Project Accounting Supervisor

Description:

Job Summary

The Project Accounting Supervisor is responsible for managing all project accounting as well as invoice generation and accounts payable processing. This person will ensure accurate project tracking, customer invoicing, accounts payable coding, revenue recognition, reporting, and compliance with company policies and accounting standards. The Supervisor will manage a team focused on accurately invoicing customers in a timely manner and coding expenses effectively. The role will partner closely with project managers and the operations team to monitor activities and compare against contracts and budgets. The person will work directly with the CFO and Systems Optimization Director to create robust processes for project data capture to provide accurate information to the accounting team for project-level accruals.

Key Responsibilities

- Project Accounting Oversight: Maintain project-related financial records, including budget setup, cost coding and allocations, revenue recognition, standard billing, and rebilling of pass-thru expenses.

- Project Reporting: Prepare and review monthly and weekly project reports. Support project managers with timely operational and financial data related to each project and the associated components of billing and revenue recognition. Work with the accounting team to ensure proper revenue recognition.

- Monitor and Manage Billing: Understand customer contracts and manage the various components of billing related to each contract. Manage team that generates invoices and researches potential issues to ensure accurate billing prior to client submission.

- Team Leadership: Mentor a team of accounting professionals, fostering a culture of accuracy, accountability, and collaboration in a fast-paced service industry environment.

- Compliance and Audits: Ensure compliance with federal, state, and local guidelines; coordinate with external auditors for annual audits and implement internal controls to safeguard company assets.

- Process Improvement: Identify and implement improvements to accounting processes, leveraging industry-specific software to enhance efficiency in day-to-day accounting and reporting operations.

- Policy Development: Develop and enforce accounting policies and procedures tailored to the oil and gas service industry, ensuring consistency and compliance.

Requirements:

- Education: Bachelor’s degree in Accounting, Finance, or a related field; CPA, CMA, or MBA preferred.

- Experience:

- Minimum of 7 years of progressive accounting experience, with at least 3 years in a supervisory or leadership role.

- Required: At least 5 years of experience in project accounting for oilfield service, construction, engineering, or similar industries with a strong understanding of project-related accounting and operations.

- Technical Skills:

- Experience with NetSuite is preferred

- Advanced knowledge of Microsoft Excel and financial modeling for service project analysis.

- Leadership Skills: Proven ability to lead and develop a team in the dynamic and deadline-driven oilfield service industry.

- Analytical Skills: Strong analytical and problem-solving skills.

- Communication Skills: Excellent verbal and written communication skills to interact with operational teams, management, and external stakeholders such as clients or service partners.

- Regulatory Knowledge: Understanding of GAAP and service industry accounting requirements, including revenue recognition and compliance standards.

- Organizational Skills: Ability to manage multiple priorities, including project-based deadlines and reporting schedules.