Senior Cost Controls Specialist

2 months ago

London, Greater London, United Kingdom McDermott Corporation Full time
Job Overview:

The Senior Cost Controls Specialist uses best practices and knowledge of internal or external issues to improve the costing discipline within McDermott. They will act as a resource for colleagues with less experience and share their conceptual and practical expertise related to the cost discipline. The Senior Cost Controls Specialist solves complex problems and uses their discipline-specific knowledge to improve their products or services. The Senior Cost Controls Specialist impacts a range of customer, operational, project, or service activities.

Essential Qualifications and Education:
  • Bachelor's degree in Business, Finance, Engineering, Construction Management, or related fields or
  • 7-10 years of experience in a similar role
  • Good knowledge of MS Office
  • Problem-solving attitude and high level of coordination skills
  • Ability to understand the project scope, schedule, and its relationship to cost and progress
  • Demonstrated effectiveness in prioritizing multiple tasks, and managing efforts to meet deadlines
  • Demonstrated effectiveness in working with others in a multifunctional team
  • Has good working knowledge and understanding of cost, schedule, estimating, and accounting interfaces
  • A basic understanding of JD Edwards is a plus
    #LI-LJ1

    Key Tasks and

    Responsibilities:
    • Understands constructability concepts, workflow processes (the how it's built) & related interdependencies between Engineering, Procurement, Fabrication, and Construction
    • Able to understand and apply contractual requirements and implementation on the project via the project controls execution plan
    • Set up and implement project controls systems
    • Set up and maintain project controls reports
    • Adheres to McDermott's internal project controls processes
    • Analyze and interpret cost forecasting and trending
    • Recommend solutions or recovery plans for problem areas
    • Prepare Project Forecast monthly
    • Assist finance in preparation of the project cash flows and cost spread
    • Participate in proposal development, commercial alignment, and project kickoff processes
    • Train junior personnel in all aspects of cost reporting
    • Monitor variations from the scope of work, capture, maintain, and assess related impacts
    • Set up and maintain the progress measurement system
    • Lead change management efforts, including building of cost estimates and applying or managing amendments to the contract
    • Implement and support the Change Management process
    • Support the Subcontract Management team in verification of progress and earned value against invoices received
    • Support determining the required monthly accruals that are processed by accounts payable
    • Monitor cost coding system is properly applied, and information flow is correct and complete
    • Analyze committed costs and activities to date, actual vs budget, performance, and productivity
    • Perform any other related duties as required
      The Senior Cost Controls Specialist applies in-depth knowledge, experience, and best practices in cost and progress management. They are responsible for solving complex cost management problems and work independently with minimal guidance.

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