Cost Assurance Auditor - London

About the role

Our projects are more than just your opportunity to make your mark. They’re an opportunity to stretch, test and develop your expertise!

Balfour Beatty has an opportunity to join the Finance team as a Cost Assurance Auditor at Old Oak Common Station project, working on NEC Contracts assuring the costs, financial performance, and communication of issues in a consistent manner.

The individual will conduct cost assurance reviews, advise on treatments, communicate to the business, and track cost assurance and compliance. They will support the delivery of finance audits from all aspects, internal, client, external and help refine the cost assurance strategy.

What you'll be doing

As a Cost Assurance Auditor you will have the following accountabilities:

• Support in compiling the Audit Scope, arranging initial meetings with Subcontractors and Commercial team to approve scope and timetable of audit.
• Requesting information, based on the Audit Scope, including Purchase Orders, Invoices, proof of payments and any other additional information required from Subcontractors to facilitate the audits and ensure adherence to the contract. Follow-up as required with outstanding/delayed information.
• Analysing large volumes of data, verifying the costs in line with the schedule of cost components aligned to the NEC contract, highlighting any discrepancies or potential disallowed elements/values. Demonstrate a full understanding of the contract, including the schedule of cost components and able to understand and assess risks associated with it. Support the Cost Verification Manager to implement controls and validate these to assist in the cost assurance control environment.
• Conducting cost verification deep dives and internal audits across all work packages and providing recommendations to mitigate disallowed risks. Support the Cost Verification Manager in the issuing of findings and recommendations for improvements across all packages and follow up thereof.
• Visiting external Subcontractor offices to audit Staff and Labour, understanding what is included in the payroll reports and auditing against the Schedule of Cost Components. Sample testing on CVs, qualifications, rights to work and time-sheets.
• Reviewing the Company policies for Modern Slavery, Anti-Bribery and expenses to ensure that they are being adhered to.
• Provide necessary support to Commercial counterpart(s) working on individual work packages ensuring knowledge share and control of financial information in line with the contract.
• Produce comprehensive reports detailing all audit findings and recommendations including disallowed cost risk
• Regular contact with HS2 auditors to manage findings back to Cost Verification Manager.
• Be proactive in identifying weak audit areas and leading indicators of potential issues on the project.
• Support the Cost Verification Manager in the definition and implementation of a financial control environment, processes, tools and techniques to deliver effective and efficient cost assurance in accordance with the BBVS procedures to prevent disallowed cost and with Parents companies reporting policies.

Who we're looking for

The following skills and experience are required:

• Strong analytical skills, with demonstrated ability to create quality, well-organised financial analysis from multiple data sources. Attention to detail and accuracy required.
• Previous experience of conducting cost assurance audits, thorough knowledge of audit procedures, including planning.
• Strong communication, numerical and presentation skills including the ability to deliver reports orally and written in an objective and persuasive manner, demonstrating initiative and resilience when challenged.
• Proactive, problem-solving individual who takes full ownership and accountability of their work.
• Confidence to work closely with the Commercial team and building good working relationships with external Subcontractors.
• Experience of contract reviews, commercial proposals, business cases.
• Act as a strong advocate for best practice, able to support and defend practical deployment and solutions, whilst remaining open to the ideas of others.
• The role may require some travel but will be predominantly based at Old Oak House.

Why work for us

Day in, day out, our teams deliver some of the UK’s most ambitious, exciting and meaningful projects; developing, building and maintaining the vital infrastructure that supports national economies and strengthens communities.

Why join us?

As if contributing to and supporting work that makes life better for millions wasn’t rewarding enough, we offer a full range of benefits too. You’ll have the freedom to shape the package that’s right for you and your life. Here are some of our key benefits:

• Smart working, giving you more flexibility such as staggered start and finish times, with up to 40% remote working, where roles allow.
• 25 days paid annual leave (pro rata)
• Family friendly policies which include 28 weeks full pay for maternity/adoption leave and four weeks full pay for paternity/partners leave
• Pension, share incentive plan, volunteering leave, recognition schemes and much more…

About us

Balfour Beatty’s Major Projects business is delivering some of the UK’s most complex and iconic infrastructure projects including HS2, the new high-speed railway and the first nuclear power station in a generation, Hinkley Point C. Using the latest technology, we’re driving productivity and creating a lasting legacy by delivering sustainable solutions that strengthen communities.

From consultancy and design, to all aspects of construction and maintenance. We have the proven expertise to deliver large-scale projects safely and successfully.

Diversity and inclusion

At Balfour Beatty we believe that diversity and inclusion are essential components of any successful, happy workplace. Through our Value Everyone Diversity and Inclusion Strategy and Action Plan, we are growing our diverse workforce and developing our inclusive culture where everyone is able to thrive and reach their full potential, regardless of their identity or background. To find out how we are making this a reality, visit www.balfourbeatty.com/diversityandinclusion

We are a Gold Award holder in the Ministry of Defence 'Employer Recognition Scheme' and actively encourage applications from Armed Forces personnel, veterans and reservists.

As a Disability Confident Employer, we are committed to working with people who have disabilities and long-term health conditions to remove barriers for them in obtaining employment. We are also committed to offering applicants with a disability an interview if they meet the minimum requirements for the role. For more info, visit: https://disabilityconfident.campaign.gov.uk/

We are looking to continually improve our resourcing process and ensure that it is fair and inclusive for all. If you have any feedback on the process, please share this with us at: candidaterecruitmentqueries@balfourbeatty.com

For further information, and to apply, please visit our website via the “Apply” button below.