FP&A Analyst

Who We Are

Thermon is a global industrial technology leader and the world's foremost provider of mission‑critical heating solutions. From power generation and semiconductors to oil & gas and food processing, our systems keep essential industries running safely, efficiently, and reliably.

We do not just make heaters‑we deliver complete, end‑to‑end solutions that include design, installation, controls, and monitoring. Our people and products transfer the warmth needed to make life work .

Headquartered in Austin, Texas, and operating in 18 countries, Thermon is built on the values of Care, Commit, and Collaborate . We are a team of innovators and problem‑solvers, united by our mission and driven by a culture of ownership and impact.

About the Role

We're looking for a highly analytical and business‑minded FP&A Analyst to support our growing project‑based business. In this role, you'll partner closely with Project Management, Operations, Sales, Engineering, and Accounting teams to help drive profitable growth, improve forecasting accuracy, and provide meaningful insights that influence business decisions.

This is an excellent opportunity for someone who enjoys combining financial analysis with operational partnership. You'll gain broad exposure to project execution, revenue forecasting, profitability management, cash flow planning, and strategic decision‑making while working directly with business leaders across the organization.

What You'll Do

Drive Project Performance & Profitability

• Analyze project portfolio performance across customers, regions, project types, and execution models.
• Identify drivers of project profitability and recommend actions to improve margins and operational efficiency.
• Evaluate financial performance throughout the project lifecycle, including engineering, field services, construction activities, and subcontracted work.
• Support project reviews by comparing estimated versus actual performance and identifying lessons learned.
• Develop dashboards and KPIs that provide leadership with actionable visibility into project performance and profitability trends.

Lead Forecasting & Financial Planning

• Prepare and maintain monthly forecasts for revenue, gross profit, operating income, and cash flow.
• Partner with Project Managers and business leaders to review project performance and update forecasts.
• Analyze forecast‑to‑actual variances and identify key business drivers.
• Support annual budgeting, quarterly forecasting, and long‑range planning processes.
• Build financial models and scenario analyses for strategic projects and business initiatives.

Manage Backlog, Revenue & Project Reporting

• Analyze project backlog, bookings, and pipeline activity to support revenue forecasting.
• Develop reporting tools that improve visibility into future revenue opportunities and execution risks.
• Partner with Accounting and Project Management teams to support revenue recognition and project reporting.
• Ensure alignment between project forecasts, project progress, and recognized revenue.

Support Margin Management & EAC Reviews

• Monitor project costs, margins, and profitability throughout project execution.
• Identify cost overruns, scope changes, change order impacts, and emerging risks.
• Coordinate monthly Estimate‑at‑Completion (EAC) reviews with Project Managers.
• Help leadership proactively address projects that require corrective action or management intervention.

Improve Cash Flow & Risk Visibility

• Forecast project cash receipts and expenditures.
• Analyze working capital requirements and cash generation across the project portfolio.
• Monitor billing milestones, collections, retention balances, and customer payment trends.
• Evaluate project risks and opportunities, including schedule delays, procurement challenges, productivity issues, and scope changes.
• Develop sensitivity analyses and scenario planning to support business decisions.

Deliver Business Insights

• Prepare monthly financial and operational performance reports for leadership.
• Present findings, recommendations, and trends to Finance and Operations teams.
• Drive continuous improvements in reporting processes, forecasting accuracy, and financial controls.

What We're Looking For

Education

• Bachelor's degree in Finance, Accounting, Economics, Business, Engineering, or a related field.
• MBA, CPA, CMA, or other professional certification is a plus.

Experience

• 3-7 years of experience in FP&A, Project Finance, Cost Accounting, Project Controls, or a related analytical finance role.
• Experience supporting project‑based businesses such as industrial manufacturing, engineering, construction, EPC, or technical services organizations is preferred.
• Familiarity with long‑term contract financial management and project forecasting.
• Knowledge of revenue recognition and percentage‑of‑completion accounting is highly desirable.

Technical Skills

• Advanced Excel skills, including financial modeling and data analysis.
• Experience with ERP systems, preferably Microsoft AX12 and/or D365.
• Experience with Power BI or other business intelligence and reporting tools.

Success in This Role

You will thrive in this position if you:

• Enjoy solving complex business problems through data and analysis.
• Are comfortable partnering with cross‑functional teams and influencing decision‑making.
• Can translate financial results into clear business insights.
• Have strong attention to detail while maintaining a big‑picture perspective.
• Are self‑motivated, curious, and eager to drive continuous improvement.