Cost Analyst

Woodward, Inc.•Niles, IL

4d•$72,000 - $115,000•Hybrid

About The Position

Woodward is committed to creating a great workplace for all team members. Our company and its members are committed to acting with integrity, being respectful and accountable to one another, and staying humble and driven, while maintaining the highest professional and ethical standards. We are steadfastly committed to attracting the best talent across our communities, creating a rewarding workplace. Together we are fulfilling our purpose to design and deliver energy control solutions our partners count on to power a clean future. Woodward supports our members’ wellbeing and regularly benchmarks with other companies in our industry to offer an extensive Total Reward package for this position. Salary will be determined by the applicant's education, experience, knowledge, skills, and abilities, as well as internal equity and alignment with market data. Estimated annual base pay: $72,000(minimum) - $93,000(midpoint) - $115,000(maximum) All members included in annual cash bonus opportunity 401(k) match (4.5%) Annual Woodward stock contribution (5%) Tuition reimbursement and Training/Professional Development opportunities for all members 12 paid holidays, including floating holidays Industry leading medical, dental, and vision Insurance upon date of hire Vacation / Sick Time / Vacation Buy-up / Short Term Disability / Bereavement leave Paid parental leave Adoption Assistance Employee Assistance Program, including mental health benefits Member Life & AD&D / Long Term Disability / Member Optional Life Member referral bonus Spouse / Child Optional Life / Optional AD&D / Healthcare and Dependent Care Flexible Spending Voluntary benefits, including: Home / Auto Insurance discounts Whole Life Insurance / Critical Illness Insurance / Legal Assistance / Military Leave What does it mean to be part of Woodward? It means contributing to what matters most in your career, in your community and around the world. It means being a part of rewarding experiences, where innovation, collaboration and problem-solving are at the heart of what we do. Explore our open positions and apply today. Woodward is the global leader in the design, manufacturing, and service of energy conversion and control solutions for the aerospace and industrial equipment markets. Together with our customers, we are enabling the path to a cleaner, decarbonized world. Our innovative fluid, combustion, electrical, propulsion and motion control systems perform in some of the world’s harshest environments. At Woodward we have created a culture that appreciates and values the contributions of every member. We are a global team of curious, innovative problem-solvers who commit our knowledge, resources and technical expertise to the challenges associated with reducing emissions, enabling alternative energy sources and increasing efficiency, always innovating for a better future. Woodward is working with our customers to solve some of the world’s biggest energy challenges. This important work needs more than just the brightest technical minds. It requires talented and committed manufacturing professionals, accountants, supply chain managers, human resources experts, information technology specialists and many more. We are looking for dedicated people who want to learn and grow in a supportive environment that fosters collaboration, innovation and inclusion.

Requirements

Financial analysis skills: Ability to perform detailed financial and cost analysis, leveraging financial tools and software to ensure accurate insights.
Manufacturing costing expertise: Strong understanding of manufacturing processes, including BOMs, labor allocation, and overhead costs, to accurately assess and optimize costs.
Quantitative analysis: Strong analytical skills and the ability to work with large datasets to generate actionable insights.
Process optimization: Ability to identify inefficiencies in cost structures and recommend solutions to improve profitability and productivity.
Data analysis and visualization: Proficiency in using data analysis tools and techniques to present costing insights and recommendations effectively.
Communication skills: Ability to clearly and effectively communicate complex costing information to technical and non-technical audiences.
Collaborative skills: Proven ability to work with cross-functional teams and build strong working relationships across departments.
Attention to detail: Exceptional attention to detail with the ability to identify discrepancies in costing and financial data.
Business acumen: Solid understanding of the manufacturing industry, market trends, and operational dynamics.
Project management: Strong organizational skills, with the ability to manage multiple tasks, meet deadlines, and prioritize effectively.
Bachelor’s degree in finance, economics, business or related field
5-7 years of manufacturing experience
Advanced Excel skills
Power BI experience
SAP or S4 experience
Analytical mindset
Ability to work independently with minimal supervision

Responsibilities

Conduct in-depth cost analysis by reviewing Bills of Materials (BOM), labor time, and rates to identify opportunities for cost optimization and recommend strategies to improve financial results.
Monitor and report on key performance metrics related to costing and provide actionable recommendations to drive continuous improvement and operational efficiency.
Execute day-to-day standard costing processes, ensuring accurate cost allocation and adherence to established costing methodologies.
Collaborate with cross-functional teams, including production, procurement, engineering, and finance, to develop cost models that support manufacturing and business objectives.
Develop and refine cost estimation tools and models, ensuring alignment with business goals and industry best practices.
Provide detailed cost breakdowns and variance analysis to support decision-making and identify cost-saving opportunities.
Support new product development by providing accurate cost projections and input on cost control measures.

Benefits

All members included in annual cash bonus opportunity
401(k) match (4.5%)
Annual Woodward stock contribution (5%)
Tuition reimbursement and Training/Professional Development opportunities for all members
12 paid holidays, including floating holidays
Industry leading medical, dental, and vision Insurance upon date of hire
Vacation / Sick Time / Vacation Buy-up / Short Term Disability / Bereavement leave
Paid parental leave
Adoption Assistance
Employee Assistance Program, including mental health benefits
Member Life & AD&D / Long Term Disability / Member Optional Life
Member referral bonus
Spouse / Child Optional Life / Optional AD&D / Healthcare and Dependent Care Flexible Spending
Voluntary benefits, including: Home / Auto Insurance discounts Whole Life Insurance / Critical Illness Insurance / Legal Assistance / Military Leave