Cost Accountant

National Association of Mutual Insurance Companies; United States; Remote; USD 68,000 - 85,000; Full time

Job summary

A leading company in the insurance sector seeks a Cost Accountant to enhance financial data capabilities and optimize operational cost structures. The successful candidate will analyze profitability, ensure compliance, and collaborate with finance teams to produce accurate reporting, supported by proficiency in Oracle EPM. Candidates should possess a degree in accounting, strong cost accounting knowledge, and relevant experience.

Qualifications

• Minimum 5 years of experience in finance preferred.
• Professional certification (e.g., CPA, CMA) is preferred.
• Strong knowledge of GAAP.

Responsibilities

• Analyze cost drivers and recommend cost-saving measures.
• Maintain cost accounting calculations within Oracle.
• Assist in preparation of budgets and forecasts.

Skills

Cost Accounting Principles

Financial Analysis

Oracle EPM PCM

Activity Based Costing

Process Improvement

Education

Bachelor’s degree in accounting, Finance, or related field

Job description

The Opportunity
The Cost Accountant will be responsible for developing, analyzing, and maintaining Velera’s operating cost structure and allocation methodologies for client and product level profitability reporting and analysis. This role enables leadership to confidently present findings and recommendations to executive management using data from the Oracle profit and cost management tool, which supports financial decision-making related to client and product pricing.

Day in the Life

Improve financial data and analytic capabilities with current tools for the pricing function.
Investigate and implement integration of internal systems to enhance allocation methodology.
Utilize available RPA or AI functionality to continuously refine allocations and drive efficiency by utilizing activity and cost trend data.
Partner with internal teams as appropriate to develop, test, analyze and refine allocation methodologies by product/solution and client.
Maintain cost accounting calculations and procedures within Oracle.
Analyze cost drivers, recommend cost-saving measures, and refine calculation schemes.
Continuously improve cost accounting processes and systems by identifying and presenting effective solutions and strategies to leadership.
Review and reconcile accounts, conduct cost audits, and ensure compliance with financial audits on regular basis.
Assist in the preparation of budgets and forecasts.
Collaborate with the finance team to support month-end and year-end closing processes with a high priority on accuracy.
Operate as a data source expert to streamline analytics and identify the “source of truth” for costs used in pricing analysis.
Provide financial analysis and support for pricing decisions and profitability analysis

Bachelor’s degree in accounting, Finance, or a related field.
Minimum 5 years experience in finance preferred
Proven experience as a cost accountant, cost analyst or similar role
Minimum of 2 years’ experience with Oracle EPM PCM-Profit and Cost Management
Professional certification (e.g., CPA, CMA) is preferred.
Strong knowledge of cost accounting principles and practices.
Knowledge of Generally Accepted Accounting Principles (GAAP)
Familiarity and mindset to use RPA and AI technologies for process improvement.
Experience in the payment industry or a similar sector a plus
Working knowledge of Activity Based Costing (ABC) Methodology