Cost Control & Budget Specialist – Construction

Cost Control & Budget Specialist – Construction

We are seeking a skilled and detail-oriented Cost Control and Budget Specialist to join our construction team. The ideal candidate will play a crucial role in monitoring project costs, analyzing budgets, and implementing cost-saving measures to ensure the successful completion of construction projects within budgetary constraints. This position requires a strong understanding of construction finance, excellent communication skills, and the ability to collaborate effectively with project managers and other stakeholders.

Key Responsibilities:

1. Prepare and generate detailed financial reports and presentations, offering comprehensive insights into cost performance, budget compliance, and strategic financial planning for decision-making purposes.
2. Conduct routine audits and assessments of financial procedures, identifying possible risks and executing corrective actions to maintain cost efficiency and adherence to established policies.
3. Develop and maintain project budgets, ensuring accuracy and alignment with organizational goals.
4. Budget preparation and spending tracking, and coordinate with Finance department effectively.
5. Monitor project expenditures and track variances against budgeted costs.
6. Analyze financial data to identify trends, forecast future expenses, and recommend cost-saving initiatives.
7. Collaborate with project managers and finance team to ensure timely and accurate reporting of financial information.
8. Identify areas of potential cost overrun and implement corrective actions to mitigate risks.
9. Conduct regular audits of project expenses to ensure compliance with budgetary guidelines and policies.
10. Prepare presentations for management review, highlighting key performance metrics and areas for improvement.
11. Evaluate vendor contracts and negotiate favorable terms to optimize cost efficiencies.
12. Provide guidance and support to project teams on cost control best practices and procedures.
13. Stay updated on industry trends and best practices in cost management and budgeting.

Desired Candidate Profile:

1. Bachelor’s degree in construction management, Finance, Accounting, or related field.
2. Minimum of 7 years of experience in cost control, budget management, or financial analysis within the construction industry.
3. Strong understanding of construction finance principles, cost estimating methodologies, and project accounting practices.
4. Proficiency in construction management software (e.g., Procore, Viewpoint) and Microsoft Excel for budgeting, forecasting, and reporting.
5. Excellent analytical and problem-solving skills, with the ability to interpret complex financial data and provide actionable insights.
6. Effective communication and interpersonal skills, with the ability to collaborate with cross-functional teams and external stakeholders.
7. Detail-oriented with a focus on accuracy and precision in financial reporting and documentation.
8. Proven ability to work effectively in a fast-paced construction environment and prioritize tasks to meet project deadlines.
9. Professional certification (e.g., CCIFP, PMP) or relevant industry accreditation is a plus.

Employment Type: Full Time

Company Industry: Construction, Civil Engineering

Department / Functional Area: Accounts, Taxation, Audit, Company Secretary