Cost Management Specialist

We are seeking a highly skilled Cost Management Specialist to join our team. The successful candidate will be responsible for preparing the project budget, annual/quarterly/monthly planning and rolling forecasts.

• Budgeting and Forecasting:
• Taking accountability and supporting on project invoicing, tax issues, bonds, and guarantees, financial accounting and reporting, driving and seeking optimization of project cash flow, revenues, and GM contribution together with Central Cost Controller/Project Manager as needed.
• Participating in opportunity/risk identification ensuring that all required mitigation actions are timely implemented. Driving, coordinating, and preparing monthly project reviews jointly with the PM/Central Controller/PSCM.
• Reviewing and having joint responsibility for all financial aspects of the project including estimate at completion and related cost-to-complete, forecasted revenues and cash flow, risks and opportunities assessment, and ensuring alignment with other functions including Project Controls, planning/scheduling.

Financial Acumen:

• Promoting financial acumen in the project team and providing financial input to the project execution plan.
• Living core values of safety and integrity, which means taking responsibility for your own actions while caring for your colleagues and the business.

Commercial Awareness:

• Coordinating with the client for approval on invoices, getting payments, and various forms for compliance purposes.
• Maintaining an updated billing register capturing details of all the billings till date, status on approval, payment, various deductions with categories and reasons, following up to collect the amounts deducted.
• Stringent monitoring and control on site expenses. Weekly reporting of project expenses in a specified format and reconciliation of SAP entries with invoices.

Analysis and Review:

• Analyzing actual vs. budget costs and revenue on the project, highlighting potential issues to the controller manager and project managers.
• Leading the activity of project actualisation (actua) at HO defined frequency, coordinating with the project team to get the required data, discussing with the controller manager to prepare the finance-related slides in actua presentation, uploading the actua in SAP post approval from required people.
• Reviewing Kappa against the budgeted costs and highlighting in case of costs exceeding the budget, checking that adequate documents (quotations, budget sheet, comparative information, billing value, required authorisations, reasoning for deviations from minimum quotations, budget overruns, non-lowest offer, non-compliance with payment terms) are attached with the Kappa.

Compliance and Verification:

• Sharing project slides for monthly business review in accordance with the timeline defined by the project team, keeping the controller manager in loop.
• Comprehensive check on provisions to ensure that provisions are accurate, complete for monthly closing, and in line with accounting rules and HO instructions.
• Monthly cash verification and surprise verification at least once a month. Reporting results to the HO team (controller manager and IFC team).

Leadership and Supervision:

• Leading and supervising the compliance on Internal Financial Controls (IFC) as defined by HO in the Risk and Control Matrix (RCM).
• Monitoring ABG, PBG, any other guarantees, insurances to ensure that these are timely renewed, reduced as per contractual conditions.
• Compliance with tax regulations.

Skill Requirements:

• Excellent interpersonal skills.
• Well-versed with Microsoft PowerPoint and Excel.
• Strong in follow-ups.
• Go-Getter approach.
• Basic knowledge of SAP.
• High sense of responsibility, commitment, and effective communicator.

Educational Qualification:

MBA Finance/CA-Inter/ICWA

Work Experience:

Total Experience of 6 to 10 Years