Senior Cost Engineer

Senior Cost Engineer
Location: Hybrid – 60% on-site
Contract: Until 30th June 2026
Hours: 37 per week
Inside IR35
Driving Licence: Essential

Overview

We are seeking a Senior Cost Engineer to support financial target setting for unit cost and investment at the system/component level. This role focuses on reducing costs for new and existing products while ensuring minimal investment. The Senior Cost Engineer will provide technical and financial expertise through cost modelling, value engineering, and collaboration with procurement, manufacturing, and engineering teams to identify cost-saving opportunities.

Key Responsibilities

Financial Target Setting

• Define unit cost and investment targets for vehicle programmes.
• Use benchmark data and cost insights to support target setting.
• Align targets across modules and establish component cost goals for current model projects.

Cost Control & Business Decision Support

• Ensure designs meet cost targets by recommending cost-effective solutions.
• Lead cost reduction programmes, including supplier workshops and tear-down analysis.
• Assess engineering changes and supplier cost models, supporting negotiations.
• Evaluate alternative designs and manufacturing methods to optimise costs.

Data & Financial Reporting

• Present financial performance reports on unit cost and investment.
• Maintain visibility of cost risks and opportunities, driving corrective actions.
• Educate teams on financial processes to improve cost management.

Process Improvement

• Enhance cost engineering processes and collaboration between teams.
• Implement best practices to drive efficiency.

Essential Skills & Experience

• Strong knowledge of manufacturing costs, supplier pricing, and cost optimisation.
• Ability to analyse CAD drawings and engineering concepts for cost estimation.
• Experience with costing systems (e.g. Siemens TCPCM, SAP) and Microsoft Suite.
• Background in engineering, procurement, or commercial functions in automotive/aerospace.

Desirable Qualifications

• Degree or equivalent in Engineering, Procurement, or related field.
• Experience in supplier negotiations and value engineering.
• Knowledge of virtual cost modelling tools.

Why Join Us?

This is a fantastic opportunity for a Senior Cost Engineer to drive cost efficiency within a leading organisation. Working closely with suppliers and senior management, you will optimise cost structures, enhance product value, and support strategic decisions.

If you have expertise in cost analysis, engineering, or procurement and a passion for cost reduction, apply now!