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Magna International · 1 day ago

Cost Estimating Specialist

Novi, MI

Full-time

Onsite

Senior Level

7+ years exp

Magna International is an innovative leader in the development and manufacturing of high quality complete seating systems. They are seeking a highly analytical and proactive Cost Estimating Specialist to support high complexity programs, focusing on cost tracking and engineering change management to ensure financial accuracy and responsiveness to dynamic program requirements.

AutomotiveIndustrial EngineeringManufacturing

Responsibilities

Maintain detailed cost tracking for assigned programs, ensuring alignment with budget targets and commercial expectations

Monitor actual vs. forecasted costs for Materials, Tooling, Labor, and Overhead; investigate and explain variances

Develop and update cost models to reflect changes in scope, design, or sourcing. Present this information to the program team and/or Cost Estimating Manager

Tracks, audits and compare actual tooling expenditures to the established budget as needed and provide status reports on a regular basis

Lead financial impact assessments for engineering changes (ECRs/ECNs), including cost roll-ups and margin analysis through the add/delete process

Collaborate with Engineering, Program Management, and Purchasing to ensure timely and accurate costing of changes

Maintain traceability of cost impacts along key program financial metrics throughout the program lifecycle

Participate in setting cost targets and pricing to improve margins

Provide cost input for RFQs, commercial negotiations, and customer pricing strategies

Thorough understanding OEMs costing standards to align on cost expectations, formats, and reporting requirements

Supports and justifies cost/pricing structure to the customer as required, under the direction of the department manager and with the coordination of Sales department

Support gate reviews and financial checkpoints with robust cost documentation and insights

Enhance costing tools, templates, and processes to improve accuracy and efficiency

Support ERP and PLM system integration for better cost visibility and change tracking

Drive continuous improvement initiatives in cost governance and data integrity

Contributes to VA/VE initiatives

Supports Internal / External Audit efforts regarding ISO 9001:2015, IATF 16949 Certification for remote site location (Group Office)

Supports the requirements as detailed in Standard Operating Procedure 8000 (Quality Management System)

Ensure employees work in the manner consistent with the organizations established objectives and targets utilizing protective equipment, devices, measures, and procedures as promulgated by state and federal regulations. Establish clear goals for workplace health and safety. Complete safety talks, safety meetings, and required training occur, as defined

Qualification

Cost Accounting PrinciplesERP Systems SAPERP Systems OracleFinancial ModelingAutomotive Manufacturing ExperienceAdvanced ExcelChange Management SystemsStakeholder ManagementAnalytical SkillsCAD/TeamCenter ExperienceOrganizational SkillsCommunication SkillsProblem Solving