Date Created: 2018-10-10T12:55:26+00:00
Reference Number: 251 1010 MHU
Reference Number: 251 1010 MHU
Our client is a top international engineering company who offer industrial solutions to numerous different industries. The successful incumbent will have to perform the commercial cost controlling activities on projects, including the planning, controlling and reporting of project costs, contract values and project results; the analysis, compilation and clarification of project budgets and costs to complete and the completion of commercial change and claim management activities, taking ownership for how the projects are reported and accounted for in SAP. This role reports directly in to the HOD Commercial Project Management.
- Together with the PM and in close alignment with project disciplines, define a suitable project WBS structure in line with the requirements of IFRS and assign realistic budgets to it
- Set-up all commercial project tools, planning and reporting tools in accordance with global and local requirements
- Continuous evaluation and follow up of project budgets together with responsible persons
- Challenge budget updates requested by disciplines in order to safeguard and improve project profitability
- Responsible for invoicing to the customer according to contractual milestones
- Responsible for the collection of the said invoices invoiced to customers within the agreed payment terms
- Optimise cash in and outflow by being aware of all payment-relevant milestones and encouraging the project team to manage such milestones timeously to improve the project’s cash situation
- Manage the updating of cost reports, identify any anomalies and discrepancies, highlight cost concerns and assist with corrective action
- Manage the receivables portfolio and interface with customers to ensure on time collection of debts
- Handle all foreign exchange matters pertaining to contracts including making necessary applications, remittances and interface with company’s bankers
- Provide the required input and support for project claim management on projects where a CPM is allocated
- Responsible for project commercial management and claims management on smaller projects where a CPM is not allocated
- Verify invoices and ensure correct allocations on these invoices
- Issue early warning / notification of compensation event (CE)/variation order (VO) as soon as a new event is identified
- Liaise with CPM / Legal as required to ensure adherence to contractual notification and claim requirements
- Compile quotation/claim for cost with input from all disciplines and issue to the Client
- Participate in CE/VO discussions with the Client and incorporate any changes
- Once approved, update the various systems to incorporate the approved change.
- Monitor constantly the risks during execution of contract and pro-actively initiate risk mitigation measures
- Consciously build synergies with other departments and disciplines towards achievement of company’s goals
- Prepare ad-hoc reports, presentations and provide the required input and feedback
Requirements: Qualification and Skill
- Bachelor’s degree in commercial, accounting or financial management or equivalent
- Additional relevant commercial or financial courses
- At least 7 year’s relevant experience in the controlling, finance or commercial fields of the engineering, industrial, mining and/or construction industries
- Strong experience in project cost controlling, reporting and reviews; cash flow projections and financial analysis of projects
- Proficient in standard business office software
- Intermediate legal knowledge to know when issues need to be escalated and when advice is to be sought
- Core competencies: Financial Systems, Processes, Tools and Technology (especially SAP); Financial Budgeting, Planning and Reporting; Cash Management; Cost Accounting.
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