Cost Engineer - Associate (Bangalore, KA, IN, 560066)

About us At ExxonMobil, our vision is to lead in energy innovations that advance modern living while reducing emissions. As one of the world’s largest publicly traded energy and chemical companies, we are powered by a unique and diverse workforce fueled by the pride in what we do and what we stand for. The success of our Upstream, Product Solutions and Low Carbon Solutions businesses is the result of the talent, curiosity and drive of our people. They bring solutions every day to optimize our strategy in energy, chemicals, lubricants and lower-emissions technologies. We invite you to bring your ideas to ExxonMobil to help create sustainable solutions that improve quality of life and meet society’s evolving needs. Learn more about our What and our Why and how we can work together . Summary The Cost Engineer in Procurement/Sourcing Solutions is responsible for developing accurate and comprehensive cost estimates, delivering business value analyses, and supporting procurement strategies across all project stages—from early concept through booking. The position combines deep cost engineering expertise with strong analytical, financial, and project management skills. The role ensures robust cost models, identifies value opportunities, validates realized savings entries, and drives continuous improvement in procurement performance. Collaboration with global stakeholders, Category Management, and cross-functional business partners is essential. Key Interfaces Procurement Categories DAS & Oversight Teams Sourcing Solutions Teams Product Solutions Finance / Controllers External Data Providers Cross-functional project teams Core Responsibilities 1. Cost Engineering & Procurement Support Develop accurate cost estimates using industry-standard methodologies (Should-Cost, TCO, indexation models, benchmarking). Prepare and present business value opportunities, including cost reduction, cost avoidance, and competitiveness insights. Perform financial analysis, assessing spend trends, margins, supplier economics, and market movements. Lead cost engineering analyses and provide recommendations to enhance procurement strategies. Prepare key deliverables including cost models, project one-pagers, category training materials, and presentations. Conduct internal and external benchmarking to evaluate competitiveness. Support continuous improvement of procurement processes and tools. 2. Realized Savings Governance & Validation Develop and implement strategies for consistent validation of realized savings across all Procurement Category Families. Review, validate, and challenge cost-savings entries to ensure accuracy, transparency, and alignment with business rules. Analyze processes, systems, and expenditures to confirm tangible financial benefits. Quantify validated savings using data analytics and financial modeling techniques. Maintain and update weekly/monthly savings metrics to support planning and stewardship. Ensure Realized Savings reporting is audit-ready, accurate, and aligned with senior management expectations. 3. Project Management Lead cross-functional savings and cost engineering initiatives from planning through execution. Manage scope, timelines, and deliverables for multiple concurrent projects. Support implementation of process improvements and technology solutions that enhance cost transparency and operational efficiency. 4. Stakeholder Engagement & Communication Build strong relationships with key stakeholders across Procurement, Finance, and Business Lines. Provide regular updates on cost engineering deliverables, value opportunities, and realized savings outcomes. Communicate complex financial and technical information clearly to both technical and non-technical audiences. Facilitate workshops, trainings, and alignment sessions with Category Teams and suppliers. 5. Continuous Improvement & Market Insights Identify and implement best practices to enhance cost estimation, benchmarking, and savings validation processes. Stay informed of market trends, economic indicators, and industry benchmarks impacting cost structures. Benchmark against industry standards and propose improvements to internal processes and methodologies. Key Deliverables Cost Models (TCO, Should-Cost, Indexation, Benchmarking) Validated Realized Savings entries and governance documentation Business Value Opportunity reports Category presentations, training materials, stewardship updates Azure capacity updates SharePoint Business Value Tracker and Realized Savings Tracker updates Insights for category strategies and business reviews Process Improvement documentation Key Performance Indicators (KPIs) Business Value Opportunities Identified ($) Business Value Opportunities Booked ($) Validated Realized Savings ($) Cost Engineering Deliverables (#) Identified vs. Booked Savings (%) Timeliness & accuracy of reporting Qualifications & Experience Bachelor’s degree in Engineering, Business, Finance, or related field (Master’s preferred). 5+ years of