Senior Cost Control Officer

Job Summary

The Senior Cost Control Officer works collaboratively with various department managers to analyze costs, assess vendor relationships, and maximize profitability.  Responsible to control and monitor project total expenditure including verifying and checking of invoices and claims from suppliers, vendors and subcontractors to ensure that all project expenditures are captured and properly recorded

Job Responsibilities 1

Principal Accountabilities

1. Provide planning and cost controlling support for all projects which includes variation reporting, monitoring of milestone progress to the preparation of customer billing processes, etc.

• Perform and manage project activity scheduling and monitoring Develop and maintain program and project cost reports and cost tracking
• Develop and audit cost forecasts variances, as needed

Job Responsibilities 2

1. Works with all relevant project personnel to ensure that cost control procedures are in place.

2. Assists is setting up project(s) with Computerized Cost System upon agreed format.

3. Assisting the project manager in identifying and gaining approval of estimates/change requests.

4. Reviewing cost commitment and expenditure information for all cost elements, for input to the computerized cost control and reporting system on a consistent basis and ensuring that all information received is accurate and correctly input.

5. Prepares regular cost reports and advising management of any forecast cost overruns as soon as possible to allow corrective actions to be taken in a timely manner.

• Highlighting cost areas of concern and suggesting areas of improvement.
• Maintaining comprehensive accessible registers of financial approvals, variations and change orders.
• Liaising with the finance department with regards to establishing monthly evaluation of work done, goods received and services rendered for invoice preparation and verification

6. Procurement, Suppliers, Invoicing and Payments

• Ensures that all cost related work is in compliance with procurement contract(s).
• Prepares & Process payment request receive from Procurement.
• Reviews invoices to ensure that all the information appearing on them is accurate and complete
• Ensures the 3 way match of payment (PO, SRV/ Delivery note and Invoice)
• Update & provides Payment Tracking Reports.
• Coordinates with supplier for ensuring the availability of statement of account before processing payments.
• Prepares reconciliation of Supplier Account; reconcile vendor statements with our own balances and make corrections of discrepancies, if any and accordingly.
• Coordinates for timely resolution for any dispute