Director, Project Accounting

Overview Farnsworth Group is seeking a Director of Project Accounting. This senior‑level leader manages a team of 10‑15 Project Accountants and serves as the primary financial resource for Group Leaders and Project Managers across the firm’s architecture, engineering, and survey practice groups. Posting Locations Champaign, Lisle, Normal, Peoria, Springfield, IL; Dallas, TX; St. Louis, MO; Waukee, IA What You’ll Do Team Leadership & Development Lead, manage, and develop a team of 10‑15 Project Accountants supporting multiple practice groups and Group Leaders. Establish clear performance expectations, conduct regular one‑on‑ones, and deliver timely, constructive feedback and formal performance reviews. Design and deliver structured onboarding and ongoing training programs to build team proficiency in project accounting fundamentals and Deltek workflows. Identify individual development opportunities and support career growth paths for team members at all experience levels. Foster a team culture grounded in accuracy, accountability, client service, and continuous improvement. Manage workload distribution across the team, balancing assignments to Group Leaders and project portfolios equitably and strategically. Recruit, interview, and onboard Project Accountants as the team grows or turnover occurs, partnering with HR on hiring practices. Project Setup & Contract Administration Oversee accurate and timely project setup in Deltek, including contract values, fee structures, billing terms, phases, tasks, and labor categories. Review and interpret prime contracts, subconsultant agreements, and task orders to ensure billing plans and revenue structures are configured correctly. Ensure all contract modifications, amendments, and scope changes are reflected in the system promptly and accurately. Establish and enforce project setup standards and naming conventions to support consistent reporting across the firm. Partner with Group Leaders and Project Managers during contract negotiation to advise on financial terms, billing structures, and fee adequacy. Client Invoicing & Accounts Receivable Direct the full invoicing cycle for the firm’s project portfolio, ensuring invoices are prepared, reviewed, and issued accurately and on schedule. Review draft invoices prepared by Project Accountants for completeness, accuracy, contract compliance, and appropriate backup documentation. Manage the invoice approval workflow in coordination with Project Managers and Group Leaders. Monitor accounts receivable aging across the portfolio; escalate delinquent accounts and support collection efforts. Ensure proper handling of retainage, subconsultant pass‑through costs, and reimbursable expenses per contract terms. Support preparation and submission of billing on government, federal, and cost‑plus contract types, including compliance with FAR billing requirements where applicable. Revenue Recognition & Project Financial Reporting Oversee monthly revenue recognition, ensuring compliance with ASC 606 and percentage‑of‑completion accounting. Review and approve earned value calculations, percent‑complete estimates, and EAC updates prepared by Project Accountants. Prepare and deliver monthly project financial reports to Group Leaders, including contract status, revenue earned, billed‑to‑date, backlog, and profitability metrics. Identify projects with financial risk—budget overruns, write‑downs, scope creep, or stalled billings—and elevate them proactively. Coordinate with the Sr. Controller and Finance Director on month‑end close activities related to project revenue, unbilled receivables, deferred revenue, and WIP adjustments. Deltek VantagePoint / Vision System Management Serve as a subject matter expert and internal resource for Deltek, guiding users on system use. Oversee the accuracy of the project accounting database, conducting periodic audits of setup, labor posting, expense coding, and billing data. Partner with IT and finance leadership on system upgrades, module implementations, and workflow enhancements. Develop and maintain standard operating procedures for all Deltek project accounting processes and train team members. Leverage reporting and business intelligence tools within Deltek to produce actionable financial data for stakeholders. Group Leader & Project Manager Partnership Serve as the primary liaison between the Project Accounting team and Group Leaders, Practice Leaders, and Project Managers. Facilitate regular project financial review meetings with Group Leaders to discuss backlog, billing pipeline, collections, and project profitability. Educate and coach Project Managers on financial responsibilities, contract awareness, timesheet compliance, and project cost management. Translate financial data into clear, accessible reporting that enables non‑financial project leaders to make informed decisions. Act as a trusted advisor to Group Leaders on fee negotiation, scope management, cost recovery, and financial performance improvement. Subconsultant & Vendor Cost Management Oversee the processing and tracking of subconsultant invoices, ensuring alignment with executed teaming agreements, contract budgets, and project phase allocations. Ensure subconsultant costs are accurately posted, billed to clients, and reconciled in Deltek. Work with Project Managers to monitor subconsultant budget utilization and flag potential overruns before they impact profitability. Coordinate with Accounts Payable to ensure timely and accurate payment of subconsultants per contract pay‑when‑paid provisions. Budgeting, Forecasting & Backlog Reporting Support the Finance Director in the annual revenue budgeting process with project‑level data, pipeline insights, and portfolio projections. Maintain and update the firm’s project backlog and revenue forecasting models in coordination with Group Leaders and business development leadership. Provide monthly net revenue and billing forecast data to finance leadership to support cash‑flow planning and financial reporting. Analyze trends in utilization, project profitability, write‑up/write‑down rates, and collection performance to inform management decisions. Compliance, Internal Controls & Process Improvement Establish and enforce internal controls over project accounting processes, including invoice review thresholds, approval workflows, and audit trail requirements. Ensure compliance with firm‑wide accounting policies, GAAP, and contract‑specific billing and reporting requirements. Lead or support internal and external audits as they relate to project accounting, WIP, and revenue recognition. Continuously evaluate and improve project accounting workflows, reducing manual effort, increasing accuracy, and shortening billing cycle times. Develop and maintain the Project Accounting department’s policies, procedures manual, and training documentation. What You’ll Need Education Bachelor’s degree in Accounting, Finance, Business Administration, or a related field required. CPA or CMA designation a plus, but not required. Experience Minimum of 8‑10 years of project accounting experience, with at least 3‑5 years in a supervisory role overseeing a team of project accountants. Experience at a mid‑to‑large AEC firm with annual revenues well in excess of $100 million strongly preferred. Demonstrated expertise in all phases of AEC project accounting: contract setup, invoicing, revenue recognition, WIP management, and project closeout. Proven track record managing a team of 10 or more direct reports in a fast‑paced, multi‑project environment. Experience supporting multiple Group Leaders or Practice Leaders simultaneously across diverse project types and contract structures. Familiarity with government and federal contracting billing requirements, including FAR‑compliant invoicing, a plus. Technical Skills Expert‑level proficiency in Deltek VantagePoint or Deltek Vision required; ability to train others and navigate system administration tasks is highly valued. Advanced proficiency in Microsoft Excel, including pivot tables, VLOOKUP/XLOOKUP, and financial modeling. Proficiency in Microsoft 365 suite including Outlook, Word, PowerPoint, and SharePoint/Teams. Experience with business intelligence or reporting tools (Power BI, Deltek Reporting, etc.) a plus. Salary Range $150,000 – $220,000 (salary determined by education, experience, knowledge, skills, and abilities of the applicant, as well as internal and external equity). EEO Statement Farnsworth Group, Inc. is proud to be a M/F Disabled and Veteran EEO/AA employer. #J-18808-Ljbffr Farnsworth Group