Sr. Cost Accountant

Job Location - Jubail, Saudia ArabiaPosition OverviewThe Senior Cost Accountant is responsible for managing, analyzing, and controlling all cost-related activities within the organization. The role requires strong expertise in SAP (FI/CO, MM, PP modules), cost allocation, variance analysis, and financial reporting. The Senior Cost Accountant ensures accurate cost data, supports management decisions with analytical insights, and drives continuous improvement in cost efficiency and profitability.Key Responsibilities1. Cost Accounting & AnalysisPerform detailedcost analysisfor products, projects, and services.Maintain and monitorstandard costs, BOM (Bill of Materials), and routing updates in SAP.Conduct monthlycost variance analysis(material, labor, overhead) and investigate deviations.Review and validateinventory costing, production orders, and WIP valuations.Support costing fornew products, new projects, and changes in manufacturing processes.2. SAP Financial OperationsManage costing activities usingSAP FI/CO, MM, and PP modules.Ensure accurate data flow frommaterial master, cost centers, activity types, work centers,and BOM.PerformSAP month-end closingincluding settlement of production orders, cost centers, and internal orders.Generate and analyze SAP reports such asCK11N, CK40N, MB5B, KSB1, KSBT, S_ALR Reports, and more.3. Budgeting & ForecastingParticipate in the preparation ofannual budgets, rolling forecasts, and cost estimates.Monitor actual costs versus budget and present monthly variance reports.Assist management withcost simulations, what-if analysis,and cost reduction opportunities.4. Internal Controls & ComplianceEnsure compliance withIFRS, internal policies, and audit requirements.Maintain strong cost accounting controls in SAP to ensure data accuracy and transparency.Coordinate with internal and external auditors on cost and inventory-related matters.5. Cross-Functional CollaborationWork closely withproduction, procurement, engineering, and financeteams to ensure accurate cost data.Support projects related to process improvement, SAP enhancements, and system automation.Provide financial insights to assist management with decision-making.Qualifications & RequirementsBachelor's degree inAccounting, Finance, or Cost Management(CMA or CPA preferred).5–7 years of experiencein cost accounting, preferably in manufacturing, industrial, or project-based environments.Strong SAP experiencein FI/CO, MM, PP modules is mandatory.Strong analytical, problem-solving, and financial modeling skills.Proficiency inExcel(pivot tables, formulas, dashboards).Excellent communication and report-writing skills.Key CompetenciesAttention to detail and high accuracy.Ability to work under pressure and meet deadlines.Strong understanding of costing concepts (standard costing, absorption costing, activity-based costing).Business acumen and ability to partner with operations.Initiative and ability to drive cost optimization.Why Join Alfanar ProjectsSince ****, we've grown and diversified our business to meet the evolving needs of a changing world. Alfanar Projects is an integrated global project developer and engineering, construction, and technology solutions provider with a robust portfolio of landmark projects across the energy, water, and infrastructure sectors.From Saudi Arabia to the rest of the world, we work closely with governments and partners to deliver strategic projects that support national goals and long-term visions. Our work directly contributes to sustainable development and infrastructure modernization in multiple countries.At the heart of our success are more than 10,000 professionals, diverse, skilled, and united by purpose. Our global teams are committed to delivering impact-driven solutions that shape a better, more sustainable future.Seniority LevelMid-Senior levelIndustryConstructionEmployment TypeFull-timeJob FunctionsBusiness DevelopmentConsultingSkillsVision DevelopmentProblem SolvingAnalytical SkillsStrategyKey Performance IndicatorsPresentationsStrategic InitiativesEmerging TechnologiesMarket ResearchCompetitive