Senior Cost Control Officer

About the Role

UrbaCon Contracting & Trading Company is seeking a Senior Cost Control Officer to join their team. This full-time role involves collaborating with various department managers to analyze costs, evaluate vendor relationships, and optimize profitability. The Senior Cost Control Officer will be responsible for controlling and monitoring project total expenditures, including verifying invoices and claims from suppliers, vendors, and subcontractors to ensure all project expenditures are accurately captured and recorded.

Key Responsibilities

• Provide planning and cost controlling support for all projects, including variation reporting, monitoring of milestone progress, and preparation of customer billing processes.
• Perform and manage project activity scheduling and monitoring, and develop and maintain program and project cost reports and cost tracking.
• Develop and audit cost forecasts variances as needed.
• Work with all relevant project personnel to ensure cost control procedures are in place.
• Assist in setting up project(s) with a Computerized Cost System based on an agreed format.
• Assist the project manager in identifying and gaining approval for estimates/change requests.
• Review cost commitment and expenditure information for all cost elements for input into the computerized cost control and reporting system, ensuring accuracy and correct input.
• Prepare regular cost reports and advise management of any forecast cost overruns promptly to allow for timely corrective actions.
• Highlight cost areas of concern and suggest areas for improvement.
• Maintain comprehensive and accessible registers of financial approvals, variations, and change orders.
• Liaise with the finance department regarding monthly evaluation of work done, goods received, and services rendered for invoice preparation and verification.
• Ensure all cost-related work complies with procurement contract(s).
• Prepare and process payment requests received from Procurement.
• Review invoices to ensure all information is accurate and complete.
• Ensure the 3-way match of payments (Purchase Order, Service Receipt Voucher/Delivery Note, and Invoice).
• Update and provide Payment Tracking Reports.
• Coordinate with suppliers to ensure the availability of statements of account before processing payments.
• Prepare reconciliation of supplier accounts, reconcile vendor statements with internal balances, and correct discrepancies.
• Coordinate for timely resolution of any disputes.
• Support the implementation of HSE initiatives, participate in safety awareness activities, and contribute to incident reporting and resolution in alignment with company and IMS policies.

Qualifications and Experience

• A minimum of 5 to 10 years of relevant experience in cost control.
• Demonstrated ability to analyze costs, assess vendor relationships, and maximize profitability.
• Strong understanding of project expenditure control and monitoring.
• Proficiency in verifying and checking invoices and claims.

Required Skills

• Excellent analytical and problem-solving skills.
• Strong communication and interpersonal skills for collaborating with various departments and external parties.
• Proficiency in cost control software and computerized cost systems.
• Attention to detail and accuracy in financial record-keeping.
• Ability to prepare comprehensive financial reports and provide timely advice to management.

Work Type

This is a full-time position within UrbaCon Contracting & Trading Company.