Cost Controller
GE Vernova
Date: 2 weeks ago
City: Jeddah
Contract type: Full time
Job Description Summary
As a project cost controller, you will be responsible for the cost control of several projects. You will report operationally to the project managers and functionality to the project cost control Manager, a member of the project Management office.
Job Description
Roles and Responsibilities:
Relocation Assistance Provided: No
As a project cost controller, you will be responsible for the cost control of several projects. You will report operationally to the project managers and functionality to the project cost control Manager, a member of the project Management office.
Job Description
Roles and Responsibilities:
- Monitor and analyze all operational costs to ensure adherence to budget.
- Track and evaluate expenditure on projects and daily operations to ensure they align with the company’s financial plans.
- Develop and maintain cost control procedures and methodologies.
- Forecast and manage costs related to materials, labour, and overhead.
- Prepare detailed cost analysis reports and present findings to senior management.
- Provide monthly, quarterly, and annual cost reports, including variance analysis and recommendations.
- Assist in preparing budgets and forecasts based on cost analysis data.
- Identify opportunities for cost reduction without compromising quality.
- Implement cost-control strategies across all departments and functions.
- Collaborate with other teams to develop and execute cost-effective processes and solutions.
- Assist in the creation of project budgets and financial forecasts.
- Review project costs regularly and ensure that financial targets are met.
- Develop cost models and financial projections for new and existing projects.
- Work closely with procurement, operations, and project management teams to ensure cost efficiency.
- Ensure effective communication regarding cost control measures and adherence to budgets.
- Liaise with finance teams to ensure accurate recording and allocation of costs.
- Ensure compliance with internal cost control policies, industry standards, and legal regulations.
- Prepare for and support internal and external audits by providing necessary cost-related information.
- Utilize cost control software and tools to track and report expenses.
- Continuously improve cost tracking and reporting methods to increase accuracy and efficiency.
- Analyze and report on risks related to costs and provide actionable recommendations.
- Identify potential financial risks and assist in implementing mitigation plans.
- Bachelor’s degree in Accounting, Finance, Business Administration, or a related field. Professional certifications (e.g., CPA, CMA) are a plus.:
- 3-5 years of experience in cost control, accounting, or financial management.
- Experience in project cost control is highly preferred
- Proficiency in financial software (e.g., SAP, Oracle, QuickBooks).
- Strong knowledge of Excel/Power BI and data analysis
- English proficiency is a must
- Ability to analyze complex financial data and identify trends and anomalies.
- Strong attention to detail, with the ability to identify discrepancies and inconsistencies in cost data
- Excellent verbal and written communication skills to report findings and collaborate with teams
- Ability to think critically and propose cost-effective solutions
- Ability to prioritize tasks and meet deadlines in a fast-paced environment
- Ability to work both independently and as part of a team
- Strong ethical standards and a commitment to confidentiality
- Flexible and adaptable to changing business needs
- May involve some travel for project oversight or financial audits
- Office-based with occasional site visits
Relocation Assistance Provided: No
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