COST CONTROL SPECIALIST

Education and work experience:

Higher education (University degree or higher)  in economical, finance areas  or in the relevant speciality and not less than 2 years of work experience as Cost Control Specialist.

Main functions:

• Control and maintain records on actual expenditure related to operating activities the department and to ensure they are allocated in accordance with the approved budget;
• Collate and report all cost data to Management, highlighting reasons for variances of actual and forecasted expenditure;
• Ensure all operating costs are compiled accurately & effectively and produce on this basis internal reports which provide monthly expenditures to Department Manager;
• Ensure all reports correctly reflect the current situation, make work-in-progress inventory of work (services) performance of the sections to be included in the reports;
• Identify and inform about all variances between expenditure and budget;
• Ensure requisitions are coded correctly and anticipated costs are recorded;
• Ensure that Call-offs are tracked against their relevant contracts, ensuring cost estimates are accurately recorded;
• Participate in the approval process of invoices, ensuring they are checked for accuracy and coded correctly, approval signatures obtained and returned to Financial Controllership in a timely manner, i.e. in accordance with Contractual terms and internal timescale;
• Ensure Cost Centre Accounts and Forecasts are reported accurately;
• Maintain the proper databases for all costs;
• Ensure efficient system of storing signed documents (hard and electronic copies), control the safe keeping of all documents and correspondence within job responsibilities.

Necessary knowledge and skills:

• Legislative acts, decrees, directions, orders, other guiding, methodical and statutory materials for accounting systems, business transactions and accounting;
• Budget preparation process, its tracking and reviewing performance (execution);
• Chart and correspondence of accounts;
• Enterprise accounting systems and methods;
• Accounting documentation circulation;
• Labour legislation, labour protection rules and norms;
• Procedure of developing documents and maintenance of accounting records relating to asset transaction, material assets, and monetary assets;
• Computer literacy and familiarity with the compilation of spreadsheets and other data filing systems (SAP; MS Word, Excel, Power Point);
• Accuracy and precision;
• Cost management;
• Ability to analyse financial information.