Cost Control Manager at ENG Rypac Limited (HY Group Company)

Job Summary

• The purpose of this position is for the monitoring and managing financial expenditures within an organization.
• He will analyse costs, identify potential overruns, and implement strategies to control expenses, contributing to effective financial management.

Responsibilities
Strategic Tasks:

• Develop and implement cost planning strategies for Oil & Gas fabrication projects, including detailed estimates, budgets, and forecasts.

Operational Responsibilities:

• Oversee and manage project budgets, ensuring alignment with project plans and financial goals.
• Implement effective cost control measures to monitor, analyze, and report on project expenditures, identifying areas of variance and proposing corrective actions.
• Conduct in-depth financial analysis to assess project performance, cost trends, and potential risks, providing insights to support decision-making.
• Prepare accurate and timely financial forecasts, considering project milestones, deliverables, and potential changes in scope.
• Conduct regular variance analysis comparing actual costs against budgeted costs, providing explanations for any discrepancies.
• Assess the financial impact of changes in project scope or requirements, working closely with project managers to evaluate and approve change orders.
• Generate and present comprehensive cost reports to project stakeholders, highlighting key financial metrics, trends, and potential risks.
• Collaborate with project management, procurement, and other relevant teams to gather cost-related information and ensure alignment with project objectives.
• Ensure compliance with relevant financial regulations, company policies, and industry standards.
• Identify opportunities for process improvement in cost control and reporting methodologies, implementing best practices to enhance overall efficiency.

Qualifications & Experience

• Bachelor’s degree in Finance, Accounting, Business, or a related field
• As a minimum he shall have 10 years’ experience in cost control, project finance, or related roles, with a focus on Oil & Gas fabrication projects and construction engineering in the oil and gas industry.
• Solid understanding of Oil & Gas fabrication processes and associated cost structures.
• Proficiency in financial management and project control software tools, such as SAP, Oracle, or equivalent.
• Strong analytical and problem-solving skills to interpret financial data, analyze trends, and provide actionable insights.
• Excellent communication skills to convey complex financial information to both finance and non-finance stakeholders.
• Attention to detail in financial analysis, budgeting, and reporting to ensure accuracy and reliability.
• Ability to adapt to changing project requirements and financial circumstances.
• Proven leadership skills, including the ability to lead and mentor a team of cost control professionals.
• Effective negotiation skills for managing contracts, change orders, and cost-related issues with suppliers and contractors.