The Financial Analyst is responsible for monitoring, reporting and analyzing project revenue and costs. They will work closely with operations to communicate site performance to upper management and help drive site profitability. This position manages monthly, quarterly and annual variance analysis, performs site forecasting / budgeting, coordinates with auditors, prepares working papers for internal and external reporting requirements and assists in ad-hoc projects as required.
This position performs job setup, control and maintenance activities, as well as month end activities which includes revenue recognition on forecasted jobs. They work closely with internal departments to ensure all daily accounting activities are in compliance with United States Generally Accepted Accounting Principles (“US GAAP”), internal controls, policies, and procedures. NACG is a CPA Alberta Pre-Approved Program for practical experience.
- Act as the central liaison between the corporate accounting team and the operations team by aligning with operations managers and project managers.
- Work closely with site management to manage the forecasting of job performance.
- Continuously improve the internal job forecasting process to streamline revenue recognition.
- Responsible for monitoring, reporting and analyzing variances between actual costs and the forecast for the assigned sites.
- Continual review and analysis of the job profit summary for the assigned sites.
- Regular communication of site results by providing written analysis on job results.
- Build new reporting by incorporating the use of graphs and waterfall charting. Stay current with new reporting trends.
- Support sites through the annual budgeting process and provide financial review.
- Provide suggestions on job cost structure and strive to manage deadlines.
- Perform site visits to establish and build relationships with the operational team.
- Identify project opportunities and assist Operations and Project Managers with financial review on new contracts, equipment acquisitions etc.
- Oversee project and equipment results to ensure the capture of financial information in accordance with US GAAP and internal policies and procedures.
- Provide financial assistance and review in the drafting of client change orders.
- Actively participate in the “cradle to grave” life of a project, providing analysis during the bid process; managing the effective and complete project setup; collaborating with project managers to ensure timely recognition and recording of project performance and change events; leading the project closeout reconciliations; and providing analysis of initial project expectations versus final project results
- Work closely with project management, corporate, procurement, payroll, accounts receivable and accounts payable to ensure accurate and consistent financial reporting, cost capture, revenue recognition and project billing.
- Complete monthly overhead cost analysis and lead the presentation of overhead results in monthly meetings with key project personnel and senior management.
- Build and maintain effective working relationships with operational stakeholders, internal and external stakeholders and team members.
- Understand contract terms and assist project personnel in performing project start-up and life-cycle maintenance.
- Maintain continuities of approved contractual values and ensure that revenue is recognized in compliance with contractual documentation, the new revenue recognition standard (ASC 606) and internal revenue recognition policies.
- Complete audit and review analysis and working papers for internal stakeholders and external auditors.
- Respond to queries from internal stakeholders and external auditors.
- Identify areas of inefficiencies in monthly, quarterly and annual processes and offer solutions to improve efficiencies.
- Participate in maintenance of the financial reporting systems, including developing and improving upon custom financial reporting.
- Contribute towards the development and maintenance of internal controls processes affecting operational finance.
- Maintain proper training documentation, and cross train with members of the department to provide vacation coverage.
- Participate in ad hoc projects and analysis as necessary and provide assistance to the Financial Planning and Analysis group as required.
- Related Bachelors degree or equivalent experience related to financial accounting.
- CPA (or final year of program) preferred.
- Minimum three years’ experience related to financial accounting or project accounting.
- Excellent written and verbal communication skills
- Self-starter with excellent interpersonal communication and problem-solving skills
- Solid understanding of revenue recognition
- Strong analytical and organizational skills
- High attention to detail
- Proficient with Microsoft Excel
- Mature attitude and ability to deal effectively in a team environment.
- Ability to read and interpret contract information and financial results
- Experience with JD Edwards is considered an asset