Senior Cost Controls Specialist

McDermott•Houston, TX

About The Position

The Senior Cost Controls Specialist uses best practices and knowledge of internal and external cost control processes to support the successful delivery of large-scale, complex EPC projects. The role is responsible for implementing and maintaining cost control systems, preparing accurate forecasts and reports, analyzing project performance, and supporting change management activities. It collaborates closely with Project Management, Finance, Procurement, Construction, and other project stakeholders to ensure effective cost monitoring and reporting throughout the project lifecycle.

Requirements

Bachelor's degree in Engineering, Construction Management, Finance, Business, Accounting, or a related discipline.
Typically 7+ years of experience in cost control, project controls, project accounting, or related disciplines supporting large-scale, complex EPC projects.
Good understanding of cost management, forecasting, budgeting, change management, and project controls principles.
Ability to understand project scope, schedule, cost, progress, and their interrelationships.
Strong analytical, problem-solving, and coordination skills.
Ability to manage multiple priorities and meet deadlines in a fast-paced project environment.
Demonstrated effectiveness working within multidisciplinary project teams.
Good working knowledge of estimating, scheduling, accounting, procurement, and commercial interfaces.
Proficiency in Microsoft Office applications, particularly Excel.

Nice To Haves

Experience with ERP systems such as JD Edwards is preferred.
Experience with project controls and cost management software is an advantage.

Responsibilities

Understand constructability concepts, project execution workflows, and interdependencies between Engineering, Procurement, Fabrication, Construction, and Commissioning activities.
Understand and apply contractual requirements and support implementation through the Project Controls Execution Plan.
Set up and maintain project cost control systems, tools, and reporting processes.
Support the development and maintenance of project budgets, control budgets, and cost baselines.
Prepare and maintain periodic cost reports, cost forecasts, variance analyses, trend reports, and management summaries.
Analyze actual, committed, and forecast costs and identify potential risks, opportunities, and performance concerns.
Prepare and maintain monthly project forecasts and Estimate at Completion (EAC) assessments.
Analyze cost performance and productivity metrics and recommend corrective actions when necessary.
Support earned value analysis and performance measurement activities.
Set up and maintain progress measurement systems to support forecasting and cost performance reporting.
Monitor scope changes, trends, and variations and assess associated cost and schedule impacts.
Support change management activities, including preparing cost estimates, evaluating change requests, and implementing approved contract amendments.
Assist in proposal development, project kickoff activities, and commercial review processes.
Support Finance in preparing project cash flow forecasts, accruals, cost spreads, and financial reporting requirements.
Support Subcontract Management in validating subcontractor progress, earned value, and invoice applications.
Ensure cost coding structures are properly implemented and consistently applied across the project.
Ensure compliance with McDermott project controls procedures, systems, and reporting requirements.
Recommend solutions and recovery plans for identified cost or performance issues.
Provide guidance and knowledge sharing to junior Cost Controls Specialists.
Perform other related duties as assigned.