Project Accountant

Woods Air Movement; Colchester; On-site; GBP 60,000 - 80,000; Full time

Job description

Job Title Project Accountant

Location Colchester

Department Finance

The Woods business was established in 1909 and continues to manufacture in Colchester, United Kingdom. We have around 250 people across all business functions from sales through design and product assembly & testing, as well as businesses in USA, UK, Germany & Singapore.

Woods is a brand of Fläkt Group which is an international leader in wider HVAC products, systems, services, and solutions. As part of the wider group, Woods products are sold into multiple global applications through various routes to market including Group Companies, Agents & Distributors, Key Accounts as well as direct B2B.

The Colchester site is also the Centre of Excellence for the group for all Axial, Air Movement and Fire Safety products and serves to enable product & system sales in Building Services, Industrial, Original Equipment, and Tunnel & Metro applications globally. Our brand and product range is internationally recognised and flexible, from short-lead-time standard products through to technically complex design-to-order products. Manufacturing activities on site in Colchester include Assembly, Product Test, Stamping, Machining, Fabrication, and metal forming.

At Woods Air Movement, our culture and values are at our core:

• Ambition: We set ambitious targets, going the extra mile to achieve them and strive for excellence in everything that we do.

• Entrepreneurship: We challenge the status quo and are proactive in finding ways to achieve our objectives. We take initiative, work sustainability, getting things done efficiently and effectively.

• Accountability: We say what we deliver, and we deliver what we say. We behave with integrity and have a strong moral compass.

• Teamwork: We work together as a team, are transparent, inclusive, and leverage the diverse resources we have in the Group.

Main Purpose of Role:

The Project Accountant will play a key role in ensuring financial control and reporting across long-term contracts, manufacturing operations, and group finance activities. The successful candidate will be qualified (ACA/ACCA/CIMA) or qualified by experience and possess strong knowledge of long-term contract accounting, manufacturing accounting, standard costing, and multi-currency operations.

This is a fantastic opportunity to work in a fast-paced, Group-structured environment, partnering with key stakeholders to enhance financial performance, efficiency, and compliance. Experience in the defence sector is desirable but not essential.

We use AX2012 (Microsoft Dynamics) as our ERP system, Lucanet for Group consolidation, and Power BI for financial analytics and reporting.

Main Duties & Responsibilities:

Project & Cost Accounting
• Ensure accurate financial control of long-term contracts, applying IFRS 15 (Revenue Recognition) principles.
• Maintain accurate project cost tracking, ensuring proper allocation of materials, labour, and overheads.
• Oversee work-in-progress (WIP), cost-to-complete assessments, and margin analysis.
• Analyse and manage functional costs including budget/forecast vs. actual variance analysis, using Power BI for data visualisation.
• Support pricing strategies for international contracts, ensuring financial viability and risk mitigation.
• Utilise AX2012 ERP system to ensure accurate financial data capture and reporting.

Financial Reporting & Group Finance Activities
• Prepare financial reports on project performance, including budget vs. actual variance analysis, using Power BI for data visualisation.
• Manage fixed asset accounting process, including monthly reporting and reconciliations.
• Ensure timely submission of financial data to Group Finance, aligning with Group accounting policies and reporting deadlines.
• Assist in month-end and year-end Group consolidation processes using Lucanet, ensuring accurate intercompany reconciliations.
• Manage multi-currency reporting, working with Group Finance to address foreign exchange (FX) impacts.
• Provide cover for all aspects of the Financial Controller role including representation at monthly project reviews and preparation and submission of monthly management accounts.
• Support external and internal audits by preparing financial data, reconciliations, and compliance reports.
• Ensure compliance with UK GAAP, IFRS, and industry-specific regulations.

Business Partnering & Continuous Improvement
• Collaborate with operations, project managers, and Group Finance to drive financial efficiency.
• Provide financial insights to non-financial stakeholders, supporting informed decision-making.
• Drive improvements in financial reporting processes, ERP systems, and project costing methodologies.
• Identify and implement process efficiencies to enhance financial control and reporting accuracy.
• Leverage Power BI for enhanced data analysis and reporting insights.

Person Specification/Profile:
• Qualified (ACA/ACCA/CIMA) or Qualified by Experience.
• Proven experience in long-term contract accounting, manufacturing accounting, and standard costing.
• Experience in a UK-based manufacturing/export business with multi-currency transactions.
• Knowledge of IFRS 15 (Revenue Recognition) and project-based accounting.
• Knowledge of standard costing models and manufacturing variances
• Experience in Group Finance reporting and consolidation, preferably with Lucanet or similar tools.
• Experience in the defence industry or other regulated sectors is an advantage but not essential.
• Strong analytical and problem-solving skills.
• Proficiency in AX2012 ERP system (Microsoft Dynamics) for financial reporting.
• Experience using Lucanet for group consolidation and Power BI for financial analytics.
• Strong knowledge of foreign exchange (FX) risk management and multi-currency reporting.
• Excellent communication and stakeholder management abilities.
• Ability to work independently and as part of a Group-wide finance function.

Equal Opportunities: We are an equal opportunities employer, recruiting individuals on their suitability for the role, qualifications and experience. We welcome applications from all communities and backgrounds.
Due to limits on sponsorship allocations, we are not currently in a position to offer sponsorship for this position. Therefore, applicants who do not have the right to work in the UK, and/or require visa sponsorship in order to continue working in the UK, cannot be considered for this role.

No recruitment agencies please

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