Price Cost Analyst/Sub-Contract Auditor - Early Career

Lockheed Martin•Fort Worth, TX

3d•Hybrid

About The Position

By bringing together people that use their passion for purposeful innovation, at Lockheed Martin we keep people safe and solve the world's most complex challenges. Our people are some of the greatest minds in the industry and truly make Lockheed Martin a great place to work. With our employees as our priority, we provide career opportunities designed to propel development and boost agility. Our flexible schedules, competitive pay, and comprehensive benefits enable our employees to live a healthy, fulfilling life at and outside of work. At Lockheed Martin, we place an emphasis on empowering our employees by fostering innovation, integrity, and exemplifying the epitome of corporate responsibility. Your Mission is Ours. Lockheed Martin Aeronautics is seeking a full-time Early Career Price Cost Analyst/Sub-Contract Auditor to assist in evaluating the financial records, cost structures, and business systems of defense contractors. This role provides foundational experience in government contract compliance, accounting standards, and financial analysis while supporting audit engagements under supervision. The Sub-Contract Auditor assists in reviewing indirect rates, labor rates, escalation factors, and pricing assumptions used in contractor cost proposals and forward pricing submissions. You will contribute to audit and pricing analyses, developing technical skills in cost evaluation and financial assessment. In this dual-role position, you will also gain experience supporting Price Cost Analyst responsibilities, including cost and pricing analyses, supplier evaluation, and contract support. Mentorship and training from senior auditors will provide a strong foundation for growth in audit and pricing disciplines. ________________________________________

Requirements

Bachelor’s degree in Accounting from an accredited college or university, including auditing coursework. The degree must include at least 120 semester hours in accounting-related subjects such as financial accounting, managerial accounting, and auditing.
Internships, academic projects, or other practical experience in audit, cost accounting, or financial analysis are applicable.
Candidates should demonstrate basic knowledge of financial principles and a willingness to learn and grow in a professional setting.
Must be able to travel to supplier sites on short notice, typically 40–50%, including domestic and occasional overseas assignments.
Ability to work extended hours during peak audit periods
Flexibility to manage multiple concurrent engagements
Foundational analytical, quantitative problem-solving, and critical thinking skills
Attention to detail and commitment to data accuracy
Clear written and verbal communication and effective team collaboration
Strong organizational, research, and time management skills with the ability to handle multiple tasks
Professional skepticism, high ethical standards, integrity, and accountability
Adaptability, willingness to learn, and openness to guidance, feedback, and mentoring as a mentee
Ability to work effectively in fast-paced, team-oriented environments
Enthusiasm for developing audit, cost, and pricing expertise
Must be a US Citizen; this position will require a government security clearance.
This position is located at a facility that requires special access.

Nice To Haves

Internships or practical experience in audit, finance, or cost analysis
Certified Public Accountant (CPA) coursework or study (preferred)
Knowledge of basic risk management and data analytics concepts
Graduate coursework in accounting, finance, or business (preferred)
Introductory understanding of cost allowability and allocability principles
Basic familiarity with Cost Accounting Standards (CAS)
Exposure to federal acquisition and defense acquisition regulations
Support for indirect rate and cost structure analysis
Assist with indirect rate pools and allocation bases
Support Forward Pricing Rate Proposals (FPRPs)
Understand basic labor rate development and escalation modeling
Assist with business base forecasting and productivity assumptions
Exposure to cost accounting systems and ERP environments
General ledger to proposal traceability support
Basic financial and trend analysis
Assist with audit documentation and workpaper preparation
Learn risk-based and substantive testing methodologies
Excel skills and basic data analysis
ERP or cost systems (e.g., Deltek, SAP, Oracle) familiarity
Audit or analytics tools (e.g., CaseWare, ACL, IDEA, Power BI, Tableau) exposure
Basic understanding of GAAP and applicable accounting standards
Introduction to Government auditing standards (GAGAS)
Awareness of internal control frameworks and regulatory compliance

Responsibilities

Assist with financial and contract audits under supervision
Support evaluation of cost proposals, forward pricing submissions, and indirect rates
Help review supplier accounting systems and internal controls
Audit supplier financial documents and records, including trial balances and general ledger
Validate cost data against financial records and source documentation
Analyze financial datasets under guidance
Verify accuracy of supplier financial statements and cost data
Perform reconciliations and assist with root cause analysis
Prepare audit reports and supporting documentation under supervision
Present results to stakeholders with support
Support compliance with federal cost principles and regulations
Assist in contract negotiations with cost analysis and recommendations
Contribute to developing government pricing objectives
Support audit planning and risk assessments
Assist in cost and price analyses of supplier proposals
Review and validate supplier cost models under supervision
Support supplier and customer negotiations
Prepare reports, charts, and briefings for leadership
Provide insights on cost drivers and pricing opportunities
Maintain awareness of audit standards and government regulations
Participate in training and mentoring programs
Contribute to audit process and technology improvements