Job Description

Our client is one of the first names on any team sheet for global electrical businesses in both the UK and the world. With UK revenue at £10 billion and still growing, and it's UK workforce alone at 12,000, they are well-positioned both economically and structurally to deal with the current pandemic - and still grow. With an emphasis on electrical, automation and rail, they are now seeking a part-qualified ACCA or CIMA Project Accountant for an interim project role for 6 months, or longer.

This Project Accountant role is essentially centred on financial and management accounting within the Project Delivery function, based in their Coventry offices and finance department - for an interim period of 6 months, possibly longer, seeking specifically part-qualified ACCA or CIMA with current or recent project accounting experience. Candidates with notice longer than 1 week will unfortunately not be considered.

Core responsibilities;

• Undertake a handover from the Tendering and Estimating team of the financial elements of a successful bid, including the baseline value and budget, CBS and baseline Project delivery Report and full set up in the SAP system.
• Project Forecasting and Reporting
• Review and analyse project actual and forecast spend to support Work Package Managers (WPM) and the Project Manager (PM) in the financial control and forecasting of their budgets
• Analyse new project forecasts, developing a view on robustness, timing, risk and opportunity. Review and, if necessary, challenge with both WPM and PM before finalising .
• Ensuring all change is properly incorporated in cost and value, including approvals for submitting contract variations and including un-agreed variations in forecast final value.
• Maintain for each project the P&L, balance sheet, order book and cashflow on behalf of the PM
• Working with other parts of the project team as necessary eg Commercial function, prepare project reporting to the client where required
• Ensure all project audit requirements are dealt with in a timely and professional manner.

Functional Reporting and Forecasting

• Ensure all project reports and forecasts are submitted to Central Finance on time, accurate, understood and approved, where necessary
• Provide meaningful supporting commentary where required on variance analysis
• Act as the independent conscience of the project ensuring the integrity of the financial status and forecast, escalating issues or concerns where necessary.

Month End

• Review and amend, where necessary, project accruals related to internal and agency staff, materials and major subcontractors.
• Ensure the correct trading margin % and verify the traded position
• Provide commentary on traded position and financial status/movement where necessary

Accounts Receivable

• Manage or support the setup, submission and processing of Payment Applications, certificates and invoices, including all postings to the ledger.
• Actively monitor the payment cycle ensuring any required actions are taken to maximize the cash position, chasing payments with supplier where necessary
• If dealing with cost reimbursable contracts, ensure timely and accurate provision of all supporting information to enable issuing, approval and payment of project milestones in a timely manner.

Other Responsibilities

• Maintenance of the project and CBS within the SAP Project Ledger
• Compliance with all Group accounting policies, but in particular with the long term contract accounting policy.

• Cost Accountant seen as a key partner and team player by PM and WPM’s
• All budgets and forecasts, together with key risks, issues and opportunities, are owned, approved and understood by all appropriate parties.
• All submissions are accurate, on time and meaningful

Candidate Requirements

• Part qualified ACCA or CIMA accountant with recent accountancy work experience - ideally project accounting in a mid-large zied organisation
• Strong communicator with the ability to challenge and influence others
• Desire and ability to work closely and develop productive relationships with both finance staff and other project functions.
• Strong organisational/planning skills
• Advanced Excel skills

• Relevant contract/project accounting experience
• A high level understanding or core contract terms and conditions which have a financial aspect
• Candidates must reside in or local to Coventry and be either immediately available or on 1 weeks' notice maximum

Required skills

• ACCA
• CIMA
• Financial Reporting
• Part Qualified
• Project Accounting

Required Knowledge, Skills, and Abilities