Job Description

The purpose of the role is to monitor financial performance within the division at a project level. Monitoring cost and revenue allocation to projects in line with appropriate recognition criteria. He/she will work directly with Project Managers, Bid Managers, and Divisional Directors to support them in delivering projects on time and within budget by providing timeous financial reports on projects. Provide Commercial /Financial sign off to confirm accuracy and compliance with process and policy. Actively strive to reduce DSO and ensure financial governance within Project Accounting.

The incumbent would ideally have had significant experience in all or some of the requirements as noted below which are core to our business.

Contract Administration

• Project set up within BWO, maintenance, and reporting
• Project closure within BWO for inactive/dormant or completed projects
• Ensure that each project is managed in accordance with signed contracts
• Open prospects in BWO according to prescribed policies and procedures
• Covert prospects to project in BWO according to prescribed policies and procedures
• Assist Project Managers with bottoms up costing analysis
• Ensure all project standing data is accurately maintained

Cost Control

• Analyse all project costs, ensuring the correct allocation of such costs, taking action to correct any misallocated items
• Work with Project Managers in updating “cost to complete tool” on all projects within every quarterly cycle
• Cost to Complete tool to be administered and reviewed at minimum weekly and corrective actions taken timeously
• Develop robust project financial projection in conjunction with the Project Manager for each period end, as well as for annual budgets and quarterly forecasts on Project level
• Ensure monthly project overview summaries for all projects are compiled and reviewed within each division
• Monitoring project financial performance against budget and identify potential variation orders and scope creep
• Review cost/revenue variations on projects and report reasons for change
• Perform variance analysis of actual performance against budget/forecast and provide business reasons for variances

Planning And Schedule Control

• Preparation of Schedule and Work Breakdown Structure (WBS) in BWO in line with Project Managers' project plan, contract and system requirements
• Assist in preparation of financial forecasts for bids

Billings And Collections

• Track and account for unbilled costs
• Ensure accruals correctly accounted for on a monthly basis
• Ensure up to date billing/invoicing schedules maintained on the ERP system and liaises closely with debtors clerk
• Monitor cash flow and expedite aged debt directly with debtors control
• Confer with Receivables staff regarding unpaid contract billings
• Liaise with Credit Manager on preparation of Bad debt summary
• Actively monitor and co-ordinate efforts to reduce DSO within the business area

Timesheets And Payroll

• Updating labour rates
• Drive a disciplined and efficient timesheet orientated culture within BU's
• Collation of payroll information with respect to expense claims etc.
• Preparation of weekly utilisation reports

Reporting

Regular reporting to Project Managers and Management Accountants, including but not limited to:

• Using PFT, understand the BU's performance in the month against forecast and budget and provide insight into performance drivers, including action items necessary to close out the month
• Analyse PFT to report on projects with changing revenue/cost budgets and changing multipliers Analyse utilisation dashboard and investigate material variances to budget or forecast
• Perform detailed review of backlog/work in hand numbers and be able to explain backlog drivers and reasons for movement month on month
• Update of WIP schedule each period
• Monitor and report on projects with a high level of WIP
• Analyse project profitability reports with Project Managers timeously
• Co-ordination of in-month review data from Project Managers
• Ensure IDA's and VO's are properly accounted for

Quality

• Ensure compliance with Business Management System through the life cycle of the project
• Internal project audit
• Provide details for external audit

Health and Safety:

• Role model standards for SHEQ performance and behaviour consistent with the company's health, safety, environmental and quality vision and policies by influencing those around you.
• Contributing to the identification of SHEQ risks and driving processes to achieve Zero Harm
• Embracing, displaying and promoting the company values and ensuring a safe working environment is maintained at all times.