Engineer I, Budget & Cost Control

AL-AYUNI Investment and Contracting Company; Riyadh; On-site; SAR 80,000 - 100,000; Full time

Job summary

A leading company in the construction sector is seeking a Budget & Cost Control Engineer to manage project budgets, perform cost analysis, and ensure compliance with financial standards. The ideal candidate will have a strong background in financial reporting, vendor management, and cost optimization strategies. This role requires collaboration with project teams to align financial goals and implement effective resource allocation strategies.

Qualifications

• At least 5 years of experience in a similar role.
• Proficiency with financial software and project management tools.

Responsibilities

• Develop and review project budgets and cost estimates.
• Track budget performance and actual costs.
• Prepare financial reports and conduct cost analysis.

Skills

Analytical Skills

Communication Skills

Decision-Making Ability

Attention to Detail

Education

Bachelor's degree in Engineering

Bachelor's degree in Finance

Bachelor's degree in Business Administration

Tools

Excel

ERP systems

Job description

Budget Development and Review: Develop, review, and update project budgets and cost estimates to ensure effective resource allocation.

Cost Monitoring: Track budget performance and actual costs versus forecasts, identifying and addressing variances.

Financial Reporting: Prepare accurate and comprehensive financial reports regarding costs and budgets, including variance analysis and providing recommendations for improvement.

Cost Analysis: Conduct in-depth financial analysis of projects, including forecasting future costs, and assist in making investment decisions based on these analyses.

Contract and Vendor Management: Coordinate with suppliers and contractors to ensure they adhere to the agreed-upon budget and effectively manage contracts.

Cost Optimization: Develop and implement strategies to reduce costs while maintaining project quality and specifications.

Collaboration with Teams: Work closely with project managers and other teams to ensure all activities align with financial goals of the projects.

Compliance with Standards: Ensure all financial activities and policies are in compliance with the organization's procedures.

• Budget Development and Review: Develop, review, and update project budgets and cost estimates to ensure effective resource allocation.

• Cost Monitoring: Track budget performance and actual costs versus forecasts, identifying and addressing variances.

• Financial Reporting: Prepare accurate and comprehensive financial reports regarding costs and budgets, including variance analysis and providing recommendations for improvement.

• Cost Analysis: Conduct in-depth financial analysis of projects, including forecasting future costs, and assist in making investment decisions based on these analyses.

• Contract and Vendor Management: Coordinate with suppliers and contractors to ensure they adhere to the agreed-upon budget and effectively manage contracts.

• Cost Optimization: Develop and implement strategies to reduce costs while maintaining project quality and specifications.

• Collaboration with Teams: Work closely with project managers and other teams to ensure all activities align with financial goals of the projects.

• Compliance with Standards: Ensure all financial activities and policies are in compliance with the organization's procedures.

Job requirements

• Education: Bachelor s degree in Engineering, Finance, Business Administration, or a related field.

• Experience: At least 5 years of experience in a similar role, preferably in an engineering, construction, or project management environment.

• Technical Skills: Proficiency with financial software (e.g., Excel, ERP systems), and project management tools.

• Analytical Skills: Ability to conduct complex financial analyses and provide actionable solutions.

• Communication Skills: Excellent verbal and written communication skills for interacting with teams and vendors.

• Decision-Making Ability: Ability to make strategic decisions that support the financial goals of projects.

• Attention to Detail: High level of accuracy and attention to detail in all financial aspects and reporting.

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