Cost Control Officer

Part A: Job Specification

Job Purpose

• Assist and complete cost control activities for the department to achieve corporate cost target by providing detailed cost models and allocation in accordance with established policies, procedures, instructions and targets.

Reporting and Relationships - I

• Reports to Head of Business Support (CAT II & III or Barzan).
• Direct report: None (Total Headcount: 0).

Internal

• Regular contact with Finance, Accounting, Procurement, Contracts, Major Projects, Engineering & Ventures and Maintenance department.

External

• Frequent contacts with contractors and vendors.

Reporting and Relationships - II

Job Context & Major Challenge(s) - I

• Key person in developing project cost models, forecasts and ensuring expenses are within approved budget expenditure during project implementation until completion.
• Major challenges include; (1) applied SAP cost object usage; (2) understanding the cost flows from first incurred cost objects to venture company ledgers; (3) meeting planning cycle timelines; (4) ensuring cost planning models capture sufficient granularity to facilitate subsequent stewardship; (5) ensuring robust cost budget and forecast reviews; (6) implementing procurement & sourcing strategies and related policies and procedures.

Job Context & Major Challenge(s) - II

Financial Dimension

• As defined for this job level in the Delegation of Authority and/or approved budget.

Generic Accountabilities - All Employees

Safety Health & Environment

• Ensure all activities are undertaken in compliance with Company Safety, Health and Environment and Quality policies, regulations and standards.

Key Job Accountabilities - I

• Prepare and process SAP journal entries on behalf of cost centre owners to keep track of accruals for each project accordingly to ensure that all accruals, prepayments and advance payments in respect of the department contracts are paid and properly recorded.
• Maintain SAP cost object usage, master-data requests, review of SAP cost reports and process material journal entries to keep track of the expenditures.
• Coordinate cost related allocation principles, planning, and matrices with the cost centre owner prior to SAP processing to keep track of the costs and investigate any challenges.
• Provide cost-related planning templates, timeline, reports and analysis for review and reference.

Key Job Accountabilities - II

• Assist in developing appropriate pricing structure and estimates against each tender scope to comply with the relevant policies and procedures and ensuring retention and withholding tax matters are optimised.
• Initiate appropriate contract, purchase requisition, CWO and Service Entry documents prior to encoding in SAP to comply with business requirements.
• Assist with the preparation of the department budget, tracing and resolving any variances and coordinate budget discussions to deliver budget and forecast.
• Ensure costs are properly classified and that the Capitalization P&P is applied to keep and maintained expenditures within the approved budget and cost allocation.

Key Job Accountabilities - III

Part B: Person Specification - Minimum Requirement

Qualifications

• Bachelors degree in Accounting, Business, or Commerce.

Knowledge and/or Experience - I

• 5 years experience in a Finance department with demonstrated knowledge of financial systems.
• Familiarity with US Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).