Project Financial Controls Specialist

Socket.dev; Chicago (IL); On-site; USD 85,000 - 125,000; Full time

Benefits offered by this job

Medical, Dental & Vision Coverage

Life Insurance

401(k) Retirement Plan

Professional Development Incentives

Milhouse University Training

Generous PTO & Holidays

Paid Parental Leave

Employee Recognition Program

Transit Benefits

Job summary

Milhouse Engineering and Construction, Inc. seeks a Project Financial Controls Specialist to independently validate project finances, ensuring accurate billing, sound forecasting, and profitable delivery within the PMM framework.

You will review Deltek setups, P&Ls, and forecasts, identify financial risks, and collaborate with Project Finance and project teams to implement corrective actions before invoices are approved.

Qualifications

• Four-year bachelor’s degree in Finance, Accounting, Business, Construction Management, Engineering Management, or related field.
• 3–5 years of relevant experience in project controls, project finance, FP&A for project-based business.
• Experience with Deltek Vantagepoint/Vision or comparable ERP; strong Excel skills.

Responsibilities

• Validate new and existing project setups in Deltek before billing; ensure alignment with contract and assumptions.
• Review project P&Ls and financial performance; analyze revenue, direct labor, subconsultants, overhead, margins.
• Maintain and update project forecasts; identify risks to budget, revenue, and cash flow.
• Evaluate contract structures and how staffing and scope affect profitability.
• Analyze staffing plans and labor mix; adjust to reduce financial risk.
• Identify revenue leakage and unbilled exposure; document findings.
• Propose actions to improve profitability and financial performance.
• Resolve financial-control exceptions with Project Finance before invoicing.
• Support project teams with financial analysis, forecasting, and performance interpretation.
• Maintain validation records and supporting evidence per PF&G and PMM.

Skills

Project controls

Project finance

Financial analysis

FP&A

Deltek Vantagepoint/Vision

Excel

ERP systems

Education

Bachelor’s degree in Finance/Accounting/Business

Tools

Deltek Vantagepoint/Vision

ERP software

Job description

The Project Financial Controls Specialist provides independent financial validation and analysis across assigned projects to support accurate billing, sound forecasting, and profitable delivery. Operating within the Milhouse Project Management Methodology (PMM), this role reviews project financial structure and performance before invoices advance for Project Manager approval and works with Project Finance and project teams to identify exceptions, financial risk, and corrective actions.

What you will do:

• Validate new and existing project setups in Deltek before billing, including contract type, billing structure, rate tables, fees, revenue method, budgets, phases/tasks, and other key financial fields; confirm Deltek aligns with the contract and approved project assumptions before invoices advance for Project Manager review.
• Review project P&Ls and financial performance, including revenue, direct labor, subconsultants/ODCs, overhead, multipliers, margin, burn, backlog, EAC, ETC, and remaining fee.
• Maintain and update project forecasts using current project inputs and identify risks to budget, fee, revenue, margin, or cash flow.
• Evaluate T&M/cost-plus and lump-sum/fixed-fee project structures and understand how contract terms, rate tables, staffing, and scope affect project profitability.
• Analyze resource and staffing plans based on billing rates, cost rates, overhead burden, remaining budget, and expected margin; recommend changes when the planned labor mix creates financial risk.
• Identify revenue leakage, unbilled exposure, recurring invoice issues, margin deterioration, and other control exceptions and document findings.
• Recommend staffing, scope, rate, change-order, billing, or delivery actions that improve project profitability and financial performance.
• Work with Project Finance to resolve financial-control exceptions and verify corrections before an invoice is released to the Project Manager for approval.
• Support Project Managers and Group Leaders with project financial analysis, forecasting, and interpretation of project performance.
• Maintain clear validation records, financial-review documentation, and supporting evidence in accordance with PF&G and PMM requirements.
• Participate in recurring percent-complete (% complete) and project financial reviews; evaluate PM inputs for percent complete, ETC/EAC, staffing, backlog, remaining fee, billing direction, and forecast changes; document required actions and confirm approved updates are reflected in Deltek.

Who you are:

• Four-year bachelor's degree in Finance, Accounting, Business, Construction Management, Engineering Management, or a related field from an accredited College or University. Equivalent relevant experience may be considered.
• 3–5 years of relevant experience in project controls, project finance, project financial analysis, FP&A for a project-based business, or related financial operations.
• Experience in engineering, construction, consulting, or another project-based professional services environment strongly preferred.
• Strong understanding of project financial management, project P&Ls, profitability, multipliers, labor and billing rates, overhead/burden rates, and margin analysis.
• Working knowledge of T&M/cost-plus and lump-sum/fixed-fee contract structures and their impact on project financial performance.
• Experience with project forecasting and controls, including EAC, ETC, backlog, burn rate, remaining fee, percent complete, and revenue leakage.
• Ability to evaluate staffing/resource plans and understand how labor mix, rates, cost, and overhead affect project profitability.
• Strong quantitative analysis, forecasting, attention to detail, and ability to identify and explain financial variances and risks.
• Ability to independently challenge financial assumptions while working collaboratively with Project Finance, Project Managers, and Group Leaders.
• Experience with Deltek Vantagepoint/Vision or a comparable project-based ERP preferred; strong Microsoft Excel skills.
• Knowledge of project management principles and professional-services or engineering/construction project delivery preferred.

At Milhouse, we’re more than just a place to work — we’re a place to grow, thrive, and be celebrated. Here’s how we invest in you:

• Medical, Dental & Vision Coverage– Reach out to learn how yourdeductible could be covered 100%throughGarner Health!
• Company Sponsored Life InsuranceandShort-Term Disability– We’ve got your back when life takes unexpected turns.
• Voluntary Coverages– Take control of your well-being with added coverage options.
• Discounted Gym Membership– Stay active with wellness options that support your fitness goals.
• Competitive Base Salary– Earn what you’re worth in a performance-driven culture.
• 401(k) Retirement Plan– Build your future with confidence.
• Professional Development Incentives– Get rewarded for growing your skills — includingbonuses for earning your P.E. License.
• Milhouse University (Cross-Functional Training)– Expand your expertise with internal training built to elevate your career and receive PDH credits for applicable training towards professional engineering licenses, etc..
• Employee Education & Development Program– Tuition assistance and learning opportunities to keep you moving forward.
• Generous PTO + Paid Holidays– Rest, recharge, and enjoy the moments that matter most.
• Paid Parental Leave– Bond with your new arrival — and yes,we’ll even cover a year of diapers!
• Extracurricular Sports Teams– Join oursummer Volleyball and Softballsquads for fun off the clock.
• Employee Recognition Program– Be celebrated for the impact you make.
• Employee Referral Bonus– Bring great people on board andget paidfor it.
• Transit Benefits Program– Save on your daily commute.
• Charitable Events and Activitiesoffered through non-profit affiliate –Milhouse Charities.

Milhouse is a pay transparency non-discrimination organization committed to fostering an inclusive and equitable workplace. We ensure that all employees are compensated fairly and without bias, in accordance with applicable laws and regulations. In compliance with the Illinois Equal Pay Act, effective January 1, 2025, we include pay scales and benefits in all job postings and ensure that all promotion opportunities are communicated to current employees within 14 days of external postings. Additionally, we participate in E-Verify to confirm employment eligibility and uphold compliance with federal requirements.

Here’s a little information on Milhouse Engineering and Construction, Inc.:

Milhouse Engineering and Construction, Inc. was founded in 2001 with the goal of building the best engineering company in the country. It was based on the belief that if we hired great people, fueled their passion while challenging them to excel, and maintained a laser focus on the needs of your clients, success would come- and so it has. Our portfolio of successful projects continues to grow, our family of highly satisfied clients continues to expand, and our staff just gets better and better.

We are a unique, Chicago-based firm whose collective passion, vision and expertise has led to phenomenal growth! With more than 500+ talented professionals and offices across the globe, Milhouse offers a dynamic work environment where there is no limit to what you can achieve if you are willing to go after it.

Our people are the cornerstone of our organization, and key to our success. Join a remarkably talented team that shares a passion for what they do and a vision for improving communities around the world through innovative engineering and construction. Click here to see who we are, and how our people drive our culture each & every day.

Click here to see all of our awards and how many times we've won Chicago’s 101 Best & Brightest Companies to Work For!

Important Notice to US Applicants

Milhouse Engineering and Construction, Inc. is an at-will employer.

We are an Equal Opportunity Employer.