Overall Role:

Responsible for providing financial support to the product development process, ensuring that new products are financially successful, providing financial insights to support business decision-making, including product development analysis and decisions.

Key Responsibilities:

• Capital budgeting/Control: Evaluate capital expenditure proposals for new product development projects, ensuring that investments are aligned with the company's strategic goals and financial objectives. Review/control the product spending to meet the spending target
• Sensitivity analysis: Analyze the sensitivity of financial forecasts for new products to changes in key assumptions, such as market size, product pricing, and cost structure.
• Performance monitoring: Monitor the financial performance of new products on an ongoing basis, identifying any deviations from expectations and taking corrective action as needed.
• Expense tracking: Implement a system for tracking and monitoring product development expenses, ensuring that costs are allocated accurately to each project.
• Financial analysis of new product ideas: Analyze the potential revenue, cost, and profitability of new product ideas to evaluate their financial viability.
• Financial modeling of product development costs: Develop financial models to estimate the costs of developing new products, including labor, materials, and overhead.
• Financial reporting for product development: Prepare financial reports for product development projects, providing management with insights into the financial performance of each project.
• Financial risk management: Identify and assess financial risks associated with new product development projects, developing mitigation strategies to minimize potential losses.
• Scenario planning for product development: Analyze the impact of different market scenarios on the financial performance of new products.
• Variance analysis for product development: Analyze the difference between actual and budgeted financial performance of new products, identifying potential areas for improvement.
• Financial support for product launches: Provide financial support for product launches, including forecasting sales performance and managing marketing budgets.

Skills and Qualifications:

• Bachelor's degree in finance, accounting, or a related field
• Experience in financial planning and reporting
• Strong financial analysis and modeling skills
• Experience in product development or financial planning
• Excellent communication and presentation skills