Project Financial Manager

Project Financial Manager Role

• This position is responsible for ensuring the financial management of projects from initiation to completion. Key responsibilities include preparing project budgets, annual/quarterly/monthly planning and rolling forecasts.
• The successful candidate will take accountability for project invoicing, tax issues, bonds, and guarantees, as well as financial accounting and reporting. They will also drive and seek optimization of project cash flow, revenues, and general manager contribution in collaboration with the Central Cost Controller/Project Manager.
• Additionally, this role involves identifying opportunities and risks, ensuring timely mitigation actions are implemented, and participating in monthly project reviews jointly with the PM/Central Controller/PSCM. The individual will be responsible for reviewing and having joint responsibility for all financial aspects of the project, including estimate at completion and related cost-to-complete, forecasted revenues and cash flow, risk, and opportunity assessments, and ensure alignment with other functions, including Project Controls, planning/scheduling.
• The successful candidate will promote commercial awareness in the project team and provide commercial input to the project execution plan.
• The core values of safety and integrity must be lived by taking responsibility for one's own actions while caring for colleagues and the business.
• Coordination with clients for approval on invoices, getting payments, and various forms for compliance purposes is required.
• Maintaining an updated billing register capturing details of all billings till date, status on approval, payment, various deductions with categories and reasons, follow-up to collect the amounts deducted is a key responsibility.
• Stringent monitoring and control on site expenses, weekly reporting of project expenses in a specified format, and reconciliation of SAP entries with invoices are necessary.
• Analysis on actual vs. budget costs and revenue on the project, highlighting potential issues to the controller manager and project managers is required.
• Leading the activity of project actualization (actua) at HO defined frequency, coordinating with the project team to get the required data, discussing with the controller manager to prepare finance-related slides in actua presentations, uploading the actua in SAP post-approval from required people, is a critical task.
• Reviewing kappa against the budgeted costs and highlighting in case of costs exceeding the budget, checking that adequate documents (quotations, budget sheets, comparative information, billing values, required authorizations, reasoning for deviations from minimum quotations, budget overruns, non-lowest offer, non-compliance with payment terms) are attached with the kappa is essential.
• Sharing project slides for monthly business review in accordance with the timeline defined by the project team, keeping the controller manager in the loop, is necessary.
• A comprehensive check on provisions to ensure that provisions are accurate, complete for monthly closing, and in line with accounting rules and HO instructions is required.
• Monthly cash verification and surprise verification at least once a month, reporting results to the HO team (controller manager and IFC team), is essential.
• Leading and supervising compliance on Internal Financial Controls (IFC) as defined by HO in the Risk and Control Matrix (RCM) is crucial.
• Monitoring ABG, PBG, any other guarantees, insurances to ensure they are timely renewed, reduced as per contractual conditions is required.
• Compliance with tax regulations is necessary.
• Providing all required support to the execution team and being an integral part of the project team, becoming a core finance support to the team for all finance-related matters on-site, anticipating issues, discussing with the controller manager, and taking proactive actions to resolve issues is essential.
• Timely filling of man days for self against respective projects is required.
• Checking that timesheets of staff working on their project are filled timely and properly is necessary.
• Supervising the day-to-day work of site accountants, providing guidance, and support for efficient conduct of site tasks is essential.
• Supporting the central controlling team on various analysis and ad-hoc requests is necessary.

Key Skills:

• Excellent Interpersonal skills.
• Well-versed with Microsoft PowerPoint and Excel.
• Strong follow-up skills.
• Go-getter approach.
• Basic knowledge of SAP.
• High sense of responsibility, commitment, and effective communication.

Educational Qualification:

MBA Finance / CA-Inter / ICWA

Work Experience:

Total experience of 6 to 10 years.