Cost Control Specialist

About the Role

TIBAH Airports (Madinah) is seeking a Cost Control Specialist to join their team in Medina, Al Madīnah. This full-time role is central to managing the company's annual OPEX and CAPEX budget cycle, ensuring all spending aligns with the strategic plan. The specialist will be responsible for developing and maintaining financial models required by various stakeholders and for proactively identifying and mitigating budget overruns.

Role Purpose and Impact

The primary purpose of this position is to ensure financial discipline and compliance across all projects and departments. The Cost Control Specialist will track spending against budget, ensure all costs comply with IFRS, SOCPA, and regulatory requirements, and provide senior management and the Board with clear, timely reports on cost performance. This role requires 2-5 years of relevant experience.

Key Responsibilities

• Lead the annual OPEX and CAPEX budget preparation process with department heads, challenging assumptions and ensuring alignment with corporate strategy.
• Review and validate financial data from departments for accuracy and completeness, and develop budget templates, timelines, guidelines, and procedures.
• Develop and update financial models for CAPEX projects in line with lender, shareholder, and Grantor requirements, and coordinate with lenders on project finance reporting.
• Monitor cost versus budget for each OPEX and CAPEX project and department, identifying potential overruns early and proposing mitigation plans.
• Analyze cost drivers to identify savings and efficiency opportunities.
• Maintain cost control systems within the ERP, ensuring correct setup of WBS elements, cost centers, and internal orders.
• Validate all fixed asset capitalization before recording in the ERP and drive automation of budget reporting.
• Work with Operations and project teams to validate scope changes and their budget impact prior to management approval.
• Establish cost control policies, approval matrices, and guidelines for project controls.
• Partner with Procurement on contract commitments, accruals, and purchase order tracking to prevent budget leakage.
• Prepare Board and Management Packs, including KPI dashboards, cost trends, commitments versus actuals, and forecast outlook.
• Ensure all costs are captured in compliance with IFRS, SOCPA, and other regulatory requirements.
• Support internal and external audits related to budget, accruals, CAPEX capitalization, and project finance reporting.
• Provide monthly, quarterly, and annual budget performance reports to senior management.

Qualifications and Experience

• 3-5 years of experience in cost control, financial planning, or a related field.
• Demonstrated experience in managing OPEX and CAPEX budget cycles.
• Proficiency in developing and maintaining complex financial models.
• Strong understanding of IFRS, SOCPA, and other relevant regulatory requirements.
• Experience with ERP systems, specifically in setting up WBS elements, cost centers, and internal orders.

Required Skills

• Analytical skills to identify cost drivers and efficiency opportunities.
• Ability to challenge assumptions and enforce alignment with corporate strategy.
• Strong communication skills for coordinating with various departments and external stakeholders.
• Attention to detail for validating financial data and ensuring compliance.
• Problem-solving skills to propose and implement mitigation plans for budget overruns.

Application Process

Candidates who meet the qualifications and are interested in this full-time Cost Control Specialist position are encouraged to apply. Salary details will be discussed during the interview process.