Department : Finance & Accounts
Industry : MEP Contracting / Construction
Reports To : CFO
Job Summary
The Finance & Accounts Manager is responsible for overseeing all financial and accounting functions of the MEP contracting company. This includes budgeting, financial reporting, project cost control, compliance, and strategic planning. The role is crucial in managing cash flow, optimizing financial performance, and ensuring regulatory compliance, especially in a project-driven construction environment.
Key Responsibilities
Financial Management & Reporting:
- Manage and oversee daily operations of the finance and accounting department.
- Prepare monthly, quarterly, and annual financial statements and reports.
- Monitor and control company-wide cash flow, bank positions, and fund requirements.
- Develop budgets, forecasts, and financial models in coordination with project teams and senior management.
- Maintain the general ledger and ensure accurate financial data entry and reconciliation.
Project Accounting & Cost Control
- Monitor project costs, billing, revenue recognition, and profitability of MEP projects.
- Work closely with project managers to track project budgets vs. actual costs.
- Ensure timely client billing (progress claims, variation orders) and follow up on receivables.
- Control and analyze cost allocations, job costing, and work-in-progress (WIP) reports.
Compliance & Audit
- Ensure compliance with applicable tax laws, labor laws, and financial regulations.
- Coordinate internal and external audits and provide required documentation.
- Liaise with banks, auditors, government bodies, and other financial institutions as required.
Payroll & Vendor Management
- Oversee payroll preparation and statutory contributions (e.g., end-of-service, leave, etc.).
- Manage accounts payable and receivable cycles, ensuring timely payments and collections.
- Ensure proper documentation and reconciliation of subcontractor/vendor accounts.
Strategic Finance & Leadership
- Provide strategic recommendations to the management for financial planning and business growth.
- Lead and mentor a team of accountants and finance staff.
- Develop financial controls, policies, and procedures to improve operational efficiency.
Requirements
- Bachelor's Degree in Accounting, Finance, or Commerce (mandatory).
- Professional certifications such as CA or CMA (interqualified are also preferred).
- 7–10 years of progressive experience in finance & accounts, with at least 3–5 years in a managerial role within the MEP or construction sector.
- Strong understanding of project accounting, cost control, and construction finance.
- Hands-on experience with accounting software (Tally, QuickBooks, Zoho, or ERP systems like SAP or Oracle).
- Strong analytical, communication, and leadership skills.
Preferred Qualifications
- Knowledge of corporate tax and labor regulations.
- Experience handling financial operations for multiple simultaneous projects.
- Familiarity with IND AS and construction-specific financial reporting standards.
