Cost Engineer

Job Title: Cost Engineer
Reporting To
Lead Cost Controller Job Purpose
Support cost control activities across major multi-year engineering projects by managing budgets, commitments, invoicing, and financial reporting. Ensure accurate cost tracking and alignment with project objectives and financial standards. Key Responsibilities
1. Budget & Cost Control

• Prepare and manage annual budgets in coordination with internal stakeholders.
• Monitor budget utilization and control availability against commitments.
• Track expenditures, identify trends, and explain variances between forecast and budget.
• Maintain cost registers for commitments, expenditures, and forecasts across all contracts and purchase orders.
• Perform detailed cost analysis and reporting.

2. Financial Systems & Reporting

• Input and manage cost data in ERP systems (e.g., SAP) including commitments, payment schedules, invoices, and timesheets.
• Coordinate with finance teams to ensure proper allocation of shared and general costs.
• Prepare monthly cost reports, including accruals aligned with project progress.

3. Invoicing & Payment Management

• Implement and manage invoicing processes across project locations.
• Review and monitor invoices to ensure timely processing and payment.
• Liaise with accounting teams to resolve invoice issues and ensure accuracy.

4. Procurement Support

• Review and validate Purchase Requisitions (PRs) and Purchase Orders (POs).
• Identify discrepancies and propose corrective actions.
• Support continuous improvement by applying lessons learned in procurement workflows.

5. Stakeholder Coordination

• Collaborate with finance, procurement, and project teams on cost-related matters.
• Act as a key interface for cost control across multiple project functions.
• Support cost transparency and promote cost-conscious practices across the organization.

6. Governance & Compliance

• Ensure compliance with HSE policies, company procedures, and industry best practices.
• Maintain confidentiality of financial and project data.
• Support internal controls, audits, and reporting requirements.

Key Deliverables

• Accurate budget planning and cost tracking
• Timely financial reporting and monthly closures
• Efficient invoicing and payment processes
• Reliable cost forecasts and variance analysis

Project Context

• Large-scale, multi-year offshore development projects including platform installations, pipelines, and infrastructure upgrades
• Multiple projects executed simultaneously across international locations
• High-value CAPEX program (multi-billion USD investment)

Qualifications & Experience

• Degree in Finance, Economics, Business Administration, Engineering, or related field
• Minimum 6 years of experience in cost control, preferably in Oil & Gas or large EPC projects
• Strong knowledge of:
  • SAP or similar ERP systems
  • Excel, Power BI, and reporting tools
• Experience in budgeting, forecasting, and financial analysis
• Good analytical and problem-solving skills
• Strong communication and stakeholder management abilities
• Fluent in English

Core Competencies

• Stakeholder collaboration and communication
• Analytical thinking and attention to detail
• Adaptability in complex project environments
• Accountability and continuous improvement mindset
• Ability to work in multicultural and cross-functional teams

With over 90 years' combined experience, NES Fircroft (NES) is proud to be the world's leading engineering staffing provider spanning the Oil & Gas, Power & Renewables, Chemicals, Construction & Infrastructure, Life Sciences, Mining and Manufacturing sectors worldwide. With more than 80 offices in 45 countries, we are able to provide our clients with the engineering and technical expertise they need, wherever and whenever it is needed. We offer contractors far more than a traditional recruitment service, supporting with everything from securing visas and work permits, to providing market-leading benefits packages and accommodation, ensuring they are safely and compliantly able to support our clients.