Specialist - Cost Control

Accountabilities:

Project Cost Control and Monitoring: Manage project cost control activities, track expenditures, monitor financial performance, and implement appropriate control measures to ensure projects remain within approved budgets.
Budgeting and Forecasting: Establish and maintain project control budgets, prepare cost forecasts, and take ownership of ETC and EAC estimates, including accurate forecast phasing throughout the project lifecycle.
Variance Analysis: Analyze differences between planned and actual costs, identify root causes, assess financial impacts, and recommend corrective actions to improve project performance.
Engineering Hours and Productivity Monitoring: Track engineering hours, measure work progress and productivity, and evaluate performance against project baselines and planned deliverables.
Schedule and Cost Alignment: Coordinate cost forecasts with project schedules, ensuring that financial projections accurately reflect project progress, resource requirements, and anticipated completion dates.
Financial Reporting: Prepare cost and revenue management reports, internal financial reports, project cost analyses, and other performance updates to support management decisions and maintain financial transparency.
Month-End Closing and Accruals: Support month-end financial closing activities, prepare and review accruals, validate cost records, and ensure the timely and accurate reporting of project financial information.
Invoicing and Procurement Management: Support project invoicing, monitor procurement-related costs, track financial commitments, and help ensure that project expenditure is accurately recorded and controlled.
Change Management: Assess the financial implications of project changes, update budgets and forecasts accordingly, and communicate potential cost impacts to relevant stakeholders.
Process Improvement: Identify opportunities to streamline cost control workflows, strengthen reporting accuracy, and improve the efficiency of project controls processes through continuous improvement initiatives.
Stakeholder Collaboration: Work closely with engineering, project management, finance, procurement, and other internal and external stakeholders to resolve cost-related issues and maintain alignment on project objectives.
Compliance and Financial Accuracy: Apply relevant accounting principles, including IFRS and GAAP where applicable, and follow established financial procedures, reporting standards, and project control practices.
Requirements:
Professional Experience: 6–8 years of experience in cost control, cost engineering, or project controls, preferably within engineering, construction, or EPC (Engineering, Procurement, and Construction) projects.
Educational Background: An engineering background is required, supported by relevant technical knowledge and experience in project cost management.
Cost Control Expertise: Strong understanding of cost control techniques, project budgeting, forecasting, cost monitoring, financial analysis, and project performance measurement.
Budgeting and Forecasting Skills: Demonstrated experience independently establishing and maintaining control budgets, preparing ETC and EAC estimates, managing forecast phasing, and aligning cost projections with project schedules.
Variance and Performance Analysis: Ability to investigate cost variances, explain their causes and financial implications, and develop practical corrective action plans.
Financial Reporting and Accounting: Experience with management reporting, cost and revenue analysis, invoicing, month-end closing, and accrual preparation. Knowledge of IFRS and GAAP accounting principles is desirable.
Software Proficiency: Strong proficiency in Microsoft Office, particularly advanced Microsoft Excel. Familiarity with SAP and/or Microsoft Dynamics 365 is expected or advantageous.
Data Analysis and Visualization: Experience with Excel-based reporting and data analysis is essential. Knowledge of Power Pivot and Power BI is an advantage.
Project Controls and Engineering Knowledge: Understanding of engineering hours, productivity monitoring, project progress measurement, procurement management, and project control methodologies. Previous experience with detailed engineering and EPC projects is an advantage.
Change and Process Management: Experience managing project changes, updating cost forecasts, improving workflows, and implementing process improvements.
Analytical Skills and Attention to Detail: Strong numerical, analytical, and problem-solving abilities, with a high degree of accuracy and attention to detail when handling financial data.
Communication and Collaboration: Excellent written and verbal communication skills, with the ability to build effective working relationships with internal teams and external stakeholders.
Organization and Time Management: Ability to manage multiple priorities, work under pressure, meet tight deadlines, and maintain accuracy in a fast-paced project environment.
Ownership and Initiative: A proactive, self-motivated approach, with the ability to work independently, take responsibility for deliverables, and contribute positively to team objectives.
Benefits:
Work-Life Balance: Access to family-friendly benefits, supportive leave policies, and flexible working arrangements where applicable.
Flexible Work Options: Remote working opportunities and flexible scheduling may be available depending on project and business requirements; this role is listed in Chennai, India.
Inclusive Work Environment: Join a collaborative workplace that values diversity, respect, inclusion, and different perspectives.
Professional Development: Opportunities to strengthen expertise in cost engineering, project controls, financial reporting, and process improvement.
Global Collaboration: Work with multidisciplinary teams supporting engineering and technology projects across international markets.
Meaningful Project Contributions: Help deliver complex engineering solutions through effective financial planning, cost management, and performance monitoring.
Employee Support: Work in an environment that emphasizes employee well-being, integrity, safety, and teamwork.
Continuous Improvement Culture: Contribute ideas and initiatives that improve operational efficiency, financial accuracy, and project delivery.