Cost Controller (225-811)

A Cost Controller plays a critical role in the financial health and efficiency of an organization. They are responsible for monitoring and controlling project expenditures to ensure costs are kept within the planned budget. They work closely with project managers, finance teams, and other departments to analyze financial data and manage budgetary constraints. Cost Controllers also develop cost control strategies and perform cost performance analysis to improve financial efficiency. Their expertise helps companies make informed economic decisions and minimize excess spending. In addition to maintaining financial records and enforcing compliance with company policies, Cost Controllers are instrumental in forecasting future financial outcomes and identifying any potential economic risks.

Responsibilities

• Monitor and manage actual project costs against the budgeted costs on an ongoing basis.
• Prepare and provide detailed financial analysis and cost reports to senior management.
• Coordinate with project managers to draft and revise project budgets and forecasts.
• Implement cost control strategies to improve overall financial efficiency and performance.
• Conduct variance analysis to identify and report discrepancies in budget and actual spending.
• Develop financial models and analyses to assess future financial performance and risks.
• Ensure compliance with company policies and regulatory standards in financial reporting.
• Liaise with various departments to ensure alignment of budgetary goals and objectives.
• Facilitate regular meetings with project teams to discuss cost-related issues and solutions.
• Maintain accurate financial records and documentation for auditing and reporting purposes.
• Lead the preparation of cost estimates for new projects and business opportunities.
• Provide support and training to staff regarding cost control processes and systems.

Requirements

• Bachelor's degree in finance, accounting, or related field is required.
• Proven experience in a cost control or financial management role is necessary.
• Strong analytical skills with proficiency in financial analysis and variance reporting.
• Excellent attention to detail and accuracy in financial record-keeping and reporting.
• Ability to multitask and work under pressure to meet tight deadlines.
• Proficient in using financial management software and advanced Excel skills.
• Strong communication skills to effectively liaise with diverse teams and stakeholders.
• Ability to develop and implement strategic cost control measures and processes.
• Knowledge of industry standards and regulatory requirements in financial reporting.
• Possess strong problem-solving skills to address financial discrepancies and challenges.