Financial Risk Manager Jobs in Peoria, IL (NOW HIRING)

FarnsworthGroup is seeking a Director of Project Accounting. This is a senior‑level leader responsible for overseeing all project accounting operations across the firm’s architecture, engineering, and survey practice groups. The role manages a team of 10–15 Project Accountants who serve as the primary financial resource for Group Leaders and Project Managers throughout the full project lifecycle from contract setup and invoicing through revenue recognition and closeout.

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

• 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.

• 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.

• 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; escalate 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.

• 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 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 such as 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.

• 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.

• 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.

• Education: Bachelor’s degree in Accounting, Finance, Business Administration, or a related field required.
• Certification: CPA or CMA designation a plus, but not required.
• Experience: Minimum 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 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.
• Familiarity with government and federal contracting billing requirements, including FAR‑compliant invoicing, a plus.
• Expert‑level proficiency in Deltek VantagePoint or Deltek Vision; 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.

• 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 (Salary determined by education, experience, knowledge, skills, and abilities of the applicant and internal and external equity).

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.

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