and ensure targets are met according to company objectives

Budgeting, Forecasting & Financial Planning:

• Support annual budgeting and rolling forecasts related to manufacturing cost, overheads, and inventory.
• Partner with plant operations to monitor production efficiencies, scrap rates, and yield losses.
• Analyze and present monthly cost performance reports to senior leadership.

Cost Control & Optimization:

• Identify cost-saving opportunities in sourcing, manufacturing, and logistics.
• Work with supply chain, production, and quality teams to implement cost reduction initiatives.
• Benchmark product costs against industry standards and internal targets.
• Recommend corrective actions and participate in cost improvement projects

New Product Development (NPD) Support

• Provide costing support during the product development cycle.
• Participate in design-to-cost, cost target setting, and business case evaluation.
• Collaborate with engineering and sourcing teams to ensure cost competitiveness.

Cross-functional Coordination:

• Work closely with Procurement, Engineering, and Program Management teams for cost transparency.
• Support Make vs Buy decisions with robust financial modeling.

Compliance & Reporting:

• Support internal and external audits with respect to product costing

Strategic Sourcing Support

• Support procurement team in cost negotiations with suppliers.
• Validate supplier quotes based on in-house cost models and should-cost analysis.
• Support make vs. buy decisions and localization projects.

Skills:

• Deep understanding of manufacturing processes and cost drivers.
• Strong analytical, problem-solving, and communication skills.
• Ability to work in a fast-paced, cross-functional environment.
• Attention to detail and commitment to continuous improvement.
• Leadership skills to manage and develop a team

Minimum Qualifications:

• CA / CMA (ICWA) / MBA Finance / Engineering background with costing expertise.
• 15–20 years of experience in manufacturing finance, with at least 5 years in product costing roles.
• Prior experience in automotive or EV industry preferred.
• Strong knowledge of standard costing, variance analysis, and manufacturing KPIs.
• Working in a greenfield or ramp-up EV plant.
• Familiarity with government subsidies/incentives for Evs/Localization