Lead Project Cost Controller

6 months ago

Johannesburg, South Africa Wabtec Full time

Wabtec Corporation is a leading global provider of equipment, systems, digital solutions and value-added services for freight and transit rail. Drawing on nearly four centuries of collective experience across Wabtec, GE Transportation and Faiveley Transport, the company has unmatched digital expertise, technological innovation, and world-class manufacturing and services, enabling the digital-rail-and-transit ecosystems. Wabtec is focused on performance that drives progress, creating transportation solutions that move and improve the world. Wabtec has approximately 27,000 employees in facilities throughout the world. Visit the company’s new website at:

It’s not just about your careeror your job title it’s about who you are and the impact you are going to make on the world. Do you want to go into uncharted waters do things that haven’t been done to make yours and someone else's life better? Wabtec has been doing that for decades and we will continue to do so Through our people, leadership development, services, technology and scale, Wabtec delivers better outcomes for global customers by speaking the language of industry.

Lead Project Cost Controller - Wabtec Freight Services South Africa

Role Summary/Purpose:
Essential Responsibilities:

- Lead the development, planning, forecasting, and controlling of the project budgets in collaboration with the core project team and supporting functions.
- Lead the project structuring and set up (onshore/offshore scopes, legal entity dependencies, transfer pricing, tax structuring with Corporate Tax, ERP system set up and flows, etc.) to ensure these will support cost effective and seamless execution.
- Detailed tracking, reviewing, and reporting of project actual financial performance monthly including variances from budget/forecasts, ensuring completeness and accuracy (sales, cost, margin, cashflows) and investigating/validating the corresponding drivers of these deviations
- Review and Analysis of project related balance sheet accounts to ensure completeness, accuracy, and valuation (inventory levels, accounts receivables, progress and deferred balances, provisions, warranties, and contingencies)
- Preparation, coordinating and leading business management project reviews clearly presenting transparent project financial performance, and articulating and quantifying risks and opportunities, including cost savings and price opportunities, as well as maintaining appropriate levels of contingencies
- Manage the customer variation/change order process in collaboration with the core project team, ensuring completeness and accuracy of key inputs, appropriate controllership, and management reviews/approvals (engineering/hours, BOM, procurement/costs, profitability on)
- Review, evaluate, and validate customer claims against contractual project commitments, and support corresponding negotiations and settlements with critical inputs and recommendations
- Lead and manage annual price escalation workings, reviews and customer negotiations to ensure these are completed on time and accurately to protect the project economics including during hyperinflation environment
- Review and manage FX exposure risk and related mitigation strategies including possible hedging and alternative mechanisms in collaboration with Corporate Treasury
- Lead the setting up and tracking of project related securities as needed (down payments, letters of credit, bank guarantees and bonds, etc.) in collaboration with Corporate Treasury
- Manage and co-ordinate intercompany project related transactions (sales and purchases, in line with transfer pricing models and ensure on time settlements)
- Lead the monthly, quarterly, and annual financial close and reporting processes, especially with regards to the project and maintenance service agreement financials
- Collaborate with other functions (Corporate Controllership & Tax), shares services (R2R, AP, AR), third party services providers (PWC statutory & tax filings, EY statutory audits) to ensure proactive and seamless financial execution and reporting.

Qualifications/Requirements:

- Bachelor's degree from an accredited university in Accounting, Finance
- 7 - 10 years of experience in core Finance roles including project financial management (budgeting, forecasting, FP&A, operational project finance, controllership, reporting)
- Understanding of industrial project and after sales services industries and markets, including turnkey project execution and long-term services contracts
- Presentation and communication skills, fluent in English language (writing, reading, speaking, listening), advanced PowerPoint presentation skills
- Strong project management leadership, analytical and problem-solving skills
- Knowledge and preferably previous experience working with US GAAP and local Statutory Standards
- Must have legal authorization to work in South Africa

Desired Characteristics:

- CA(SA) certified or similar Certified Public Accountant qualificati

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