Head of Cost Management at Origin Tech Group

Origin Group operates in some major industries such as agriculture, manufacturing, civil engineering, automobile, logistics and hospitality across 4 continents. Through innovation and resourcefulness, we are harnessing our nation’s physical and human resources to create value for the average consumer.

We are recruiting to fill the position below:

Job Title: Head of Cost Management

Location: Lagos
Employment Type: Full-time
Reports to: Chief Financial Officer (CFO) / Finance Director

Job Overview

• The Head of Cost Management is responsible for developing, implementing, and managing cost control systems and procedures to ensure that the company operates efficiently and profitably. This role involves strategic planning, analysis, and collaboration with various departments to manage costs effectively. The ideal candidate will have a strong financial background, excellent analytical skills, and a proactive approach to cost management.

Key Responsibilities
Cost Management Strategy:

• Develop and implement a comprehensive cost management strategy aligned with the company’s overall financial goals.
• Establish cost control and reduction objectives, policies, and procedures to optimize the company’s cost structure.
• Identify and evaluate cost-saving opportunities across all departments and operations.

Budgeting and Forecasting:

• Lead the budgeting process, working closely with department heads to develop accurate and realistic budgets.
• Monitor budget performance and provide regular reports to the executive team on cost variances and financial performance.
• Develop and maintain financial models and forecasts to support decision-making and long-term planning.

Cost Analysis and Reporting:

• Conduct detailed cost analysis to identify areas of inefficiency and recommend corrective actions.
• Prepare and present comprehensive cost reports, including cost-benefit analyses, profitability analysis, and cost benchmarking.
• Provide insights and recommendations to improve cost efficiency and profitability.

Process Improvement:

• Evaluate existing processes and systems to identify opportunities for cost reduction and process optimization.
• Implement best practices in cost management and drive continuous improvement initiatives.
• Collaborate with cross-functional teams to streamline operations and enhance productivity.

Supplier and Vendor Management:

• Work with the procurement team to negotiate favorable terms and pricing with suppliers and vendors.
• Evaluate supplier performance and ensure that the company receives value for money in all purchasing activities.
• Implement cost-effective purchasing strategies and manage supplier relationships to optimize costs.

Risk Management:

• Identify and assess financial risks related to cost management and develop strategies to mitigate these risks.
• Ensure compliance with financial regulations and internal controls related to cost management.
• Develop and maintain a cost management risk register and report on risk management activities.

Team Leadership and Development:

• Lead and manage the cost management team, providing guidance, training, and support to team members.
• Foster a culture of accountability, efficiency, and continuous improvement within the team.
• Conduct performance reviews and provide feedback to support the professional growth of team members.

Collaboration and Communication:

• Work closely with other departments, including operations, procurement, and finance, to ensure alignment on cost management goals.
• Communicate cost management strategies and initiatives to stakeholders at all levels of the organization.
• Act as a trusted advisor to the executive team on cost management and financial performance.

Qualifications

• Bachelor’s Degree in Finance, Accounting, Business Administration, or a related field. A Master’s degree or professional certification (e.g., CPA, CIMA) is preferred.
• Proven experience (typically 10+ years) in cost management, financial analysis, or a related role, with at least 5 years in a leadership position.
• Strong knowledge of cost management principles, budgeting, and financial analysis.
• Excellent analytical and problem-solving skills, with a strong attention to detail.
• Proficient in financial modeling, forecasting, and using financial management software.
• Exceptional leadership and team management skills, with the ability to inspire and motivate a team.
• Strong communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
• Experience in [specific industry or domain relevant to the company, e.g., manufacturing, construction, healthcare] is a plus.

Preferred Qualifications:

• Advanced knowledge of ERP systems and financial software (e.g., SAP, Oracle, QuickBooks).
• Experience in project management and process improvement methodologies (e.g., Six Sigma, Lean).
• Knowledge of international cost management practices and regulations.

Benefits

• Salary: N800,000 monthly.
• Competitive salary and performance-based bonuses.
• Comprehensive health insurance
• Professional development opportunities and training programs.
• A dynamic and collaborative work environment and so much more

Application Closing Date
31th September, 2024.