What are the responsibilities and job description for the Senior FP&A Analyst - Labor position at Thomas Edwards Group?
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Role Purpose Statement : The Union Labor Costing Senior Analyst is responsible for managing and analyzing labor costs associated with the unionized workforce. This role plays a pivotal part in ensuring compliance with union agreements, supporting budgeting and forecasting efforts, and delivering actionable insights to optimize labor expenses and enhance cost efficiency.
Business Strategy, Policies, and Tools
Cost Optimization : Identify and implement strategies to reduce labor costs while maintaining operational efficiency and service quality.
Compliance Management : Ensure adherence to union agreements, wage rates, benefits, and labor laws, aligning with business policies.
Cross-Functional Collaboration : Collaborate with operations, HR, payroll, and finance teams to align labor strategies with overall business objectives.
Finance & Controlling
Modeling : Maintain and update an advanced Excel model for tracking and forecasting union labor costs, ensuring accuracy in data inputs, formulas, and calculations, and integrating new data as needed for budgeting and reporting purposes.
Labor Cost Tracking and Reporting : Monitor and report on union labor costs (wages, overtime, benefits, etc.), ensuring that all costs are accurately captured and align with budget expectations.
Variance Analysis : Conduct regular variance analysis between actual labor costs and budgeted / forecasted figures, identifying discrepancies and recommending corrective actions.
Data Accuracy & Integrity : Ensure the accuracy and integrity of all labor cost-related data in financial systems and reporting tools, providing reliable and timely information for decision-making.
Financial Planning and Analysis
Reporting & Insights : Prepare and present detailed labor cost reports, offering strategic insights to senior management to support decision-making.
Labor Cost Variance Analysis : Analyze labor cost trends and variances, identifying root causes and providing actionable recommendations for adjustments.
Leadership
Model corporate values and participate as required in groups, initiative and advisory bodies
Proactively support other departments and functions as the Subject Matter Expert
Provide Strategic Recommendations : Offer insights to senior management to drive effective labor cost management strategies.
Mentorship & Guidance : Lead and mentor junior analysts or team members, ensuring accurate labor cost reporting and analysis.
Requirements
Bachelor’s degree in Finance / Accounting / Business required or equitable experience
5 plus years in labor costing, financial analysis, or accounting, preferably in a unionized environment.
In-depth understanding of union labor agreements, wage structures, and benefits.
Strong knowledge of labor costing, financial reporting, and compliance with labor laws.
Familiarity with payroll systems and ERP financial tools (e.g., SAP, Oracle).
Advanced analytical skills to analyze labor data and provide actionable insights.
Financial modeling and budgeting expertise.
Strong communication and presentation skills for reporting to senior management.
Problem-solving and conflict resolution, particularly with union-related issues.
Experience in budgeting, forecasting, and variance analysis for labor costs.
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