About the role
Position: Head Project Finance And Accounting
Location: Corporate Office, Vadodara
Reporting: CFO
Experience: 18+ years with managing finance & accounting of project organization
Qualification: CA / MBA Finance
Coordination with Respective Business for Project Cost Management:
- Collaborate with various business units involved in the project to gather cost estimates and budgets.
- Coordinate with project managers and department heads to ensure alignment between project costs and budget allocations.
- Regularly communicate with stakeholders to provide updates on cost management strategies and any deviations from the budget.
Vendor Negotiation:
- Lead negotiations with contractors, suppliers, and other vendors to establish favourable terms and conditions.
- Ensure that contracts are comprehensive, legally sound, and align with the project's objectives.
- Work closely with legal and procurement teams to finalize contract agreements in a timely manner.
Contract Compliances:
- Monitor adherence to contract terms and conditions throughout the project lifecycle.
- Review contracts to ensure compliance with regulatory requirements, industry standards, and internal policies.
- Address any discrepancies or non-compliance issues promptly and effectively.
Bill Passing and Contract Management:
- Oversee the processing of invoices and payments to vendors and contractors.
- Verify the accuracy and validity of bills before approving them for payment.
- Maintain detailed records of all contractual documents, including invoices, payment schedules, and correspondence.
- Cashflow planning
- Co-ordination for payments to respective company
Monthly Reporting of Project Cost (Plan vs. Actual):
- Prepare monthly cost reports comparing planned expenditures against actual spending.
- Analyze variances and identify the reasons for deviations from the budget.
- Present findings to project stakeholders and recommend corrective actions as needed.
Coordination with Project Site Auditors for JMR (S&T):
- Collaborate with project site auditors to conduct joint measurement and reconciliation (JMR) activities.
- Provide necessary documentation and support to auditors to facilitate accurate assessment of project costs and progress.
- Address any audit findings or discrepancies in a timely manner to ensure compliance with audit requirements.
Pre-operative Cost Allocation to Respective Businesses:
- Allocate pre-operative costs to the appropriate business units based on their involvement in the project.
- Ensure that costs are allocated accurately and transparently to facilitate financial reporting and analysis.
Pre-operative Cost Control:
- Implement cost control measures to manage expenses and prevent budget overruns during the pre-operative phase.
- Monitor spending patterns and identify areas where cost savings can be achieved without compromising project quality or timelines
Invoicing to Respective Business:
- Generate and distribute invoices to internal stakeholders for project-related expenses.
- Bank Guarantee management (ABG, PBG & CPBG)
- Ensure that invoices are accurate, properly documented, and submitted in a timely manner to facilitate prompt payment.
Contract Settlement:
- Facilitate the settlement of contractual disputes and claims in accordance with established procedures.
- Negotiate fair and equitable settlements that protect the interests of all parties involved in the contract.