Director of Cost Management

<p class="p1"><strong>At ARCO/Murray, we take our &ldquo;better team, better planning, and better execution&rdquo; culture seriously. But we&rsquo;re not an award-winning firm just because we&rsquo;re a great place to work. We&rsquo;re relentless experts at what we do.</strong></p>

Downers Grove, IL, US

ARCO/Murray Construction Company

.. https://www.arcomurray.com/

keywords: company summary,position summary,what we can offer you,benefits,leadership,coordinate,review,financial,procedure,standards,performance,goals,support,reports,skills,proficiency,experience,necessary qualifications

Full Time

$160,000 - $210,000 USD

Overview: <p>Are you a passionate problem solver? Do you act with integrity and hold yourself and others to the highest standard? If the answer is, &ldquo;Yes!&rdquo; then we have an opportunity that will impress you. Who are we? We are ARCO, a Family of Construction Companies. At ARCO, every associate is empowered to drive their success.&nbsp;The Director of Cost Management will lead ARCO&rsquo;s cost management function and oversee cost management practices across complex construction projects. This role will establish the team&rsquo;s operating model, processes, procedures, reporting standards, and performance expectations while building a high-performing team of cost managers.</p> <p>Working closely with Project Management, Preconstruction, Operations, Finance, and executive leadership, the Director will promote consistent project budgets, forecasts, cost reporting, change management, and risk controls. The ideal candidate brings deep construction cost-control expertise, a track record of leading and developing teams, and experience creating a cost management function or implementing new processes and procedures. They can translate financial and project data into practical guidance that improves project and business outcomes.<br /><br /></p> <div> <p><strong>WHAT WE CAN OFFER YOU</strong></p> <p>We are dedicated to the well-being of our associates and are proud to be consistently recognized as a Best Place to Work. Our compensation and benefits package not only supports our associates and their families but benefits local communities and communities around the world.</p> <ul> <li>Industry-leading performance-based bonus program</li> <li>Employee Stock Ownership Plan (ESOP)</li> <li>Traditional and Roth 401k</li> <li>Tuition reimbursement for associates</li> <li>Scholarship for associates&rsquo; children up to $28,000 per child</li> <li>1-month paid sabbatical after every five years of employment, plus $5,000 for travel</li> <li>1-week paid volunteer leave each year</li> <li>100% charitable match</li> <li>Medical, dental, and vision insurance coverage</li> <li>Paid parental leave</li> </ul> <br /><br /> <div> <p>At ARCO, our first core value is to treat people fairly and do the right thing. We are committed to building and sustaining a culture that supports diversity and inclusion. We are proud to be an equal opportunity employer, and all qualified applicants will receive consideration for employment. From recruiting, training, and hiring practices to selecting our subcontractors, we understand that diversity of all those involved in the construction process enhances our ability to deliver the best solutions to our customers. We hire the best and the brightest from across the country &ndash; constructing a team of experts in architecture, design, engineering, project management, and business services.&nbsp;&nbsp;</p> </div> <div class="job__pay-ranges"> <div class="pay-range"> <div class="description"> <div class="body"> <p>This represents typical base compensation for the role. Candidates with extensive experience may exceed this range. In addition to base salary, the role is eligible to receive discretionary bonus compensation based on individual and company performance.</p> </div> </div> <p class="body body--medium">Pay Range</p> <p class="body"><bdi>$160,000</bdi> - <bdi>$210,000</bdi> <bdi>USD</bdi></p> </div> </div> </div>
Responsibilities: <strong>COST MANAGEMENT STRATEGY AND STANDARDS<br /></strong><br /> <ul> <li>Establish and continuously improve cost management standards, procedures, tools, and reporting practices across the project lifecycle.</li> <li>Build and maintain the operating framework for a cost management team, including roles, workflows, review cadence, escalation paths, and quality controls.</li> <li>Develop consistent approaches to budgets, cost codes, work breakdown structures, commitments, accruals, forecasts, cost-to-complete analysis, and estimates at completion.</li> <li>Align cost management practices with project controls, preconstruction, accounting, procurement, and operational needs.</li> <li>Evaluate systems, data, and processes; identify gaps and lead practical improvements that increase accuracy, consistency, and usability.</li> <li>Promote strong documentation, internal controls, and timely, reliable project financial information.</li> </ul> <br /><strong>TEAM LEADERSHIP AND DEVELOPMENT<br /></strong><br /> <ul> <li>Lead, coach, and develop a team of cost managers supporting projects and business units.</li> <li>Set clear goals, performance expectations, and professional development plans; provide regular feedback and support career growth.</li> <li>Allocate team resources across projects, balance workloads, and adjust coverage to meet business priorities.</li> <li>Create a collaborative team culture focused on accountability, continuous improvement, and partnership with project teams.</li> <li>Recruit and onboard cost management talent as the function grows, and build knowledge-sharing and training practices.</li> <li>Serve as a senior advisor and escalation point for cost managers and project leadership on complex cost issues.</li> </ul> <br /><strong>PROJECT FINANCIAL OVERSIGHT AND INSIGHT<br /></strong><br /> <ul> <li>Provide oversight of project budgets, commitments, actual costs, accruals, cash-flow projections, forecasts, and estimates at completion.</li> <li>Review project financial performance, budget-to-actual variances, cost trends, exposures, and profitability; identify risks and opportunities early.</li> <li>Partner with project leaders to develop mitigation plans and support informed decisions on cost, scope, procurement, and execution.</li> <li>Review cost reports and forecasts for completeness, consistency, and accuracy; help ensure updates reflect current project conditions.</li> <li>Coordinate cost information with schedules, project progress, procurement, and change activity.</li> <li>Prepare and present portfolio-level dashboards, financial summaries, and executive updates on performance, risks, and required decisions.</li> </ul> <br /><strong>CHANGE MANAGEMENT, BILLING, AND COMMERCIAL CONTROLS<br /></strong><br /> <ul> <li>Establish consistent practices for tracking potential and approved changes, including scope, pricing, schedule, and risk impacts.</li> <li>Oversee processes for incorporating approved changes into project budgets, forecasts, commitments, and cost reports.</li> <li>Provide guidance on subcontractor payment applications, invoices, commitments, and supporting documentation in coordination with Project Management and Finance.</li> <li>Support subcontract buyout, contract administration, claims documentation, and change-order negotiations as needed.</li> <li>Promote timely resolution of billing discrepancies and clear, accurate project records throughout the project lifecycle.</li> </ul> <br /><strong>BUSINESS PARTNERSHIP AND CONTINUOUS IMPROVEMENT<br /></strong><br /> <ul> <li>Partner with Project Managers, Superintendents, Preconstruction, Finance, subcontractors, vendors, and clients to strengthen cost visibility and project outcomes.</li> <li>Communicate cost performance, risks, assumptions, and recommendations clearly to audiences ranging from project teams to executive leadership.</li> <li>Develop and deliver training, guidance, and tools that help project teams use cost information consistently and effectively.</li> <li>Monitor team and project performance, identify recurring issues, and lead improvements to processes, reporting, and controls.</li> <li>Support the growth and evolution of the cost management function as business needs change.</li> </ul>
Requirements: <ul> <li>Bachelor&rsquo;s degree in Construction Management, Engineering, Accounting, Finance, Business, or a related field; equivalent experience may be considered.</li> <li>10 to 14 years of experience in construction cost management, cost control, project controls, project accounting, commercial management, or a related function.</li> <li>Demonstrated experience leading, coaching, and developing a team of cost managers or comparable construction finance/project controls professionals.</li> <li>Experience establishing or scaling a cost management team, including developing its processes, procedures, standards, and reporting practices.</li> <li>Experience with Procore required.</li> <li>Experience with general contracting, design-build, EPC, infrastructure, industrial, data center, or other complex construction projects.</li> <li>Strong understanding of construction budgets, forecasting, subcontractor costs, change management, commitments, accruals, and project financial reporting.</li> <li>Ability to interpret construction contracts, drawings, specifications, schedules, and cost information.</li> <li>Advanced Excel skills and experience with construction ERP, project-management, or cost-control systems.</li> <li>Strong communication, analytical, organizational, and relationship-building skills, with the ability to influence across project teams and business functions.</li> <li>Ability to manage competing priorities, exercise sound judgment, and drive consistent execution across multiple projects.</li> </ul>