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Director, Project Accounting

Location: Champaign, IL

Posting Locations: Champaign, Lisle, Normal, Peoria, Springfield, IL; Dallas, TX; St. Louis, MO; Waukee, IA

Job ID: 3637

Openings: 1

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 across the firm.
• 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 VantagePoint/Vision 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 VantagePoint/Vision, 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 project accounting 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, ensuring timely client delivery.
• Monitor accounts receivable aging across the portfolio; elevate delinquent accounts and support collection efforts in coordination with project leadership.
• Ensure proper handling of retainage, subconsultant pass‑through costs, and reimbursable expenses per contract terms.
• Support the 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 for the firm’s project portfolio, ensuring compliance with applicable accounting standards (ASC 606 / percentage‑of‑completion).
• Review and approve earned value calculations, percent‑complete estimates, and EAC (Estimate at Completion) 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 proactively to leadership.
• 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 VantagePoint (or Vision), providing guidance to Project Accountants, Project Managers, and Group Leaders on system use.
• Oversee the accuracy of the project accounting database, including periodic audits of project setup, labor posting, expense coding, and billing data.
• Partner with IT and finance leadership on system upgrades, module implementations, and workflow enhancements within VantagePoint/Vision.
• Develop and maintain standard operating procedures for all VantagePoint/Vision project accounting processes and train team members accordingly.
• Leverage reporting and business intelligence tools within VantagePoint/Vision (e.g., Reporting, Dashboards, AI) 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 across all service lines.
• 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 matters of 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 to commitments in VantagePoint/Vision.
• Work with Project Managers to monitor subconsultant budget utilization and flag potential overruns before they impact project profitability.
• Coordinate with Accounts Payable to ensure timely and accurate payment of subconsultants in accordance with contract pay‑when‑paid provisions.

Budgeting, Forecasting & Backlog Reporting

• Support the Finance Director in the annual revenue budgeting process by providing project‑level data, pipeline insights, and portfolio‑level 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 or management role overseeing a team of project accountants.
• Experience at a mid‑to‑large AEC (Architecture, Engineering, and/or Survey) 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 (lump sum, T&M, cost‑plus, IDIQ, etc.).
• 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.

Benefits

• 401(k) with 100% Company Match up to 5%
• Medical/Dental/Vision Insurance Plans
• Flexible Spending and Health Savings Accounts
• Short & Long‑Term Disability
• Maternity and Paternity Leave
• Professional Development and Training
• Mentoring Program
• Paid Time Off
• Wellness/Fitness Reimbursements
• Pet Insurance Plan
• Hybrid Work Program

Salary Range: $150,000 - $220,000

Statement on Diversity and Inclusion

Farnsworth Group is a collection of employees with unique backgrounds and perspectives that all come together to make us a better Company. It is our goal to recruit, hire, develop, retain, and promote a diverse group of people. Join us… and let’s make a difference, together.

Farnsworth Group, Inc. is proud to be an M/F Disabled and Veteran EEO/AA employer.