COST CONTROLLER

Description

**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