Cost Analyst
Permanent - Full TimeJob Overview
We are looking for a highly analytical and driven Cost Analyst to join our team. In this role, you will analyse, forecast and manage the costs associated with engineering projects and activities, ensuring maximum cost efficiency without compromising quality or performance. Working closely with Engineering, Finance, Procurement and Operations, you will provide financial insight that supports strategic decision-making.
Key Responsibilities
- Partner with the Engineering department on all costing activities.
- Conduct detailed cost analysis of engineering projects, identifying key cost drivers and opportunities for cost reduction.
- Develop and manage project budgets, ensuring alignment with wider financial objectives.
- Produce and maintain cost forecasts, providing accurate and timely information to support decision-making.
- Collaborate with engineering teams to identify and implement process improvements and cost-saving initiatives.
- Provide cost engineering support for new product development, from concept through to implementation.
- Work cross-functionally with procurement, finance, engineering and manufacturing teams to ensure integrated cost management.
- Generate regular cost reports, presenting insights and recommendations to management.
- Identify cost-related risks and develop mitigation strategies to maintain financial control.
- Manage and monitor KPI matrices for cost targets, challenging stakeholders to meet budget and reduction commitments.
- Chair, attend and actively participate in meetings as required.
- Work professionally and proactively in line with company processes and reporting structures.
- Support additional duties aligned with the role as reasonably required.
Skills, Knowledge and Expertise
- Experience in Formula One, high-level motorsport, or a similar high-performance engineering environment is desirable.
- Strong understanding of cost engineering processes and tools.
- Good working knowledge of engineering principles, processes and methodologies, with the ability to translate technical information into meaningful financial insight.
- Excellent analytical skills and attention to detail, with the ability to identify trends and forecast costs.
- Ability to interpret engineering drawings and translate them into financial data.
- Strong time management and organisational skills, with the ability to manage multiple priorities.
- Proactive, hands-on approach with high professional standards and accuracy.
- Strong communication skills, with the ability to present complex information clearly to stakeholders.
- Advanced proficiency in Microsoft Excel and Power BI.
- Experience with ERP systems is advantageous