Senior Associate, Project Accounting

HITT Contracting Inc.•New York, NY

23h•$84,700 - $123,200•Onsite

About The Position

The Senior Associate of Project Accounting has a comprehensive level of understanding regarding commercial construction cost accounting. This individual is responsible for project finances that are more complex and larger in size. The Senior Associate will be responsible for mentoring and training associates and new Senior Associates. This is an advisory role due to their broad knowledge base.

Requirements

Bachelor’s Degree in Finance, Accounting or Business with strong Accounting experience preferred
Two (2) to five (5) years of accounting experience
Experience with JD Edwards or other comparable ERP solutions is preferred
Ability to lift boxes weighing up to 30 pounds
Thrives in a fast paced environment
Identify and propose ideas for process improvement
Good verbal and written communication skills
Ability to establish and maintain productive working relationships with others
Ability to work independently
Highly organized
Ability to problem solve

Responsibilities

CONSTRUCTION COST ACCOUNTING SUBJECT MATTER EXPERT
Trouble-shooter - Detailed knowledge of JDE processes
Capacity to manage large complex projects
Perform all Project Accounting responsibilities (high level)
JDE / DATA PROCESSING
Accounts Receivable Job Billings – Review for compliance and generate AIA and HITT specific invoices
Cash Receipts/Posting – record payments received by clients
Collection follow up for invoices past payment terms
Maintain 3rd party billing portals
Process Minor AR write-offs (Signature approval needed from Manager prior to issuance)
Accounts Payable Execute subcontracts
Enter Subcontractor Invoices for approval in JDE
Review and cost code Supplier invoices for approval in Docusphere
Generate Subcontractor Waivers
Prepare weekly batches for Subcontractor check run
Submit subcontractor and supplier NSPRs when requested by Operations
Initiate Void Check requests as needed
Validate SharePoint Void Check Request forms and Void AP Supplier Invoice forms (PA initiates, SPA verifies)
Process Subcontractor Check Run (currently managers process the run, future state to include all senior associates on the rotating schedule)
Process Client and/or Subcontractor refunds (signature approval needed from Manager prior to issuance)
Budget SOV Management
Maintain job cost records
Active budget monitoring – track financial performance against the budget
Enter budget revisions as necessary
PROJECT MANAGEMENT SUPPORT
Run weekly PM accounting meetings
Provide JDE training, testing and support for Ops team
General conditions review – analysis on labor overages, remaining budget
Cost trend analysis
Provide Marketing inquiries
Provide accurate and timely financial information using the following reports
SCCA Fee Analysis
Job Profit Summary
Profit Reporting
AR Aging
AP Aging
Unidentified Costs (UICs)
PRS Metrics (Days to Collect A/R; Days to Close Jobs)
Assist HITT Project Management in tracking all costs associated with complex GMP Projects
Provide month end comments for open A/R, underbilling's and unidentified costs
Oversee risk management for each project, specifically regarding subcontractors, lien waiver documentation, joint check agreements, subcontractor bonding and proper insurance requirements to mitigate risks, exposure, etc
Assist Operations with strategic planning/forecasting of project financials
Provide training and assistance to support improved understanding of the financial data
COMPLIANCE
New Project Setup
Review supporting documents for validity
Owner Agreement – written authorization from client
Original Budget entered as submitted to the client
Review owner contracts to understand requirements
Proper Contract (Owner & Subcontractor) Signature authority
Provide Client COIs and Bonds when required
Track and maintain insurance certificates to ensure subcontractors are compliant with on-site coverage minimums
Organize and maintain Davis Bacon Certified Payroll documentation as required
New Vendor Set Up
Validate and submit Address Book Setup or Change request forms (PA Associate initiates request, Senior Associate verifies)
Project Close out
Ensure proper paper and electronic documentation filing for audit purposes
Assist with year-end project audits
Change Order Management
Owner Change Order – Ensure written authorization to perform additional work for the specified amount
Track and maintain subcontractor insurance coverage is compliant with HITT on-site coverage minimums
Subcontractor Waivers
Confirm receipt of executed final (and partial if required by project) lien release prior to issuing final payment to Subcontractor
Perform insurance reviews and other analyses as required for OCIP / CCIP and Subguard (“SDI”) programs
CUSTOMER RELATIONS
Create and maintain positive working relationships with HITT subcontractors and suppliers
PROJECT ACCOUNTING ORGANIZATIONAL SUPPORT
Train & mentor new hires at associate & senior associate levels
Provide leadership in peer group activities/initiatives
Communicate and enforce Project Accounting and Company Policies and Procedures