About this role
Requisition ID: 29079
City Finance
Group overview:
Headquartered in Riyadh, Saudi Arabia, we operate construction and manufacturing businesses, design & development centers and a host of facilities in the Middle East and other countries.
alfanar is involved in:
- Electrical, Electromechanical and Civil Engineering Construction
- Manufacturing and Marketing Electrical Construction Products
- Allied Engineering Services
Our Main Divisions:
- alfanar electric
- alfanar Construction
- alfanar Building Systems
alfanar electric
alfanar electric is the industrial arm of alfanar, manufacturing a variety of low, medium and high voltage electrical construction products.
alfanar electric operates industries in:
- Riyadh and Jubail, Saudi Arabia
- Dubai, UAE
- London, UK
alfanar has a development and engineering center in Chennai, India.
Industrial Complex, Riyadh
The center of alfanar’s industrial activities is alfanar Industrial Complex situated in the Third Industrial Zone on Al-Kharj Road, Riyadh.
Spread across 700,000 square meters, the Complex houses alfanar’s facilities.
The Complex has a comprehensive infrastructure including a data and communication center as well as a commercial zone.
Job Purpose
To perform manufacturing cost accounting, inventory accounting, and cost analysis while ensuring accurate financial reporting and effective manufacturing cost control.
Key Accountability Areas
Manufacturing Cost Accounting:
- Record, review, and validate manufacturing cost transactions related to materials, labor, overheads, scrap, rework, and production orders.
- Support product costing activities, including standard cost maintenance, BOM costing, routing cost validation, and cost roll-up support.
- Monitor cost allocation to production orders, cost centers, and manufacturing activities.
- Support monthly cost closing activities and ensure accurate cost reflection in financial records.
Inventory & Material Cost Control:
- Support inventory valuation, material consumption analysis, and stock movement validation.
- Review material usage against BOM and highlight abnormal consumption, wastage, or variance.
- Support inventory reconciliations between system records, production reports, and physical stock.
- Assist in cycle counts, stock takes, inventory adjustments, and related variance investigation.
Production Variance Analysis:
- Analyze material, labor, overhead, scrap, rework, and underutilization variances.
- Prepare variance reports by product, production line, cost center, and manufacturing area.
- Coordinate with production, planning, warehouse, and engineering teams to understand variance drivers.
- Highlight unusual cost movements and escalate risks to finance and factory management.
Manufacturing Performance Reporting:
- Prepare regular reports on production cost, conversion cost, material cost, labor efficiency, overhead absorption, scrap, rework, and factory utilization.
- Support preparation of cost bridges, cost trend analysis, and manufacturing KPI dashboards.
- Provide accurate financial inputs for factory performance reviews and management reporting.
- Track actual manufacturing cost against budget, standard cost, and forecast.
Month-End Closing Support:
- Support month-end and year-end closing activities related to manufacturing cost accounting.
- Validate production order settlement, cost center postings, inventory movements, and accruals.
- Prepare supporting schedules for manufacturing cost, inventory, and variance accounts.
- Ensure closing tasks are completed accurately within tight reporting timelines.
Controls, Compliance & Audit Support:
- Follow approved costing policies, internal controls, SOPs, and approval workflows.
- Support internal and external audit requirements related to inventory, costing, and manufacturing expenses.
- Maintain proper documentation for cost calculations, reconciliations, and variance explanations.
- Identify control gaps in manufacturing cost recording and escalate for corrective action.
Role Accountability
HR Proficiency:
- Ability to obtain updated soft and technical skills related to the job.
Delivery:
- Perform the planned activities to meet the operational and development targets as per delivery schedules.
- Utilize resources effectively to achieve objectives within efficient cost and time.
- Provide a periodic report formatted by detailing the deviation and execution of planned tasks.
Problem-Solving:
- Solve any related problems arise and escalate any complex operational issues.
Quality:
- Ensure quality requirements to develop effective quality control and processes including specifications for products or processes or related activities.
Business Process Improvements:
- Coordinate well-defined written systems, policies, procedures, and seek automations opportunities as much as possible.
Compliance:
- Comply to related policy and procedures and work instructions.
Health, Safety, and Environment:
- Ensure compliance of relevant safety, quality, and environmental management procedures and controls within defined area of work activity to guarantee safety, legislative compliance, and delivery of high-quality products/services.
Academic Qualification
Bachelor Degree in Accounting and Finance or Any relevant field
## Work Experience
Fresher - 0-2 years
## Technical / Functional Competencies
Cost Accounting Cost Accounting Best Practices Cost Accounting Systems Cost Analysis Industrial Cost Analysis