Cost Control Officer

Power International Holding (PIH); Saudi Arabia; On-site; SAR 120,000 - 180,000; Full time

Job summary

Power International Holding (PIH) is seeking a Cost Control Officer to monitor and manage project expenditures, ensuring budgets are respected and identifying cost-saving opportunities. The role requires analyzing financial data, preparing forecasts, and performing variance analysis to support informed decision-making.

You will work to optimize profitability, collaborate with project managers and suppliers, and contribute to risk mitigation within Saudi Arabia's project landscape.

Qualifications

• Experience with cost control and budgeting in large projects.
• Ability to analyze cost variances and provide actionable insights.
• Familiarity with procurement, contracts, and risk assessment.
• Strong Excel and data analysis skills.

Responsibilities

• Monitor project budgets and expenditures to ensure alignment with financial plans.
• Track and analyze project costs including labor, materials, subcontractors, and overhead.
• Conduct cost analyses and cost-benefit evaluations to identify savings opportunities.
• Prepare forecasts and projections based on timelines, resources, and market trends.
• Perform variance analysis and implement corrective actions to mitigate risks.
• Generate regular cost reports and statements for management review.
• Develop and implement cost control procedures and best practices.
• Assist in contract reviews to optimize cost-effectiveness and compliance.
• Collaborate with vendors and stakeholders on pricing and payment terms."],
• CoT_job_summary_short
• COMPANY NAME: Power International Holding (PIH)
• KEY POINTS: Monitor budgets, conduct cost analysis, mitigate financial risks, manage procurement
• job_summary_short
• <p>Power International Holding (PIH) is seeking a Cost Control Officer to monitor and manage project expenditures, ensuring budgets are respected and identifying cost-saving opportunities. The role requires analyzing financial data, preparing forecasts, and performing variance analysis to support informed decision-making.</p><p>You will work to optimize profitability, collaborate with project managers and suppliers, and contribute to risk mitigation within Saudi Arabia's project landscape.</p>
• contract_type
• fulltime
• location_type
• on site
• remote_scope
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• perks
• []
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• salary_estimation_cot
• Cost Control Officer in Saudi Arabia: market rate SAR 120k–180k gross annually.
• estimated_low
• 120000
• estimated_medium
• 150000
• estimated_high
• 180000
• currency
• SAR
• frequency
• yearly
• bonus
• null
• tax
• gross
• application_email
• null
• job_end_date
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• hiring_department_name
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Skills

Cost control packages (Candy CCS)

Cost planning & scheduling

Project controls procedures

Computer proficiency & tech literacy

SAP knowledge

Education

Bachelor's Degree in Accounting or related field

Tools

Candy CCS

SAP

Job description

Select how often (in days) to receive an alert: Create Alert

The Cost Control Officer is responsible to monitor and manage project expenditures, ensuring adherence to budgets and identifying areas for cost-saving opportunities. They analyze financial data, track expenses, and implement strategies to optimize project profitability while maintaining quality standards. Additionally, they provide financial insights and recommendations to support informed decision-making and mitigate financial risks.

Job Responsibilities 1

Monitor project budgets and expenditures to ensure adherence to financial plans and identify any variances or discrepancies.

Track and analyze project expenses, including labor costs, material purchases, subcontractor fees, and overhead expenses, to maintain accurate financial records.

Conduct cost analysis and cost-benefit evaluations to identify cost-saving opportunities, optimize resource allocation, and improve project profitability.

Prepare financial forecasts and projections based on project timelines, resource requirements, and market trends to support long-term planning and decision-making.

Perform variance analysis to compare actual costs against budgeted costs, investigating any deviations and implementing corrective actions as needed to mitigate financial risks.

Generate regular reports and financial statements summarizing project costs, expenses, and budget performance for management review and decision-making purposes.

Develop and implement cost control procedures, policies, and best practices to enhance efficiency, streamline processes, and minimize wastage.

Assist in contract negotiations, review contract terms and conditions, and ensure compliance with contractual agreements to mitigate financial risks and optimize cost-effectiveness.

Collaborate with vendors, suppliers, and subcontractors to negotiate pricing, terms, and payment schedules, ensuring cost competitiveness and adherence to budgetary constraints.

Provide financial advice and recommendations to project managers and stakeholders on cost-related matters, including budget planning, forecasting, and risk assessment, to support informed decision-making and project success.

Support the implementation of HSE initiatives, participate in safety awareness activities, and contribute to incident reporting and resolution in alignment with company and IMS policies

Job Responsibilities 2

Additional Responsibilities 3

Job Knowledge & Skills

Knowledge of cost control packages such as CCS (Candy) will be a distinct advantage

Knowledge in project cost planning, scheduling and reporting

Knowledge of the Operating Procedures for Project Controls and Cost Management functions

Proficient with computer programs and a working knowledge of new technology

ERP knowledge preferably SAP functional skills are a requirement to be successful in this role.

Job Experience

Minimum 5 year(s) working experience, 3 year(s) relevant working experience, 2 year (s) GCC is a plus

Resilience

Agility

AI Fluency

Quality

Leadership

Cost Management L2

Cost Control L2

Projects-Commercial L2

Education

Bachelor's Degree in Accounting or any related field