Cost Analyst (Cost Efficiency)

We’re pleased to announce a new Cost Analyst opportunity that will play a pivotal role in our team’s future success. This position will strongly impact on our team performance and will be vital in enhancing our competitiveness, in 2022 and beyond.

 

Reporting to the Senior Cost Analyst (Cost Efficiency) you will be working closely with the Technical and Operational departments and liaising with other Cost Analysts in the Design Office, Race Team and Finance Team members. You’ll be responsible for driving cost data quality and determining the cost drivers within your assigned business area. You will also play a key role in highlighting cost saving and efficiency opportunities and scenario planning to make sure the best value for money propositions are delivered.

 

This role will get involved in estimating, monitoring, and forecasting costs, seeking the optimum balance between cost, quality, and time requirements. You will also be responsible for assessing the financial viability of improvement activities and for tracking costs which have a direct impact on our cost cap limits.

 

With the new Financial Regulations firmly in place since 2021, it’s essential that we remain financially sustainable, whilst maximising our cost efficiency, and this role will be key to our success.

 

Key Accountabilities:

Business Partnering with a specific business area, you will:

  • Have a comprehensive understanding of the F1 Financial Regulations

  • Provide accurate costing information and analysis on F1 projects throughout their life cycles to facilitate decision making

  • Plan and forecast cost estimates of car parts, assemblies, and systems

  • Work with the supply chain to predict the ‘total cost’ of components and activities

  • Drive cost reduction programmes in line with budget requirements

  • Ensure good maintenance of financial data held within SAP, Spotfire and other appropriate systems

  • Perform variance analysis and develop effective strategies and recovery plans to bring cost in line with target budget

  • Work with ERP, Finance, other Cost Analysts, and the wider Team to ensure consistency of approach and methodologies, aligning processes and standardising practices

  • Candidate Profile:

  • The ideal candidate would be educated to Degree or Diploma level, have strong analytical skills, a sound working knowledge of operational and engineering activities

  • You must be confident with numerical analysis and have good communication and negotiations skills, to work well with different functions across the organization

  • Be familiar with SAP and possess some automation coding skills

  • We are looking for a self-motivated, team player that is passionate about working for our team and has a winning mindset

  • You should have the ability to build stakeholder relationships and be able to present complex information to a range of audiences

  • You will be able to work independently and to strict deadlines

Benefits:

 

We demand the best from our people so it’s only right we reward them with the best benefits. That’s why we offer a competitive package, including: a generous bonus scheme, life assurance, private medical cover, onsite gym and 25-days holiday.