Senior Cost and Budget Controller

Key Accountabilities

The ideal candidate is responsible to lead budgeting, cost control, and financial performance monitoring. The role ensures financial discipline, cost transparency, and effective reporting to support decision-making and compliance with corporate standards and industry regulations. Ensures financial discipline and cost visibility for all project phases.

1. Budget Management

2. Develop, consolidate, and maintain project and departmental budgets.

3. Establish baseline budgets aligned with project scope, schedule, and execution strategy.
4. Coordinate with project managers, engineers, and procurement teams to ensure accurate cost forecasting.
5. Track budget performance and highlight variances early.

2. Cost Control & Monitoring

• Monitor actual costs vs. budgeted costs for all project activities.
• Review and validate purchase orders, contracts, and invoices for budget compliance.
• Update cost reports periodically, showing commitments, expenditures, and forecasts.
• Identify and investigate cost overruns or savings and recommend corrective actions.
• Support AFE (Approved For Expenditure) preparation, expenditure tracking and reporting for CAPEX.
• Support to prepare project cost estimates and detailed cost breakdown as and when required by stakeholders.

3. Forecasting & Reporting

• Prepare monthly cost reports, including value of work done (VOWD), cash flow, and forecast-to-complete.
• Track work order/purchase order values variations, amendments, and change orders ensuring all cost impacts are accurately incorporated into project budgets.
• Monitor changes in relevant legislation, standards, and government directives and incorporate necessary updates in cost and budget forecast.
• Maintain and update Estimate at Completion (EAC) and Estimate to Complete (ETC).
• Support management decision-making with accurate cost data and analysis.
• Provide input for financial statements and management review meetings.

4. Change Management

• Assess and record cost impact of scope changes or variations.
• Support contract and project control teams in change order evaluation and approval.
• Maintain an up-to-date change log and ensure revisions are reflected in forecasts.

5. Coordination & Compliance

• Collaborate with planning, procurement, and engineering teams to align cost and schedule.
• Ensure compliance with company financial policies, procedures, and internal controls.
• Support audits and management reviews by providing cost documentation and justifications.

6. Continuous Improvement

• Contribute to cost control system improvements and reporting tools.
• Share lessons learned and best practices for future project cost optimization.

Qualifications, Skills & Knowledge

1. Degree in Engineering, Quantity Surveyor, Finance, Accounting or any related discipline.
2. Good written and spoken communication skills in English and able to work with all levels of management and multinational staff.
3. Problem-Solving: Ability to assess situations quickly and find solutions. Resourceful and creative in handling challenges that arise.
4. Proficient in Microsoft Office applications i.e. Word, Excel, PowerPoint etc.
5. 8-12 Years of Cost Control Experience in oil and gas industry (At least 5 Years in Upstream).
6. Preferrable experience in cost management methodologies, forecasting techniques and financial reporting.
7. Leadership: Ability to guide, motivate and giving direction when needed.
8. Self-Motivated: Self driven individual who takes initiative to get results and seeks opportunities for additional responsibility.
9. Strong analytical and problem-solving abilities.
10. Strong teamwork and collaboration skills, with the ability to work effectively across departments.
11. Ability to work under pressure and manage multiple priorities.