Senior Cost Controls Specialist

McDermott International,; Greater London; On-site; GBP 80,000 - 100,000; Full time

Job summary

A leading engineering firm is seeking a Senior Cost Controls Specialist to enhance costing practices and mentor junior staff. The role involves analyzing cost forecasts, setting up project control systems, and ensuring contractual adherence. The ideal candidate should have a Bachelor's degree and 7-10 years of relevant experience. This position offers opportunities for professional growth within a dynamic team environment.

Qualifications

• Bachelor’s degree in Business, Finance, Engineering, or related fields.
• 7-10 years of relevant experience in a similar role.
• Proficient in MS Office and analytical tasks.

Responsibilities

• Understand and apply contractual requirements via project controls execution.
• Set up project controls systems and reports.
• Analyze cost forecasting and recommend recovery solutions.

Skills

Problem-solving attitude

Coordination skills

Cost estimation knowledge

Teamwork

Analytical skills

Education

Bachelor’s degree in relevant fields

7-10 years of experience

Tools

MS Office

JD Edwards (understanding)

Job description

Job Overview

The Senior Cost Controls Specialist uses best practices and knowledge of internal or external issues to improve the costing discipline within McDermott. They will act as a resource for colleagues with less experience and share their conceptual and practical expertise related to the cost discipline. The Senior Cost Controls Specialist solves complex problems and uses their discipline‑specific knowledge to improve their products or services. The Senior Cost Controls Specialist impacts a range of customer, operational, project, or service activities.

Qualifications

Essential Qualifications and Education:

• Bachelor’s degree in Business, Finance, Engineering, Construction Management, or related fields or
• 7-10 years of experience in a similar role
• Good knowledge of MS Office
• Problem‑solving attitude and high level of coordination skills
• Ability to understand the project scope, schedule, and its relationship to cost and progress
• Demonstrated effectiveness in prioritizing multiple tasks, and managing efforts to meet deadlines
• Demonstrated effectiveness in working with others in a multifunctional team
• Has good working knowledge and understanding of cost, schedule, estimating, and accounting interfaces
• A basic understanding of JD Edwards is a plus

Key Tasks and Responsibilities

• Understands constructability concepts, workflow processes (the how it’s built) & related interdependencies between Engineering, Procurement, Fabrication, and Construction
• Able to understand and apply contractual requirements and implementation on the project via the project controls execution plan
• Set up and implement project controls systems
• Set up and maintain project controls reports
• Adheres to McDermott's internal project controls processes
• Analyze and interpret cost forecasting and trending
• Recommend solutions or recovery plans for problem areas
• Prepare Project Forecast monthly
• Assist finance in preparation of the project cash flows and cost spread
• Participate in proposal development, commercial alignment, and project kickoff processes
• Train junior personnel in all aspects of cost reporting
• Monitor variations from the scope of work, capture, maintain, and assess related impacts
• Set up and maintain the progress measurement system
• Lead change management efforts, including building of cost estimates and applying or managing amendments to the contract
• Implement and support the Change Management process
• Support the Subcontract Management team in verification of progress and earned value against invoices received
• Support determining the required monthly accruals that are processed by accounts payable
• Monitor cost coding system is properly applied, and information flow is correct and complete
• Analyze committed costs and activities to date, actual vs budget, performance, and productivity
• Perform any other related duties as required