FP&A Cost Management Specialist

Overview

FP&A Cost Management Specialist — Full time. IN:
Pune, BP Business Solutions.

Role is part of bp's Finance, with focus on FP&A activities within the Finance Business & Technology (FBT) organization. The FP&A team delivers financial insights, standardizes processes, and drives operational excellence to support business decisions.

Business Partnering

• Monthly Value of Work Done (VOWD) Preparation:
  Support Budget Responsible Officers (BROs) in preparing monthly VOWD for project and cost centre scopes, continuously improving the process and supporting its application within the Cost Management Tool (CMT).
• AFE Management:
  Lead the creation, documentation, validation, and approval of AFEs as required by asset-specific joint operating agreements and communicate cost objects to the organization following AFE approval.

Operational

• Purchase Order Monitoring:
  Monitor POs associated with project scopes and provide support to BROs.
• Invoice Resolution:
  Support BROs with invoice resolution through collaboration with SAP specialists.
• SES Management:
  Provide guidance on SES release, assist with vendor payment requests, and manage SES reversals.

Technical lead

• Super-User Support:
  Provide Super-User support for CMT, maintaining master data and cost data mapping.

Performance management and reporting

• Planning and Forecasting:
  Collaborate with BROs to develop plans, budgets, and forecasts, ensuring the inclusion of third-party costs, labour, overhead, and allocation data into relevant planning and cost management systems to eliminate data gaps and ensure data quality.
• Cost Performance Analysis:
  Apply technology to develop monthly cost performance analyses (e.g., monthly & quarterly run-rates, cost-reducing initiative delivery, actuals/accrual variance to plan, year-on-year costs) and generate action plans to improve performance.
• Variance Commentary:
  Prepare monthly variance commentary of actuals against QPF, ensuring accurate financial reporting.
• Cost Performance Leadership:
  Lead cost performance processes with regionally deployed BROs, promoting the use of new and standardized systems, and coaching BROs on using available tools to drive self-service, efficiency, and value generation.
• Collaboration and Analysis:
  Support and collaborate with the O&G FP&A Business Performance Team, central Enabler Performance teams, and the FP&A Performance Management Benchmarking & Metrics team in analyzing metrics and KPIs to ensure high-quality, streamlined delivery of performance data.

Continuous Improvement

• Continuously improve cost related systems and processes to increase automation and move towards increasing the self-service model.

Must have educational qualifications

• Engineering Field Degree level or equivalent

Preferred Education/certifications

• Master’s Degree or other qualification in a finance field e.g. MBA, CA, ICWA/Cost Accountants

Minimum Years Of Relevant Experience

• 5 years of relevant post degree experience in cost engineer role.

Preferred Experience

• Experience with in global, complex and matrix organizations in financial reporting, budgeting and forecasting, preferably in oil & gas or retail or logistics or manufacturing or asset-based businesses.

Must Have Experiences/skills (To Be Hired With)

• Advanced-level use of Power
  
  BI, Excel, and data analytics.
• Strong verbal and written communication skills.
• Prior experience in finance processes, especially in estimating value of work done, budgeting & forecasting, and cost monitoring & analysis.
• Continuous improvement in performance management and MI to promote standardization and simplification.
• Ability to gain trust from finance and business senior collaborators.

Will work with

• You will be working with a team of finance professionals as part of the Financial Planning and Analysis (FP&A) organization. The FP&A organization is an exciting new team being established by bp to create a centre of expertise in the areas of business planning, budgeting and forecasting, financial analysis and economic evaluation. The role will regularly interact and be the main contact point for Business/Functions leadership team.
  
  In addition to the FP&A team, you will…