Cost Control Director

Job Summary

The Cost Control Director is responsible for the organization cost plans, monitor and report on the Company project cost plans, and monitor cost and collect the cost data to ensure conformity with Management's budget directives cost tracking, forecasting; and financial reporting. Identifies where costs can potentially be saved and introduce cost control procedures across the organization

Job Responsibilities 1

Develop and manage project and departmental budgets, ensuring alignment with organizational financial goals and project requirements.

Oversee the preparation of cost estimates for projects, considering all potential expenses and risks to provide accurate financial forecasts.

Continuously monitor and analyze project expenditures, tracking costs against budgets and identifying variances.

Prepare detailed cost reports and financial summaries for senior management, highlighting key metrics, trends, and issues.

Analyze cost variances and provide explanations for deviations, recommending corrective actions to address financial discrepancies.

Identify financial risks and develop strategies to mitigate potential cost overruns and budgetary impacts.

Review and manage contracts to ensure compliance with financial terms and conditions, and address any cost-related issues.

Implement and maintain cost control systems and processes to enhance financial oversight and accuracy.

Communicate effectively with project managers, finance teams, and other stakeholders to ensure alignment on cost-related matters and project financials.

 Identify and implement improvements to cost control practices and processes to increase efficiency and accuracy in financial management.

Job Responsibilities 2

Additional Responsibilities 3

Job Knowledge & Skills

In-depth knowledge of financial management, budgeting, and cost estimation to ensure accurate and effective financial planning.

Strong ability to analyze financial data, identify cost variances, and provide actionable insights for cost control.

Understanding of contract management and negotiation to manage financial terms and compliance effectively.

Proficiency in implementing and maintaining cost control systems and processes to enhance financial oversight.

Excellent communication skills for reporting to stakeholders and 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

Education