Cost Control Officer at Power International Holding

, , Saudi Arabia -

Full Time

Start Date

Immediate

Expiry Date

02 May, 26

Salary

0.0

Posted On

01 Feb, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Cost Control, Financial Analysis, Budget Management, Cost-Benefit Evaluation, Variance Analysis, Financial Forecasting, Contract Negotiation, Resource Allocation, ERP Knowledge, Project Cost Planning, Cost Management, Leadership, Agility, Resilience, Quality, Financial Reporting

Industry

Holding Companies

Description

Job Summary The Cost Control Officer is responsible to monitor and manage project expenditures, ensuring adherence to budgets and identifying areas for cost-saving opportunities. They analyze financial data, track expenses, and implement strategies to optimize project profitability while maintaining quality standards. Additionally, they provide financial insights and recommendations to support informed decision-making and mitigate financial risks. Job Responsibilities 1 Monitor project budgets and expenditures to ensure adherence to financial plans and identify any variances or discrepancies. Track and analyze project expenses, including labor costs, material purchases, subcontractor fees, and overhead expenses, to maintain accurate financial records. Conduct cost analysis and cost-benefit evaluations to identify cost-saving opportunities, optimize resource allocation, and improve project profitability. Prepare financial forecasts and projections based on project timelines, resource requirements, and market trends to support long-term planning and decision-making. Perform variance analysis to compare actual costs against budgeted costs, investigating any deviations and implementing corrective actions as needed to mitigate financial risks. Generate regular reports and financial statements summarizing project costs, expenses, and budget performance for management review and decision-making purposes. Develop and implement cost control procedures, policies, and best practices to enhance efficiency, streamline processes, and minimize wastage. Assist in contract negotiations, review contract terms and conditions, and ensure compliance with contractual agreements to mitigate financial risks and optimize cost-effectiveness. Collaborate with vendors, suppliers, and subcontractors to negotiate pricing, terms, and payment schedules, ensuring cost competitiveness and adherence to budgetary constraints. Provide financial advice and recommendations to project managers and stakeholders on cost-related matters, including budget planning, forecasting, and risk assessment, to support informed decision-making and project success. 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 Job Responsibilities 2 Additional Responsibilities 3 Job Knowledge & Skills Knowledge of cost control packages such as CCS (Candy) will be a distinct advantage Knowledge in project cost planning, scheduling and reporting Knowledge of the Operating Procedures for Project Controls and Cost Management functions Proficient with computer programs and a working knowledge of new technology ERP knowledge preferably SAP functional skills are a requirement to be successful in this role.Job Experience Minimum 5 year(s) working experience, 3 year(s) relevant working experience, 2 year (s) GCC is a plusCompetencies ResilienceAgilityQualityLeadershipCost Management L2Cost Control L2Project Estimating L2Financial Reporting L2Projects-Commercial L2Education Bachelor's Degree in Accounting or any related field

Responsibilities

The Cost Control Officer is responsible for monitoring project expenditures and ensuring adherence to budgets while identifying cost-saving opportunities. They analyze financial data, track expenses, and implement strategies to optimize project profitability.