Senior Specialist - Project Cost Accountant (Saudi National)

Samsung Electronics has grown into one of the world’s leading technology companies, recognized as one of the top 5 global brands. As a global leader in technology, we are transforming the world with the creativity and diversity of our talented people who drive this transformation.

Our company's success reflects the determination and talent of our people, aligned with our key corporate values: People, Excellence, Change, Integrity, and Co-prosperity. Our mission is to help people achieve the impossible.

We are inspired by what people want to accomplish in their lives and work to create products that empower them in new ways. This drive fuels our innovation.

Join us at Samsung and find your opportunity to do what you can't.

The Senior Project Cost Accountant is responsible for overseeing project cost accounting, budgeting, forecasting, and financial reporting for complex, multi-phase projects. The role ensures accurate cost tracking, margin control, compliance with accounting standards (IFRS), and effective financial support to project and operational teams throughout the project lifecycle.

Key Responsibilities

Project Cost Management

• Develop and manage project budgets, cost baselines, and forecasts.
• Monitor actual vs budgeted costs, identify variances, and provide timely analysis.
• Track project costs by WBS, cost center, and project phase.
• Ensure accurate cost allocation, capitalization, and expense recognition.

Financial Reporting & Analysis

• Prepare monthly project financial reports, dashboards, and variance explanations.
• Support percentage-of-completion (POC) and milestone-based revenue recognition.
• Analyze project profitability, margin trends, and cost overruns.
• Provide financial insights and recommendations to project managers and leadership.
• Billing, Revenue & Cost Recognition
• Coordinate project billing, invoicing, and revenue recognition in line with contract terms.
• Reconcile project revenue, WIP, accruals, and deferred income.
• Ensure timely recognition and clearance of advance payments, retention, and claims.

Controls & Compliance

• Ensure compliance with IFRS, company policies, and internal controls.
• Support internal and external audits by providing project cost documentation.
• Maintain strong controls over change orders, variations, and claims.

Stakeholder Collaboration

• Work closely with Project Managers, Procurement, Planning, and Operations teams.
• Review contracts for financial risks, cost recovery clauses, and billing terms.
• Support decision-making with financial modeling and scenario analysis.

Systems & Process Improvement

• Maintain accurate project data in ERP systems.
• Improve project cost tracking, reporting processes, and financial controls.
• Support system implementations and process automation initiatives.

Qualifications & Experience

• Bachelor’s degree in Accounting, Finance, or Business (Master’s or professional certification is an advantage)
• Minimum 3 - 5 years of experience in project cost accounting or project finance.
• Strong experience in large projects (construction, EPC, manufacturing, infrastructure, or technology).
• Hands-on experience with ERP systems (SAP preferred).
• Solid knowledge of IFRS, project accounting, and revenue recognition standards.

Key Skills & Competencies

• Advanced cost analysis and financial modeling skills
• Strong budgeting and forecasting expertise
• Excellent Excel and reporting capabilities
• High attention to detail and strong analytical mindset
• Ability to work independently and manage multiple projects
• Strong communication and stakeholder management skills.