Cost Engineer

Millbank Holdings; Hull and East Yorkshire; On-site; GBP 42,000 - 65,000; Full time

Job summary

Millbank Holdings Ltd is seeking two experienced Cost Engineers to join our delivery team for major engineering and construction programmes. You will manage cost control, forecasting, and commercial reporting to support project delivery, working closely with project, commercial and finance teams.

You will need NEC4 Option B contract experience, NAECI commercial knowledge, and proficiency in cost reporting tools such as SAP and Power BI to drive profitability and performance across complex

Qualifications

• Experience with NEC4 Option B contracts.
• Knowledge of the NAECI Agreement and its commercial application.
• Proven experience supporting major construction, engineering or infrastructure projects.
• Strong commercial awareness within a contractor-led environment.
• Proficiency in cost reporting and financial management systems (SAP, Power BI or similar).

Responsibilities

• Produce accurate cost reports and support month-end submissions.
• Review measurements, valuations and cost forecasts.
• Monitor project performance against budget and manage cost risks.
• Prepare accruals, provisions, and expenditure forecasts.
• Analyse cost data using financial and reporting systems.
• Manage subcontractor commercial activities including valuations and payments.
• Support change control processes and variations.
• Produce cost-to-complete assessments and cash flow projections.
• Support payment applications and commercial reporting requirements.
• Facilitate commercial review meetings with project teams and supply chain partners.
• Conduct commercial audits and identify profitability improvements.

Skills

Cost reporting

Forecasting

Contract management

Valuations

Stakeholder management

Analytical mindset

Tools

SAP

Power BI

Job description

The Opportunity

We are seeking two experienced Cost Engineer to join a dynamic delivery team supporting major engineering and construction programmes. This is an excellent opportunity for a commercially focused professional to play a key role in cost management, forecasting, financial reporting, and commercial performance. You will work closely with project, commercial, and finance teams to ensure accurate cost control and support successful project delivery.

Your duties and responsibilities will be:

• Producing accurate cost reports and supporting month-end financial submissions.
• Reviewing and validating measurements, valuations, and cost forecasts.
• Monitoring project performance against budget and managing cost risks.
• Preparing accruals, provisions, and expenditure forecasts.
• Analysing cost data using financial and reporting systems.
• Managing subcontractor commercial activities, including valuations, payments, and contract compliance.
• Supporting change control processes, including the assessment of variations and compensation events.
• Producing cost-to-complete assessments, value forecasts, and cash flow projections.
• Supporting payment applications and commercial reporting requirements.
• Facilitating commercial review meetings with project teams and supply chain partners.
• Conducting commercial audits and identifying opportunities to improve profitability and project performance.

You will have the following qualifications & experience:

• Experience working with NEC4 Option B contracts.
• Knowledge of the NAECI Agreement and its commercial application.
• Proven experience supporting major construction, engineering, or infrastructure projects.
• Understanding of industry-standard measurement and valuation practices.li>Strong commercial awareness gained within a contractor-led environment.
• Proficiency in cost reporting and financial management systems such as SAP, Power BI, or similar.
• Strong analytical, communication, and stakeholder management skills.

Millbank Holdings Ltd is an equal opportunities employer committed to creating an inclusive and diverse workforce. We welcome applications from all suitably qualified individuals, regardless of background, and encourage candidates from underrepresented groups to apply.

We are proud to be a member of the Disability Confident Scheme, and we are committed to ensuring an accessible and supportive recruitment process for everyone. If you require any adjustments at any stage, please let us know and we’ll do our best to accommodate.

Millbank operates as both an Employment Agency and an Employment Business