Summary
Power International Holding is seeking a Cost Control Manager for a role located in Saudi Arabia. The manager will develop budgets and cost estimates, monitor project spending, analyze variances, prepare financial reports, and oversee cost-related contract compliance. The role also includes maintaining cost control systems, identifying financial risks, and supporting HSE initiatives. Applicants should have a relevant bachelor's degree, a master's degree in Accounts and Finance, at least 8 years of work experience, and 5 years in a relevant supervisory position; GCC experience is a plus.
The posting
As published on powerholding-intl.com. Pulled from the employer's site and shown as they wrote it.
Job Summary
The Cost Control Manager ensures the financial health of projects by developing, monitoring, and managing budgets. They provide accurate cost estimates, track expenditures, and identify variances to maintain financial control. Their role involves implementing effective cost control systems and strategies to optimize resource allocation and achieve financial efficiency.
Job Responsibilities 1
Develop detailed project and departmental budgets, ensuring they align with overall organizational financial goals.
Prepare accurate cost estimates for projects, incorporating all potential expenses and risks to forecast financial needs.
Monitor and track project expenditures continuously, comparing actual costs against budgeted amounts.
Analyze cost variances, identify reasons for discrepancies, and recommend corrective actions to manage budget deviations.
Generate detailed financial reports, highlighting key metrics, trends, and issues for senior management and stakeholders.
Implement and maintain robust cost control systems and procedures to ensure financial accuracy and efficiency.
Identify financial risks and develop mitigation strategies to prevent cost overruns and budgetary impacts.
Review and manage contracts, ensuring compliance with financial terms and addressing any cost-related issues.
Communicate effectively with project managers, finance teams, and other stakeholders to ensure alignment on financial matters.
Identify opportunities for improving cost control practices and processes, implementing changes to enhance financial management.
Support the implementation of HSE initiatives, participate in safety awareness activities, and contribute to incident reporting and resolution in alignment with company and IMS policies
Job Knowledge & Skills
Expertise in budgeting, cost estimation, and financial analysis to ensure accurate and effective financial planning.
Strong analytical skills to interpret financial data, identify cost variances, and provide actionable insights.
Knowledge of risk assessment and mitigation strategies to manage potential financial risks and cost overruns.
Understanding of contract terms and negotiation to oversee financial compliance and address cost-related issues.
Excellent communication skills for reporting to stakeholders and strong leadership abilities to manage and guide financial teams.
ERP knowledge preferably SAP functional skills are a requirement to be successful in this role.
Job Experience
Minimum 8 years working experience, 5 years in a relevant supervisory position, 2 years GCC experience is a plus
Competencies
Financial Reporting L4
AI Fluency
Agility
Claim Studies L4
Cost Control L4
Cost Estimating L4
Build High-Performing Teams
Provide Direction
Projects-Commercial L4
Leadership_321977503
Resilience
Quality_321977507
Education
Bachelor's Degree in Finance, Accounting, Economics, Pubic Administration or business administration, and other related field
Master's degree in Accounts and Finance