Project Controller
Confidential Company
Total years of experience :24 years, 5 Months
Responsible for all commercial aspects related to a customer contract (“Project”) starting with the sales phase, to project execution and management phase and finally to the financial accounting and reporting phase;
Develop project management activities (definition of schedule, budget, risk, change, opportunity and resource allocation management) for all the projects;
Collaborate and negotiate with third party vendors and suppliers to secure materials and subcontractor services. Drive Procurement together with the Project Manager by timely involving the responsible purchasing representative to generate/submit purchase order at competitive pricing;
Ensure consistent terms and conditions with suppliers/subcontractors in line with the end-customer contract;
Coordinate other contractual requirements (e.g., performance guarantees, letter of credit, insurances) to achieve contract commitments;
Prepare financial performance plan for the project based on the planned delivery schedule for the offered scope during the sales phase and manage it throughout the project execution phase;
Development of WBS, variance analyses, preparation of written and verbal reports to management regarding cost schedule variances;
Responsible for financial and commercial management (costs, revenue and cash flow) throughout the project execution phase. This encompasses sales controlling, performance measurement, planning, forecasting and reporting;
Performs risk management, cash flow and profitability analysis for projects and recommends corrective actions;
Responsible for project and or proposal commercial oversight; including forecasting project financial results, ensuring timely and accurate customer billings, obtaining and maintaining appropriate security instruments and monthly closing of project financial results;
Assist in the planning, tracking, analysis, and reporting of revenue recognition for actual vs plan, degree of completion, actual vs planned costs, cost to complete and margin on order on hand on projects of varying contract type, size, complexity, and level of risk;
Ensure full compliance of revenue and cost recognition with accounting policies as well as overall compliance with internal controls, e.g. signature mandate, functional approvals;
Communicates and coordinates with all disciplines across the business including Project Management, Technical Staff, Finance, Accounts Receivable, Contracts, Procurement, and Human Resources;
Support the responsible Project Manager on change management issues (variations) relating to the scope of the project. Obtain verification and approval of customers prior to submittal of corresponding invoices;
Constantly assess risks and opportunity and their impact on the gross margin and propose measures to prevent negative margin slippage due to risks that could have been avoided;
Ensure timely issuing invoices with strong focus on managing account receivables and project cash flow;
Prepares internal and external reports for project financials and progress status and also for monthly Project Management Review (PMR) with executive management;
Audit vendor invoices for accuracy as per purchase orders and or other contractual requirements;
Established new timesheet procedure to decrease the variance in hours worked and chargeable time to the customers;
Arranged workshop for technical colleagues and present them the financial basics, terms and terminologies, financial statements and impact of transactions on each financial statement.
Effectively administered Business Unit Instrumentation and Electrical, Power & Gas (PG IE) for all commercial activities of accounting, controlling, reporting, commercial sales and project execution of the BU adhering to the financial reporting guidelines, company policies and ICFR regulations;
Responsible for commercial sales function of Power & Gas (PG) Division for offer / proposal preparation, LOA and legal opinion for commercial implications of the contract for fast / medium track projects of new sales of steam and gas turbines and pricing strategy for ancillary services;
Monitored balance sheet, profit & loss account and cash flow statement of the BU at transactional level to have a thorough insight into financial position, financial performance and cash flows of the BU;
Perform effective contract and risk management at offer stage and during project execution;
Acted as interface between line management and sales team to finalize offers, negotiate / correspond with customers and vendors for contract finalization and risk, claim and change order management;
Commercial execution and cost controlling of the projects to meet customer requirements within the planned costs to maintain and maximize profitability;
Accurate and timely project progress reporting including estimated cost to complete, recognized revenue, project margin, stage of completion, progress billing, order-on-hand margin, etc;
Finalization and analysis of project results with planned data;
Performed variance analysis of actuals with budget and forecast and reasoning thereof;
Drove BUs expense controlling to recommend cost saving measures and working capital management to ensure smooth operation of business;
Monthly and annual closing activities, performance analysis to support business decisions;
Process owner for Business Target Agreements, Budget, Forecasts and short / long term financial planning for major KPIs with Head Quarter and Lead Country mainly comprising of order entry, sales, gross margin, sustaining, EBIT, receivables, accruals, free cash flow, net capital employed, head count, etc.;
Acted as single point of contact for external auditors to finalize their assurance assignments and draft responses to their observations;
Performed testing of design (ToD) and effectiveness (ToE) of internal control over financial reporting (ICFR) at company level;
Represented and coordinated Enterprise Risk Management (ERM) meetings on behalf of the BU.
Managed the financial controlling, reporting and cost center accounting functions of Power Generation Services (PS) Division comprising of 3 Business Units (PS PG, PS DGC and PS TC ) having 39 cost centers;
Liaised with local and foreign colleagues to implement and maintain all reporting requirements for KPIs (new orders, sales, gross margin, sustainings, EBIT, receivables, accruals, free cash flow, net capital employed, head count, etc.) in terms of quality while keeping up the deadlines;
Presented monthly management review analysis to the divisional management;
Preparation of plans, annual budget, forecasts for major KPIs and present them to divisional management for approval and ensure their correct posting to Esprit;
Provided financial and variance analysis to the executive management during monthly, quarterly and pre year end review meetings;
Finalized Business Target Agreement (BTA) and Service Level Agreement (SLA) with the region and headquarter for all the BUs. Provide planning expertise to the sales and execution team with overall project visibility and timing of key decision points;
Assisted technical staff regarding commercial implications of contract by using knowledge to minimize risks and maximize project profit;
Monitored and reported project revenues, costs and results on an ongoing basis in line with the principles of Revenue Recognition & Construction Contract (IFRS).
Conducted regular reviews of OCC - order cost calculation reports for CCM / PoC project status, stage of completion, revenue recognition, progress billings, cash flows, inventories, accruals, estimated cost of completion, non-conformance cost, loss order (if any) and order-on-hand margins.
Coordinated and acted as single point of contact for external auditors to finalize their quarterly, half yearly and annual audit assurance assignments and draft responses to their audit observations.
Organized Surbanes Oxlay Act (SOA) validation meetings for divisional management to certify the SOA’s implication over the financial reporting of the division;
Performed SOA testing at company level;
Represented and co-ordinated ERM (Enterprise Risk Management) meetings, discuss the likelihood EBIT impact of particular risk/opportunity through voting, draft response plans, issue MOM and reporting thereof.
Supervised a team of 5 members at finance department for smooth daily routine operations;
Validated daily bank positions and reconciliation and preparing cash flow statements;
Monitored all month end closing activities including all month-end adjustments;
Business plan, annual budget and financial forecasts for revenue, gross profit, selling & general administration expenses, cash flows, capital expenditure, headcount, etc; and present the same to the management;
Advise on the financial aspects of the significant business decisions and report on a routine basis to ensure compliance with the business plan;
Coordinated with the external auditors for the statutory audits and other assignments.
• Performance of auditing and reporting functions relevant to internal and statutory audits of various organizations;
• Preparation of audit programs and application of the same by using necessary audit techniques;
• Review of accounting and internal control systems and developing/improving the systems there from;
• Implementing and monitoring accounting systems in medium-sized organizations.
CA Part Qualified / Certificate in Accounting & Finance (CAF)
Accounting 80% Statistics & Business Maths 65%