Job Title
Head of Cost Engineering
Ref #
37676
Date posted
Thursday, October 5, 2023
Country
United Kingdom
Location
Woking
Business area
Finance
Department
Finance
Position level
C - Head of Department
Working time
Full Time
Contract type
Permanent
Working pattern
9am - 6pm Monday to Friday
Background

No restraints. No limitations. We don’t simply push boundaries. We completely rethink them. McLaren Automotive exists to create breath-taking performance road cars.

With innovation at the core of all we do, every challenge starts with the same question. How can we do it better? This restless spirit runs right through McLaren Automotive. And the search for perfection is evident in everything we do.

Purpose of Role

We are seeking a Head of Cost Engineering to join the business on a permanent basis. Reporting to the Director of Finance within Product Development, the Head of Cost Engineering will be accountable for setting challenging financial targets to enhance the methodology and toolset to agree Value for Money across material cost and investment and to proactively reduce the unit cost of existing and new product and minimise investment.

  • Proven Cost Engineering experience (material cost plus tooling is preferred) at Senior Manager level
  • Automotive, Manufacturing or Engineering sector.
  • Cost Engineering toolset experience (Siemens or similar)
  • Business partnering, collaboration and negotiation skills as a Cost Engineering leader or via Purchasing or another function
  • Proven leadership experience of managing a multi discipline team

Principal Accountabilities

In summary, this leadership role will take full responsibility for the cost engineering activities across all current production and future programme development. This will include proposing and agreeing the strategic vision and purpose of cost engineering as well as the day-to-day business partnering between cost engineering, purchasing, engineering, programme management and finance.

Reporting to the Finance Director responsible for Product Development and Cost Engineering, and 100% dedicated to supporting purchasing, engineering, and each programme manager to understand, challenge the total cost base of the programme and support external supplier negotiation across all purchased material cost and supplier tooling to deliver cost reductions compared to target cost and compared to prior year. This will be delivered through strong collaboration with the key business leaders as well as cost leadership using value for money tools and methods, whilst delivering first class performance reporting and data analytics for decision making.

  • Lead implementation of the cost engineering strategic vision, structure and organisation for McLaren Automotive
  • Business partner functional engineering, programme purchasing and programme management to understand, challenge the total cost base of the programme and support external supplier negotiation across all purchased material cost and supplier tooling to deliver cost reductions compared to target cost and compared to prior year
  • Work closely with the Director, Programme Management Office and Heads of Purchasing to challenge, identify and deliver actions that support new programme design for cost focus and deliver year over year cost reductions to meet business targets on material cost and investment
  • Lead the cost engineering function across the four areas of investment, new model programmes, engineering change content and year over year cost reduction activity of a growing team of 10 members.
  • Lead and be accountable for the development and implementation of standardised cost analysis systems and instruments across both investment and material cost decision making
  • Development of processes, methods, and tools for cost analysis in cross-functional product cost management
  • Provide both technical and financial expertise to drive and influence business decision making, including cost modelling techniques, value engineering and value analysis.
  • Identify and deliver further cost reduction opportunities from own business experience and knowledge.
  • Support, challenge and influence the design process in achieving cost targets, recommending cost effective solutions aa the way through the design review process until programme completion.
  • Support and actively influence cost reduction programmes for all products by providing technical and costing information to support the business including full support to Supply Gap to Target analysis and/or Product Tear-down events and generation of innovative cost down initiatives.
  • Responsible for providing, reviewing and presenting technical and financial data analysis to Executive Leaders and senior management, including risks and opportunities to maximise business performance.
  • To be accountable for the overall Cost Engineering strategy including budget planning for both business as well as headcount budgets for the Cost Engineering team.
  • Successfully lead, motivate and manage a team of Cost Engineers to high performance with a Hybrid working set up requiring a minimum of 3 days on site.


Knowledge, Skills and Experience
  • Cost Engineering experience across Automotive (preferred), Aerospace and Manufacturing
  • Ability to influence the design of new products, understanding the technical requirements of both internal and external customers
  • Have strong senior stakeholder management with strong negotiation skills.
  • Be able to communicate financial information to people at all levels within an organisation.
  • Knowledge of procurement processes, practical negotiation skills, cost estimating and engineering practices, value analysis, value engineering and cost modelling techniques
  • Ability to apply problem-solving techniques to a variety of product, process and project related issues.
  • A bachelor's degree in Engineering with minimum 10+ years of work experience.
  • Deep understanding on Cost Engineering process and approaches (Should-Cost/Target Costing).
  • Global Leadership experience across multi disciplinary team (3+ years)
  • Strong analytical and problem-solving skills. Strong technical background, in combination with business acumen, market understanding and a willingness to travel.
Personal Attributes
  • Strong influencing skills with the ability to operate at senior level and with cross-functional teams.
  • An adept understanding of Stakeholder management in a matrix environment.
  • Passion to drive for optimal value for money across the business.
  • Innovate / willing to expand on the current team structure and environment.
  • A completer-finisher who has a mindset around seeing projects tasks and ideas through to a quality conclusion Strategic thinking combined with a hands-on ability to deliver.
  • A high level of commercial awareness

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