
Chief Financial Officer
2 days ago
Cost Manager
We are seeking a highly skilled Cost Manager to join our organization. The ideal candidate will have a strong background in cost analysis and control, with experience in the EPC industry.
Main Responsibilities:
- Perform project cost analysis and control, ensuring alignment with budgets.
- Monitor, analyze, and report on project costs for large-scale EPC projects.
- Track costs across engineering, procurement, and construction phases.
- Prepare detailed variance reports, analyzing the causes of deviations between budgeted and actual costs.
- Validate petty cash and non-PO based expenses, conduct supplier assessments, and advance payments to suppliers.
Progress Monitoring and Reporting:
- Collaborate with project teams to track progress and update percentage-of-completion calculations.
- Provide insights and reports on cost performance, profit margins, and project cash flow.
Contract and Cost Compliance:
- Ensure compliance with contractual agreements and project-specific financial regulations.
- Validate costs in line with contract terms and identify cost overruns or savings opportunities.
Inventory and Procurement Cost Management:
- Work with procurement to control and analyze material and service costs.
- Implement strategies to minimize waste and cost.
Risk Management and Cost Optimization:
- Identify potential risks related to project costs, including scope changes, delays, or unexpected expenses.
- Recommend strategies for cost reduction.
Fixed Assets Management:
- Track, record, and monitor fixed assets at the project site.
- Oversee asset capitalization, depreciation calculations, and ensure compliance with relevant accounting standards.
Financial Reporting and Forecasting:
- Prepare regular financial and cost reports, analyzing project expenses and forecasting costs.
- Generate monthly, quarterly, and annual reports detailing variances and expected cost overruns.
Required Skills:
- IFRS Knowledge:
- Knowledge of IFRS standards, particularly IFRS 15, IFRS 9, and IAS 16.
- EPC Industry Expertise:
- Understanding of EPC project lifecycle, cost drivers, and risks.
- Technical Proficiency:
- Technical proficiency in project management and accounting software.
- Analytical Skills:
- Strong analytical skills in cost analysis, budgeting, and variance analysis.
- Communication Skills:
- Effective communication skills to present cost information and insights to management.
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