Finance Project Accountant

Accountabilities:

• Accountable for the financial control of assigned projects, working hand-in-hand with the Project Manager to secure and enhance the As Mobilised forecast Gross Profit of the project and outperforming the As Mobilised forecast cash curve if applicable.
• Provide clear visibility and control of project working capital including, Accrued Income, Account Receivables, WIP, GRNI and Accounts Payable.

Prior to project mobilization:

• Working with the Project Manager, ensure that there is a clear understanding of key contractual terms and that all assumptions and constraints in the As Bid forecast Gross Profit are well understood.
• Ensure a clear understanding of the split of the budget elements between internal and external labour required to deliver the project scope by supporting the Project Manager in resource planning.
• Ensure that the project team has obtained clear line of sight of own equipment v hired-in / purchased equipment required to deliver the customer requirements identified.
• Ensure that key logistic requirements and consumables have been appropriately identified, so that the costs can be reliably forecast in the As Mobilised forecast Gross Profit.
• Verify project revenue and cost baseline and ensure that any differences between the As Bid and As-Mobilised forecast Gross Profit are submitted to the Business Line VP for approval and sign-off.
• Ensure the creation of the customer sales order in Navision with the approved WBS structure and ensure that a detailed revenue & cost budget along with all relevant milestones if applicable are correctly input.
• Ensure the creation of Job Code in Navision with the approved WBS tasks and ensure the management of active(live) job codes in line with the phased execution of the project.
• Ensure that the As Mobilised phased revenue and cost forecast is taken on into Mercury and BFT at the required level of granularity, reconciled to the approved budget baseline, before the project is released into execution.
• Ensure that all timesheets and purchases are timely and correctly recorded on the project throughout the project execution phase.
• Work with the Project Manager and Invoicing Coordinators to ensure the timely approval and invoicing of all work completed in line with contractual requirements / milestones and manage the prioritisation of invoicing where a factor is used.
• Ensure that the Project Manager s signs-off monthly project performance including key KPIs, working capital, GP performance, project CAC and cashflow forecast if applicable.
• Accountable for the integrity of the project forecast held in Mercur and BFT throughout the project lifecycle, ensuring that at all times it reflects the agreed scope, the current execution schedule and the latest assessment of risks and opportunities.
• Accountable for a single, reconciled version of the forecast, ensuring that the values held in Mercure and BFT agree, that Navision actuals reconcile to the forecast structure, and that any differences are identified, explained and resolved.
• Ensure the effective financial close-out and archiving of project financial documentation.

Responsibilities

• Monitor commitments and accruals and track contingencies, provisions and management reserves
• Support the Project Manager in cost forecasting (EAC/ETC) and monitor project financial performance v budget & forecast, identify variances and establish root cause. Track customer PO cover and notify the Project Manager of potential breaches
• Implement cost control measures agreed by Project Manager as necessary
• Participate in deep-dive project reviews and analysis, supporting Finance Leadership and Project Managers with a clear view of forecast GP evolution verses previous forecast.
• Work with business line teams to understand performance variances and coordinate with SSC to ensure accurate variance explanations in management reports.
• Ensure correct rates are charged to the client in accordance with the SOR outlined in the contract or PO

During the monthly close:

• Ensure that all previous month s cost accruals are reversed and review and equipment off-hire has been processed as per schedule provided by the PM
• Analyse timesheet reporting for completeness / coded and that contractor invoices align with timesheets
• Review receipted PO s (GRNI) reporting from the SSC and approve accruals
• Review unposted supplier invoices reporting from the SSC and approve accruals, avoid double counting
• Manage revenue recognition (accrued income), ensuring accurate and timely recording of income in accordance with FRS15, contract terms / milestones and group accounting standards and policies.
• Approve accrued income / AR & WIP provisions and client bonus if applicable and request to SSC to process entries Maintain cost accruals for cost which has not been invoiced or receipted
• Finalize GP analysis and prepare project KPIs incl. BS / Working Capital & follow-up reason for trends. Issue pack to PM by work day 3/4(EUR/AMEC) / work day 7/8(APAC/AMER)
• Run GP reviews with Project and Operations Managers, capturing key discussion points and agreed amendments or corrections, either at a job or service line level, to ensure revenue and costs are aligned. Ensure that final adjustments are recorded by the SSC and submit final report to PM for sign-off.
• Support the Business Line with the consolidation of projects for profitability reporting, conduct variance analysis, commentary and support the Business Line leads on query resolution.
• For month end reporting, provide supporting commentary and analysis for review with Geography FDs. Identify and highlight financial trends, providing actionable insights to support decision-making.
• Review regular Business Line/Service Line/Jobs profitability reports produced by SSC R2R team and support with query resolution related to the production of regular reports.