Costing and Budgeting Manager - Direct Hire

The Manager/Assistant Manager-Costing and Budgeting for Client's USA will manage our financial reporting for inclusion of U.S. financials into our parent company, Client's Pharma Limited's, consolidated financials and reporting to India’s securities and other authorities. This position reports into the Assistant Vice President of Finance and is located out of our East Windsor New Jersey offices.

1. Product Costing & Inventory Valuation

• Develop and maintain standard costs for all products and SKUs.
• Review and update Bills of Materials (BOMs), routings, and overhead absorption rates.
• Analyze material, labor, and overhead costs impacting product profitability.
• Ensure accurate inventory valuation in compliance with GAAP and company policies.
• Monitor costing master data and coordinate updates with Supply Chain and Manufacturing teams.

2. Manufacturing Cost Analysis

• Conduct detailed analysis of manufacturing costs across plants and production lines.
• Analyze production efficiencies, yield losses, scrap, and variances.
• Review batch-level cost performance and identify cost reduction opportunities.
• Evaluate impact of production changes, capacity utilization, and process improvements on product costs.
• Prepare periodic manufacturing performance reports for management.

3. Cost Variance Management

• Analyze and report:
• Material Purchase Price Variances (PPV)
• Usage Variances
• Labor Variances
• Manufacturing Overhead Variances
• Yield and Scrap Variances
• Partner with Operations and Procurement teams to identify root causes and corrective actions.
• Track realization of cost savings initiatives.

4. Budgeting & Forecasting

• Lead preparation of annual manufacturing cost budgets.
• Develop cost forecasts and monitor performance aProductst budgets.
• Support monthly forecast updates and long-range planning activities.
• Analyze cost drivers and volume impacts for forecasting purposes.
• Prepare fixed versus variable cost analysis.

5. Profitability Analysis

• Perform product, customer, and channel profitability analyses.
• Assess gross margin trends and key business drivers.
• Support pricing decisions through cost and margin evaluations.
• Provide scenario modeling and what-if analyses for new products and business opportunities.

6. Month-End & Financial Reporting

• Support monthly, quarterly, and annual financial close processes.
• Review inventory reserves, revaluations, and cost accruals.
• Reconcile manufacturing and inventory-related accounts.
• Ensure completeness and accuracy of cost accounting entries.
• Prepare management reports explaining cost and margin variances.

7. Operational Business Partnering

• Partner with Manufacturing, Supply Chain, Procurement, and Quality teams.
• Support make-versus-buy decisions.
• Evaluate capital expenditure proposals and ROI analyses.
• Participate in plant review meetings and operational improvement initiatives.
• Provide financial guidance for process optimization projects.

8. ERP & Costing Systems Management

• Maintain costing structures within SAP or other ERP systems.
• Ensure integrity of master data affecting product costs.
• Participate in ERP enhancements and process improvement projects.
• Develop cost reporting dashboards and automated reporting tools.

9. Internal Controls & Compliance

• Ensure compliance with company policies and accounting standards.
• Support internal and external audits.
• Establish and monitor controls around inventory and costing processes.
• Maintain documentation of costing methodologies and assumptions.
• Ensure SOX compliance where applicable.

10. Royalty Accounting & Trading Partner Settlements

• Calculate, validate, and process royalty payments due to licensing partners, distributors, and trading partners in accordance with contractual agreements.
• Review sales data and contractual terms to ensure accurate royalty accruals and settlements.
• Prepare monthly and quarterly royalty provisions and reconciliations.
• Coordinate with Commercial, Business Development, Legal, and Accounts Payable teams to ensure compliance with licensing and distribution agreements.
• Analyze royalty impact on product profitability, gross margins, and standard costs.
• Support audits and provide documentation related to royalty calculations and partner settlements.
• Maintain royalty trackers and monitor contract compliance, minimum guarantees, milestone obligations, and payment schedules.
• Ensure timely reporting and payment to trading partners and licensors

Required Skills

• 5+ years of direct experience in financial analysis, reporting, and accounting leadership
• 3 years of experience in product costing
• Monthly travel; up to 4 days to Indiana per month.
• Degree in Finance or Accounting (MBA, CMA, or CPA)