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Cost Optimization Specialist

3 weeks ago

Kuwait City, Al Asimah beBee Careers Full time

Cost Optimization Specialist

Overview:

This position requires an experienced cost optimization specialist who can develop and implement cost savings initiatives in various sectors, particularly in the oil and gas industry. The successful candidate should have extensive experience in financial analysis and cost management.

Main Responsibilities:

  • Develop and implement cost reduction strategies and action plans in collaboration with cross-functional teams.
  • Analyze and report financial estimations of cost-saving initiatives.
  • Recommend improvements in resource allocation and cost efficiency.
  • Collect and analyze cost data, cost drivers, and financial performance indicators.
  • Design and oversee the development of IT applications to provide insights on cost trends and areas for improvement.
  • Evaluate the effectiveness of baseline and optimization efforts in balancing efficiency and compliance.
  • Conduct regular reviews and refinements of cost baseline models and cost optimization processes.
  • Promote the automation of cost baselines and provide recommendations.
  • Lead the implementation of Hydrocarbon accounting across the organization's value chain; facilitate data validation/reconciliation processes to ensure consistency and accuracy of production data.
  • Mentor colleagues to enhance their capabilities in supporting and leading Cost Optimization initiatives.

Qualifications:

  • Graduate degree in finance, engineering, or business.
  • Desirable professional certifications like Certified Cost Professional (CCP), Certified Mgmt. Accountant (CMA), Kaizen, Six Sigma.
  • Record of success in advising and supporting senior executives in oil and gas organizations on cost management and optimization.

Background:

  • At least 18 years of experience in the industry, with over 13 years in a similar role within the oil and gas sector.
  • Extensive experience in financial analysis, cost management, cost optimization, oil and gas procurement, and financial transformation.

Skills:

  • Proficient in cost optimization and financial analytics in the oil and gas sector.
  • Skilled in using cost modeling, forecasting, and reporting tools (e.g., Excel, Power BI, SAP).
  • Aware of hydrocarbon accounting and data reconciliation principles.
  • Excellent stakeholder management skills, especially at the CXO level.
  • Experience in process automation and digital dashboard implementation.
  • Strong analytical, communication, and collaboration skills.
  • Familiarity with procurement and financial transformation initiatives.
  • Working knowledge of Lean, Six Sigma, or Kaizen is desirable.

Additional Requirements:

  • Kuwaiti residency with a valid visa.