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Project Accountant

  • Location

    Crawley, West Sussex

  • Sector:

    Finance

  • Job type:

    Contract

  • Salary:

    Up to £33.50 per hour

  • Contact:

    Vicky Turner

  • Contact email:

    vicky.turner@morson.com

  • Job ref:

    168593VIT_1570096112

  • Published:

    18 days ago

  • Duration:

    5 Months

  • Expiry date:

    2019-10-10

  • Start date:

    21/10/19

  • Client:

    #

Project Accountant; Crawley; £33.50/hr PAYE or £327/day LTD; Contract 5 months

The Project Accountant is responsible for supporting the business activities on a portfolio of projects within allocated business areas for our client based in Crawley

The role would vary depending on the complexity of projects, size of projects and size of overall portfolio of projects. The generic purpose of the role is to ensure a strong financial control on projects covering the control of costs (actual costs, ETC, EAC, cost variances and their root causes, risk allocation and movement in provisions), correct revenue generation in line with Thales accounting rules and IFRS 15, project management, correct set up of project budgets as baseline. Act as a member of the project delivery team and provide financial support to the Project Managers on a day to day basis

Control & monitoring of project expenditure and delivery on assigned projects
Understanding the project budgets
Supporting Project Managers to understand actual costs incurred
Supporting Project Managers in preparing latest estimates to complete (ETC) and estimates at completion (EAC) for projects
Investigate and explain variances to budgets (costs; revenues; cash flows)
Monitoring and reporting on the level of risk held within Projects and risk evolution.
Ensure project team(s) understand how schedule slippage impacts costs, delivery of milestones (revenues; cash)
Understand of project customer contracts and Ts&Cs; assess impact of these on project(s) and on any deviations within projects
Ensure financial integrity in the preparation and delivery of new Bids
Supporting the Financial Controller in preparation of annual budgets (MYB); SBP and forecasts
Support and mentor other Project Accountant colleagues (Senior Project Accountants)

Principal Relationships

Project Managers and wider project teams
Business Financial Controllers and Domain FDs
Business (Sector) Leads
Bid Managers and wider Bid teams
Domain and Finance reporting team(s)
UK Corporate and GBU Finance team(s)

Key Responsibilities and Accountabilities:
The Project Accountant is responsible and accountable for:

Liaise with all functions within the business to ensure a successful delivery of projects:

Correct set up of Project Accounts within the ERP system and any support systems at inception of each project; including correct allocation of Cost Baseline Budgets, Margins, Revenue and cash plans in line with approvals.

Agree with Financial Controllers relevant Group accounting standards and principles applicable to each project.

Design accurate sales taking plan for each project in line with project schedule and customer contracted deliverables and IFRS 15 rules.

Report to Project Teams and to the business revenue & cash milestones; budgeted and forecast dates; anticipate and report risks that might create delay to these milestones; propose corrective actions to assist the project team to complete on time.

Prepare accurate project cash inflows and outflows;

Work closely with the Project Control function to ensure all costs are correctly and accurately captured in the project PRIMAVERA tool.

Monitor monthly actual costs and investigate and rectify any discrepancies on time for Project Management Reviews (PMRs).

Review supplier requisitions; ensure requisitions and Purchase Orders are in line with project budgets and correctly reported.

Attend Work Package reviews monthly; ensure estimated cost to go is in line with project schedule and challenge any deviations to cost budget baselines or where cost to go does not support project schedule. Ensure Costs to Go, actual costs and EAC are correctly and accurately reported in EAC sheets and project dashboard CSRs.

Understand risks on projects and proposed mitigation actions; ensure risks are correctly reported and controlled.

Analysis of variance are documented and reported.

Understand opportunities on projects; encourage the project teams to highlight opportunities. Assist in quantifying and correct reporting of identified opportunities.

Prepare each month project dashboard CSR with relevant comments and robust explanation of the project financial position incl. any deviations on budgets.

Complete accurately other parts of project dashboard such as revenue and cash graphs; EAC evolution and support with robust commentary.

Present the financial status of project at monthly PMRs.

Ensure each project goes through an EAC review at least on a quarterly basis and advise to management if project EAC should be reviewed more frequently.

Produce in a timely and accurate fashion monthly financial figures and reports for allocated projects. Ensure ERP system and TM1 are correct and up to date.

Correct accounting and reporting for projects subject to SSRO rules, including timely and accurate submission of reports to customer and on system. Ensuring correct rates are used at all times and costs correctly presented.

Submitting correct consolidation data of projects under IFRS 15 to GBU through ANAPLAN tool.

Prepare accurate budgets and forecasts for allocated projects and prospects portfolios; support the Business Financial Controllers in all month end activities, forecast activities and budget activities. Ensure data is available on time.

Prepare required monthly, quarterly, budget schedules with appropriate commentaries to allow smooth consolidation on domain and CBU level.

Involvement in bid process, ensuring financial integrity and adherence to process (Chorus 2.0) and within the business delegated authority mandates. Provide advice, guidance, and assurance through robust reviews.

Manage foreign currency on projects and bids.

Accurate and timely preparation and presentation of Project Financial Data to Auditors (both External and Internal)

Support the Business Financial Controllers and the Finance Director during ad-hoc tasks and activities.

Morson is acting as a recruitment business in relation to this vacancy