Senior Cost Control Engineer📣 Job Ad

About Saipem

Saipem is a global leader in engineering and construction for the energy and infrastructure sectors, operating both offshore and onshore. The company is organized into business lines including Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures, and Robotics & Industrialized Solutions. Saipem is committed to technological innovation and supports clients in their energy transition towards Net Zero, utilizing digital means, technologies, and processes focused on environmental sustainability. Listed on the Milan Stock Exchange, Saipem operates in over 50 countries and employs approximately 30,000 people from more than 130 nationalities.

The Role

Saipem is seeking a Senior Cost Control Engineer to join the Project Control and Project Risk Management area in Al Khobar, Eastern region. This full-time role involves direct responsibility for the economic and financial control of complex, high-value projects. The selected candidate will manage the project cost control system, ensuring accurate cost monitoring, variance analysis, forecast updates, and providing timely support to Project Managers and Management with reliable data. This is a senior-level position requiring solid experience in complex project environments, strong analytical skills, and the ability to interact effectively with various internal and external stakeholders.

Key Responsibilities

• Set up, manage, and update the project cost control system in line with procedures, company standards, and contractual requirements.
• Define and maintain the Cost Breakdown Structure and ensure proper project budget allocation.
• Analyze the Original Control Budget and prepare the Revised Control Budget, highlighting deviations and critical areas.
• Monitor actual costs, committed costs, accruals, physical and economic progress, earned value, and value of work done.
• Prepare and update forecast data, including Estimate at Completion and Estimate to Completion.
• Promptly identify deviations from approved budget and current forecasts, proposing corrective actions and mitigation scenarios.
• Support the Project Manager in achieving economic, quarterly, and yearly targets, including costs, revenues, cash flow, and invoicing.
• Contribute to change management, claim management, and cost impact analysis related to contractual variations.
• Support the risk and opportunity management process through cost evaluations and scenario analysis.
• Prepare periodic project and company reports, including Cost Control Reports, Project Status Reports, cash flow, and management analyses.
• Collaborate with AFC, Procurement, Contract Management, Planning, and other project functions to ensure data consistency, compliance, and traceability.
• Promote a cost-conscious culture within the project team, with a proactive approach to economic performance and risk management.
• Ensure all project deliverables adhere to the company's QA/QC protocols and ISO standards.
• Execute and supervise engineering tasks using approved company and client methodologies.
• Enforce and monitor all Health, Safety, Environmental (HSE) and Quality Management procedures.

Candidate Profile

• Experience: 5-10 years of experience as a Cost Control Engineer, Project Control Engineer, or in similar roles within EPC, Oil & Gas, Energy, Engineering, Construction, or large industrial project environments.
• Budget Management: Proven ability to manage complex budgets, forecasts, cost reporting, cash flow, and variance analysis.
• Technical Knowledge: Advanced knowledge of project control, cost control, budgeting, forecasting, earned value, and reporting processes.
• System Integration: Experience in managing Cost Breakdown Structures, Work Breakdown Structures, and related integration with corporate systems.
• Financial Acumen: Familiarity with procurement processes, project accounting, accruals, invoicing, cash-in/cash-out, and AFC principles.
• Risk & Change Management: Ability to contribute to risk management, change management, and contract management processes.
• Software Proficiency: Advanced knowledge of tools such as SAP, PRISM, Primavera P6, advanced Excel, and project reporting systems.
• Work Environment: Ability to work effectively in international, multidisciplinary, and complex environments.
• Language: Excellent written and spoken English.

Work Environment and Benefits

This role is based in Al Khobar, Eastern region, and is a full-time position. The successful candidate may have opportunities for international travel based on project assignments. Saipem offers a comprehensive benefits package and supports professional development through its One Saipem Way soft skills model, which focuses on skill development, career growth, and opportunities to innovate through complex challenges by promoting communication and collaboration. Saipem values diversity, mutual respect, collaboration, and inclusion, believing that differences drive progress. The company also prioritizes the health and safety of its people and the preservation of the natural ecosystem in all operations.

Application Process

Candidates who believe they can contribute to Saipem's business development are encouraged to apply. If this specific role does not perfectly align with your profile, you may consider applying through the spontaneous application form.