Commercial Accountant

  • Location:
  • Salary:
    £40,000
  • Job type:
    Permanent
  • Posted:
    5 months ago
  • Category:
    Accountancy
  • Job Reference:
    54280

To provide commercial support to contracts, and to ensure accurate recognition of revenue and cost through the monthly management accounts (CVR).

This will be achieved through an ability to effectively manage internal and external customers, and an in-depth understanding of the commercial deliverables of the contracts, and a thorough understanding of revenue recognition, WIP and accruals.

KEY ACCOUNTABILITIES:

– Manage the day to day commercial administration of the contracts, including preparing internal and external reports and representing the company at client meetings.
– Build and maintain a good working relationship with internal and external clients.
– Manage, report on and optimise, cost, opportunities and contract performance.
– Identify cost savings on existing contracts and feed these back to the Commercial Contract Manager.
– Ensure that all due revenue is correctly billed and collected in a timely manner.
– Identify and manage risk on the contracts.
– Manage the record keeping process to support contracts delivered by the division required for financial cost control and reporting, measuring and valuing work.
– Provide timely and accurate contract reports on period results and full life projection, including reports on un-agreed amounts included in end life forecast.
– Raise applications for payment and invoices as required.
– Manage cash flow of contracts, including cash receivable from clients and payments due to suppliers.
– Produce weekly cash flow forecasts, and reconcile weekly cash receipts to forecast to identify variances.
– Manage the aged debt process, and escalate any monies due to ensure a timely resolution to any issues.
– Monitor contract results against budget, identifying and reporting on major factors causing material differences.
– Deal with insurance claims and divisional insurance management issues.
– Advise commercial, engineering and operational staff to ensure corporate governance requirements are not breached.
– Ensure contract deliverables and requirements are fully understood by all stakeholders including admin, operations, planning, engineering and commercial.
– Assist with new business mandates, tenders, contract VOs, PQQs, and RFQs as required.
– Calculate WIP for the contract on a monthly basis, and reconcile revenue to ensure that the management accounts are accurate. Ensure that revenue recognition is consistent and in line with accounting standards.
– Ensure that accruals are complete and accurate and reflect the correct recognition of costs, in line with the relevant accounting standards.
– Produce accurate and detailed financial forecasts on a monthly and quarterly basis, in addition to annual 3 year plans.
– Act as the key financial business partner to the budget holder, providing variance analysis and support each month to assist with preparation for the monthly CVR (cost value reconciliation) meeting.
– Any other reasonable duties as required from time to time.

PRINCIPLE CONTACTS:

Contact with company Directors, Managers and Staff at all levels.
Frequent contact and interaction with operating staff.

EXPERIENCE, KNOWLEDGE, QUALIFICATIONS and TRAINING:

The job holder will have:
– A thorough knowledge of contract procedures and administration.
– Organisational ability with proven communication and motivation skills.
– Ability to meet tight reporting deadlines.
– Ability to express views and explain concepts to clients, suppliers and colleagues.
– Good and proven negotiation skills.
– A comprehensive understanding of contract reporting methodology, which determine the financial results for the division.
– Good commercial acumen, with the ability to constantly improve systems, processes and reporting standards.
– The ability to explain commercial concepts to others, including non-commercial managers.

SAFETY RESPONSIBILITY STATEMENT:

– Comply with legislation and industry standards, i.e. Rule Book.
– Comply with company rules, procedures and working practices.
– Undertake all work in a safe manner.
– Report all accidents, and incidents with the potential to cause injury or property damage.
– Where necessary, provide advice and support to inexperienced colleagues.
– Remember – If it”s not safe to do, don”t do it.

Behavioural Skills:

– Energy – Get up and go attitude of a leader
– Energise – Lead, manage and inspire my team
– Edge – Maximise my personal edge
– Execute – Make things happen
– Engage – Stay close to the client

Disclaimer - FRS strives to be an equal opportunities employer and is committed to treating all applicants alike. FRS does not treat any individual on grounds of sex, age, colour, marital status, race, nationality or ethnic or national origin, religion, sexual orientation, disability or membership or non-membership of a trade union, less favourably than others. All vacancies advertised are open to all ages.