Job purpose:
The Cost Control Professional is responsible for implementing and overseeing cost control measures within the organization to ensure optimal financial performance and efficiency. The primary purpose of the role is to analyze and monitor costs, identify areas for cost reduction or optimization, and implement strategies to achieve financial goals while maintaining quality standards. The Cost Control Professional plays a vital role in helping the organization manage its expenses, improve profitability, and make informed financial decisions.
Job role description:
- Cost Analysis and Monitoring: Conduct thorough analysis of financial data and cost reports to identify trends, patterns, and areas of potential cost savings or overspending. Monitor costs across different departments and projects to ensure they align with the budgetary guidelines.
- Budget Management: Collaborate with relevant stakeholders to develop and manage operational budgets. Monitor budget performance, provide regular updates, and propose adjustments or corrective actions as necessary.
- Cost Optimization: Identify opportunities to optimize costs without compromising quality or operational effectiveness. Evaluate processes, procedures, and supplier contracts to minimize expenses and negotiate favorable pricing terms.
- Financial Reporting of operations: Prepare accurate and timely financial reports, including cost variance analysis, budget utilization reports, and cost-saving initiatives. Present findings and recommendations in operational areas to management for informed decision-making.
- Cost Control Strategies: Develop and implement effective cost control strategies, policies, and procedures that align with the organization's financial objectives. Ensure compliance with internal controls and industry regulations.
- Vendor and Supplier Management: Collaborate with procurement teams to manage relationships with vendors and suppliers. Negotiate contracts, terms, and pricing to obtain the best value for the organization while maintaining quality standards.
- Cross-Functional Collaboration: Work closely with feeder operations, 3rd party feeder procurement , and other T/S and terminal contracts to gather cost-related data, provide guidance, and ensure alignment in operational cost control efforts.
- Continuous Improvement: Stay updated on industry trends, best practices, and emerging technologies related to cost control. Identify areas for process improvement and suggest changes to enhance efficiency and effectiveness.
- Compliance and Risk Management: Ensure compliance with financial regulations, internal policies, and control procedures related to cost management. Identify and mitigate financial risks associated with cost control processes.
- Training and Awareness: Conduct training sessions and workshops to enhance financial awareness and accountability among employees. Promote a cost-conscious culture within the organization when required.
Key interactions (Internal | External):
External: Customers | Vendors | Customers | Agencies
Internal: Finance | HR & Admin | Operations | Commercial | Sales Marketing, Commercial, Leadership
Education requirements
Graduate
Background and experience:
- Minimum 3 years experience in cost control, financial analysis, budgeting, or a related role is highly beneficial. This experience helps candidates understand financial processes, cost structures, and budgeting practices.
Competencies and skills:
- Experience working in industries with a focus on cost control, such as manufacturing, construction, or hospitality, is advantageous. It provides familiarity with industry-specific cost management challenges and practices.
How to apply
Please fill out the application form below and share your cover letter and CV.
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