Project Cost Analyst

6 months ago

Vancouver, Canada Invinity Energy Systems Full time

Company Description

In the world of energy, no area is more exciting than large-scale energy storage. From a few installations a decade ago to a market Barclays Bank says is “likely to approach the trillions,” energy storage makes wind and solar available around the clock. Invinity is taking a leading role by providing a safe, reliable, and economical alternative to conventional storage solutions.

**About Us**: Invinity Energy Systems (LON: IES)

Invinity Energy Systems is the leading global manufacturer of modular vanadium flow batteries for utility-scale energy storage deployments that unlock low-cost, low-carbon renewable energy on demand for businesses, industry, and electricity networks around the world. Safe, reliable, durable, and economical, Invinity's flow batteries are the most commercially proven alternative to lithium-ion and help to accelerate global progress towards Net Zero. We have commercial projects in Europe, North America, Asia, and Australia, with office locations in Vancouver, BC and Bathgate, Scotland, London, UK, and San Francisco, California.

**Job Description**:
**Position Overview**:
We are seeking a detail-oriented and analytical Project Cost Accountant to join our Finance team. Invinity is engaged in the design, manufacture, and sale of its modular vanadium flow batteries to its customers. Each sale of the product is regarded as a project which needs careful financial management to ensure that gross margins are maximized whilst allowing for project delivery to be best in class.

**Qualifications**:
**Responsibilities**:

- Cost Tracking and Analysis: Monitor project expenses, track costs, and analyze variances between budgeted and actual expenditures. Identify trends, discrepancies, and potential cost-saving opportunities.
- Budget Management: Collaborate with project managers to develop accurate project budgets. Monitor budget adherence throughout the project lifecycle and provide timely updates on financial status.
- Project Reporting: Prepare regular and ad-hoc financial reports for project stakeholders, including project managers and senior management. Provide insights into financial performance, risks, and opportunities.
- Forecasting: Assist in the creation of financial forecasts for ongoing and upcoming projects. Utilize historical data and current trends to predict project costs accurately.
- Cost Allocation: Allocate project costs to appropriate cost centers, ensuring accurate distribution across various departments or functions.
- Variance Analysis: Investigate and explain significant budget and cost variances, collaborating with cross-functional teams to identify underlying causes and recommend corrective actions.
- Month-end Close: Participate in the month-end closing process, ensuring that project-related transactions are accurately recorded, and project-related accounts are reconciled.
- Compliance: Ensure adherence to relevant accounting standards and company policies. Maintain documentation to support project-related financial transactions.
- Process Improvement: Continuously evaluate and enhance project cost accounting processes, aiming for increased efficiency, accuracy, and alignment with industry best practices.
- Cross-functional Collaboration: Collaborate closely with project managers, procurement teams, and other stakeholders to ensure smooth communication and alignment on project costs and financial objectives.
- Audit Support: Assist with internal and external audits by providing relevant project cost information, documentation, and explanations as needed.

**Qualifications**:

- Bachelor's degree in Accounting, Finance, or a related field.
- Master's degree or professional certification (e.g., ACCA, CPA, CMA, AICPA, CIMA)
- Minimum of 5 years experience with a focus on project cost accounting, financial analysis, or related roles.
- Strong understanding of accounting principles, cost allocation methodologies, and financial reporting.
- Excellent analytical skills with the ability to interpret complex financial data and present insights effectively.
- Detail-oriented mindset with a commitment to accuracy and data integrity.
- Effective communication and interpersonal skills to collaborate across various departments and levels of the organization.
- Problem-solving aptitude with the ability to identify issues and recommend solutions.
- Knowledge of project management concepts and terminology is advantageous.

Additional Information

Is helping the world transition to renewable energy exciting to you? Join us Come and be part of a dynamic, global company where the team works with passion but not ego.

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