Budgeting & Cost Control Specialist

Job Summary:

The Budgeting & Cost Control Specialist is responsible for managing the budgeting process, tracking expenditures, analyzing financial performance, and ensuring efficient cost control across departments or projects. This role is vital in ensuring that resources are used effectively and projects remain within budget, helping the organization achieve its financial objectives.

Key Responsibilities:

• Develop, prepare, and manage budgets for departments or projects in coordination with relevant stakeholders.
• Monitor actual spending vs. budget and provide variance analysis with actionable insights.
• Analyze cost structures and identify opportunities for cost savings and operational efficiency.
• Track project expenses, commitments, and forecasts to ensure alignment with financial targets.
• Work closely with project managers, procurement, and other departments to provide financial support and guidance.
• Assist in the preparation of periodic financial reports, including budget vs. actual performance, forecasts, and ad hoc reports.
• Implement and maintain effective cost control systems and procedures.
• Provide recommendations for budget adjustments or reforecasting based on changing conditions.
• Assist in financial audits and provide supporting documentation and analysis as needed.
• Ensure compliance with internal financial policies and external regulations.

Qualifications:

Education:

• Bachelor’s degree in Finance, Accounting, Business Administration, Economics, or a related field.
• Professional certification (e.g., CMA, CPA, CIMA) is an advantage.

Experience:

• 3+ years of experience in budgeting, financial planning, or cost control.
• Experience in [insert industry if applicable: e.g., construction, oil & gas, manufacturing, etc.] is preferred.

Skills:

• Strong financial analysis and modeling skills.
• Proficiency in financial software and Excel (pivot tables, VLOOKUP, etc.).
• Familiarity with ERP systems (e.g., SAP, Oracle, or similar).
• Strong attention to detail and accuracy.
• Excellent communication and interpersonal skills.
• Ability to work independently and in a team under tight deadlines.

Key Competencies:

• Budgeting & Forecasting
• Cost Control & Variance Analysis
• Financial Reporting
• Problem-solving & Critical Thinking
• Process Improvement
• Strategic Planning Support

Job Location: Abu Dhabi, UAE

Job Type: Full-time