Job Description

The Project Finance Specialist is responsible for supporting Project Teams to deliver financially successful projects. The Project Finance Specialist will provide financial and operational support of a Project Portfolio, driving project financial performance and ensuring that project financial compliance is met.

Responsibilities

Project Finance

Proactively Provide efficient and accurate Project Accounting services on a day-to-day basis on small - medium projects; working on a portfolio of projects (varying number of projects of different values at any given point in time)
For assigned project(s), monitor and analyse the collection, recording, and allocating of project costs, ensuring accurate project revenue recognition calculations, and communicating project financial performance and profitability to stakeholders
Responsible for project lifecycle accounting in the ERP, tracking budgets to costs, validating invoicing, project close-out, and reconciling overall project payables and receivables to project budgets; own the action for any labour or expense transfers
Partner with the Project Manager and project team to establish the project budget, updating budgets, and making project accounting recommendations as needed when contract modifications or budget changes arise (including LGL-05 compliance)
Assist with subcontractor set-ups in UBW, subcontractor agreements and raising requisitions/POs in the ERP, sound knowledge of subcontractor policy and WSP's standard subcontractor/sub consultancy agreements; work closely with Procurement team. This includes evaluating subconsultant invoice submittals for accuracy.
Prepare project billing and initiate invoicing requests with the GSS team; maintain billing information to ensure correct submission of invoices and follow up with project team/client/WSP AR on late payments; adopt 3rd party portals where required
Monitor key indicators and proactively assist in resolving project exceptions in a timely manner to keep project impacts minimal; escalate issues or concerns early to the Project Accounting Team Manager
Verify contract and change order characteristics for projects that are small-medium-sized and/or of a moderate-level of complexity, including reading and interpreting contract language, billing requirements, modifications, purchase orders, and subcontract/consultant terms
Contribute to the sound financial management of projects by working as an active partner to project managers
Be conversant with the operation of the ERP as applied to project accounting with the ability to explain reports and processes to the Project Manager
Be aware of the principles of the project management life cycle and the financial implications throughout
Validate margin impact and financial impact calculations, with the ability to articulate the calculations to non-financial and financial stakeholders; provide support in identifying reasons for variability in project margins
Perform additional responsibilities as required by business needs

Reporting and Analysis

Utilise existing financial to produce (internal and/or external) reports on a regular basis, analyse reports to monitor actual expenditure vs. approved budgets; highlight any variances/issues to Project Managers and Commercial to assist in minimising financial risk to the business
Investigate any variances or issues that may arise on a project and resolve with relevant support from other business sections (e.g. working closely with AP, AR, Procurement, HR and Payroll, Financial Systems group)
Attend and/or co-ordinate project-related meetings to inform the team regarding the current status of project financials, articulating problem projects and following up on any identified actions as discussed
Create and submit Government, client or panel reports related to projects

Compliance and Control

Ensure the project accounting and administrative setup is in accordance with revenue recognition policy, Delegation of Authority and compliant with SOX 52-109
Ensure Project data is accurate in UBW, including budgets, project credentials and WBS structure. Ensure checks are in place for data integrity
Assist with internal and external audits, e.g. collate documentation within required timeframes
Adhere to the Project Accounting guidelines and other processes and procedures implemented across the Project Finance team

Training and Development

Complete relevant and mandatory training
Knowledge of IMS and WSP procedures and policies to educate self and others
Remain current in latest project accounting principles and subject matter
Complete WSP Way Project Manager Certification – Level 1

Qualifications

Tertiary degree in relevant field preferable (commerce, accounting, finance, business administration)
At least 3 - 5 years experience within Project Finance, including maintaining financial data in an ERP
Ability to utilise spreadsheets and create pivot tables, formulas, data format/sort/filter, VLOOKUP, SUMIFS
Working knowledge of project accounting principles, practices, and methods and their application to project work-related issues.
Analytical mindset with an ability to exercise sound independent judgement in evaluating situations and making decisions with financial implications to the company
Effective interpersonal and communication skills when interacting with others, expressing ideas effectively and professionally to a financial and non-financial audience
Ability to learn new techniques, perform multiple tasks simultaneously, follow instruction, work independently, and comply with company policies
Effective self-leadership with attention to detail, results orientation, and managing multiple priorities in a dynamic work environment
Ability to productively work with remote teams and build strong relationships with line manager, PFS's, Project Managers and Commercial
Critical thinking and problem-solving skills required to apply learned subject matter and technical knowledge to reach conclusions from data collation, documentation, statistical analysis, and arriving at the most effective, economical, and logical solution