Job Information
WSP USA Project Finance Specialist in Pasig City, Philippines
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.
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 accurateproject 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, andreconciling 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 projectaccounting 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, soundknowledge of subcontractor policy and WSP’s standard subcontractor/sub consultancy agreements; workclosely 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 correctsubmission 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 impactsminimal; 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 ofcomplexity, 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 andprocesses 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 andfinancial 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 actualexpenditure 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 businesssections (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 ofAuthority and compliant with SOX 52-109
Ensure Project data is accurate in UBW, including budgets, project credentials and WBS structure. Ensure checks are inplace 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
Tertiary degree in relevant field preferable (commerce, accounting, finance, business administration)
At least 2+ 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-relatedissues.
Analytical mindset with an ability to exercise sound independent judgement in evaluating situations and making decisionswith financial implications to the company
Effective interpersonal and communication skills when interacting with others, expressing ideas effectively andprofessionally to a financial and non-financial audience
Ability to learn new techniques, perform multiple tasks simultaneously, follow instruction, work independently, andcomply with company policies
Effective self-leadership with attention to detail, results orientation, and managing multiple priorities in a dynamic workenvironment
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 reachconclusions from data collation, documentation, statistical analysis, and arriving at the most effective, economical, and logical solution