Job Purpose
The
Projects Accountant is
the financial steward of all project operations, responsible for end-to-end
financial management — from budget origination and cost control through to
final account settlement and audit-readiness. The role drives financial
accuracy, compliance, and transparency across a dynamic multi-project
contracting environment, partnering with project managers, quantity surveyors,
and site teams to ensure every shilling is tracked, justified, and reported in
real time. A key expectation of this role is the ability to leverage digital
and IT tools to automate, integrate, and improve financial visibility across
the project lifecycle.
Key responsibilities
Project
Budgeting & Financial Planning
- Lead the preparation, implementation, and ongoing monitoring of
project-specific budgets aligned to Bills of Quantities (BoQs), contract
values, and project programmes.
- Develop rolling financial forecasts (monthly/quarterly)
incorporating scope changes, variation orders, and project progress
updates.
- Maintain budget-vs-actual dashboards using Excel (advanced) or
ERP/project management tools, with real-time visibility for project
managers and senior leadership.
- Integrate budget data with project scheduling tools (e.g. MS
Project, Primavera) to align financial and time-based project planning.
Financial
Reporting & Management Accounts
- Prepare accurate, timely financial reports entailing project
P&Ls, cost-to-complete (CTC) analyses and earned value reports on a
monthly and ad-hoc basis.
- Produce variance analyses comparing actual costs vs. budgets and
forecasts, with clear written commentary for management decisions.
- Consolidate multi-project financial data into company-wide project
portfolio reports for the Head of Finance and the Management Board.
- Utilize ERP/accounting system reporting modules (SAP, Sage,
QuickBooks, or equivalent) to generate structured management accounts.
- Produce KPI dashboards (utilization rates, cost burn, profitability
by project, WIP schedules) using Excel pivot tables, Power BI, or
equivalent BI tools.
Cost
Management & Control
- Monitor and track all project expenditures including labour,
materials, subcontractors, plant, and preliminaries against approved
budgets in real time.
- Identify cost overruns, uncommitted costs, and budget threats early
and recommend corrective action to project teams.
- Manage Work-in-Progress (WIP) accounting in line with IAS 11/IFRS 15
construction contract accounting standards.
- Process and validate interim payment certificates (IPCs),
subcontractor payment applications, and supplier invoices against contract
milestones.
- Support the Quantity Surveyor in valuations, re-measurements, and
final account negotiations with clients and subcontractors.
- Administer contract retention calculations, release schedules, and
bond tracking across all active projects.
IT
Systems, Data & Digital Finance Tools
- Use ERP and project accounting software as the single source of
financial truth across all projects.
- Build and maintain automated Excel models and macros (VBA/Power
Query) for cost tracking, cash flow forecasting, and payroll
reconciliation.
- Develop and maintain Qlik (or equivalent) dashboards for real-time
project financial performance monitoring accessible to project and site
teams.
- Integrate financial data from field systems (site timesheets,
materials requisitions, fuel logs) into the accounting system, minimising
manual data entry and error risk.
- Implement and enforce a digital document management protocol for all
project financial records — contracts, IPCs, variations, purchase orders —
using document management systems (e.g. SharePoint, Aconex, Procore).
- Evaluate and recommend IT improvements to financial workflows,
including mobile-first tools for site-based data capture and approval
workflows.
- Act as Finance Super-User for the ERP system: provide training to
project staff, maintain chart of accounts integrity, and liaise with IT on
system configuration and upgrades.
- Ensure cybersecurity best practices in handling financial data —
including controlled system access, audit trails, and data backup
protocols.
Procurement
Financial Oversight
- Review and validate all procurement requests and purchase orders
against approved project budgets before commitment.
- Monitor and flag uncommitted purchase orders and open GRNs that may
affect project cost forecasts.
- Leverage procurement-to-pay modules within the ERP system to enforce
three-way matching (PO, GRN, Invoice) before payment release.
Cash
Flow Management & Treasury Support
- Prepare and maintain project-specific and consolidated cash flow
forecasts, updated weekly or at programme milestones.
- Monitor client billing cycles, IPC submission schedules, and payment
receipts to optimise working capital.
- Flag cash flow risks (payment delays, front-loaded expenditure) and
propose mitigation actions to the Head of Finance.
- Prepare drawdown requests and financial reports for project
financiers, banks, or development finance institutions where applicable.
Compliance,
Statutory, & Financial Controls
- Ensure all project financial transactions comply with Kenyan
financial regulations, Kenya Revenue Authority (KRA) requirements, and
company internal controls.
- Manage and account for withholding tax (WHT) on subcontractor and
professional fee payments in line with KRA guidelines.
- Ensure timely and accurate VAT treatment on construction contracts,
including reverse charge mechanisms and VAT on retention.
- Maintain a complete, auditable project file — financial records,
contracts, variations, approvals — ready for internal and external audit
at all times.
- Support year-end statutory audit processes including
work-in-progress schedules, accruals, prepayments, and contract
asset/liability reconciliations.
- Enforce segregation of duties, approval authority matrices, and
financial delegation policies across project expenditure.
Projects
Payroll & Labour Cost Management.
- Oversee the processing and reconciliation of site-based payroll
comprising casual labourers, artisans, and plumbers, carpenters etc
ensuring accuracy and compliance with Employment Act requirements.
- Reconcile labour cost allocations per project, cost centre and
activity code, feeding data into project cost reports.
Cross-Functional
Collaboration & Stakeholder Engagement
- Serve as the primary financial partner to Project Managers and
Resident Engineers by attending project progress meetings, reviewing
project programmes, and providing financial input to key decisions.
- Liaise with Quantity Surveyors on contract administration, claim
preparation, and dispute resolution.
- Collaborate with the HR/Admin team on workforce cost management and
benefits cost allocation to projects.
- Provide financial analysis to support contract bids, pricing
reviews, and go/no-go decisions for new projects.
- Prepare financial packs and briefings for client project steering
committees or joint venture governance meetings as required.
Process
Improvement & Financial Governance
- Continuously identify and implement improvements in financial
processes, reporting workflows, and systems integration to drive accuracy
and efficiency.
- Develop and document Standard Operating Procedures (SOPs) for
project financial management processes.
- Drive a culture of financial accountability across site and project
teams through training, clear policies, and regular financial reviews.
- Prepare and present periodic financial governance reports to the
Head of Finance and CFO.
Qualifications
Academic
Qualifications
- Bachelor’s degree in Finance, Accounting, Commerce, or a related
field from a recognised university.
Professional
Experience
- Minimum 6 years’ progressive experience in project accounting, cost
accounting, or financial management.
- At least 3 years’ direct experience in the construction, civil
engineering, or infrastructure contracting sector in Kenya or East Africa
is strongly preferred.
- Demonstrated experience managing multi-project financial portfolios
with an aggregate value of KES 500M+ is an added advantage.
How to Apply
