Project Accounting Manager

About the Role

We are seeking a highly skilled and experienced Project Accounting Manager to oversee the financial management of our real estate development and construction projects. This critical role will be responsible for leading project cost accounting, budgeting, financial reporting, capitalization, cash flow forecasting, contract accounting, and ensuring strict compliance with IFRS, SOCPA, and Saudi regulatory standards. The ideal candidate will collaborate closely with cross-functional teams, including Development, Engineering, Project Management, Procurement, Treasury, and Commercial, to establish and maintain robust financial governance throughout every phase of our projects.

Key Responsibilities

• Project Cost Accounting Leadership: Oversee project cost accounting processes, ensuring accurate monitoring of project budgets, commitments, and expenditures to maintain financial integrity.
• Construction Accounting Oversight: Manage construction accounting functions, including CWIP (Construction Work in Progress), capitalization, and fixed asset transfers, to ensure compliance with accounting standards and regulatory requirements.
• Budgeting and Forecasting: Develop and maintain comprehensive project budgets, forecasts, cash flow projections, and cost-to-complete analyses to support informed decision-making and financial planning.
• Contract and Payment Management: Review contractor payment applications, contract variations, and retention balances to ensure accuracy and alignment with contractual obligations and financial policies.
• Financial Reporting and Analysis: Prepare and present monthly project financial reports, dashboards, and performance analyses to stakeholders, providing clear insights into project financial health and progress.
• Revenue Recognition Support: Assist in the accurate recognition of revenue for development projects in accordance with IFRS standards, ensuring compliance and transparency in financial reporting.
• Treasury Coordination: Work closely with the Treasury team to manage project funding and financing requirements, optimizing cash flow and financial resources for project execution.
• Regulatory Compliance: Ensure adherence to IFRS, SOCPA, VAT, ZATCA, and company policies, maintaining the highest standards of financial governance and regulatory compliance.
• Process Improvement and ERP Enhancements: Drive continuous improvement in project accounting processes and support ERP system enhancements to enhance efficiency, accuracy, and scalability.
• Team Leadership: Lead, mentor, and develop the Project Accounting team, fostering a culture of excellence, accountability, and professional growth.

Requirements

• Education: Bachelor’s degree in Accounting, Finance, Commerce, or a related field from an accredited institution.
• Experience: Minimum of 8–12 years of progressive accounting and finance experience, with at least 5 years dedicated to Project or Construction Accounting.
• Industry Expertise: Proven track record in managing financial aspects of Real Estate Development, Construction, Infrastructure, Mixed-Use, Hospitality, or Commercial Development projects.
• Technical Proficiency: In-depth knowledge of project cost control, CWIP accounting, capitalization, budgeting, forecasting, and financial reporting. Experience with ERP systems such as Microsoft Dynamics 365, SAP, Oracle, or similar platforms is required.
• Analytical Skills: Advanced proficiency in Microsoft Excel; familiarity with Power BI is considered a strong advantage.
• Leadership and Communication: Exceptional leadership abilities, analytical mindset, and stakeholder management skills to effectively collaborate with diverse teams and senior leadership.

Preferred Qualifications

• Professional Certifications: SOCPA, CPA, CMA, or ACCA certification is highly desirable.
• Additional Certifications: PMP certification is a plus and indicates a strong project management acumen.
• Regional Experience: Prior experience with mega projects, project financing, or large-scale real estate developments in Saudi Arabia is preferred.

Key Skills

• Project Accounting
• Construction Accounting
• Cost Control
• Budgeting & Forecasting
• Cash Flow Management
• Financial Reporting
• IFRS Compliance
• ERP Systems (SAP / Microsoft Dynamics 365)
• Advanced Microsoft Excel
• Power BI