Cost Accountant

HGS Offshore Staffing Solutions (HGS OSS); Taguig; On-site; PHP 900,000 - 1,200,000; Full time

Job summary

HGS Offshore Staffing Solutions is seeking a Project Controls professional to manage project budgets, cost structures and forecasting in a fast-paced environment in Metro Manila. You will work with project managers and Finance to maintain reliable budgets and cost-to-complete forecasts, and identify financial risks early to protect margins and cash flow.

The role covers cost monitoring, variations, month-end reporting and continuous improvement of cost control practices.

Qualifications

• Qualified in accounting, finance, engineering, quantity surveying or project controls.
• 3+ years demonstrated cost control experience in project-based environments.
• Experience with budgets, cost coding, commitments, accruals and EACs.
• Strong Excel skills with large data analysis and ERP/job costing experience.
• Clear written and spoken English communication of financial issues.
• Experience across multiple projects, including foreign currency costs.
• Power BI or similar reporting tools experience.

Responsibilities

• Translate estimates into control budgets, cost codes and baselines.
• Maintain budget baselines and track transfers, variations and forecast changes.
• Validate labour, materials, subcontract, plant and site overhead allowances.
• Review actual costs and commitments, investigate variances and ensure accuracy.
• Reconcile POs, subcontract commitments and goods/services with Finance.
• Provide monthly cost reports, accruals and WIP schedules; support forecast accuracy.
• Coordinate forecasts with PMs to assess estimates to complete and margins.
• Highlight margin deterioration and escalate issues with owners and due dates.

Skills

Cost control

Excel skills

ERP experience

Power BI

Budgeting

English comms

Education

Accounting/Finance

Tools

ERP system

Job description

Provide accurate and timely visibility of project costs, commitments, productivity and forecast outcomes. Work with project managers and Finance to maintain reliable budgets and cost-to-complete forecasts, identify financial risks early and support action to protect project margins and cash flow.

KEY RESPONSIBILITIES:

1. Project budgets and cost structures

• Translate approved estimates and project handovers into control budgets, work breakdown structures and cost codes aligned with project scope and reporting requirements.
• Maintain approved budget baselines and records of authorised transfers, variations and forecast changes, preserving visibility against the original budget.
• Validate labour, materials, subcontract, plant, freight, mobilisation and site overhead allowances with Estimating, Procurement and project teams.

2. Cost monitoring and financial control

• Review actual costs and open commitments against budget by project, work package and cost category. Investigate coding errors, missing costs, duplicate charges and unexpected movements.
• Reconcile purchase orders, subcontract commitments and goods or services received with Finance and Procurement. Identify required accruals and prevent double counting.
• Monitor labour hours, overtime, labour rates, installation productivity, plant utilisation and material consumption. Explain the financial impact of variances.

3. Forecasting and margin management

• Coordinate regular forecast reviews with project managers. Use progress, remaining quantities, labour hours, procurement commitments and delivery schedules to assess the estimate to complete.
• Prepare estimates at completion, forecast gross margins and variance commentary. Reconcile movements from the previous forecast and distinguish approved budget changes from cost overruns.
• Challenge unsupported assumptions, overstated progress and incomplete remaining costs. Escalate margin deterioration, forecast losses and contingency usage promptly.
• Maintain forecast assumptions, risks, opportunities and corrective actions, with clear owners and due dates. Track actions through to resolution.

4. Variations and commercial support

• Track the cost and forecast impact of scope changes, delays, rework and variations, distinguishing approved, submitted and potential changes.
• Provide cost records for variation pricing, extension of time claims and commercial negotiations, working with project managers and Commercial.
• Reflect variation costs and recoverability risks transparently in forecasts. Refer revenue recognition decisions to Finance under the approved accounting policy.

5. Month end and project reporting

• Deliver project cost reports, commitment reports, forecast summaries and exception commentary to the agreed weekly and month-end timetable.
• Provide Finance with reconciled project data, accrual recommendations and supporting work in progress (WIP) schedules. Assist with assessments of progress, forecast margins, unbilled amounts and project loss exposures.
• Reconcile project reports to the general ledger with project accountants and retain evidence supporting adjustments and forecast movements.
• Present concise findings to project managers, PMO and Finance, identifying the issue, financial impact, required decision, action owner and due date.

6. Cash flow and continuous improvement

• Provide procurement, subcontract and remaining-cost forecasts for project cash flow planning. Flag timing pressures, retentions and significant upcoming commitments.
• Support project close-out by identifying outstanding costs, open orders, unresolved variations and final forecast adjustments.
• Improve cost coding, reporting templates and forecasting processes. Coach project teams in consistent cost control practices.

QUALIFICATIONS AND EXPERIENCE:

• Relevant qualification in accounting, finance, engineering, quantity surveying or project controls, or equivalent practical experience.
• Demonstrated cost control experience in construction, electrical, industrial, engineering or another project-based contracting environment, typically three or more years.
• Practical experience with project budgets, cost coding, commitments, accruals, labour productivity and estimates to complete.
• Strong Excel skills, including lookup functions, pivot tables and analysis of large datasets, plus experience using an ERP or job costing system.
• Ability to interpret estimates, purchase orders, subcontract arrangements and project progress information, and communicate financial issues clearly in written and spoken English.
• Experience across multiple projects or entities, including Pacific operations, foreign currency costs or switchboard manufacturing.
• Experience with Power BI or comparable reporting tools and integrating cost information with project schedules.