Project Financial Controller

Job Title & Purpose

Purpose of the Job:

• Preparation of Project Financial Summary with complete cost, revenue, gross margin, risk and risk mitigation details on a fortnightly basis and highlighting the risks and variances to the senior management

Position in the Organization

Mission

Objectives and Responsibility:

Nature of Projects.

• Projects relating Renovation and Modernization of power plants situated throughout India which includes State Electricity Board and other major power manufacturers including Captive Power manufacturers
• Independently responsible for the financial performance of the project handled.
• Value of projects may range from Rs 50 Crores to Rs 400 Crores.
• Projects may range from 2 years to 4 years depending on the size.

Compulsory Job requirements.

• In-depth knowledge on project accounting as per Indian Accounting Standards issued by ICAI.
• Sound knowledge on Revenue recognition.
• Preparation of Project Financial Summary with complete cost, revenue, gross margin, risk and risk mitigation details on a fortnightly basis and highlighting the risks and variances to the senior management. Focus is on risk. Must be very strong in Cost Sheet analysis.
• Ability to raise red flag in the beginning itself in case surprises are likely in the project.
• Ability to closely monitoring cost and to install controls to prevent cost overrun.
• Ability to negotiate with vendors in terms of tax and reduction in prices of material / services leading to cost saving and improvement in gross margin.
• Cash flow planning and to ensure all costs are booked as per the cash forecast and reporting on variances if any.
• Raising of Manual invoices for revenue including complying with the terms and conditions defined in the contract. Invoices to be sent to site with complete accompanying documents with the main invoice.
• Ensuring all Sales Tax laws, Service Tax rules are compiled while generating Sales Invoice.
• Preparation of Way bill for entry of material into a State.
• Following up with the Site and the customer for early realization of collections. Overdue collections need to be monitored tightly and to be reported to senior management periodically.
• Direct interactions with Vendors with respect to reconciliations issues.
• 13. Manual booking of vendor invoices and its subsequent payments to vendors in line with the respective contracts.
• Bank entries for both collection and payments.
• Knowledge of Bank Guarantees.
• Knowledge about operation of inland and foreign LCs.
• Working knowledge in imports of material and its accounting.
• Estimating and monitoring correct provisions in the books of accounts.
• Having thorough knowledge in the Statutory Audit relating to project accounting.
• Reasonable knowledge in Ind-AS.
• Monthly manual reconciliation of Vendors and monitoring of unadjusted advances.
• Monthly reconciliation of customers and monitoring the overdues and reporting to the senior management on a periodical basis.
• Closely working with Site personnel and to attend to all their requirements like Imprest, Advances etc.
• To closely follow the Delegation of Powers issued by the Management.
• To work closely with the Internal Auditor and to close all internal audit points.

Job Requirements

Knowledge and Experience :

• 7-8Yrs

Competencies

Technical Skills:

• ERP skills and MS excel

Behavioral Skills

• Good English speaking / writing skills
• Ability to be flexible in terms of working. Must be a team player
• Positive and proactive and must be quick in adjusting to new environment

Terms & conditions

Job Location / Mobility Requirements

• Noida