The Cost Controller is responsible for the integrity and accuracy of Costing of all Lubricants Finished Product and Raw Materials, and the accurate maintenance of these costs in SAP, while ensuring all stock movements through the Inventory sub-ledger is reflected at the correct cost and is valid, complete and accurate for all the third party toll-blenders.
This role is responsible for the month-end GL close activities related to stock valuation, Cost of Goods Sold (Cogs) variance analysis, and presentation of the monthly Cogs results to the USA Lubricants Business. The Cost Controller also interfaces with the Accounting team in the offshore shared-service center on Costing and Inventory issues and must be integrally involved in any process improvement initiatives and projects that could streamline the recording and reporting of Cogs and Inventory Transactions.
Additionally, the role is the central finance representative to the Supply Chain Third Party operations team in representing BP Lubricants to the third party.
- Provide guidance, explain concepts and monitor deliverables for the cost accounting team in the shared-service centers (Global Business Service Center (GBS)/Accenture).
- Manage GBS to ensure robust maintenance of Product Master Data across different sources of Supply. Full understanding of Product Cost Transfer Pricing (PCTP) methodology to ensure correct application and reporting of Cogs.
- Develop insightful Management Information to enable sound decision making by key business stakeholders. This includes the monthly transfer price validation, costing error management, etc.
- Accountable for ensuring robust control over the rebill process (sale of raw materials and buy-back of the equivalent finished goods). This will include working closely with third party operations team in driving the controls associated with the rebill process, such as price list validity, loss factor tolerances, input-output controls, raw materials reconciliation, etc.
- Conducts thorough cost analysis which includes analyzing process orders and the daily Moving Average Price Exception Report Analysis.
- Maintain and coordinate monthly performance reporting with insights into the actual reported results.
- Central finance representative (together with Senior Cost Accountant) to Supply Chain third party operations team in providing dedicated support to the toll-blenders. Provides necessary coaching and guidance based on the functional expertise relevant to financial and operational controls. Examples are demurrage, logistics costs, in-transit stock monitoring, vendor consignment inventory, etc.
- Physical inventory verification for the third party toll-blenders (excluding rebill sites) to validate the book stock record, across all types of inventory such as raw materials, WIP, finished goods, component packaging. This will be required for associated storage locations too.
- Drive the action with Supply Chain on disposal of slow moving and non-saleable product in a timely manner.
- Develop relevant cost studies to support the growth agenda of the USA business.
- Provide backfill and cover for the USA Accounting & Reporting team to enhance business continuity resilience.
- Lead on business process mapping, which will support the standardization, automation and improvement of processes and reporting systems across the business.
- Assist with projects and requests to support value-add to the lubricants business and shared-service center.
Accounting, Cost Accounting, Finance Degree/CIMA, or equivalent required.
- Minimum 5 years relevant experience in Cost accounting in a manufacturing environment.
- Strong analytical and financial skills are critical, with proven experience in analysis and interpretation of financial data key.
- Highly motivated and high performing, with the ability to present a structured, methodical approach to problem solving.
- Track record of supporting Continuous Improvement in a current or prior business/professional roles.
- Advanced knowledge of Microsoft Office, particularly Excel.