Project Finance Specialist

WSP, a world leading management and consultancy firm, currently have an exciting opportunity for a Project Finance Specialist to join their Finance Shared Services team.

What you'll do:

Project Finance

• Provide efficient Project Finance Administration services on a day to day basis; working on a portfolio of projects (varying number of projects of different values at any given point in time)
• For assigned project(s), manage and analyse the collection, recording, and allocating of project costs, ensuring accurate project revenue recognition calculations, and communicating project financial performance and profitability to project/program management
• Responsible for lifecycle project accounting from creating project accounts in the ERP, to tracking projects and project budget, validating invoicing, project close-out, and reconciling overall project payables and receivables to project budgets
• Partner with the Project Manager and project team to establish the project budget, updating budgets, and making project accounting 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 UBW + receipting invoices; sound knowledge of subcontractor policy and WSP's standard subcontractor/sub consultancy agreements; work closely with Procurement team. This includes evaluating subconsultant invoice submittals for accuracy.
• Provide labour rates where required; transfers hours/expenses following company's policies/procedures utilising shared services/GBS team
• Initiate invoicing requests with the GBS team incl. all necessary supporting documentation; maintain billing information to ensure correct submission of invoices and follow up with project team/client/WSP AR on late payments
• Monitor key indicators and proactively assist in resolving project exceptions in a timely manner to keep overall exception count low (exceptions (not limited to): cost overruns, hard limits, costs but no budget, (ageing) WIP (positive/negative), ageing AR)
• Assist with other queries from the business as they arise (this may include informing them of the correct contact person)
• Verify contract and change order characteristics for projects that are small-medium-sized and/or of a moderate-level of complexity, including reading and interpreting contract language, billing requirements, modifications, purchase orders, and subcontract/consultant terms

Reporting and Analysis

• Utilising UBW, Power Bi (and other tools as required) to produce (internal and/or external) reports on a regular basis, analyse reports (cost trackers and other project specific reports) to monitor actual expenditure 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 business sections (e.g. working closely with AP, AR, Procurement, HR and Payroll, Financial Systems group)
• Attend 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
• Assist with proposal costings where required
• Create and submit 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 of Authority and compliant with SOX 52-109
• Ensure Project data is accurate in UBW, including budgets, project credentials and WBS structure. Ensure checks are in place for data integrity
• Assist with internal and external audits, e.g. collate documentation within required timeframes, utilising GBS to extract details
• Adhere to the Project Accounting guidelines and other processes and procedures implemented across the PFA team

Training and Development

• Complete relevant and mandatory training
• Knowledge of IMS and WSP procedures and policies to educate self and others; provide training to new staff where required, e.g. assist with training new PFA team members, project teams in the use of UBW, Power Bi, cost trackers etc.
• Identifying/Suggesting Project Finance Administration processes/procedures associated with projects; share successes with the PFA team
• Contribute to the Project Finance Administration Team and actively share knowledge; chair team meetings as required
• Ensure you stay up to date with the latest processes, policies, procedures and team updates by being an active member on the Project Finance Teams page

What we'll love about you:

• Tertiary degree in relevant field preferable (commerce, accounting, finance, business administration) - desirable
• Atleast 3-4 years' experience within Project Finance, including maintaining financial data in an ERP
• Proficiency with technical writing, office automation and accounting software, technology, math principles, spreadsheets,
• MS Excel, pivot tables, formulas, data format/sort/filter, VLOOKUP, predictive models, and tools
• Working knowledge of project accounting principles, practices, and methods and their application to project work-related issues.
• Analytical mindset with an ability to exercise sound independent judgement in evaluating situations and making decisions with financial implications to the company
• Effective interpersonal and communication skills when interacting with others, expressing ideas effectively and professionally to a financial and non-financial audience
• Ability to learn new techniques, perform multiple tasks simultaneously, follow instruction, work independently, and comply with company policies
• Effective self-leadership with attention to detail, results orientation, and managing multiple priorities in a dynamic work environment
• Ability to productively work with remote teams and build strong relationships with line manager, PFA's, Project Managers and Commercial
• Critical thinking and problem-solving skills required to apply learned subject matter and technical knowledge to reach conclusions from data collation, documentation, statistical analysis, and arriving at the most effective, economical, and logical solution.

What you'll love about us:

At WSP, we provide a diverse and inclusive work environment and offer many personal and professional development opportunities that are aimed to help you deliver your best self to the role whilst managing your personal life in balance. We have been recognised for the second consecutive year as a Great Place to Work with year-on-year increases in employee engagement.

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