Cost Optimization Specialist

5 days ago

Silverstone, Northamptonshire, United Kingdom Aston Martin F1 Team Full time
About the Role:

We are seeking a highly skilled Cost Optimization Specialist to join our Finance team at Aston Martin Aramco Formula One Team. As a Cost Optimization Specialist, you will play a crucial role in leading the effort to optimize cost efficiencies throughout the engineering and manufacturing value stream.

Key Responsibilities:
  • Develop and maintain detailed value stream maps to identify key areas for cost reduction and provide financial insight to proposed process improvements.
  • Perform in-depth cost analysis across the entire value stream, identifying cost drivers, inefficiencies, and opportunities for savings.
  • Contribute and evaluate financial impact on initiatives to streamline manufacturing processes, and eliminate waste, with a view to reduce departmental spend.
  • Work closely with design, production, procurement, and quality teams to ensure integrated and cost-efficient processes.
  • Establish and monitor key performance indicators (KPIs) to track cost efficiency and process improvements across the value stream.
  • Develop and manage budgets for value stream projects, ensuring alignment with organisational financial goals.
  • Collaborate with procurement to evaluate supplier cost structures and ensure cost-effective sourcing.
  • Generate regular reports and presentations for senior management, highlighting cost savings.
  • Identify and mitigate cost-related risks within the value stream to ensure financial control and stability.
  • Support finance business partner with tracking of actual costs throughout the month, providing visibility of actual cost impact from specific products/projects.
  • Work with ERP development team to review and improve methods of collating and presenting cost data.
  • Provide KPI matrix for cost targets, measuring departments' performance against budget stretch reduction commitments, challenging stakeholders where necessary.
  • Assist with budgeting and forecasting.
Requirements:
  • Proficiency in cost engineering processes and systems.
  • Engineering background / motorsport / F1.
  • Working knowledge of engineering processes, principles, and methodologies and ability to convert these into meaningful financial data and insights.
  • High attention to detail and superb analytical skills, including competence in identifying trends and forecasting costs.
  • Ability to interpret part drawings and convert to meaningful financial data.
  • Ability to multitask and prioritize tasks, with excellent time management skills.
  • Well-developed organisational skills.
  • Have a hands-on practical approach.
  • High professional standards including quality of work, accuracy, and attention to detail.
  • Calm and confident under pressure and comfortable in a fast-paced and challenging environment.
  • Effective verbal and written communication skills and ability to present complex information clearly to stakeholders.
  • Advanced skills in Microsoft Office Suite, especially Excel and Power BI.
  • Experience with ERP systems is a plus.

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