Project Accountant

3 weeks ago


Chesterfield, United Kingdom SF Recruitment Full time

An exciting, project driven finance role working for a leading UK-wide, global LSE listed specialist engineering contracting business.

UK t/o - £100m

Group t/o - c.£3bn


About the business


I'm delighted to be working in exclusive partnership with a leading player in the engineering sector boasting a strong market share and a global footprint with a consistent, repeat customer base and profitable business model.


With Group t/o around £3bn, a strong order book and strong growth plans for the future, this is an exciting time to join the organisation following restructure.


About the role


You'll be joining the business working from their East-Chesterfield site with close access to the M1. The role will be underpinned by the following aspects:


Assist in driving improved project financial performance

Ensuring integrity, accuracy and consistency in financial reporting and working capital management across a portfolio of Projects and Warehouses/Yards

Ensuring effective financial control, project forecasting and reporting, understand variances to plan and provide support to decision-making across the entire project life cycle from bidding to close

This role demands a commercially aware individual with a firm understanding of project accounting including revenue recognition, cost management, contract agreements, billing, and financial analysis.


Key Roles and Responsibilities


Operations

Pre-contract assessment

- Input to bid submissions on risk/exceptions basis e.g. contract conditions, cost assumptions, payment terms/cash flow, fx risk, bonding etc.

- Undertake customer credit risk assessments, reviewing available credit insurance levels & exposure and proposing appropriate terms/mitigation strategies


Project maintenance

- Validate initial project budget and set up in ERP (e.g. revenue basis) on award. Oversee changes in project status in ERP


Project performance review

- Attend & input to weekly & monthly project/branch weekly financial summaries including presentation to senior management

- Analyse, investigate and explain variances to plan

- Validate weekly revenue in line with Keller policy including reconciliation to production and project manager adjustments

- Support project managers as applicable in identifying & tracking change opportunities

- Monitor/ensure completeness & accuracy of project cost (GRNI, materials, labour, equipment, expenses) including cost accruals and loss provisions

- Support project managers in ensuring quality & phasing of end forecast revenue and costs

- Monitor weekly project dashboard performance

- Accurate reporting of work in hand


Business Budgeting & forecasting

- Support project managers & branch management in preparing branch/office budgets, quarterly forecasts (and one month look forward).

- Accurate reporting of work in hand


Cash & working capital

- Monitor aged unbilled revenue, change proposals and aged/overdue cash & retentions & escalate with project managers, customers, legal team & credit insurers as required

- Assist in cash allocation for customer receipts

- Oversee periodic inventory and asset counts

- Prepare/input to weekly cash forecasts

- Support billing process such as preparing customer applications and invoices

- Coordinate, monitor and chase issuance & collection of outstanding bonds


Process discipline

- Monitor supplier invoices on hold and oversee clearance by the shared service centre / operating business

- Drive process discipline - e.g. adherence to group standards and internal controls, purchase order compliance, timely receipting, billing, forecasting


Joint Venture & Consortium accounting

- Manage JV set up and ensure compliance with reporting requirements

- Preparation of JV recharges and billing


Indirect costs

- Monitor indirect costs including equipment and labour utilisation and over/under recovery vs target


Customer

- The role will collaborate closely with project managers & site teams, procurement, finance shared services and senior branch leadership to ensure effective financial control, project forecasting and reporting, understand variances to plan and provide support to decision-making across the entire project life cycle from bidding to close-out



About you

You will come from a project-based, commercially driven finance role with a strong background in cost management.


You will ideally be a qualified accountant, however individuals with strong experience in essential areas will be welcomed to apply.


Strong commercial acumen

Challenge and influence where required

Strong analytical skills with ability to identify trends, interpret and explain complexity, identifying opportunities for improvement

Proven experience in construction project-based accounting, including tracking and managing project costs, revenue recognition, WIP and milestone billing

Effective communicator and strong interpersonal skills with ability to articulate financial information to project managers and other stakeholders

Problem solving - pro actively approach to identifying challenges & proposing solutions

Strong organisational, time management and presentation skills

Resilience - can prioritise tasks effectively and can work to deadlines under pressure.

Ability to manage a range of tasks across multiple stakeholders

Collaborative - team player and works effectively with project and operational teams

Flexibility - adapts to changes in business priorities, project environment and accounting next practice

Proficient in using ERP solutions

Strong Excel and analytical skills

Why join this organisation?


With an impressive global reach, this organisation offers excellent career progression opportunities for the right candidate.


You can expect:


Salary up to £65,000 depending on experience

Pension matched to 7%

26 days + statutory holiday

1 day p/w working from home, with some flexibility around working hours

Various other benefits in line with a company of this size (high street discounts etc)

Maximum notice periods considered are 3 months, with ideal candidates able to start sooner.


For more information and to express interest in the role, please submit your CV or contact Aj Blyth / Kerry Newham at SF Recruitment.


Please note that full eligibility to work in the UK is required for this role, and visa sponsorship cannot be provided.


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