Project Cost Analyst

Job Type: Full-Time | Location: Kiowa, OK | Department: Construction | Reporting to: Senior Project Controls Specialist|Work Location Type:#hybrid

IREN is a leading AI Cloud Service Provider, deliver large-scale GPU clusters for AI training and inference. IREN's vertically integrated platform is underpinned by its expansive portfolio of grid-connected land and data centers in renewable-rich regions across North America, Europe and APAC.

The Sr Project Cost Analyst is responsible for the full life-cycle financial controls of large-scale data center and hyperscale infrastructure construction projects across IREN's North American portfolio. Reporting to the Sr Manager, Cost Management within the Project Controls Group, this role serves as the financial backbone of active capital programs – maintaining project budgets, governing Work Breakdown Structure (WBS) coding, analyzing spend and cash flow variances, and leading Capex funding requests from inception through approval. As a senior member of the team, the role also acts as a finance business partner to project, procurement, finance and executive stakeholders and helps raise the standard of project controls across the business. The ideal candidate combines strong analytical and accounting skills with hands-on construction finance experience and the ability to partner cross-functionally with project managers, procurement, finance and executive leadership.

Responsibilities

• Establish, maintain and govern project cost baselines and WBS / cost-code structures within the cost management and ERP systems (e.g., SAP, Primavera, Procore or equivalent), ensuring accurate allocation of labor, material, equipment and subcontractor costs.
• Process and cost-code purchase orders, contracts, change orders and vendor invoices; reconcile commitments vs. actuals weekly and identify and resolve coding errors promptly to maintain cost data integrity.
• Perform budget transfers, realignments and contingency drawdowns with full documentation and audit trails.
• Conduct monthly and quarterly cost variance analysis comparing actual expenditures to budget and forecast; identify root causes and escalate material deviations.
• Develop and maintain project cash flow models (S-curves), working with procurement and project teams to incorporate material costs, contractor billing cycles, procurement timelines and expected cash flow timing.
• Produce rolling 90-day and project-to-completion cost forecasts and Estimate at Completion (EAC) reports, integrating schedule data; support Earned Value Management (EVM) reporting where required by project governance.
• Monitor committed, accrued and incurred costs; coordinate with Accounts Payable and procurement to ensure timely and accurate accruals at period-end.
• Own the end-to-end Capex authorization process: prepare AFE (Authority for Expenditure) packages, supplemental funding requests and project change authorizations; manage approvals through internal governance (project review boards, finance committees, executive sign-off); and track approved appropriations against actual and committed spend, flagging potential overruns in advance.
• Maintain the consolidated Capex funding log for the portfolio and provide monthly status updates to the Sr Manager, Cost Management.
• Prepare monthly project cost reports, the cost sections of project status and owner reports, and board-level summaries, including executive-ready variance narratives and dashboards.
• Act as the finance business partner for project stakeholders – project managers, engineering, procurement, finance and executive leadership – translating operational progress into clear financial reporting and identifying cost trends, risks and savings opportunities.
• Support project close-out, including final cost reconciliation, capitalization of assets and lessons-learned documentation.
• Ensure compliance with company financial policies, internal controls and SOX requirements (where applicable); support documentation requests, audits and internal reviews related to project spend.
• Provide guidance to junior project cost analysts and contribute to the continuous improvement of project controls processes, tools and reporting standards.

Requirements

• Bachelor's degree in Finance, Accounting, Construction Management, Engineering or a related field. Equivalent experience considered.
• 7+ years of experience in project controls, cost engineering, finance or accounting, including hands-on experience on large-scale capital construction projects ($50M+).
• Demonstrated experience maintaining project budgets and WBS structures and managing Capex / AFE approval workflows.
• Proficiency with ERP, cost management or PMIS platforms (SAP, Oracle Primavera P6 / EPPM, Procore, e-Builder or similar).
• Advanced Excel skills (pivot tables, complex formulas, financial modeling) and strong proficiency across MS Office (PowerPoint, SharePoint, Outlook); Power BI or Tableau a plus.
• Solid understanding of construction contracts (GMP, lump sum, IDIQ), change order management and cost-at-completion forecasting.
• Excellent written and verbal communication skills, with the ability to present financial data to non-financial stakeholders and interact effectively with executive leadership, service providers and project management teams.
• Strong time management and prioritization skills, with the ability to multitask with a sense of urgency in a fast-paced, multi-project hyperscale construction environment.

• Firsthand experience with SAP (or another large-scale ERP) for project cost management strongly preferred.
• Prior experience in data center, critical infrastructure, energy, oil & gas or hyperscale construction projects.
• Experience with Earned Value Management and EVM reporting systems.
• Familiarity with construction loan draw processes and lender-side reporting.
• Experience supporting AFE / Capex processes at hyperscale, technology or infrastructure firms.
• Knowledge of West Texas or Oklahoma permitting, contracting and labor market dynamics.

Benefits