Lead Project Control Analyst

Job description / Role

Role Summary:

Lead Project Finance Controller (PFC) is the business partner of Unit Business Operations Manager/Project Manager/s for Product Line (PL) who controls all financial aspects of Unit PL, its portfolio of projects and responsible for all major areas of project operations which includes but not limited to Budget control, Billing / Invoicing, revenue recognition, stock control and management, procurement validation, hedging, bank guarantees, insurance and logistics.

Essential Responsibilities:

- Take overall responsibility of all financial issues on the portfolio of its projects after tender phase, i.e., from contract award to TCC or contract close depending on unit set-up. Have at all times full knowledge of all financial movements in regard to revenue, margin and cash. Ensure that such information is consistent, approved and reconciled on a regular basis in ERP system.
- Ensure global view correctness: consolidates the financials of Unit PL portfolio, understand each partner's financial movements and is able to present and explain the data in financial section during project reviews
- Define revenue recognition plan at project inception and billing milestone plan (invoice and progress payments), consolidate, validate and forecast milestones to ensure consistent consolidated revenue recognition.
- Invoice customer and create related invoice in ERP. (Note: Creating packing and shipping list does not belong to the responsibilities of the Project Controller)
- Manage issuance, reduction, recovery and cancellation of bonds and guarantees issued by GE to the clients
- Ensure accurate foreign exchange coverage throughout the project life: request hedges for selling price and main sourcing items at project start, track status of hedges during execution and request roll-over or early settlement based on cash received as needed
- Check, control and monitor movements in Actuals and Costs Committed on monthly basis: identify and analyze overruns versus budget in ERP, search for root causes, interface with project manager and other relevant teams (e.g. sourcing), and ask for corrections when necessary. Ensure that Costs at Completion are aligned with project assumptions.
- Manage and forecast cash movements monthly. Track overdue status, give alerts and ensure that follow-up action plan is taking place.
- Responsible for timely and correct booking
Ensure that project data reporting is in line with approved Project reviews at Project level i.e. that approval of margin deviation follows defined process and that approved margin deviations are consequently booked in the system. Coordinate with project team to ensure consistent accounting (margin recognition) and reporting across the project. Identify key contacts from the beginning and organize kick-off call to establish rules of working together
- Prepare and participate in cash session: identification of invoicing triggering events, invoice format, steps from invoice generation until payment, preparation of project instruction
- Develop strong relationships and continuous communication flows with all project controllers in Project Participating units to ensure that working assumptions are shared, consistent and reported in a timely manner and Implement the controlling tools used within the reporting unit
- Prepare and attend the consolidated Project Review on a quarterly basis.
Prepare the documents for the consolidated Project Review,
Project Manager and Controller should specifically propose and define one or more budget options for the Project review.
- Manage and reconcile the onshore and offshore scope project results both within the project accounts and with respect to balance sheet positions related to the Project. Produce all financial project reporting as requested by the project functions or project related units.
Accountabilities
- Manage full portfolio of single Product Line in case of GA and SWS activities.
- Ownership of cash collection on the project single point of contact for the Project / related PL
- Accurate and timely production and consolidation of project financial statements, as well as reporting in ERP.
- Transparency and accuracy of project margin
- Coordinate and effectively manage all internal (GE) financial interfaces on the project such as GE participating units and Site/Local office.
- Report control deficiencies to the Head of Project Control

Requirements

Qualifications/Requirements:

- Bachelor's degree from an accredited University or College
- Must possess sound knowledge of accounting principles, construction contract accounting and revenue recognition.
- Must have minimum 3-5 years' experience working as a project finance controller handling projects with some level of complexity.
- Strong presentation skills, well versed in excel and power point.
- Prior knowledge of SAP as power user is must
- Previous experience of coordinating external/ internal audit is must.

Desired Characteristics:

Strong oral and written communication skills. Strong interpersonal and leadership skills. Ability to influence others and lead small teams. Lead initiatives of moderate scope and impact. Ability to coordinate several projects simultaneously. Effective problem identification and solution skills. Proven analytical and organizational ability.

About Us: GE (NYSE:GE) drives the world forward by tackling its biggest challenges. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GE's mission and deliver for our customers.

About the Company

GE is a diversified technology, media and financial services company, dedicated to creating products that make life better. From aircraft engines and power generation to financial services, medical imaging, television programming and oil and gas, GE operates in more than 100 countries and employs over 300,000 people worldwide.

GE's Oil & Gas business is a leader in the development and delivery of advanced product and service offerings for the global oil and gas industry. As a consequence of the rapid expansion of its technology base, GE's Oil & Gas is capable of addressing the largest and most complex engineering and application challenges entirely from its own worldwide resources. So whether it's the world's largest LNG compression trains, re-injection of high sulfur gas, enhancing the safety and productivity of the world's oil and gas pipelines, or equipment for the production of oil and gas from harsh environments, GE is leading the charge.