Cost & Budget Lead

Overview and Responsibilities

The Cost & Budget Lead will be instrumental in developing and supporting the TEPNG Project Management System and enhancing cost management processes across projects. This role requires close collaboration with various teams to ensure accurate cost tracking, reporting, and budget management in alignment with corporate standards.

Key Responsibilities

• Develop and maintain the TEPNG Project Management System, supporting Capex, budgeting, cost estimation, cost control, invoice and payment tracking, and cash call monitoring while adhering to standardized templates and corporate guidelines.
• Assist in the annual budget updates and project CAPEX follow-up, simplifying procedures and clarifying responsibilities between projects and other organizational units.
• Recommend and implement standardized cost reporting cutoffs and streamline consolidation of financial reports to optimize reporting processes.
• Lead cost reporting teams to consolidate project reports aligned with budgeting and scheduling activities to ensure timely payments.
• Oversee implementation of cost control frameworks, procedures, and SAP tools such as UNISUP and U-Cost.
• Ensure invoice approvals comply with contracts, project and company procedures, as well as Sarbanes & Oxley (SOX) and delegation of authority workflows.
• Identify portfolio-level risks, such as overruns and contingencies, and develop mitigation plans.
• Support the UNISUP system management regarding payment schedules, invoicing, and cost control issues.
• Coordinate closely with Project Control & Package Managers and the finance department for support on payments and accounting insights to drive process improvements.
• Lead cost control efforts in budget preparation, consolidation, and review for various projects with contributions from team members, delivering economic analysis as needed.
• Assist in assessing contract variations’ costs, monitor project cost trends, update final cost estimates, and prepare monthly cost reports with narrative comments.
• Prepare and distribute project cost information to subsidiaries, partners, shareholders, concessionaires, and the company.
• Provide shared services and expert resources in cost control, estimating, and payment processes for projects.
• Capture and share lessons learned from Nigerian projects to enhance cost control practices and foster collaboration with local contractors for continuous improvement.

Qualifications

• A minimum of a bachelor's degree or equivalent qualification in Accounting or a related discipline.
• At least 15 years of professional experience in the oil and gas industry, including a minimum of 5 years in a similar capacity as a Cost & Budget Lead.