Financial Project Manager

Job Description
Project Accounting Manager

Location: Ideally based in the Chicago area (remote with occasional project travel as required)

Job Type: Full Time

Reports To: Financial Controller

Position Summary

We are seeking an experienced Project Accounting Manager to lead the project accounting function on a large-scale active construction project. This role will be responsible for reviewing and validating existing project cost records, ensuring historical costs, billings, and contract documentation are accurate before transitioning the project into Procore. Once implemented, you will take ownership of the monthly pay application process, reconciliations, and client billing, working closely with project stakeholders to ensure accuracy and compliance.

This is a highly autonomous role suited to a detail-oriented construction accounting professional with a strong understanding of job cost accounting, billing, and financial controls within complex construction projects.

Key Responsibilities

• Review and validate existing project cost records, including budgets, cost codes, commitments, historical costs, and billings, resolving discrepancies with supporting documentation.
• Lead the setup and migration of project financial data into Procore, including budgets, cost codes, commitments, and historical information.
• Manage the complete monthly pay application process from cost cut-off through client submission, ensuring accuracy and completeness.
• Review and code vendor invoices and subcontractor pay applications, verifying costs against commitments and contract requirements.
• Prepare invoice logs, cost summaries, and reconciliation reports, ensuring all billing documentation aligns with accounting records.
• Manage owner and subcontract change orders, maintaining accurate contract values, schedules of values, and budget updates.
• Track and obtain subcontractor and vendor lien waivers throughout the payment cycle.
• Monitor project budgets against committed and actual costs, identifying coding issues or cost overruns before billing.
• Prepare monthly WIP reports, contingency tracking, cost reporting, and financial updates for project leadership and clients.
• Develop and implement consistent accounting processes for invoice coding, billing, reconciliations, and project financial controls as the team grows.

Qualifications

• Minimum 5 years of project accounting experience within commercial construction, working for a general contractor or construction management firm.
• Strong knowledge of job cost accounting and the ability to work independently with minimal supervision.
• Hands-on Procore experience, including project setup, budget configuration, cost coding, and data migration.
• Experience preparing and reviewing AIA G702/G703 pay applications for GMP or cost-reimbursable projects.
• Proven ability to identify and resolve billing discrepancies, coding errors, and reconciliation issues within complex project accounting environments.
• Solid understanding of schedules of values, retainage, lien waivers, and change order management.
• Advanced Excel skills, particularly in reconciliations and financial reporting.
• Bachelor's degree in Accounting, Finance, or equivalent industry experience.

Preferred Experience

• Experience supporting large-scale construction projects valued at $100M+.
• Familiarity with Yardi.
• Knowledge of Work in Progress (WIP) reporting and percentage-of-completion revenue recognition.