Senior Project Accountant

Position: Senior Project Accountant

Department: Finance

Reports to: Director of Finance

Location: 566 W. Lake Street, Chicago, IL (in office 4 days a week)

Employment Type: Full-time benefits eligible

The Senior Project Accountant is responsible for overseeing the financial management, reporting, and analysis of construction projects from project setup through closeout. This role is critical to maintaining the accuracy and integrity of project financials and supporting timely, reliable company‑level reporting. The Senior Project Accountant serves as a key business partner to Operations and Finance, working closely with Project Managers, department leaders, and executive management to ensure projects are financially well‑managed, contract requirements are met, and accounting is performed in accordance with company policy and GAAP.

• Set up and maintain project records, including budgets, cost codes, contract values, change orders, and billing terms within the accounting and project management systems.
• Monitor and analyze project costs, commitments, subcontracts, and change orders throughout the life cycle of each project.
• Prepare, review, and submit accurate owner billings, including AIA payment applications, schedule of values, stored materials, retention, and all required supporting documentation.
• Review project transactions for accuracy and completeness, ensuring costs are coded properly and recorded in the correct accounting period.
• Perform monthly project reconciliations and support the preparation of work‑in‑progress schedules and related revenue recognition calculations.
• Partner with Project Managers to review job cost reports, identify cost overruns or margin risks, and update forecasts, including estimate‑at‑completion and cost‑to‑complete analyses.
• Monitor subcontractor and vendor invoicing for compliance with contract requirements, including lien waivers, insurance certificates, bonds, certified payroll, and other required documentation.
• Assist in managing project cash flow by coordinating billing timing, collections support, subcontractor payment status, and retention tracking.
• Support project closeout activities by ensuring all financial obligations are resolved, final billings are completed, retainage is tracked, and project documentation is complete and properly archived.
• Prepare and deliver monthly project financial reports, variance analyses, and other ad hoc reporting as needed by project teams and leadership.
• Support monthly, quarterly, and year‑end close processes related to project accounting, including accruals, reconciliations, and revenue recognition entries.
• Ensure compliance with internal controls, company accounting policies, contract requirements, lender or owner reporting obligations, and external reporting requirements.
• Assist with internal and external audits by preparing schedules, supporting documentation, and responses to audit requests.
• Maintain a strong understanding of construction accounting principles, including percentage‑of‑completion accounting, WIP reporting, retainage, and job cost controls.
• Identify and recommend process improvements to enhance the efficiency, accuracy, and consistency of project accounting workflows and reporting.
• Serve as a trusted financial partner to Project Managers, Operations leaders, and executive management by providing timely, accurate, and actionable financial information.
• Help train and guide junior accounting staff or project accounting team members on project accounting procedures, billing processes, and system best practices.
• Promote communication and coordination between Finance and Operations to ensure alignment on project status, financial risks, and reporting expectations.
• Contribute to the development and standardization of best practices across project accounting, billing, documentation, and controls.

• Bachelor’s degree in Accounting, Finance, or a related field required.
• Minimum of 5 years of progressive construction accounting experience, including direct responsibility for WIP schedules, revenue recognition support, and month‑end close.
• Strong knowledge of GAAP and construction…