Senior Cost Controller

1 week ago

Baghdad, Baghdad, Iraq Elite Talent Full time

The Cost Controller is responsible for monitoring, analyzing, and controlling project costs to ensure financial efficiency and compliance with budgets for Power Plants and Oil & Gas (O&G) Rehabilitation & Maintenance projects. This role involves tracking expenditures, forecasting costs, identifying variances, and implementing corrective actions to optimize project financial performance.

Requirements

1. Cost Monitoring & Control:


• Develop, implement, and maintain cost control procedures for rehabilitation and maintenance projects.


• Track and analyze project expenditures against approved budgets.


• Identify cost variances, investigate root causes, and recommend corrective actions.


• Ensure all project costs (labor, materials, subcontractors, equipment) are accurately recorded and reported.

2. Budgeting & Forecasting:


• Assist in preparing project budgets and cost estimates for rehabilitation and maintenance works.


• Update cost forecasts based on project progress, change orders, and market trends.


• Provide monthly cost reports, including Earned Value Analysis (EVA), to management.

3. Financial Reporting & Analysis:


• Prepare detailed cost reports, cash flow projections, and variance analysis.


• Liaise with project managers, engineers, and procurement teams to validate costs.


• Ensure compliance with company policies, accounting standards, and contractual obligations.

4. Contract & Change Order Management:


• Review and validate contractor/subcontractor invoices and change orders.


• Monitor contract terms to avoid cost overruns and disputes.


• Support claims management and dispute resolution related to project costs.

5. Risk Management & Cost Optimization:


• Identify financial risks and propose mitigation strategies.


• Recommend cost-saving measures without compromising quality or safety.


• Conduct cost benchmarking against industry standards.

6. Collaboration & Communication:


• Work closely with project teams, finance, and procurement departments.


• Present cost performance updates to senior management and stakeholders.


• Ensure alignment between cost control and project scheduling.

Qualifications & Skills:


• Bachelor's degree in Engineering, Finance, Accounting, or Quantity Surveying.


• 5+ years of cost control experience in Power Plants, Oil & Gas, or Heavy Industrial Maintenance/Rehabilitation projects.


• Proficiency in cost control software (SAP, Oracle, Primavera, MS Project, Excel).


• Knowledge of Earned Value Management (EVM) and project accounting.


• Strong analytical and problem-solving skills.


• Attention to detail and accuracy in financial reporting.


• Excellent communication and presentation skills.


• Ability to work under pressure and meet deadlines.


• Familiarity with FIDIC contracts and industry best practices is a plus.

Work Environment:


• Office-based with occasional site visits to Power Plants/O&G facilities.


• May require travel to project locations.

Benefits

  • Private Health Insurance
  • Pension Plan
  • Paid Time Off
  • Training & Development
  • Performance Bonus

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