Lead Project Accountant

Overview

Job specifications are intended to present a descriptive list of the range of duties performed by employees. Specifications are not intended to reflect all duties performed within the job.

SUMMARY:

The Lead Project Accountant applies principles of accounting to analyze financial information and prepare financial reports and provides day‑to‑day supervision and leadership of project accounting staff. The incumbent works closely with subsidiary managers, project managers, contract administration staff and the corporate accounting department to analyze project financial data, prepare project billings, advise on the proper coding of invoices for projects, and provide project reports to managers.

The position will maintain project modules, project set up, project reporting and financial information, and prepare financial reports to record assets, liabilities, profit and loss, tax liability, or other financial activities within the organization, including reconciliation of general ledger accounts. Position requires initiative, accuracy, diplomacy, discretion, personal judgment, professional appearance and conduct. Must be detailed and process oriented and have a high level of accounting skills.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Supervise, train, and mentor project accounting staff; assign and prioritize workload, monitor progress, and review work for accuracy, completeness, and conformance to standards.
• Provide input on staff performance evaluations, assist with onboarding of new accounting staff, and serve as the first point of escalation for project accounting questions and issues.
• Prepare, examine, and analyze accounting records, financial statements, and other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.
• Responsible for new project set up and maintenance of project ledger in accounting system.
• Provide “real time” project progress information; monitor project cost, schedule, and work accomplished progress; regularly prepare, distribute, analyze, and summarize reports and identify negative variances.
• Develop, maintain, and analyze project budgets; prepare periodic reports that compare budgeted costs to actual costs; assist with analyzing budget and progress information to maintain expenditure controls.
• Work with subsidiary managers, project managers, and contract administration staff to ensure budget adjustments are made in accordance with contract changes.
• Prepare monthly and annual true up project billings and advise on the proper coding of invoices for projects.
• Develop and maintain revenue recognition procedures and ensure correct recording and coding.
• Assist with preparation of the annual Incurred Cost Submission.
• Assist the DCAA, DCMA and other audits and inquiries.
• Assist with monthly close procedures.
• Perform required reporting for contract compliance and closeout.
• Audit contracts, delivery orders and vouchers, and prepare reports to substantiate individual transactions prior to settlement.
• Compile and analyze financial information to prepare entries to general ledger accounts, documenting business transactions; reconcile general ledger accounts.
• Review accounts receivable summaries for conformance to standards; review and reconcile unbilled accounts receivable.
• Assist in the collection and analysis of data to detect deficient controls, duplicated effort, extravagance, fraud, or non‑compliance with laws, regulations, and management policies.
• Establish, modify, document and coordinate implementation of accounting and accounting control procedures; devise and implement procedures for general accounting and project accounting.
• Survey operations and processes to ascertain accounting needs and to recommend, develop or maintain solutions to business and financial challenges.
• Perform moderately complex accounting activities relating to the maintenance of complete and accurate general and subsidiary ledgers and resulting managerial reports and financial statements.
• Keep comprehensive records requiring the analysis of complex accounting transactions and the establishment or maintenance of accounting controls.
• Conduct moderately complex studies…