Job Information
McDermott Associate Cost Controls Specialist in Kuala Lumpur, Malaysia
Job Overview:
We are looking for a motivated and detail-oriented Associate Cost Control Specialist to join our project team. This entry-level role is an excellent opportunity for a recent graduate with a keen interest in project cost management and financial tracking. The successful candidate will support project cost tracking and reporting, working closely with project team and senior cost control staff to ensure our projects meet budget targets.
Key Tasks and Responsibilities:
Cost Tracking Support: Assist in tracking project costs, including subcontracts, labor, and equipment, to support accurate cost monitoring throughout project phases
Data Collection and Reporting: Help prepare cost reports and status updates, gathering data and assisting in the analysis of project cost performance
Invoice Review: Assist in reviewing invoices to confirm they align with purchase orders and contracts, ensuring financial accuracy
Documentation: Maintain organized records of project costs and financial transactions, supporting efficient data retrieval and reporting
Team Collaboration: Work with project teams, finance, engineering, and procurement teams to assist with cost control activities across different project phases
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 & Education:
Bachelor’s degree in Finance, Accounting, Engineering, Quantity Surveyor, Construction Management, or a related field
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
Preferred Qualifications and Education:
Basic understanding of cost control principles or project budgeting is a plus
Familiarity with financial or project management software (e.g., SAP, Oracle, Primavera) is beneficial
Internship or project-based experience in finance, accounting, or project controls is preferred
Proficiency in Microsoft Excel and familiarity with financial analysis tools
Strong analytical and problem-solving skills
Excellent organizational skills and attention to detail
Effective communication skills and the ability to work in a team environment
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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