Summary
Blooming Wear is hiring a Financial Analyst in Jeddah to monitor and analyze costs, margins, inventory, and spending. The role includes reviewing variances, supporting budgets and forecasts, preparing management reports, and identifying cost-control improvements. Applicants should have a bachelor’s degree in accounting, finance, cost accounting, or a related field, and 2–5 years of relevant experience. Strong Excel skills and experience with ERP systems are required; Power BI and a professional certification such as CMA, ACCA, or CPA are advantageous.
The posting
As published on bloomingwear.com. Pulled from the employer's site and shown as they wrote it.
Job Purpose
The Financial Analyst is responsible for monitoring, analyzing, and reporting company costs to support cost control, profitability improvement, and management decision-making. The role focuses on reviewing cost movements, identifying variances, validating cost assumptions, and providing practical recommendations to improve financial performance.
Key Responsibilities
1. Cost Monitoring and Analysis
- Monitor actual costs against budget, forecast, and prior periods.
- Analyze cost variances and explain key reasons for increases or unusual movements.
- Review cost trends by department, product, project, channel, customer, or business unit.
- Identify cost-saving opportunities and areas requiring management attention.
2. Gross Margin and Profitability Analysis
- Analyze gross profit and margin movements.
- Review cost of goods sold, purchase price variances, logistics costs, production costs, and other direct costs.
- Support profitability analysis by product, customer, channel, or business segment.
- Highlight margin pressure areas and recommend corrective actions.
3. Inventory and Costing Review
- Review inventory costing, stock movements, consumption, damages, wastage, slow-moving, and expired items.
- Support physical inventory counts and analyze stock count variances.
- Coordinate with Operations, Procurement, Supply Chain, and Accounting to resolve inventory or costing discrepancies.
- Ensure inventory and cost transactions are properly recorded and classified.
4. Budgeting and Forecasting Support
- Support the preparation of cost budgets and forecasts.
- Work with department heads to validate cost assumptions and spending plans.
- Track actual spending against approved budgets and highlight overspending.
- Provide cost inputs for revised forecasts and business planning.
5. Expense and Supplier Spending Review
- Review major expense categories and supplier spending trends.
- Analyze purchase orders, invoices, contracts, and business justifications where required.
- Identify unusual spending, duplicate costs, incorrect classifications, or possible PO splitting.
- Ensure spending is aligned with approved budgets, policies, and Delegation of Authority.
6. Reporting and Dashboards
- Prepare regular cost analysis reports for management.
- Maintain cost trackers, financial models, and reporting templates.
- Support the development of dashboards for cost, margin, inventory, and expense monitoring.
- Present analysis in a clear and practical format for management review.
7. Controls and Process Improvement
- Support the improvement of cost control processes and reporting accuracy.
- Ensure cost-related activities are supported by proper documentation and approvals.
- Follow up on cost control issues with relevant departments.
- Recommend process improvements to strengthen cost visibility and accountability.
Required Qualifications
- Bachelor’s degree in Accounting, Finance, Cost Accounting, or related field.
- Professional certification such as CMA, ACCA, CPA, or similar is an advantage.
- 2–5 years of experience in cost control, cost accounting, FP&A, inventory accounting, or financial analysis.
Required Skills
- Strong understanding of cost accounting, budgeting, and financial analysis.
- Good knowledge of inventory, procurement, supply chain, and expense control processes.
- Strong Excel skills; Power BI or similar reporting tools are an advantage.
- Experience with ERP systems such as SAP, Odoo, or similar.
- Ability to analyze data and explain cost drivers clearly.
- Good communication and coordination skills.
- Attention to detail and ability to meet deadlines.
- Strong follow-up and problem-solving skills.
Key Performance Indicators
- Timely preparation of cost control and variance reports.
- Accuracy of cost analysis and margin explanations.
- Effective monitoring of budget versus actual spending.
- Timely identification of unusual cost movements and overspending.
- Quality of support provided to management and business units.
- Improvement in cost visibility, reporting accuracy, and cost control discipline.