COST CONTROLLER

Designation: Senior Cost Controller
Reporting To: Chief Financial Officer (CFO)
Supervises: Project Team Leaders and Cost Control Team
Role Level: Mid Level

Academic Qualification

• CMA / CPA / ACCA / CA or
• Bachelor’s degree in Civil / Mechanical / Industrial Engineering
• PMP Certification preferred

Industry Experience

• 5–8 years of relevant experience in cost control and management, budgeting, project controls, or project engineering
• Proven experience in the Oil & Gas sector.

Technical Expertise

• Strong understanding of project cost structures, WBS principles, and project financial processes
• Hands-on experience with cost control in long-term, high-value projects
• High attention to detail and accuracy
• Familiarity with QP, LNG, ARAMCO, or other major client specifications.

System and Software Skills

• Proficiency in ERP systems such as SAP, Oracle, Microsoft Dynamics, or equivalent
• Advanced proficiency in Excel and financial modelling tools

Leadership & Interpersonal Competencies

• Strong leadership experience managing Project Team Leaders and cross-functional teams
• Excellent communication skills for collaborating with CFO, Senior Management, Project Directors, and external stakeholders

Job Responsibilities

1. Budget Development

• Develop and establish project budgets based on detailed cost estimates
• Allocate funds across project elements such as labor, materials, equipment, subcontracting, and contingency provisions

2. Cost Monitoring

• Provide high-level oversight of cost performance across all projects
• Continuously track and monitor project costs throughout the project lifecycle using Earned Value Management (EVM)
• Review expenses, commitments, and cost variations against approved budgets
• Identify early warning signals of cost overruns and escalate critical issues to the CFO with recommended corrective actions

3. Change Order Management

• Evaluate, validate, and process change orders affecting project costs in coordination with project heads, engineering teams, and finance
• Assess cost implications arising from scope changes, revised specifications, or unforeseen conditions

4. Forecasting

• Use historical data, cost trends, and project progress to prepare accurate cost forecasts
• Ensure forecasts align with cash flow planning and organizational financial objectives

5. Cost Reporting

• Prepare periodic cost reports for management, project managers, and subcontractors
• Reports to include cost status, cost-to-complete (CTC), variance analysis, and Cost Performance Index (CPI) metrics

6. Risk Assessment

• Identify and assess financial risks that may impact project cost performance
• Recommend mitigation strategies to safeguard budgets and timelines

7. Cost Control Strategies

• Implement cost control initiatives focused on eliminating waste, improving productivity, and optimizing resource utilization
• Promote a cost-conscious culture across project and operations teams

8. Benchmarking

• Benchmark project costs against industry standards and historical data to ensure competitiveness and efficiency
• Implement cost norms, productivity metrics, and efficiency standards across all projects

9. Documentation

• Maintain comprehensive documentation of budgets, cost reports, change orders, approvals, and all financial records
• Prepare EOT claims and support the project team with documentation required for variation submissions
• Establish documentation standards and control mechanisms for the cost control function

10. Cross-Functional Leadership & Communication

• Act as the financial authority for project teams, guiding Project Team Leaders on cost-related matters
• Ensure effective collaboration between finance, engineering, procurement, and operations teams
• Communicate financial impacts of project decisions clearly and strategically to senior leadership

11. Continuous Improvement

• Stay updated on industry best practices, new technologies, and cost management methodologies
• Recommend improvements to enhance existing cost control processes

12. Problem Solving

• Resolve cost-related issues promptly and propose practical, financially sound solutions to keep projects on track

Job Types: Full-time, Permanent