Cost Controller - Finance

Secondary School (Academic / General), Bachelor of Arts

Nationality: Male

Vacancy: 1 Vacancy

Job Title: Project Cost Controller

Qualifications:

CWA/CMA with 8 years of experience in EPC Industry must.

Key Responsibilities:

1. Monitor, analyze, and report on project costs for large-scale EPC projects.
2. Track costs across engineering, procurement, and construction phases, ensuring alignment with budgets.
3. Prepare detailed variance reports, analyzing the causes of deviations between budgeted and actual costs.
4. Validate the Petty Cash and Non-PO Based Expense of Projects, Supplier assessment, advance to suppliers, utilization of credit facility and credit period.
5. Collaborate with project teams to track progress and update percentage-of-completion calculations as per IFRS 15.
6. Provide insights and reports on cost performance, profit margins, and project cash flow on a regular basis.
7. Ensure compliance with contractual agreements and project-specific financial regulations.
8. Validate costs in line with the contract terms and identify any cost overruns or savings opportunities.
9. Conduct audits to ensure all costs are allocated accurately to their respective projects and phases.
10. Work with procurement to control and analyze material and service costs.
11. Ensure proper valuation of inventory used for EPC projects and implement strategies to minimize waste and cost.

Risk Management and Cost Optimization:

1. Identify potential risks related to project costs, including scope changes, delays, or unexpected expenses.
2. Recommend strategies for cost reduction, such as value engineering or efficiency improvements.

Fixed Assets Management at Project Site:

1. Track, record, and monitor fixed assets (e.g., machinery, equipment) at the project site to ensure proper utilization and maintenance.
2. Oversee asset capitalization, depreciation calculations, and ensure compliance with relevant accounting standards (e.g., IAS 16 for Property, Plant, and Equipment).
3. Conduct periodic asset audits and reconcile asset records to ensure accuracy and prevent asset misplacement or misuse.
4. Prepare regular financial and cost reports, analyzing project expenses, and forecasting costs for project budgeting purposes.
5. Generate monthly, quarterly, and annual reports for COO, Project managers, detailing variances, expected cost overruns, and other key financial metrics.
6. Collaborate with the finance department to support overall financial reporting.

Required Skills:

• Knowledge of Standards: Familiarity with all IFRS, particularly IFRS 15 (Revenue from Contracts with Customers), IFRS 9, IFRS 16 and IAS 16.
• Industry-Specific Knowledge: Understanding of EPC project lifecycle, cost drivers, and risks.
• Technical Proficiency: Familiarity with project management and accounting software (SAP, Oracle).
• Analytical Skills: Strong skills in cost analysis, budgeting, and variance analysis.
• Communication Skills: Ability to present cost information and insights effectively.