Commercial Project Manager - Financial Contract Administrator - Mount Prospect, IL
Business Unit: Country Division Controller
Requisition Number: 226046
Primary Location: United States-Illinois-Mt. Prospect
Assignment Category: Full-time regular
Experience Level: Mid level
Education Required Level: Bachelor's Degree
Travel Required: 30%
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Siemens Building Technologies is currently searching for a Commercial Project Manager (CPM) to be responsible for all commercial aspects related to a customer contract (“Project”) starting with the sales phase up to the end of the complete project execution phase. The CPM is fully responsible for financial and commercial management (costs, revenue and cash flow) throughout the project execution phase. This encompasses sales controlling, performance measurement, planning, forecasting and reporting. The primary contacts for the CPM include Customers, Suppliers, Project Managers/ Engineers, Procurement, Legal Department, Operational Review, other Commercial Project Managers, Head of local Finance & Business Administration, internal and external Auditors, and central Financial Services.
- Ensure proper financial project set up including WBS structure in line with agreed project budget and company internal contractual arrangements. Set up of a financial performance plan for the project based on the planned delivery schedule for the offered scope during the sales phase and manage it throughout the project execution phase.
- Set up and closely monitor revenue recognition: actual vs plan, degree of completion, cost to complete, total forecasted costs vs planned. Ensure full compliance of revenue and cost recognition with Siemens accounting policies under US-GAAP / IFRS, as well as overall compliance with internal controls, i.e. Sarbanes-Oxley, export control, signature authorities.
- Perform financial planning, forecasting, controlling, reconciliation of project cash flow and constant deviation analysis. Ensure data integrity between SAP back-end and specific front-end tools (division specific).
- Support the responsible Project Manager on change management issues (variations) relating to the scope of the project. Obtain verification and approval of variations prior to submittal to the customer ensuring appropriate costing and pricing in accordance with PM@Siemens Guidelines.
- Constantly assess risks and opportunity and their impact either in the risk register and/or in the gross margin and propose measures to prevent negative margin slippage due to risks that could have been avoided.
- Implement and drive measures together with the project manager to leverage opportunities to improve the project performance, e.g. through claims and variation management. Support Project Managers to ensure Project Quality based on PM@Siemens Guidelines and achievement of project goals
(Revenue, Margin, SG&A, etc.). Ensure quality on all commercial and administrational project quality policies as per PM@Siemens and Siemens guidelines.
- Support Project Managers in timely issuing invoices with strong focus on managing Account Receivables and project cash flow.
- Drive Procurement together with the Project Manager by timely involving the responsible purchasing representative to ensure that the purchase orders are based on the best available bids and are within the set budget.
- Ensure consistent terms and conditions with suppliers/subcontractors in line with the end-customer contract.
- Coordinate other contractual requirements (e.g., performance guarantees, insurances, taxes, sureties) to achieve contract commitments.
- Influence team to take positive action and accountability for the assigned work.
Required Knowledge/Skills, Education and Experience:
1. BS/BA Degree in Accounting or related academic field. CPA certificate or Master’s Degree in Business Administration is desirable.
2. 5 – 8 years of successful experience preferably as Commercial Project Manager (Project Controller or Contract Administrator or equivalent).
3. Ability to travel approximately 30% within zone.
· Qualified Applicants must be legally authorized for employment in the Unites States.
· Qualified Applicants will not require employer sponsored work authorization now or in the future for employment in the United States.