- Vacancy information
At Subsea 7, we take pride in being recognised globally as a leader across the Energy Industry. For 5 decades our people have delivered over 1,000 projects in all water depths across our energy hubs and we continue to do so, adapting and evolving in an ever-changing world.
Our sustainability and ongoing success are only possible through innovation, collaboration and the development and diversity of our people, assets, and technology. By joining Subsea 7, you become part of a team of people who everyday ‘Make Incredible Things Happen
OVERVIEW OF ROLE
The Lead Cost Controller ensures accurate, timely and value added analysis and reporting on a project or projects. The discipline contributes to the effective running of projects and comprises responsibility for, but not limited to cost performance status reporting.
The role ensures the provision of all cost control on the project including budget set up, updates and monitoring, change management, variation estimating, cost reporting, risk contingency and management as well as all forecasting activities. The role reports functionally to Cost Control Manager and directly to Project Control Manager on a specific project.
Key Responsibilities & Activities
- Contribute to creating a positive HSEQ culture across Subsea 7
- Continually strive to improve the Cost Control process and procedures, systems and best practice
- Ensure the use of standard, appropriate templates for financial, performance and customer reporting
- Ensure awareness of and adhesion to the Group procedures
- Ensure proactive methods in sharing knowledge and experience, raising areas of difficulty and concern and assisting in improving routines
- Support project cost controllers development by reviewing & explaining specific cost control process and requirement of the budgets they follow
- Develop a common understanding of the Tender budget through a review and analysis process with the relevant estimator and project team members
- Ensure the transfer of the Tender budget to the cost management system to form the basis of future monitoring and control
- Prepare and establish the Cost Breakdown Structure, and Budget Elements which describe the full structure to be used in the Cost Control System and that align into the Work Breakdown Structure, taking into consideration the interface with the Project Planning Function, where applicable
- Ensure full coherence and utilisation of cost control systems for budgeting purposes and report key performance indicators throughout the project
- Ensure analysis and understanding of the project contract and scope
- Support the Change Management process implemented by being pro-active in early identification of deviations and corrective actions
- Participate on estimate of Variations Orders, prepare supporting data and documentation and implement validated VO budgets into the Cost Management System
- Establish and communicate processes and routines required for effective control and reporting during the project lifecycle to team members with consideration of financial and other compliance legislation
- Ensure constant monitoring of progress of work by reviewing necessary supporting material (planning and reports) and information
- Ensure in-depth analysis and reporting of variances on a periodic basis
- Ensure all costs are allocated to the right destinations (departments, contracting entities).
- Interface with budget owners on a regular basis to review commitments and challenge their forecasts
- Oversee the timely coding, collection, analysis and reporting of all project expenditure, together with the budget holder(s)
- Calculate and plan Estimate To Complete (ETC)
- Supervise and monitor the activities of the project cost control team
- Ensure Ecosys fully adopted by project and region
- Prepare the Project Monthly Status Report in association with the Package Manager and Project service manager.
- Responsible for the reconciliation of forecasted and actual expenditures and the production of project accruals
- Continuously interface with the Project Financial Control department to provide accurate cash flow forecasts and profit release as well as obtain the actual cost expenditures
- Review audit reports and other audit information as required by internal & external audit teams
- Review Close Out Documentation both internally and externally relevant to the function
- Attend regular functional meetings and workshops within the Project Controls team
- Operate within the Business Code of Conduct
- Support standards and procedures for the cost control function.
- Operate according to Subsea 7’s Management Principles
- Operate within legal frameworks and budgets
Preferred Experience and Education
- Demonstrable experience of delivering Cost Control and various types and size of project.
- Relevant previous experience at an appropriate level in the subsea or offshore environment
- Experience of establishing and leading Cost Control on projects
- Technical knowledge and application of Cost Control and associated systems
- Strong communication
- People development
- Cultural awareness and sensitivity
- Understanding of the Offshore Oil and Gas industry
- Understanding of Subsea 7 business model
Subsea 7 are committed to creating a diverse workforce, offering excellent career opportunities, as well as providing a wide range of benefits and a flexible working environment.
To apply for this job please visit careers.subsea7.com.