Cost Accountant

Responsible for overseeing the cost management function, which includes analysing financial data to identify cost reduction opportunities and maintain a competitive expense ratio. The role also involves coordinating the budget preparation, consolidation, and monitoring process.

Requirements

Education Requirements:

• A bachelor’s degree in finance, Commerce, Accounting, Business Administration, and Statistics.
  
• Professional qualifications in CIMA, CPA or ACCA.
  

Work Experience:

• A minimum of 4 (four) years of Cost Accounting and Analytics Environment.
  
• Certification in Cost control and Business Intelligence/Analytics courses is an added advantage.
  

How to Apply:

Interested individuals should follow, Click Here to fill out the application form and also send copies of their application letter, curriculum vitae and academic qualifications as one pdf document, addressed to the Chief People and Culture Officer to recruitment@nssfug.org

Accounting Operations:

• Ensure that the accounting procedures are followed and provide recommendations to improve the finance processes.
  
• Designing and maintaining an effective Cost Accounting System.
  

Cost Control and Performance Analysis:

• Prepare monthly expenditure reports for budget holders and management and coordinate the compilation of credible comments (variance analysis) from the budget holders and cost control team.
  
• Ensure budget/performance monitoring and reporting. Track budget variances and challenge budget owners on any deviation from the approved cost baseline.
  
• Undertake value-for-money process reviews and analyses for the identified major business processes.
  
• Review operating expenditure invoices to ensure budget availability and proper cost allocation.
  
• Organize regular cost review meetings with budget holders to identify opportunities to improve budgetary control.
  
• Establish appropriate coordination with other project functions to ensure compatibility with the cost control requirements and timely flow of the information.
  
• Ensure that potential budget overruns are anticipated, and corrective measures are in place to ensure the recoverability of all costs.
  
• Identifying and analysing cost information to detect trends and propose control action.
  
• Develop and maintain an Analytical Database to monitor expenses within the Fund.
  
• Analysing the profitability performance of various initiatives and products or segments within the Fund.
  

Budget Preparation Exercise:

• Coordinate the preparation and consolidation of the Fund’s annual budget for review and approval by Exco and the board.
  
• Preparation of budget schedules or calendars, preparing budgeting templates, supporting departments as they prepare their budgets, and reviewing departments’ budget submissions.
  
• Preparation of the budget papers for both Exco and board review as well as a budget paper for approval by the minister.
  
• Prepare analyses to guide the budget holders regarding trends and pricing for various activities within the budget. This will be in collaboration with budget holders to provide more context.
  
• Provide technical guidance with regards to the budgeting system to all staff involved in the budgeting process at the Fund.
  
• Hold internal sensitizations and training in regard to budgeting and cost control measures.
  

Stakeholder Engagement and Collaboration:

• Engage with different stakeholders in and out of the Fund to facilitate the achievement of departmental and organizational objectives.
  
• Lead discussions with managers on cost structure to reach the best compromise between cost monitoring needs and accounting and system constraints.
  
• Support the Procurement and Disposal Unit with the annual market survey to determine the market prices for the Fund’s major consumables.
  
• Engage in the preparation of both the annual integrated report and the annual ESG /Sustainability report of the Fund.