Senior Cost Controls Specialist

McDermott International, Ltd; Greater London; On-site; GBP 60,000 - 80,000; Full time

Job summary

McDermott International, Ltd is seeking a Senior Cost Controls Specialist in Greater London. This role requires overseeing project cost management and implementing effective controls. The ideal candidate will have a Bachelor's degree and 7-10 years of experience in similar roles, alongside strong problem-solving and coordination skills.

The position involves analyzing cost forecasting, adhering to project controls, and supporting the finance team with cash flows and reporting.

Qualifications

• 7-10 years of experience in a similar role.
• Good knowledge of MS Office.
• Ability to understand project scope and schedule.

Responsibilities

• Understand constructability concepts and workflow processes.
• Set up and implement project controls systems.
• Monitor variations from the scope of work.

Skills

Problem-solving attitude

Coordination skills

Cost management

Understanding of project scope

Prioritization

Education

Bachelor’s degree in Business, Finance, Engineering, or related fields

Tools

MS Office

JD Edwards

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.

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

Qualifications

• Bachelor’s degree in Business, Finance, Engineering, Construction Management, or related fields
• 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