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For Companies At a Glance
- Tasks: Analyse costs and optimise production for high-performance Formula 1 cars.
- Company: Join the legendary Williams F1 Team, a leader in motorsport innovation.
- Benefits: Enjoy competitive pay, generous holidays, gym access, and vibrant team events.
- Why this job: Be part of a dynamic team driving engineering excellence in a fast-paced environment.
- Qualifications: Degree in Mechanical, Industrial, or Management Engineering; experience in prototype manufacturing.
- Other info: Embrace a culture of innovation and continuous improvement with excellent career growth opportunities.
The predicted salary is between 36000 - 60000 ÂŁ per year.
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 parts 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 optimisation of the manufacturing processes and procedures to reduce the cost of production.
- Through analysis of cost data, provide financial insights that can be used to develop strategies to achieve higher efficiency.
- Conduct root cause analysis on cost variances 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 date with the latest advancements in costing and contribute to a culture of innovation and knowledge sharing.
- Support the business’ initiatives to deliver car performance through cost cap optimisation whilst maintaining compliance.
- Support with development and delivery of training and education programs to the business to improve financial efficiency.
Core Competencies
- General understanding of CFRP manufacturing processes.
- Experience of analysing cost, processes, or project management skills.
- Rigorous approach to data analysis and interpretation.
- Good communication skills with the ability to influence, collaborate and communicate with cross‑functional teams and stakeholders at all levels in the organisation.
- Curious and enthusiastic to challenge the status quo whilst ensuring compliance.
- Agile mindset and flexible approach to comply with ever changing fast‑paced environment.
Qualifications
- Mechanical, Industrial or Management Engineering degree.
- Experience in a prototype manufacturing environment or similar.
Additional Information
We fuel our team with a competitive benefits package, including generous holidays, vibrant staff events, a subsidised onsite restaurant, and a range of car schemes. Stay energised with 24/7 access to our gym and free fitness classes like outdoor boot camps, Pilates, and Yoga. With free parking and sprawling green spaces, you’ve got the perfect space to recharge and refocus. Join a fast‑paced, future-thinking team that’s driving innovation and pushing past engineering boundaries.
Atlassian Williams F1 Team is an equal opportunity employer that values diversity and inclusion. We are happy to discuss reasonable job adjustments.
Cost Engineer employer: Motorsport Network
Contact Detail:
Motorsport Network Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Cost Engineer
✨Tip Number 1
Network like a pro! Reach out to folks in the industry, especially those connected to Formula 1. Attend events, join online forums, and don’t be shy about asking for informational interviews. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Show off your skills! Create a portfolio or a presentation that highlights your cost analysis projects and any relevant experience. When you get the chance to chat with potential employers, use this as a visual aid to demonstrate how you can add value to their team.
✨Tip Number 3
Be proactive! Don’t just wait for job postings to pop up. Reach out directly to companies you admire, like Williams F1, and express your interest in working with them. Tailor your message to show how your skills align with their goals, especially in cost optimisation.
✨Tip Number 4
Keep learning! Stay updated on the latest trends in cost engineering and manufacturing processes. Consider taking online courses or attending workshops. This not only boosts your knowledge but also shows potential employers that you’re committed to continuous improvement.
We think you need these skills to ace Cost Engineer
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in cost analysis and project management. We want to see how your skills align with the role of a Cost Engineer, so don’t be shy about showcasing relevant projects or achievements!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re passionate about optimising costs in the F1 world. Share specific examples of how you've tackled similar challenges in the past – we love a good story!
Show Off Your Analytical Skills: Since this role is all about data analysis, make sure to highlight your analytical prowess. Mention any tools or methodologies you’ve used to analyse costs and improve processes. We’re looking for someone who can dive deep into the numbers!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, you’ll find all the details you need about the role and our team!
How to prepare for a job interview at Motorsport Network
✨Know Your Numbers
As a Cost Engineer, you'll be dealing with financial data all the time. Brush up on your cost analysis skills and be ready to discuss how you would approach estimating project budgets or analysing cost drivers. Bring examples of past experiences where your analysis led to significant cost savings.
✨Understand the Manufacturing Process
Familiarise yourself with CFRP manufacturing processes and how they impact costs. Be prepared to talk about how you can leverage this knowledge to optimise production and improve efficiency. Showing that you understand the technical side will impress the interviewers.
✨Collaboration is Key
This role requires working closely with cross-functional teams. Think of examples where you've successfully collaborated with others to achieve a common goal. Highlight your communication skills and how you can influence stakeholders at all levels.
✨Stay Curious and Innovative
The team values a curious mindset that challenges the status quo. Prepare to discuss how you've approached problems creatively in the past. Share any ideas you have for improving cost management or enhancing processes, as this shows you're proactive and forward-thinking.
