Project Accountant Ii

ref. BUS-CO-15742105 Job Description - Project Accountant II (BOG00QE)
Company : Worley
Primary Location Job Job : Project Accounting
Schedule Schedule : Full-time
Employment Type : Employee
Job Level : Experienced
Job Posting Job Posting : Jan 7, 2024
Unposting Date Unposting Date : Mar 8, 2024
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Building on our past. Ready for the future? Worley is a global professional services company of energy, chemicals and resources experts headquartered in Australia.?
Right now, we're bridging two worlds as we accelerate to more sustainable energy sources, while helping our customers provide the energy, chemicals and resources that society needs now.?
We partner with our customers to deliver projects and create value over the life of their portfolio of assets. We solve complex problems by finding integrated data-centric solutions from the first stages of consulting and engineering to installation and commissioning, to the last stages of decommissioning and remediation. Join us and help drive innovation and sustainability in our projects. 
The role is at Senior level. The duties will focus on intermediate projects and with medium complexity.
FUNCTIONS
PROJECT INITIATION · Accountable for the financial implications of the set up and maintenance of projects in the business system in accordance with accounting policies, pricing schedules, customer details, payment plans, invoicing calendars, and multicurrency billing.
· Interprets contract terms and conditions and ensures that the commercial terms are built into the project set ups to maximize profitability.
· Ensures that projects are financially closed once work completed and working capital collected.
CASH MANAGEMENT · Works with Billing Coordinators to ensure an invoicing plan is in plan to maximize DSO for projects.
· Reviews DSO reports and assists in the development of corrective action plans.
· Works directly with Billing Coordinators and/or customers to ensure invoices have been received, approved, and actioned.
· Provides regular invoice status updates to Project Managers.
· Provide input into the cash forecast to ensure accuracy and appropriate challenge to expedite cash collection.
· Reviews WIP/ AR reports with Project Managers to ensure timely billing and collection.
· Attest / review project transaction documents and accounts for accuracy and completeness, including sub-charges, data sheets, time reports, expenses, subcontractor invoices, etc.
· Works with Billing Coordinators in the production of customer invoices, credit notes, and back up documentation.
· Ensures billings do not exceed approved budget limits and works with Project Managers and Project Controls to resolve issues.
· Drives timely recording of 3rd party invoices.
REPORTING/ANALYSIS · Ensure processes in place to enable accurate weekly revenue recognition
· Weekly review of margins, WIP, Debtor and cash flow.
· Ensure intercompany payables or receivables reconciled with counterpart and ensure prompt payment and received.
· Link between Accounts payable and project for coding of invoices, ensuring that missing/expected invoices are accrued for/accounted timely.
· Create and validate forecast/Budget for chargeable hours, sell/cost rates, resulting margin and ensure target is reasonable.
· Produces and analyzes trend and variance reports as needed.
· Gathers project accruals and provision information as needed in line with IFRS
· Ensures for lump sum projects, that revenue recognition is as per IFRS with full support of calculations and assumptions used.
· Owns the accuracy of financial data as reported in monthly MPRD's through collaboration with Projects team.
· Works closely with Project Controls and Finance Analysts to produce monthly reports and estimates.
· Works closely with project operations, controls and billing coordinators to improve project administration processes and effectiveness.
COMMERCIAL SUPPORT · Identifies areas of potential project gross margin improvement; ensures accurate recovery of all costs as defined in the contract and ensures non-billable costs are minimized.
· Interprets commercial terms and conditions, including Foreign Exchange, tax, credit, and system implications on bids and tenders to ensure accurate and timely costing and revenue recognition.
· Ensures commercial summary in place for each contract as part of handover process from successful bid to execution.
· Works closely with Project Managers and Project Controls, and participates in monthly project reviews to challenge the financial and commercial health of projects.
· Ensures project profitability is maximized for the project.
· Ensures contractual and joint venture operating agreement compliance and participates in audits and resolution activities.
· Ensure that DOA is adhered to for any write off of time, expenses or invoices, non-billable time is approved per DOA, request for continuance of work where required
· Complete working papers to capture use, accrual and draw down of contingencies; complete working papers to address how we will account for project incentives.
BUSINESS PARTNERSHIP · Day to day finance business partner to the project management team and representative of Finance function to them
· Participates in processes that enable the project team to effectively manage its costs. Identifies and implements specific cost reductions and/or leakages.
Professional:
· Diploma in Accounting with a minimum of 6 years experience in a project accounting or project billing function or;
· Working towards CMA, CGA or CA designation
· Familiar with ERP and BI environments, specifically Oracle and Hyperion a plus
· Advanced Excel skills
Moving forward together? We want our people to be energized and empowered to drive sustainable impact. So, our focus is on a values-inspired culture that unlocks brilliance through belonging, connection and innovation.?
We're building a diverse, inclusive and respectful workplace. Creating a space where everyone feels they belong, can be themselves, and are heard.?
And we're not just talking about it; we're doing it. We're reskilling our people, leveraging transferable skills, and supporting the transition of our workforce to become experts in today's low carbon energy infrastructure and technology.?
Whatever your ambition, there's a path for you here. And there's no barrier to your potential career success. Join us to broaden your horizons, explore diverse opportunities, and be part of delivering sustainable change.
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