Bookkeeper & Financial Specialist

POSITION OVERVIEW 

Job Title: Bookkeeper & Financial Specialist 

Reports To: President 

Job Summary: The Bookkeeper & Financial Specialist of a contractor holds a vital role, overseeing the financial actions of the company. This position involves strategic planning, risk management, record-keeping, and financial reporting to enhance the company's financial health and stability. Here are the roles and responsibilities: 

Interpersonal Responsibilities

• Act as liaison to prospective and current clients or 3rd party owners for any financial issues or reporting.
• Serves as a resource for assisting project team questions / concerns, including office, field and shop regarding financial or accounting concerns or clarifications.
• Communicate professionally, effectively, and within a timely manner with prospective and current clients and staff. Available via phone, email or in person meetings. 

Management Duties

Financial Leadership and Strategy:

• Advises the Leadership key members of senior management on financial planning, budgeting, cash flow, investment priorities, and policy matters.
• Serves as a key member of the executive leadership team, participating in pivotal decisions regarding project financing and corporate governance.

Financial Planning and Analysis:

• Oversee budgeting, financial forecasting, and cash flow for construction projects, administration, and the organization at large.
• Conducts profitability analysis of the company to ensure financial prudence and efficiency.
• Implement rigorous systems to develop controls and monitor for effectiveness. 
• Analyzes industry trends and the company’s financial data to forecast future financial conditions and develop proactive strategies.

Financial Reporting and Compliance:

• Ensures timely and accurate reporting of all financial transactions and performance metrics to the company’s owners and external entities such as the bond company, bank loans or project pre-qualifications.
• Oversee the preparation of all financial statements, including income statements, balance sheets, and statements of cash flows.
• Coordinates with external auditors and legal departments to meet audit requirements and address findings.

Capital Management and Investment Decisions:

• In conjunction with the Stakeholders, manages the company’s capital structure, determining the best mix of debt, equity, and internal financing to fund corporate activities.
• Oversee the company’s fiscal activities.

Internal Controls and Efficiency:

• In conjunction with the Stakeholders, establishes and maintains robust internal controls to manage and reduce financial risks.
• Streamlines accounting processes and financial management systems to increase efficiency and accuracy.
• Implements technology solutions for financial operations, improving data analytics and real-time financial reporting capabilities.
• Reviews and improves financial and operational systems to enhance performance metrics across the company.

Accounting Duties

Financial Recording and Reporting:

• Maintains accurate records of all financial transactions related to construction projects and general company finances.
• Prepare financial reports, including profit and loss statements, balance sheets, and cash flow statements, to provide a clear view of the company’s financial status.
• Ensures that all financial reporting complies with generally accepted accounting principles (GAAP) and industry regulations.

Budget Management:

• Coordinates with the Owners in preparing detailed budgets for the overall company budget.
• Provides regular budget reports and financial forecasts to help management make informed decisions.

Payroll and Expenses:

• Oversee the payroll process, ensuring that all employees are paid accurately and on time.
• Manages reimbursement procedures for expenses incurred by project teams and company staff.
• Ensures accurate classification and recording of all payroll and expense transactions.
• Supports company compensation and benefits programs from a financial input standpoint.
• Review monthly expense reports for company credit cards and provide validations/approvals.

Tax Compliance:

• Coordinate with outside accounting firms to prepare and file all required tax returns accurately and on time, including federal, state, payroll, corporate, and sales tax, where applicable.
• Keeps up to date with tax laws and regulations to ensure full compliance.
• Works with tax consultants and auditors as needed to handle audits and complex tax matters.
• Ensure all real estate and building property taxes are accurately and timely paid.

Accounts Receivable and Payable Management:

• Manages the accounts receivable process to ensure timely collection of payments from clients.
• Ensure project monthly progress billings are submitted accurately by job costing by the deadline dates.
• Oversee and manage AR retainage for accurate and timely projections and to ensure it does affect AR aging.
• Oversee the accounts payable process to ensure timely payment to suppliers, subcontractors, and other vendors, maintaining good relationships and credit terms.
• Reconciles both accounts regularly to maintain accurate financial records.

Cash Flow Management:

• Monitors and analyzes the company’s cash flow, ensuring sufficient funds are available for ongoing projects and operations.
• Manages banking relationships and arranges for necessary financing or credit facilities as required.
• Implement effective cash management strategies to optimize liquidity and reduce financial costs.
• Utilizes the appropriate BMT-CMS tools to ensure accuracy, timing and decision making of cash flow with the President.

Internal Controls and Audit:

• Develops and maintains an effective system of internal controls to safeguard the company’s assets and ensure the integrity of its financial data.
• Coordinates with external auditors during annual audits to provide necessary documentation and explanations regarding financial reports and practices.
• Identifies potential areas of financial risk and implements preventive measures.

Financial Analysis and Decision Support:

• In conjunction with the owners, conducts financial analysis to assess the profitability, efficiency, and cash flow of various projects.
• Provides detailed financial insights and recommendations to management to aid in decision-making regarding project financing, investments, and other business operations.
• Evaluates financial implications of contracts and agreements, advising management on financial planning and risk management.
• Populate and manage WIP schedules monthly.
• Updates and utilizes additional financial tools (overhead absorption, break-even, labor burden, budget) to ensure accuracy, timing and decision making of financial data.