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Experience
5 - 9 Years
Job Location
Education
MBA/PG Diploma in Business Mgmt(Finance), Chartered Financial Analyst(Finance), Chartered Accountant(Chartered Accountant)
Nationality
Any Nationality
Gender
Any
Vacancy
1 Vacancy
Job Description
Roles & Responsibilities
Project Cost Analysis and Control
- Monitor, analyze, and report on project costs for large-scale EPC projects.
- Track and control costs across Engineering, Procurement, and Construction phases, ensuring alignment with approved budgets.
- Prepare detailed variance reports and analyze deviations between budgeted and actual costs.
- Validate petty cash and non-PO-based project expenses, supplier assessments, advances to suppliers, and utilization of credit facilities.
Progress Monitoring and Reporting
- Collaborate with project teams to track progress and update percentage-of-completion (POC) calculations as per IFRS 15.
- Provide regular insights on cost performance, profit margins, and project cash flow.
Contract and Cost Compliance
- Ensure compliance with contractual terms and project-specific financial guidelines.
- Validate project costs against contract provisions and identify cost overruns or savings.
- Conduct cost allocation audits to ensure accuracy across project phases.
Inventory and Procurement Cost Management
- Work closely with procurement teams to analyze and control material and service costs.
- Ensure proper valuation of inventory used for EPC projects and implement cost-reduction strategies to minimize waste.
Risk Management and Cost Optimization
- Identify potential cost risks such as scope changes, delays, or unforeseen expenses.
- Recommend cost optimization measures through value engineering, manpower efficiency, and material utilization.
Fixed Assets Management at Project Sites
- Track, record, and monitor all fixed assets (equipment, machinery, tools) at project sites.
- Manage asset capitalization, depreciation (as per IAS 16), and ensure compliance with accounting standards.
- Conduct periodic asset audits to ensure accuracy and prevent misuse.
Financial Reporting and Forecasting
- Prepare monthly, quarterly, and annual financial and cost reports for management.
- Forecast project costs, highlight potential overruns, and support budgeting activities.
- Coordinate with the Finance Department to support company-wide financial reporting.
Desired Candidate Profile
Required Skills and Knowledge
- Accounting Standards: In-depth knowledge of IFRS (especially IFRS 15, IFRS 9, IFRS 16, and IAS 16).
- Industry Expertise: Comprehensive understanding of EPC project lifecycle, cost drivers, and financial risks.
- Software Proficiency: Hands-on experience with SAP, Oracle, or other project accounting systems.
- Analytical Skills: Strong expertise in cost analysis, budgeting, and variance reporting.
- Communication: Excellent coordination and reporting skills with multi-disciplinary teams.
Employment Type
- Full Time
Company Industry
- Oil & Gas
- Petroleum
Department / Functional Area
- Accounts
- Taxation
- Audit
- Company Secretary
Keywords
- CMA
- CA
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GAS Arabian Services Co. Ltd
GAS Arabian Services
Shafeek
8500 8, Ar Rabie Dist.,Unit No – 8500 , Dammam – 32241 – 5150, Short Address – EDJA8500 Kingdom of Saudi Arabia, Dammam/Khobar/Eastern Province, Saudi Arabia