Accounts & Commercial Manager-EPC Projects Division

Role & responsibilities

Position Title: Accounts Manager-EPC Projects Division
Department: Finance / Accounting
Reports To: CFO Location: Mumbai
Job Type: Full-Time, Permanent

Position Summary:

The Project Accounts Manager is responsible for managing the financial aspects of projects, ensuring accurate tracking, reporting, and control of project-related financial transactions. This role involves working closely with project managers, finance teams, and other stakeholders to ensure that project budgets are adhered to, costs are monitored, and financial reports are generated in compliance with accounting standards and organizational policies.

Key Responsibilities:

1. Project Budgeting & Financial Planning:
• Preparation of project budgets,financial forecasts, and cost estimates.
• Monitor and track project expenses against the approved budget, identifying variances and reporting them promptly to management.
• Ensure proper allocation of costs to relevant project codes.
2. Invoicing & Payment Management:
• Prepare and issue project-related invoices to clients or stakeholders based on agreed terms.
• Coordinate with the finance team to ensure timely payments to vendors and subcontractors.
• Maintain records of payments, receipts, and transactions related to each project.
3. Cost Monitoring & Reporting:
• Track project costs and identify cost overruns or savings, providing regular updates to project managers and senior management.
• Prepare and submit periodic financial reports related to project performance, including profit and loss statements, cost analysis, and project expenditure reports.
• Maintain accurate records of project-related financial documents, ensuring transparency and accountability.
4. Reconciliation & Compliance:
• Reconcile project accounts to ensure all transactions are accurately recorded.
• Ensure compliance with internal financial controls, accounting principles, and regulatory requirements.
• Liaise with auditors to provide necessary documentation during internal or external audits.
5. Cash Flow Management:
• Monitor and manage the cash flow for each project, ensuring sufficient funds are available to meet project requirements.
• Work with the finance team to forecast and manage project cash requirements based on milestones and payment schedules.
6. Stakeholder Coordination:
• Collaborate with project managers, engineers, and other departments to ensure financial requirements are met.
• Provide financial guidance to project teams and ensure proper understanding of budget constraints and financial processes.
7. Financial Systems Management:
• Maintain and update project financial data in the companys accounting software or project management system.
• Ensure the correct allocation of project-related expenses and revenue within the accounting system.
8. Reporting & Documentation:
• Prepare financial status reports and project completion reports for management.
• Maintain accurate and up-to-date documentation of all project transactions, contracts, and financial records.

Qualifications & Skills:

• Education:
• Bachelor’s degree in Accounting, Finance, or a related field.
• Professional certifications (e.g., MBA / CA Intermediate) is desirable.
• Experience:
• Minimum 5-10 years of experience in project accounting.
• Experience in managing financials for projects (construction, IT, engineering, etc.) is preferred.
• Skills:
• Strong understanding of accounting principles, project financials, and budgeting.
• Proficiency in accounting software (Tally / ERP).
• Advanced MS Excel skills (financial modeling, pivot tables, etc.).
• Strong attention to detail with excellent organizational and time management skills.
• Excellent communication skills for liaising with various stakeholders.
• Ability to analyze financial data and make sound recommendations.
• Personal Attributes:
• Proactive, with a problem-solving mindset.
• Ability to work independently and as part of a team.
• Ability to meet deadlines.

Perks and benefits