Job details

Vacancy information

At Subsea 7, we take pride in being recognised globally as a leader across the Energy Industry. For 5 decades our people have delivered over 1000 projects in all water depths across our energy hubs and we continue to do so, adapting and evolving in an ever-changing world. We are committed to creating a diverse workforce and we look to offer excellent career opportunities as well as providing wide range benefits.

Our success and sustainability are only made possible by continuing to develop our assets and technology through innovation and collaboration, and importantly through the development and diversity of our people who every day ‘Make Incredible things Happen’ at Subsea 7.

Due to new and continuing projects we are expanding our team of Project Cost Accountants.   

The role of Project Cost Accountant ensures accurate, timely and value-added analysis and financial reporting on a project.  The discipline contributes to the effective running of projects and comprises responsibility for, but not limited to cost performance status reporting.

The role ensures the provision of all cost control functionality on the project including budget set up, updates and monitoring, change management, variation estimating, cost reporting, risk contingency and management as well as all forecasting activities. The role reports directly to the Cost Control Lead.

Our Old Kilpatrick office is the preferred location to work alongside other key project personnel, however, consideration may also be given to Aberdeen based applicants with experienced aligned to the job requirements.


  • Ensure analysis and understanding of the Project Scope.
  • Develop a common understanding of the Tender budget through a review and analysis process with the relevant estimator and project team members.
  • Ensure the transfer of the Tender budget to the cost model to form the basis of future monitoring and control.
  • Prepare and establish the Cost Breakdown Structure and Budget Elements which describe the full structure to be used in the Cost Control System and that align into the Work Breakdown Structure.
  • Establish a project coding structure in accordance with the Group Guidelines taking into consideration the interface with the Project Planning Function, where applicable.
  • Ensure full coherence and utilisation of the Cost Control System and that it aligns with the Work Breakdown Structure for budgeting purposes and reporting key performance indicators throughout the project.
  • Establish and communicate processes and routines required for effective control and reporting during the project lifecycle to team members with consideration of financial and other compliance legislation.
  • Ensure the use of standard, appropriate templates for internal performance reporting.
  • Ensure familiarity and comprehension of the Group.
  • Maintain constant awareness of progress of work by pro-actively collecting the necessary supporting material (planning and reports) and information from all reliable sources.
  • Ensure the timely coding, collection, analysis and reporting of all project expenditure, together with the budget holder(s).
  • Ensure the monitoring and reporting of project.
  • Conduct reconciliation of forecasted and actual expenditures and the production of project accruals.
  • Produce short- and long-term cash flow projections in a continuous and timely manner.
  • Produce audit reports and other audit information as required by internal & external audit teams.
  • Prepare the Project Monthly Status Report in association with the Package Manager.
  • Prepare Close Out Documentation both internally and externally relevant to the Function.
  • Ensure proactive methods in sharing knowledge and experience, raising areas of difficulty and concern and assisting in improving routines.
  • Participate in estimating Variations Orders, prepare supporting data and documentation.
  • Calculate and plan Estimate To Complete (ETC).
  • Ensure in-depth analysis and reporting of variances on a periodic basis as well as calculate on a monthly basis.
  • Ensure all costs are allocated to the right destinations (departments, contracting entities).
  • Interface with budget owners on a regular basis to review commitments.
  • Interface and establish good working relationships with Parent Project Cost Controllers.
  • Ensure information is fed back to Estimating department during project execution and at project closing whenever needed.

Qualifications & Experience

  • Professional qualifications – Part qualified or currently undertaking studies towards a professional accounting qualification (ie CIMA, ACCA) is desirable although candidates degree qualified ideally in Cost Management, Project Management or Finance will also be considered.
  • Broad experience of delivering Cost Centre Control and various types and size of project preferable.
  • Technical knowledge and application of Cost Control and associated systems.
  • IT literate across the MS Suite, proficient in Microsoft Excel (including advanced pivots/lookups etc)
  • Working knowledge of SAP is preferable, but not essential.
  • Understanding of the energy industry is preferable, but not essential.

Person Specification

  • Excellent communication skills, both verbal and written, accustomed to report writing.
  • Culturally aware, builds and maintains strong business relationships at all levels of the business.
  • Collaborative team worker who also demonstrates initiative and ownership.
  • Adaptable with a hands-on approach to supporting the team.
  • Pro-active and solutions-based, questions and will challenge the status quo.
  • Will devise and implement improvements.
  • Excellent analytical skills, and an ability to work with detail and high accuracy.
  • Strong planning and organising skills, and a commercial awareness.

 Subsea7 are committed to creating a diverse workforce and we look to offer excellent career opportunities as you develop your skills and aspirations.

Along with a wide range of benefits and a flexible working environment, employees can further enhance their work-life balance through our Remote Working Policy.


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Please be on your guard against recruitment scams. These are increasingly being carried out online through false job advertisements, job websites, unsolicited emails, or bogus recruiters purporting to be from Subsea 7. As a company, we treat this fraud very seriously, and ask that you read our Recruitment Fraud guidance, to help you spot the signs of a scam.