WHAT DOES A FINANCE PROJECT MANAGER DO?
Published: Mar 21, 2025 - The Finance Project Manager spearheads complex, multidisciplinary projects, building cross-functional relationships and aligning with business visions. Oversees financial integrations into SAP, ensuring robust project reporting and compliance with global standards. Implements strategic improvements, optimizing financial performance and enhancing operational efficiency.
A Review of Professional Skills and Functions for Finance Project Manager
1. GBPO Finance Project Manager Duties
- Global Oversight: Responsible for providing global oversight and governance for GBPO.
- Team Support: Support the existing team, ensuring effective delivery of all the FY23 financial requirements.
- Project Management: Project manage all the FY23 financial requirements to completion compliantly by the required milestones and deadlines, e.g., vendor PO and contracts.
- Risk Management: Understand cross-group dependencies and maintain a risk log and a risk mitigation log.
- Progress Reporting: Report on weekly progress, driving process standardization while facilitating any exceptions.
- Stakeholder Partnership: Maintain effective working relationships and partner with the GBPO team, key support functions, and other business stakeholders.
- Process Execution: Ensure that all processes are executed efficiently, effectively, and timely for all in-scope requirements.
- Feedback Utilization: Measure and use feedback to prioritize and continually add value to the business.
- Continuous Improvement: Manage each process effectively and identify any improvements as part of a continuous improvement philosophy.
- Issue Management: Manage any issues by ensuring root cause analysis completion and associated corrective and prevention activities to prevent issue reoccurrence.
2. Finance Project Manager Details
- Innovation: Consistently propose innovative ideas to improve the project KPIs (Sales / Margin / Cash) to the Project Manager
- Report Preparation: Accurately prepare the Project Review twice a year
- Financial Oversight: Review regularly and ensure the accuracy and consistency of all financial KPIs of the projects (Sales, Estimate at Completion, Cash Collection…) in close relationship with other operational and support functions
- Reporting Contribution: Contribute to monthly project reporting process (monthly reviews of actuals vs. Budget, short-term re-forecasting…)
- Finance Management: Drive the Shared Service Center to ensure proper, accurate, and consistent finance reporting
- Financial Analysis: Provide ad-hoc financial analysis and support Tender activity
- Compliance Assurance: Ensure that all financial processes and internal controls, including DoA, are implemented, robust, and compliant related to the field of activity
- Accounting Liaison: Liaise when needed with related accounting teams for the accuracy of the actual and cost-to-complete data and for the invoicing process
- Cash Management: Drive the cash collection process in collaboration with the Commercial and Project Management team and in adequation with the cash delivery plan
- Financial Processes: Participate in hedging and treasury processes (bonds & guarantees…).
3. Finance Project Manager Responsibilities
- Project Leadership: Lead various finance and business projects, such as system migration
- Analytical Skills: Perform ad-hoc analysis to support business decision-making
- Project Management: Create project charters, project plans, resource plans, and cost estimates as well as manage project resources to achieve project deliverables
- Financial Oversight: Manage all financial aspects of a project such as accounting, reporting, cost control, and budget
- Relationship Management: Manage internal and external relationships on all finance projects, being the focal point for all project queries
- Resource Organization: Organize all relevant resources to ensure the project is managed on time
- Program Development: Develop and define programs of work and drive assigned projects to meet the objectives and timeframe of the projects
- Collaborative Working: Work both independently and in conjunction with both other finance professionals and other departments in the business to deliver on goals
- Influence: Influence key decision-makers and other departments to drive the success of assigned projects
- Progress Reporting: Report on progress and achievements at inappropriate levels of detail to various stakeholders including the board
- Business Partnership: Operate as an internal business partner within the organization and actively drive the preparation of quarterly financial materials for management and Corporate Departments, and ultimately the Board of Directors
- Strategic Management: Manage the preparation and consolidation of specific requirements for different regular and ad hoc topics (e.g., Business Review materials and strategic planning activities together with ON ST) on a monthly/quarterly basis with the aim of optimizing the same
- Cross-Departmental Contribution: Contribute to special cross-departmental and Finance transformation projects and special tasks as well as business case analysis within the Business Controlling team that covers Productivity Controlling, Enterprise Risk Management, and support special topics
- Budget Support: Support the annual budget process for the business unit (planning, consolidation, and delivery)
4. Finance Project Manager Accountabilities
- Reporting Coordination: Responsible for Manufacturing, Fixed Assets, Inventory, and Commitment reporting.
- Group Reporting: Responsible for Detailed Group FAR by Country.
- Accounting Consistency: Ensure consistency of accounting treatment for assets and accounting policies across the Group.
- System Design: Designing and implementing systems for Manufacturing Accounting.
- Process Design: Designing and implementing processes to track Inventory controls and movement postings for Prepayments, Warehouse, GIT, Customs & Duty accounting, and inventory held in Subsidiaries abroad.
- Subsidiary Coordination: Designing and implementing processes for coordination of subsidiaries for consistent FAR/inventory reporting according to strict monthly deadlines back to Head Office.
- Stock Management: Coordination of Periodic Stocktakes across the Group.
- Commitment Tracking: Commitment reporting for all outstanding Group issued & authorized POs not yet paid/delivered.
- System Management: Responsibility for postings to X-ledger business system and Reconciliation of Balance Sheet accounts for Fixed Assets, Inventory, WIP, GIT, Maintenance Support & any other Projects.
- Depreciation Management: Responsibility for postings to X-ledger business system for Depreciation and other necessary P&L-related adjustments originating from FAR adjustments.
- Cost Management: Ensures costs are booked to P&L in the X-ledger business system in line with associated revenue recognition.
- Process Improvement: Seeking continuous improvement and enhancements of current project controls and methodologies.
- Reporting Assistance: Assisting in the preparation of parent company and consolidated accounts at month-end and year-end for both internal reporting and external audit purposes.
- Stakeholder Liaison: Liaising and coordinating with local subsidiary accounting teams and external advisors (accountants & auditors) in various African countries.
5. Finance Project Manager Functions
- Project Management: Plan, execute, and lead complex, multi-disciplinary projects using project management expertise
- Relationship Building: Build relationships across the organization to help move ideas forward and fully understand the vision of the businesses
- Operational Management: Responsible for key operational rhythms, calendars, and processes, collaborating with team members to determine and prioritize opportunities
- Analytical Skills: Perform qualitative and quantitative (data-driven) analyses to solve problems and evaluate value-creation initiatives
- Systems Integration: Support various internal/external applications integration to SAP Finance systems and produce all financial project reporting (forecast cash flow, revenue, gross margin)
- Process Implementation: Implement controls and processes to ensure adherence to a global authorization matrix
- Financial Management: Manage controlling and financial reporting of projects in accordance with accounting policies and internal control rules
- Performance Analysis: Analyze the execution performance and propose action plans to improve contract margin, cash profile, and perform corrective action plans to mitigate identified risks
- Financial Reporting: Involved in the month-end closing activities related to the Finance module in SAP
- Process Improvement: Review business processes, re-identify, and develop new approaches, and drive changes
- Independent Working: Work autonomously and collaboratively to deliver in a time-bound environment
- Stakeholder Engagement: Work alongside stakeholders to run different projects around financial tooling and systems
- Goal-Oriented: Take charge of all project goals, using all available resources to achieve the set goals, even when faced with challenges
- Process Optimization: Create and apply processes to minimize friction and ensure that all team members are working as productively and effectively as possible.