What are the responsibilities and job description for the Cost Analyst position at Panacea Direct Inc?
Job Summary:
We are seeking a Project Cost Controller to support our Central Engineering team with financial planning and cost management for large capital projects. This role is NOT an accounting position but focuses on project controls, budgeting, invoicing, cost tracking, and Oracle-based cost management tools. The selected candidate will assist in cost forecasting, financial reporting, and change management to ensure accurate financial oversight of engineering projects.Key Responsibilities:
Cost Planning, Estimating & Budgeting:
Develop Cost Breakdown Structures (CBS) aligned with Work Breakdown Structures (WBS).
Assist engineering teams in consolidating budget estimates, considering purchasing strategies, risk factors, and currency impact.
Establish a comprehensive project cost baseline and generate monthly cash-flow forecasts.
Upload and manage financial data in Michelin’s cost management tool (HIVE).( Hive is a Michelin tool it is not the HIVE that is on the market it is a purchasing tool with cost management)
Cost Monitoring & Control:
Track purchase orders throughout their lifecycle to anticipate financial changes and implement corrective actions.
Collaborate with engineering and procurement teams to manage purchase orders, invoicing, and budget adjustments.
Process approved change orders, update budget allocations, and report unapproved cost changes.
Analyze variance drivers (pricing fluctuations, scope changes, currency impact, etc.).
Update Remaining To Be Done (RTBD) estimates and cash-flow projections in HIVE.
Financial Reporting & Forecasting:
Generate monthly cost reports for engineering teams, including:
Updated cost projections with an ERP system
Cash-flow reforecasts
Change order logs
Variance analysis reports
Utilize Power BI and other reporting tools for digital financial analysis and visualization.Required Qualifications:
2-4 years of experience in Project Cost Control/Project Controls.
Strong background in budgeting, cost tracking, and invoicing for large capital projects.
Experience using Oracle-based cost management tools (e.g., Oracle Primavera, Oracle ERP, or similar).
Proficiency in Power BI for digital reporting and financial analysis.
Familiarity with cost management software.
Ability to work closely with engineering, procurement, and finance teams to manage cost-related processes.
Job Type: Contract
Pay: $30.00 - $35.00 per hour
Schedule:
- 8 hour shift
- Day shift
- Monday to Friday
Work Location: On the road
Salary : $30 - $35
