Cost Controller

Job Title: Cost Controller.

Department: Finance.

Location: Lagos.

Directly Reports: AGM - Finance

JOB SUMMARY

This role is a critical financial stewardship position responsible for the end-to-end cost control and financial management of the Joint Venture's (JV) Operations & Maintenance (O&M) business activities. The incumbent provides strategic cost analysis, ensures robust budgetary control, and maximizes profitability through rigorous forecasting and cost optimization.

The role demands an expert who can navigate the complexities of the Nigerian E&P landscape, effectively manage JV partner relationships, and provide insightful financial analysis to guide executive decision-making.

KEY ACCOUNTABILITIES

Cost Planning & Strategy

1. Estimation & Budgeting: Develop comprehensive cost estimates for company activities by meticulously analyzing technical data, blueprints, and other documentation. Prepare detailed estimates for management planning, work scheduling, and vendor selection.


2. Benchmarking & Optimisation: Critically assess budgets and cost projections, using internal and external benchmarking data (in line with NUPRC requirements) to challenge assumptions and identify value-optimization opportunities for CAPEX and OPEX .


3. Market Intelligence: Remain acutely aware of market trends (e.g., fluctuations in steel prices, logistics costs) that could impact resource costs, and adjust forecasts proactively .


4. Life Cycle Costing: Apply life-cycle costing principles to understand the total cost of ownership for assets, supporting strategic decisions on maintenance and asset life extension

Project & Operational Controls

1. Work Breakdown Structure: Lead the development and maintenance of a robust Work Breakdown Structure (WBS) / Cost Breakdown Structure (CBS) to ensure accurate cost tracking and reporting .


2. Expenditure Monitoring: Control and monitor total project expenditure by verifying and checking invoices and claims from suppliers, vendors, and subcontractors to ensure accuracy and compliance with contractual terms.


3. Variance Analysis: Perform detailed variance analyses to identify root causes of cost deviations and implement corrective actions .


4. Management Reporting: Deliver comprehensive monthly costing reports to the team and management, including trends, budget variance analysis, commitment/expenditure figures, and Forecast at Completion (FAC), ensuring expenditures are kept within budget .


5. Compliance & SOX: Ensure all cost control activities are SOX compliant and adhere to internal financial controls.

Joint Venture & Regulatory Governance

1. JV Financial Management: Manage the end-to-end JV financial cycle, including preparing and processing cash calls for JV partners (e.g., NAPIMS) and ensuring accurate cost recovery and reconciliation .


2. Regulatory Compliance: Ensure full compliance with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) requirements for cost reporting and benchmarking during field development plan (FDP) and project execution phases .


3. Audit & Documentation: Liaise with internal and external auditors to justify costs and prepare necessary cost recovery documentation. Maintain a comprehensive and organized cost database for future estimation and audit purposes .


4. Partner Interface: Act as the primary financial interface with JV partners, providing them with accurate data for incorporation into corporate financial documents and for working capital reporting .

Stakeholder Management & Advisory

1. Cross-Functional Collaboration: Actively participate in project meetings and discussions with the Project Team, Engineers, Contract & Procurement, and Stakeholders to provide expert cost guidance and challenge operational assumptions .


2. Vendor & Contract Management: Analyze invoices to ensure correct products/services were received at the expected cost. Work with the Contracts team to evaluate the cost impact of contract variations and change orders .


3. Strategic Advisory: Provide proactive, critical assessments of all budgets and cost projections. Present complex financial information clearly and concisely to senior management to support strategic decision-making .


4. Promote Cost Consciousness: Champion a culture of cost consciousness and financial discipline across the project and operational teams.

Additional Duties

1. Undertake any other ad-hoc duties as required by the line manager.

QUALIFICATIONS & EXPERIENCE

• Education: A University Degree –in Engineering, Project Management, Finance, Accounting, or a related quantitative field. A professional certification (e.g., ACA, ACCA, CIMA) or a certification in Project Management/Cost Engineering (e.g., PMI-SP, AACE) is highly desirable.


• Experience: Minimum of 8 years' experience in a similar cost engineering or cost control role, with at least 5 years of experience in the Oil and Gas E&P sector in Nigeria and notable industry contractors .


• Technical & Industry Knowledge:
  
  
  
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    • Deep understanding of the Nigerian Upstream Oil & Gas industry, specifically the financial and operational mechanics of Joint Ventures (JVs) and Production Sharing Contracts (PSCs).
    
    
    • Extensive experience in cost estimating, forecasting, variance analysis, and project controls.
    
    
    • Proficiency in major ERP systems, such as SAP or Oracle .
    
    
    
    
  
  
  
  


• Behavioural & Leadership Skills:
  
  
  
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    • High Level of Commercial Acumen: Demonstrated ability to understand the "why" behind the numbers and make sound commercial recommendations.
    
    
    • Expert Communication: Excellent written and verbal communication skills, with the confidence and ability to present complex financial information effectively to senior stakeholders and JV partners.
    
    
    • Proactive & Performance-Driven: A self-starter who not only analyzes data but also actively seeks out inefficiencies and implements solutions to drive cost reductions.
    
    
    • Stakeholder Management: Proven ability to build strong relationships and effectively manage interfaces with engineering, operations, procurement, finance, and external partners.