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Cost Analyst Job Description

Our Cost Analyst job description includes the Cost Analyst responsibilities, duties, skills, education, qualifications, and experience.

Cost Analyst Example


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If you need an example job description for a Cost Analyst download the one below, alternatively we have many other Analyst job description samples and a job description library with over 3000 job descriptions templates that you can download for free.

What does a Cost Analyst do?

The role of a cost analyst is to examine and manage the expenses of a company. These highly-analytical specialists study a company's costs and report analysis to management. Their main tasks include tracking project budgets, establishing product costs, and analysing changes in company costs.

Cost Analyst Role

We are recruiting for an analytical Cost Analyst to join our finance team. As Cost Analyst you will be responsible for preparing statements and reports, overseeing audit files, attending meetings to provide financial feedback, and training employees in cost management methods.

To succeed as a Cost Analyst, you will possess an in-depth knowledge of accounting and cost-management systems, as well as basic computer software. The successful candidate will also be an excellent communicator, with superb presentation and problem-solving skills.

Cost Analyst Duties

  • 3 – 5 years’ proven experience as an analyst in supply chain or finance.
  • Excellent analytical, mathematical, and problem-solving abilities.
  • Superb communication and presentation skills.
  • Aptitude to succeed in a stressful and deadline-oriented environment.
  • Solid understanding of Information Systems and MS Excel.
  • Bachelor’s degree in Finance, Business or relevant field.

Cost Analyst Requirements

  • Recommend changes in operating procedures to improve efficiencies in payment and procurement processes.
  • Offer analytical support for departmental projects.
  • Coordinate with management to ensure cost forecasting reports are consistently chequed.
  • Monitor and document actual and estimate reports.
  • Keep up to date on project budgets and project spending.
  • Examine data to help with reducing cost in all operations.
  • Analyse the market and identify opportunities for growth and potential risks.
  • Contribute in developing yearly operation plans, budgets, and estimating new product costs, including economic analysis.
  • Give suggestions for money-saving strategies.
  • 3 – 5 years’ proven experience as an analyst in supply chain or finance.
  • Excellent analytical, mathematical, and problem-solving abilities.
  • Superb communication and presentation skills.
  • Aptitude to succeed in a stressful and deadline-oriented environment.
  • Solid understanding of Information Systems and MS Excel.
  • Bachelor’s degree in Finance, Business or relevant field.

How to write a Cost Analyst Job Advert

Use our job advert template to write a job advert for posting on job sites and job boards. Our job advertising templates are carefully created to help you reach your audience and beat the competition to the best talent.

A job description informs the reader about a job, whereas a job advert’s main objective is to sell the job opportunity to attract as many suitable applicants possible. A job advert maybe the first touch-point a candidate has with your company so it is important to create a great impression.

Job Advertisements should enticing, so considering using short, exciting language which get the reader’s attention.

How to write a Cost Analyst Job Description

To write a job description, we recommend starting with a job description template from our job description library, which contains examples for 800+ positions and professions. Our job description examples include a job summary with duties and responsibilities and skills and requirements, which can be personalised for your job vacancy.

Job Description Advice - Guidance on How to Personalise a Cost Analyst Job Specification

The hiring process and recruiting new employees to fill your key roles requires a degree of personalisation if you are to attract the best employees in a competitive employment market. The right person for a crucial role or more senior roles will likely have other employers targeting them. As your job description will be the first point of contact, you need to nail your pitch and provide the best possible service.

Job Description Tips - Help on formatting a Cost Analyst Job Specification

When creating your bespoke description and advert, you should cover and promote these points:

Job title: This should accurately reflect the role and include keywords that top talent might be using to search for jobs.

Job duties: The day to day duties, such as administrative tasks, which vary depending on the company and inform the candidate if they can complete the role.

Technical skills: These are the hard skills required through training, such as proficiency with Microsoft Office.

Soft skills: These include the interpersonal skills and general abilities the right candidates will possess. For example, the competency to prioritise multiple tasks, handle customer queries and customer complaints, work alone, or build a good relationship with coworkers.

The company's culture: Highlighting your company culture and values ensures employees thrive and find outstanding job satisfaction. Candidates that are not the right fit won’t waste their time completing the application process, meaning you can focus on qualified individuals and hire in a more timely manner.

Career progression: Including the career path will entice candidates looking for career growth. 

Training and development programs: Smaller companies may need employees with previous experience or provide educational assistance over internal training offered by larger organisations with more significant resources. 

Employee benefits: Compensation and benefits often fail to appear in job ads and while you may want to hold your cards close to your chest, failing to include them is a mistake. Consider answering common questions, such as working hours and paid leave. Researching the average salary for the role in these early stages will ensure you don’t waste your interviewer’s and the candidate’s time.

Skill gaps: Your company may need to bring in new skills beyond those required to complete the key role and duties. Thinking on an organisational level can be beneficial when contemplating skills diversity.

Legal requirements: Ensure your job advert and description does not ask for inappropriate or discriminatory personal details, such as age, marital status, or religion.

How to Hire a Cost Analyst

Once you have selected your Job Description download it or convert it to a Job Advert. From here you can post/advertise your job across our network of job boards. If you wish to use the job description for a CV Template click through for advice and Convert to a CV

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