Lead Project Finance Controller

Job Description SummaryThe Lead Project Finance Controller has overall responsibility for all reporting and controlling requirements of project portfolio including HVDC refurbishment projects. Responsible for proper consolidation of Project results and for a comprehensive communication to secure consistent accounting and reporting of the Project in terms of detailed scope and responsibilities. Responsible for driving technical accounting compliance, financial and operational internal controls, process simplification, and operational excellence to deliver accurate actual financial reporting and analysis. Has in-depth knowledge of best practices and how own area integrates with others

Job Description

Roles and Responsibilities

• Manage the controllership and financial reporting of projects in accordance with internal control rules. Ensure project accounting is in accordance with Company guidelines; define milestone and liaise with accounting for revenue recognition. Organize the project reviews from start to the end of each contract. Ensure consistency with project teams. Analyze the execution performance and propose action plans to improve contract margin and cash profile as well as corrective action plans to mitigate identified risks
• Accountable for all financials on the project after tender phase (from contract award date to project close-out / Final Acceptance Certificate)
• Always have full knowledge of all financial movements with regards to revenue, margin and cash. Ensure that such information is consistent, approved and reconciled on a regular basis in the ERP systems.
• Ensure global view of consolidated financials of the project, understand each partners’ financial movements.
• With the Project Director/Project Manager, defile the billing plan (invoice and progress payments) at the project start and the revenue recognition plan as per data provided by cost controller. Consolidate, validate, forecast trading and billing milestones to ensure consistent consolidated revenue recognition and cash.
• Invoice customer through issuance of invoice in ERP system
• Ensure accurate foreign exchange coverage throughout the project life
• Check, control and monitor movements in actual and committed costs, ask for corrections when necessary. Reassessment of Costs to Complete in under control along with cost controller.
• Manage and forecast cash movements monthly. Track cash-in overdue status, give alert and ensure that follow-up action plan is taking place.
• Provide inputs for claim valuation to project team, legal and contract management team.
• Provide all necessary support to project director/project manager on project financial issues.
• Provide all required information to external and internal auditors / controllership team.
• Responsible for timely and correct booking (BBV, current as Sold) for order booking to project completion.
• Ensure that project data reporting is in line between the ERP and the approved project reviews in Unifier according to deviation approved.
• Prepare and participate in cash sessions, identification of invoice triggering events, invoice format, steps for invoice generation until payment, preparation of cash application.
• Active participation in billing and revenue forecast whenever required
• Develop strong relationships and continuous communication flows with all project controllers in project participating units to ensure that working assumptions shared, consistent and reported in a timely manner.
• Implement the controlling tools used within the reporting unit.
• Ensure that all finance processes, instructions, internal controls including DOA, Golden Management Rules are implemented.
• Ownership of timely invoicing with documentation and cash collection on the project.
• Accurate, timely production and consolidation of project financial statements as well as reporting in the ERP system.
• Transparency and accuracy of project margin
• Coordinate and effectively manage all internal financial interfaces on the project such as participating units

Required Qualifications

• At least 5-6 years of experience in a similar capacity, preferably in a projects business
• Qualified accountant, CA / CFA / CS / CMA / Graduate / B Com
• Experience of accounting in a project environment
• Strong Analytical Skills
• Good Communication and influencing skills
• Strong excel skills required
• Knowledge of an ERP system, strong preference for SAP
• Fluency in English is essential

Desired Characteristics

• Strong accounting background and operationally inclined in projects industry
• Agile and eager to learn
• Transparent : shares critical information, speaks with candor, contributes constructively
• Focused : quick learner, strategically prioritizes work, committed
• Problem solver : analytically minded, challenges existing processes, critical thinker
• Integrity : accepting and adhering to high morals, ethical and personal values in decisions, communications, actions and when dealing with others

Additional Information