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Cost Accounting Specialist

3 months ago

Whitby, Canada Thermo Fisher Scientific Full time

Position Overview:

The Financial Analyst role at Thermo Fisher Scientific is pivotal in managing and analyzing financial data to ensure accurate reporting and compliance with contractual obligations. This position is tasked with establishing work center rates, determining product standard costs, and setting pricing strategies as per the Master Service Agreements (MSA). Furthermore, the analyst will be responsible for inventory valuation and ensuring the integrity of data within SAP master databases, while also scrutinizing the Gross Margin Report to detect variances between actual results and established standards.

Core Responsibilities:

  • Execute month-end closing activities, including reconciliation of Cost of Goods Sold, revenue assessments, inventory reconciliations, accruals, and balance sheet account reconciliations.
  • Formulate standard costs, annual rates, and conduct cost rollup. Input relevant data into SAP and perform continuous analysis.
  • Serve as the primary liaison for cost-related inquiries and accounting investigations.
  • Assist in both internal and external audit processes.
  • Lead initiatives aimed at Financial Operational Excellence and Continuous Improvement.
  • Project future revenue, material needs, and labor hours while reviewing material consumption and managing excess inventory.

Qualifications:
A degree in Accounting or Business Administration is required, with a preference for candidates holding a Finance/Accounting designation. A minimum of three years' experience in cost accounting is essential, preferably within the pharmaceutical sector. Proficiency in Microsoft Excel, SAP, and other financial reporting tools is expected.

Skills and Competencies:
Proven experience in delivering financial data support, alongside strong analytical capabilities and problem-solving skills. Excellent organizational abilities, meticulous attention to detail, and proficiency in English are necessary.

Work Expectations:
Adhere to safety protocols and procedures, collaborate effectively with team members, maintain an organized workspace, and comply with quality standards. Engage actively in process enhancements and problem-solving initiatives, while striving for continuous skill and knowledge improvement.

Physical Demands:
This role may involve light physical activity and occasional use of equipment. The work environment is typically comfortable and indoors, with Personal Protective Equipment required in specific scenarios.

Note:
This job description outlines the essential functions and requirements of the role. Additional responsibilities may be assigned by management as necessary.