Careers that change lives start here. Medtronic is a global leader in healthcare technology with a Mission to alleviate pain, restore health, and extend life. Our 95,000 employees work across more than 150 countries to put patients first — developing innovative medical technologies that improve the lives of 72+ million patients each year. Your unique talents will help shape the future of healthcare while building a career grounded in purpose, growth, and impact.

A Day in the Life

The Senior Cost Accountant is responsible for managing and analyzing manufacturing costs, ensuring the accuracy of standard costs, inventory valuation, and cost-related financial reporting. This role partners closely with Supply Chain, Engineering, and Finance teams to provide cost insights, support strategic decision-making, drive process improvements, and contribute to margin enhancement initiatives. The position also plays a key role in cost roll activities, variance analysis, and the continuous improvement of global costing processes.

The Senior Cost Accountant serves as a key member of the Global Costing Center of Excellence (COE), partnering closely with Manufacturing Operations, Supply Chain, FP&A, Controllership, and Business Unit Finance teams. This role is responsible for ensuring accurate product costing, supporting financial planning and analysis activities, driving standardization across costing processes, and providing insights that enable profitable business decisions and sustainable gross margin improvement. The position plays a critical role in supporting global manufacturing sites, cost roll activities, inventory valuation, and strategic finance initiatives.

A Day in the Life

• Lead standard cost development, validation, and maintenance for assigned manufacturing sites.
• Execute and support annual and mid-year cost roll processes across ERP systems.
• Analyze product cost drivers including material, labor, burden, scrap, and manufacturing variances.
• Partner with Operations, Supply Chain, Engineering, and Site Finance teams to identify cost-saving opportunities and improve financial performance.
• Prepare financial analyses and reporting related to gross margin, inventory, manufacturing performance, and product profitability.
• Support monthly, quarterly, and annual financial close activities related to inventory and cost accounting.
• Perform variance analysis and identify root causes of unexpected financial results.
• Develop costing models and business cases to support strategic initiatives, product launches, transfers, and manufacturing changes.
• Support forecasting and planning activities, including AOP and periodic forecasts.
• Ensure compliance with Medtronic financial policies, SOX controls, and accounting standards.
• Drive continuous improvement and standardization of costing processes, reporting, and governance.
• Contribute to SAP implementations, systems enhancements, digitalization projects, and costing transformation initiatives.

Must Have: Minimum Requirements

• Bachelor's degree in Accounting, Finance, Business Administration, Industrial Engineering, or related field.
• Minimum 4 years of experience in Cost Accounting, Manufacturing Finance, or Financial Analysis.
• Strong understanding of standard costing methodologies, inventory accounting, and manufacturing accounting principles.
• Advanced analytical and problem-solving skills.
• Advanced Microsoft Excel skills.
• Experience working with ERP systems (SAP preferred).
• Strong communication and business partnering capabilities.
• Ability to work effectively in a global and cross-functional environment.

Nice to Have

• CPA, CMA, MBA, or equivalent professional certification.
• Experience supporting multiple manufacturing sites.
• Knowledge of SAP S/4HANA and costing modules.
• Experience with Power BI, OneStream, Hyperion, or financial reporting tools.
• Exposure to Lean Manufacturing and continuous improvement methodologies.
• Experience supporting cost transformation or ERP implementation projects.

Key Competencies

• Financial Acumen
• Strategic Thinking
• Business Partnership
• Process Improvement
• Data Analytics
• Attention to Detail
• Leadership Through Influence
• Project Management
• Change Management
• Results Orientation

Success Measures

• Accurate and timely completion of cost rolls.
• Inventory valuation accuracy.
• Timely completion of month-end close deliverables.
• Variance analysis quality and actionable insights.
• Cost reduction and gross margin improvement support.
• Compliance with financial controls and audit requirements.
• Standardization and automation of costing processes.
• Effective support of manufacturing and strategic business initiatives.

 

Physical Job Requirements

The above statements are intended to describe the general nature and level of work being performed by employees assigned to this position, but they are not an exhaustive list of all the required responsibilities and skills of this position. 

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Recruitment Fraud Alert 

We are aware of phishing scams targeting job seekers. Please keep the following in mind: 

Apply only through official Medtronic channels. All legitimate Medtronic recruiting communications come from approved Medtronic platforms and official @medtronic.com email addresses. 

Medtronic will never ask for payment or sensitive personal information (such as bank account or Social Security details) during early stages of the hiring process. Any such requests are not legitimate. 

If you receive a suspicious message claiming to be from Medtronic, do not respond, click links, or open attachments. 

If you have any questions, concerns regarding the authenticity of a communication alleged to have been made by or on behalf of Medtronic, please contact us immediately at AskHR@medtronic.com. 

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Benefits & Compensation

Medtronic offers a competitive Salary and flexible Benefits Package
A commitment to our employees lives at the core of our values. We recognize their contributions. They share in the success they help to create.  We offer a wide range of benefits, resources, and competitive compensation plans designed to support you at every career and life stage.
 

 

 

This position is eligible for a short-term incentive called the Medtronic Incentive Plan (MIP).