Cost Analyst

Cost Analyst Reports To: VP Finance, Thermal Solutions SBG Location: Oakville, Ontario Who We Are - Thermon Thermon is a diversified technology company and a global leader in industrial process heating, temperature maintenance, environmental monitoring, and temporary power distribution solutions. We deliver engineered solutions that enhance operational awareness, safety, reliability, and efficiency while achieving the lowest total cost of ownership. Thermon offers over 250 products, software, and services across multiple brands, providing a range of offerings from boilers, transportation heaters, and liquid load banks to tubing bundles and heat trace systems. We are the silent guardians of critical infrastructure. From the relentless demands of chemical plants and the intricate networks of rail and transit to the vital pulse of power generation, we innovate solutions that ensure optimal operation, protect critical assets, and maximize efficiency. We care deeply about the success of our customers, the well-being of our people, and the reliability of every product we design. This drives our unwavering commitment to safety and integrity in everything we do. Through collaboration, we unite a rich legacy of expertise with a trusted global team, partnering side by side with our customers. We transfer the warmth needed to make life work. Position Summary The Cost Analyst is a member of the Business Group Finance team responsible for providing cost analysis, cost reporting, and productivity project analysis and planning support to manufacturing operations. This role works closely with Plant Managers, Operations Leaders, Supply Chain teams, and Product Management to ensure operational performance improvement, cost reduction, productivity initiatives, accurate cost capture and documentation on projects, and complexity reduction targets are achieved, and to ensure decisions are data-driven and fact-based. The position ensures manufacturing and operational leadership understands the drivers of direct (e.g., labor, material, supplies) and indirect (e.g., overhead, administration) costs while supporting continuous improvement efforts, and will from time to time collaborate with the global Operating Excellence and Business Transformation teams on plant- or facility-wide improvement and transformation projects. The Cost Analyst will also play a supporting role in evaluating capital investments, maintaining product costing assumptions, monitoring manufacturing efficiency, and identifying operational cost improvement opportunities and supporting plant productivity initiatives through data-driven analysis. Key Responsibilities Manufacturing and Operational Cost Analytics Analyze labor, material, and overhead spending trends and actuals. Monitor key manufacturing performance metrics including productivity, absorption, efficiency, scrap, yield, and throughput. Prepare performance benchmarking analyses across value streams within the assigned facilities and operations. Perform variance analysis and identify root causes of significant cost fluctuations. Provide recommendations to improve operational and financial performance. Support monthly plant performance reviews through preparation of operational and financial metrics. Cost ReductionProductivity Analysis Support Operations teams in identifying, quantifying, and tracking manufacturing cost reduction and productivity opportunities. Support continuous improvement, lean manufacturing, and productivity initiatives through financial analysis. Provide financial analysis supporting operational improvement initiatives and investment decisions. Monitor actual savings versus planned targets and communicate results to leadership. Standard Cost Management Maintain and update product costs within the ERP system in accordance with established costing methodologies. Partner with Operations, Procurement, and Engineering to ensure costing assumptions remain accurate and current. Support annual and periodic cost …

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