Analyst Product Costing I - #1400494

Job Summary

With guidance from Manager, provides financial decision support to project teams in the New Product Development stage-gate process. Analyses includes inputs from both U.S. and international business partners to develop a comprehensive financial model for approval by regional teams, senior leadership and executives. With guidance and direction, prepares cost estimates for new products working with cost information from Purchasing, Contract Manufacturing, Engineering and Global Product Management throughout the NPD process. Provides project teams and management with post-launch analyses at specified touchpoints as determined by leadership via visual data tools (e.g., Tableau and reports on key internal KPI metrics for assigned categories/projects) through management of the product lifecycle. Identifies and investigates data for unusual datapoints. Escalates when appropriate.

Responsibilities

• Cost Estimates & Analysis:
• Prepares and oversees the development of cost estimates for new products with some assistance from Manager. This includes managing the cost estimate activity and reviewing cost information provided by Procurement, Engineering and Process Development throughout the NPD process.
• Proactively manages the cost estimate activity to help ensure on time completion.
• Completes benchmark research to support cost analysis using relevant tools.
• Uses knowledge of historical cost trends to help identify validity and reasonableness of cost components.
• Applies understanding of cost accounting, including procedures and policies, to facilitate the preparation of cost estimates to be used in pricing decisions and analyzing profitability.
• Correctly identifies and clearly communicates relevant cost drivers back to NPD team at the close of cost estimate activities.
• Provides make vs. buy model and relevant decision support as it relates to manufacturing feasibility and profitability for both the U.S. and international subsidiaries.
• NPD Projects Team Member:
• Serves as the Finance representative on various NPD projects as assigned. Responsible for fielding cost questions and obtaining project updates.
• Communicates status of work to manager and escalates issues when necessary.
• Responsible for developing and managing relationships with key NPD participants such as Project Managers and Business Leads.
• Attends Product Leadership Team meetings as necessary to help present cost analyses to leadership for approval at different touchpoints in the stage-gate process.
• Pricing
• Provides corporate, regional and local marketing partners with tools and analyses to evaluate strategic pricing decisions pertaining to new product development.
• Manages Ad-Hoc requests from Global Product Management (GPM) by ensuring the progression of open tasks and addressing and communicating roadblocks with requestors.
• Supports GPM business leads by providing current and/or historic cost, pricing and profitability insights and recommendation for new product pricing or pricing strategy decision making.
• In partnership with GPM, helps develop best practices for new product target and price setting.
• Responsible for developing and maintaining product and pricing tools through partnership with IT, outside vendors, and other internal partners as needed.
  

Experience: 1+ years

Field of Experience: 0-2 years of experience in financial analysis; knowledge and understanding of New Product Development Financial assessment in a retail or consumer product business.

Education: Bachelor/University Degree

Education Focus: Economics, Statistics, Business Administration, Accounting, Finance, Market Research, Marketing or other business-related discipline. A post-graduate degree and/or previous experience in an analysis or financial reporting role in a retail, consumer packaged goods, or direct selling environment preferred.

Additional Skills & Abilities

• Strong PC skills with proficiency using MS Office applications, especially Excel, Access and PowerPoint, including the use of pivot tables, subtotals and similar advanced Excel functionality.
• Strong analytical and math skills to resolve complex tasks, along with a high focus on attention to detail to manage multiple financial inputs from both U.S. and International business partners.
• Experience using Tableau beneficial, but not required.
• Knowledge of JD Edwards beneficial, but not required.
• Communication and diplomacy skills to interact at all levels with non-financial areas within the Company, as well as markets where cultural differences exist.
• Knowledge and experience of the cosmetics industry preferred but not required.
• Must have or demonstrate the ability to quickly attain an understanding of Mary Kay’s international markets, Mary Kay’s manufacturing operations worldwide and other critical cultures. Solid knowledge of or the demonstrated ability to quickly learn the Mary Kay products, project processes and business fundamentals is required.
• Inquisitive, innovative, adaptable to change and possessing the aptitude to approach problems from various viewpoints.
• Ability to discern the reasonableness of inputs provided and loop back with functional business partners, as needed.
• Requires the ability to work with a sense of urgency on select ad hoc requests and projects, supporting speed to market.
• Requires the ability to develop a thorough understanding of the Company’s product offerings and internal data sources to effectively develop reports.