Assistant General Manager – Costing

Company Description

Emerald Jewel Industry India Limited, established in 1984 by K Srinivasan, is one of the world’s largest jewellery manufacturers. The company is a pioneer in adopting emerging technology and innovation to create high-quality jewellery products. Emerald operates four production units over 20 acres, offering over 500,000 designs utilizing diverse technologies such as casting, machine chains, stamping, CNC, 3D printing, and more. With a committed workforce of over 5,000 members, Emerald has 15 Jewel One showrooms in South India and over 100 distributors worldwide. The company has design centres in Coimbatore, Mumbai, Delhi, and Kolkata, and one of the largest jewellery display centres in Coimbatore.

Role Description

This is a full-time, on-site role for an Assistant General Manager – Costing located in Coimbatore. The Assistant General Manager – Costing will be responsible for overseeing and managing all aspects of the costing process. This includes analyzing and maintaining cost records, preparing cost budgets, conducting cost variance analysis, and collaborating with other departments to ensure precise cost control. Additionally, this role requires the preparation of cost reports, identifying cost reduction opportunities, and ensuring compliance with cost accounting standards.

Experience:

• 10 to 15 years post-qualification experience exclusively in costing and budgeting functions
• Experience must be specifically in manufacturing industry costing, NOT in general finance or accounting roles

Budget:

• Flexible budget for exceptionally qualified candidates

Functional Responsibilities:

• Accurately determine the manufacturing cost of products and ensure timely cost updates
• Analyze and prepare Costing Profit & Loss accounts to support internal decision-making
• Validate strategic investments including ROI, CAPEX, KAIZEN projects
• Monitor, review, and optimize pricing for existing and new products
• Track, analyze, and control costs department-wise, including consumables, manpower, and overhead expenses
• Perform variance and trend analysis comparing actual costs vs budgets
• Ensure costing P&L reconciles correctly with finance records
• Update and revise key costing factors regularly and reflect changes in the ERP system
• Prepare monthly MIS reports, balanced scorecards, and support activity-based costing (ABC) initiatives
• Evaluate capacity utilization and efficiency of high-value machinery

Managerial Responsibilities:

• Review cost elements for prototype samples, new product models, and operational development (OPD) requests
• Prepare and present cost sheets for price revision discussions with management
• Update and maintain ERP rate charts for store/non-gold prices

Problem Solving & Process Improvement:

• Identify revenue leakages and establish continuous cost monitoring systems
• Conduct competitor cost analysis and implement internal cost reduction measures
• Request necessary computer hardware or peripherals to support costing functions

Decision Making:

• Finalize manufacturing costs for samples and new or modified products
• Evaluate and decide cost parameters for new projects and proposals

Documentation & Compliance:

• Maintain detailed monthly records of costing P&L accounts
• Update and manage the Costing Manual as part of the Integrated Quality Management System (IQMS)
• Keep accurate ERP records for rate charts, stone master data, and agreement master files

Communication & Coordination:

• Participate actively in HOD meetings, core committees, innovation councils, and pricing review sessions
• Coordinate with R&D, Production, Marketing, and other internal departments for costing data collection and analysis
• Engage with external stakeholders like customers and competitors for make-or-buy decisions and pricing benchmarking

Skills & Competencies:

• Strong expertise in product costing, budgeting, and variance analysis (costing focus only)
• Deep understanding of production processes and product life cycles
• Experience in data analytics, forecasting, and reporting tools
• Proficiency with MS Excel, PowerPoint, Word, and ERP systems (preferably Microsoft Dynamics AX)
• Excellent planning, coordination, and communication skills

Remuneration:

• As per industry standards and candidate experience