Job Description
Key Responsibilities:
Budgeting & Forecasting: Develop and manage the annual budget process for the construction company, including revenue, costs, and capital expenditures. Prepare monthly, quarterly, and annual forecasts based on project progress and market trends. Track variances between the budget and actual financial performance and provide explanations and insights.
Financial Analysis: Analyze project profitability, costs, budgets, and cash flow, providing detailed reports on financial performance. Monitor key performance indicators (KPIs) and provide insights on how the company can optimize performance. Conduct scenario planning and sensitivity analysis to assess potential risks and opportunities.
Project Financial Management: Work with project managers to review project budgets, monitor progress, and ensure cost control. Ensure compliance with contractual terms, payment schedules, and project milestones in coordination with the project management team.
Financial Reporting: Prepare and present financial reports to senior management, including variance analysis and recommendations. Oversee the preparation of financial statements, ensuring compliance with accounting standards and company policies. Collaborate with external auditors and regulatory authorities to ensure accurate and compliant reporting.
Cash Flow Management: Monitor and forecast cash flows for ongoing projects to ensure the company maintains sufficient liquidity. Manage financing needs, including liaising with banks or other financial institutions for project funding.
Cost Control: Implement cost-saving strategies and improve processes to enhance financial efficiency. Monitor direct and indirect costs associated with construction projects, providing recommendations for cost management.
Collaboration & Communication: Act as the finance business partner for various departments including construction, procurement, and asset management. Support senior management in strategic decision-making by providing financial insights and analysis. Work closely with the accounting team to ensure accurate recording of financial transactions and project costs.
