Cost Accounts Lead

Oman Investment Authority

Main Tasks & Accountabilities

Product & Standard Costing

• Lead the preparation, maintenance, and review of standard costs for all product lines across Farm, CPP, and Sales.
• Establish and update standard labor, overhead, and material rates, ensuring alignment with operational realities.
• Oversee standard cost roll-ups, revaluations, and periodic updates in coordination with operations.
• Ensure accurate cost inputs to pricing, product mix, and margin analysis.

Inventory & Cost Control

• Oversee inventory costing and valuation for raw materials, work-in-process, finished goods, and farm inventory.
• Ensure inventory balances are accurately reconciled to the general ledger and comply with accounting standards and company policies.
• Monitor inventory movements and cost components to identify valuation risks, obsolescence, or inefficiencies.
• Strengthen cost control processes and internal controls related to inventory and production costs.

Cost Analysis & Performance Monitoring

• Lead variance analysis covering material usage, labor efficiency, overhead absorption, yield, and sales margins.
• Monitor and analyze monthly operating results against budget, forecast, and prior periods.
• Identify cost drivers, trends, and gaps, and provide actionable insights to management.
• Drive cost reduction tracking, validation, and performance reporting.

Management Reporting & Decision Support

• Prepare and maintain cost MIS, dashboards, and management reports for Farm, CPP, and Sales.
• Provide cost and margin analysis to support pricing decisions, promotions, and product profitability reviews.
• Partner with the decision support and budgeting teams to ensure accuracy of cost assumptions in budgets and forecasts.
• Support business cases related to new products, product investments, and process improvements.

Compliance

• Ensure that prescribed accounting standards and established rules and regulations are followed while estimating standard costs for products and inventory value
• Validate integrity of financial modeling utilized
• Comply with IFRS requirements
• Comply with local, state, and federal government reporting requirements and tax filings
• Coordinate for providing information to external auditors for the annual audit

Team Building Planning, acquisition and mentoring

• Forecast staff requirements for the department, plan budget and get requisite approval
• Define knowledge/skillsets required
• Effective communication within and outside the team
• Create a supportive environment for the team members
• Contribute to the team, letting others know information that may be useful or important
• Help to create a fun, supportive work environment

People management and reporting responsibilities

• Participate in management and supervisory meetings as and when required to provide financial overview
• Ensure accurate and up to date, daily, weekly, monthly records as required by the management.
• Ensure tasks are understood by the team members, and performed responsibly and diligently
• Help others in the team if needed; Support relief staff in their duties

Main Contacts and Working Relationships

• Internal All Department Heads and Line Managers.
• External Stakeholders, customers, agencies etc.