What are the responsibilities and job description for the Associate Cost Controls Specialist position at McDermott?
Job Overview:
The Associate Cost Controls Specialist is responsible for utilizing existing Costing procedures to solve routine or standard problems. They receive instruction, guidance, and direction from others within the team, and they will leverage their conceptual knowledge of theories, practices, and procedures related to Costing and Project Controls.
Key Tasks and Responsibilities:
Under Direct Supervision
- Provide essential administrative and support functions to the cost controls team within the EPCI (Engineering, Procurement, Construction, and Installation) industry
- Assist in the implementation and execution of administrative processes and procedures to facilitate efficient cost controls operations, including budgeting, forecasting, and cost tracking
- Collaborate with project teams and stakeholders to gather and organize project cost data, ensuring accuracy and completeness in data entry and documentation
- Support the preparation of detailed weekly and monthly cost and progress reports to Management and to the client These reports must accurately reflect all aspects of performance including Cost and Schedule
- Conduct basic cost analyses, such as cost trending and variance analysis, to identify discrepancies and assist in cost-saving initiatives
- Have knowledge of contractual obligations such as contract type, change management, invoicing processes, reporting, and interfaces
- Assist in the implementation and maintenance of the cost control system, ensuring accurate and up-to-date data for cost reporting and analysis
- Support the cost controls team in routine administrative tasks, contributing to process improvement initiatives and fostering a collaborative work environment
- Assist in forecast development, such as updating staffing and equipment plans, procurement reports, subcontract reports, and performance analysis
- Assist with change order preparation and processing
- Analyze committed cost and activity to date, actual vs. budget, performance, and productivity
- Assist in the development and maintenance of the project's cash flow
Essential Qualifications and Education:
- Bachelor’s degree in Business, Finance, Engineering, Constructions Management, or related fields or
- 0 to 4 years of experience in a similar role or combination of technical training or construction experience that can be transferred to this role
- Ability to work effectively as part of a team to ensure business goals
- High level of coordination skills to gather cost data from project leaders, finance, and accounts department
- Demonstrated effectiveness in prioritizing multiple tasks, monitoring progress, and managing efforts to meet deadlines
- Demonstrated effectiveness in working with others in a multifunctional team
- Good knowledge of MS Office
- Problem-solving attitude
- Attention to detail and accuracy in data entry, documentation, and report preparation
- Effective communication and interpersonal skills to collaborate with project teams, stakeholders, and other administrative functions
- Proactive and eager to learn, with a willingness to take on new responsibilities and contribute to team goals
- Familiarity with relevant industry regulations, standards, and basic contract management principles
- Ability to maintain confidentiality and handle sensitive information with professionalism and discretion
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