Contract Review & Cost Compliance - Director

OVERVIEW

NEOM is an accelerator of human progress and a vision of what a new future might look like. A region in northwest Saudi Arabia on the Red Sea, NEOM is being built from the ground up to include hyperconnected, cognitive cities, ports, next-generation infrastructure and industries, enterprise zones, research centers, sports and entertainment venues and tourist destinations.

As a destination, it will be a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.

As a workplace, it is a place for people who share our core values of care, curiosity, diversity, passion, respect, and becoming a catalyst for change.

Are you ready to help NEOM find solutions to the world’s most pressing challenges? Are you prepared to create a lasting legacy that benefits generations to come? Then we want to hear from you!

ROLE OVERVIEW

The Contract Review & Cost Compliance Director is responsible for overseeing the financial and commercial assessment of capital contracts within the organization. This role ensures that all financial aspects of contracts are compliant with company policies and aligned with the organization's strategic goals. The Director will lead the review of financial risks, cost effectiveness, cost control measures, and ensure that project and contract proposals meet financial performance targets. The Director will need to ensure work done is appropriately captured in financial systems and accounting records.

This role will also focus on enhancing the efficiency and effectiveness of contract reviews, collaborating closely with project management, legal, procurement, and operations teams to optimize commercial outcomes for the business.

REQUIREMENTS SUMMARY

• Contract and Commercial Review: Lead a comprehensive review of all project-related contracts and agreements. Assess commercial terms and conditions, financial risks, and opportunities within contracts. Ensure all contracts align with the company’s financial objectives, budget, and compliance policies. Develop and implement a framework for continuous improvement in commercial review processes. Provide pre and post contract services including cost planning and value engineering, contract administration, payment and final account reconciliation, change control and project liaison.

• Risk Management and Compliance: Identify potential financial risks related to contracts and ensure solutions are in place to mitigate them. Ensure compliance with internal financial policies, industry standards, and relevant regulations. Work with legal and compliance teams to ensure that all contractual obligations are fully understood and adhered to.

• Financial Analysis and Cost Control: Provide in-depth financial analysis of projects and contracts, including payment terms, use case, cost effectiveness, and cost optimization. In conjunction with ETSD (Engineering Technical Standards Department), ensure robust cost estimation and in collaboration with Strategic Finance and FP&A, ensure that the budget allocation processes is in line with the Strategic Plan and that costs are tightly controlled. Track and monitor financial capital life cycle cost of ongoing projects, identifying variances from the plan and ensuring corrective actions are implemented.

• Leadership and Stakeholder Management: Lead, mentor, and develop a team of commercial review specialists and finance analysts. Collaborate with project management, procurement, operations, and legal teams to align commercial strategies with business objectives. Present findings and recommendations to senior management and relevant stakeholders.

• Process Optimization and Reporting: Continuously evaluate and enhance the commercial review process for efficiency and accuracy. Ensure work done is appropriately captured in financial systems and accounting records. Develop and maintain comprehensive financial reporting systems for project and contract reviews. Implement best practices in project financial management, ensuring timely and accurate reporting.

ROLE COMPETENCIES & ACTIVITIES

The Contract Review & Cost Compliance Director responsibilities will include, but not be limited to:

Stakeholder Management

• Analyze stakeholders’ needs, interests, and influence to prioritize engagement strategies.
• Develop and implement stakeholder engagement plans tailored to different stakeholder groups.
• Build and maintain strong relationships with stakeholders through regular communication and meetings.
• Act as the primary point of contact for stakeholders, addressing their concerns and providing updates on relevant activities.
• Manage the dissemination of information, ensuring timely and accurate communication.
• Work closely with internal teams, including communications, project management, and legal, to ensure stakeholder interests are aligned with organizational objectives.
• Identify and address potential conflicts or issues with stakeholders proactively.
• Mediate disputes or misunderstandings, ensuring that resolutions are in the best interest of both the stakeholders and the organization.

Change Management

• Stay informed about best practices in stakeholder management and apply them to enhance engagement strategies.
• Seek feedback from stakeholders to continuously improve the quality of engagement and communication.
• Promote transparency and accountability in all interactions with stakeholders.
• Identify potential risks associated with the change and develop strategies to mitigate them.
• Develop a strategy that outlines the approach, resources and timelines for implementing the change.

Project Management

• Provide regular reports to senior management on stakeholder engagement status, risks, and opportunities.
• Use feedback and data to refine and improve stakeholder management strategies.
• Coordinate stakeholder involvement in projects, ensuring their feedback is integrated into planning and decision-making processes.
• Track and monitor stakeholder engagement activities and their impact on project outcomes.

Leadership

• Prepare and deliver presentations, reports, and other communication materials tailored to stakeholder needs.
• Ensure that all stakeholder engagement activities comply with the relevant regulations and ethical standards.
• Utilize data analytics to drive strategies and decisions.

Culture and Values

• Embrace NEOM’s culture and Values https://www.neom.com/en-us/about
• Act with honesty and integrity by following best practices, and upholding the robust standards and expectations set out in NEOM’s Code of Conduct.
• Maintain fair, ethical and professional work practices in accordance with NEOM’s Values and Code of Conduct.
• Adhere to NEOM’s Policies, procedures, and controls to ensure compliance with rules. 

EXPERIENCE & QUALIFICATIONS

Knowledge, Skills and Experience

• 12+ years of experience in finance, with a focus on financial planning & analysis, performance management, or financial reporting.
• Strong project control, commercial management and contract management experience, most likely in construction or a capital-intensive industry.
• Previous experience managing the financial performance of multiple business units or subsidiaries is essential.
• Strong understanding of financial analysis and reporting processes.
• Proven track record of successfully managing relationships with diverse stakeholder groups.
• Strong strategic thinking and problem-solving abilities.
• Ability to manage multiple priorities and work under pressure.
• High level of emotional intelligence and diplomacy. 

Qualifications

• Bachelor’s degree in Finance, Accounting, Business Administration (Master’s degree preferred), Quantity Surveying or a related field.
•  Relevant certifications in Project Management (PMP), Quantity Surveying (MRICS), Finance/Accounting/Auditing (CPA, ICAEW, ICAI, ICAP, ACCA, CMA, ACA, CA, CIA, CISA, CFE or similar).