Cost Analyst

Woodward, Inc.

. 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.

Posted 3/4/2026full-timeNiles • Illinois • 🇺🇸 United StatesMid-LevelSenior💰 $72,000 - $115,000 per yearWebsite

About the role

Key responsibilities & impact

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.

Requirements

What you’ll need

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

Benefits

Comp & perks

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

ATS Keywords

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Applicant Tracking System Keywords

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Hard Skills & Tools

cost analysiscost optimizationcost allocationcost estimationvariance analysisfinancial analysismanufacturing experienceadvanced ExcelPower BISAP

Soft Skills

analytical mindsetindependent workcollaborationcommunicationproblem-solving