Director of Cost Management

ARCO/Murray National Construction•Downers Grove, IL

11d•$175,000 - $225,000

About The Position

The Director of Cost Management will lead ARCO’s cost management function and oversee cost management practices across complex construction projects. This role establishes the team’s operating model, processes, procedures, reporting standards, and performance expectations while building and developing a high-performing team of cost managers. Working closely with Project Management, Preconstruction, Operations, Finance, and executive leadership, the Director promotes consistent project budgets, forecasts, cost reporting, change management, and risk controls. The role translates financial and project data into practical guidance that improves project and business outcomes, and supports the growth and evolution of the cost management function.

Requirements

Bachelor’s degree in Construction Management, Engineering, Accounting, Finance, Business, or a related field; equivalent experience may be considered.
10 to 14 years of experience in construction cost management, cost control, project controls, project accounting, commercial management, or a related function.
Demonstrated experience leading, coaching, and developing a team of cost managers or comparable construction finance or project controls professionals.
Experience establishing or scaling a cost management team, including developing its processes, procedures, standards, and reporting practices.
Experience with Procore.
Experience with general contracting, design-build, EPC, infrastructure, industrial, data center, or other complex construction projects.
Strong understanding of construction budgets, forecasting, subcontractor costs, change management, commitments, accruals, and project financial reporting.
Ability to interpret construction contracts, drawings, specifications, schedules, and cost information.
Advanced Excel skills and experience with construction ERP, project-management, or cost-control systems.
Strong communication, analytical, organizational, and relationship-building skills, with the ability to influence across project teams and business functions.
Ability to manage competing priorities, exercise sound judgment, and drive consistent execution across multiple projects.

Responsibilities

Establish and continuously improve cost management standards, procedures, tools, and reporting practices across the project lifecycle.
Build and maintain the operating framework for the cost management team, including roles, workflows, review cadence, escalation paths, and quality controls.
Develop consistent approaches to budgets, cost codes, work breakdown structures, commitments, accruals, forecasts, cost-to-complete analysis, and estimates at completion.
Align cost management practices with project controls, preconstruction, accounting, procurement, and operational needs.
Evaluate systems, data, and processes; identify gaps and lead improvements that increase accuracy, consistency, and usability.
Promote strong documentation, internal controls, and timely, reliable project financial information.
Lead, coach, and develop a team of cost managers supporting projects and business units.
Set team goals and performance expectations, create professional development plans, provide regular feedback, and support career growth.
Allocate team resources across projects, balance workloads, and adjust coverage to meet business priorities.
Foster a collaborative team culture focused on accountability, continuous improvement, and partnership with project teams.
Recruit and onboard cost management talent and develop knowledge-sharing and training practices.
Serve as a senior advisor and escalation point for cost managers and project leadership on complex cost issues.
Oversee project budgets, commitments, actual costs, accruals, cash-flow projections, forecasts, and estimates at completion.
Review project financial performance, budget-to-actual variances, cost trends, exposures, and profitability; identify risks and opportunities early.
Partner with project leaders to develop mitigation plans and support informed decisions on cost, scope, procurement, and execution.
Review cost reports and forecasts for completeness, consistency, and accuracy, ensuring updates reflect current project conditions.
Coordinate cost information with schedules, project progress, procurement, and change activity.
Prepare and present portfolio-level dashboards, financial summaries, and executive updates on performance, risks, and required decisions.
Establish consistent practices for tracking potential and approved changes, including scope, pricing, schedule, and risk impacts.
Oversee processes for incorporating approved changes into project budgets, forecasts, commitments, and cost reports.
Guide subcontractor payment applications, invoices, commitments, and supporting documentation in coordination with Project Management and Finance.
Support subcontract buyout, contract administration, claims documentation, and change-order negotiations as needed.
Promote timely resolution of billing discrepancies and clear, accurate project records throughout the project lifecycle.
Partner with Project Managers, Superintendents, Preconstruction, Finance, subcontractors, vendors, and clients to strengthen cost visibility and project outcomes.
Communicate cost performance, risks, assumptions, and recommendations clearly to project teams and executive leadership.
Develop and deliver training, guidance, and tools that help project teams use cost information consistently and effectively.
Monitor team and project performance, identify recurring issues, and lead improvements to processes, reporting, and controls.

Benefits

Industry-leading performance-based bonus program
Employee Stock Ownership Plan (ESOP)
Traditional and Roth 401k
Tuition reimbursement for associates
Scholarship for associates’ children up to $28,000 per child
One-month paid sabbatical after every five years of employment, plus $5,000 for travel
One-week paid volunteer leave each year
100% charitable match
Medical, dental, and vision insurance coverage
Paid parental leave