Project Financial Controls Specialist

Milhouse Engineering and Construction, Inc.•Chicago, IL

1d•$67,700 - $80,600•Onsite

About The Position

The Project Financial Controls Specialist provides independent financial validation and analysis across assigned projects to support accurate billing, sound forecasting, and profitable delivery. Operating within the Milhouse Project Management Methodology (PMM), this role reviews project financial structure and performance before invoices advance for Project Manager approval and works with Project Finance and project teams to identify exceptions, financial risk, and corrective actions.

Requirements

Four-year bachelor's degree in Finance, Accounting, Business, Construction Management, Engineering Management, or a related field from an accredited College or University. Equivalent relevant experience may be considered.
3–5 years of relevant experience in project controls, project finance, project financial analysis, FP&A for a project-based business, or related financial operations.
Experience in engineering, construction, consulting, or another project-based professional services environment strongly preferred.
Strong understanding of project financial management, project P&Ls, profitability, multipliers, labor and billing rates, overhead/burden rates, and margin analysis.
Working knowledge of T&M/cost-plus and lump-sum/fixed-fee contract structures and their impact on project financial performance.
Experience with project forecasting and controls, including EAC, ETC, backlog, burn rate, remaining fee, percent complete, and revenue leakage.
Ability to evaluate staffing/resource plans and understand how labor mix, rates, cost, and overhead affect project profitability.
Strong quantitative analysis, forecasting, attention to detail, and ability to identify and explain financial variances and risks.
Ability to independently challenge financial assumptions while working collaboratively with Project Finance, Project Managers, and Group Leaders.
Experience with Deltek Vantagepoint/Vision or a comparable project-based ERP preferred; strong Microsoft Excel skills.
Knowledge of project management principles and professional-services or engineering/construction project delivery preferred.

Responsibilities

Validate new and existing project setups in Deltek before billing, including contract type, billing structure, rate tables, fees, revenue method, budgets, phases/tasks, and other key financial fields; confirm Deltek aligns with the contract and approved project assumptions before invoices advance for Project Manager review.
Review project P&Ls and financial performance, including revenue, direct labor, subconsultants/ODCs, overhead, multipliers, margin, burn, backlog, EAC, ETC, and remaining fee.
Maintain and update project forecasts using current project inputs and identify risks to budget, fee, revenue, margin, or cash flow.
Evaluate T&M/cost-plus and lump-sum/fixed-fee project structures and understand how contract terms, rate tables, staffing, and scope affect project profitability.
Analyze resource and staffing plans based on billing rates, cost rates, overhead burden, remaining budget, and expected margin; recommend changes when the planned labor mix creates financial risk.
Identify revenue leakage, unbilled exposure, recurring invoice issues, margin deterioration, and other control exceptions and document findings.
Recommend staffing, scope, rate, change-order, billing, or delivery actions that improve project profitability and financial performance.
Work with Project Finance to resolve financial-control exceptions and verify corrections before an invoice is released to the Project Manager for approval.
Support Project Managers and Group Leaders with project financial analysis, forecasting, and interpretation of project performance.
Maintain clear validation records, financial-review documentation, and supporting evidence in accordance with PF&G and PMM requirements.
Participate in recurring percent-complete (% complete) and project financial reviews; evaluate PM inputs for percent complete, ETC/EAC, staffing, backlog, remaining fee, billing direction, and forecast changes; document required actions and confirm approved updates are reflected in Deltek.

Benefits

Medical, Dental & Vision Coverage
Company Sponsored Life Insurance and Short-Term Disability
Voluntary Coverages
Discounted Gym Membership
Competitive Base Salary
401(k) Retirement Plan
Professional Development Incentives
Milhouse University (Cross-Functional Training)
Employee Education & Development Program
Generous PTO + Paid Holidays
Paid Parental Leave
Extracurricular Sports Teams
Employee Recognition Program
Employee Referral Bonus
Transit Benefits Program
Charitable Events and Activities offered through non-profit affiliate – Milhouse Charities