The Cost Engineer is responsible for internal financial analysis focused on the cost of the car. The team plays a critical role in optimising and improving the costs of Formula 1 inventories through detailed analysis to ensure financially efficient design, production and high‑quality output. You will gather data from across the business and interpret it, working closely with cross‑functional teams to report cost implications and identify areas for improvement, process enhancements and opportunities to drive operational excellence.
Main Duties:
- Analyse the design of components with production acumen to estimate the cost of p arts and understand the total cost of manufacturing the car.
- Estimate project budget requirements and tailor the reporting to provide the most important insight to each department.
- Analyse the cost driver and lever to assist the engineering and production teams to improve the design, development, and optimization of the manufacturing processes and procedures to reduce the cost of production.
- Through analysis of cost data, to provide financial insights that can be used to develop strategies to achieve higher efficiency.
- Conduct root cause analysis on cost variance s and make recommendations for corrective actions.
- Monitor and analyse production financial data to identify trends, patterns, and opportunities for improvement in cost management.
- Collaborate with suppliers and vendors to understand and evaluate the financial impact of adopting new equipment, materials, and technologies.
- Participate in cross-functional teams as the finance subject matter expert to support new process and continuous improvement projects.
- Stay up to d ate with the latest advancements in costing and contribute to a culture of innovation and knowledge sharing.
- Support the business’ initiative s to deliver car performance through cost cap optimisation whilst maintaining compliance.
- Support with development and d e livery of training and education programs to the busine ss to improve financial efficiency
Core Competencies:
General understanding of CFRP manufacturing processes.
Experience of ana lysing cost, processes, or project management skills.
Rigorous approach to data analysis and interpretation.
Good communications skills with the ability to influence, collaborate and communicate with cross-functional teams and stakeholders at all levels in the organization.
Curious and enthusiastic to challenge the status quo whilst ensuring compliance.
Agile mindset and flexible approach to comply with ever changing fast-paced environment.