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PROJECT ACCOUNTANT

Role Summary

The Project Accountant will report directly to the Chief Finance Officer (CFO), with a dotted-line reporting relationship to the Project Director. The role will be responsible for overseeing the financial management of a major construction project throughout its entire lifecycle.

The successful candidate will play a key role in maintaining financial integrity, accountability, and compliance across the project. Working closely with the CFO, Project Director, and Project Commercial Manager, the Project Accountant will provide accurate financial information, monitor project budgets, manage financial risks, and support effective decision-making to ensure that the project is delivered within the approved budget and agreed timelines.

The position will involve financial planning, budgeting, cash flow management, expenditure monitoring, accounting, tax compliance, asset management, financial reporting, procurement and contract oversight, risk management, stakeholder engagement, and project financial close-out.

Key Responsibilities

1. Financial Planning and Budget Management

The Project Accountant will establish appropriate financial controls and processes to support effective management of project costs.

Key responsibilities include:

• Establishing project cost baselines against which financial performance can be monitored.

• Implementing appropriate budget controls throughout the project lifecycle.

• Monitoring committed costs, actual expenditure, and forecast costs.

• Tracking financial performance against approved project budgets.

• Preparing variance analysis to identify differences between planned and actual financial performance.

• Providing recommendations to address identified budget variances.

• Supporting the project team in maintaining effective financial discipline.

• Monitoring financial trends that may affect the project budget.

• Providing accurate financial information to support project planning and decision-making.

The role will ensure that project expenditure remains appropriately controlled and that potential budget issues are identified at an early stage.

2. Cash Flow and Funding Management

The Project Accountant will be responsible for supporting effective project cash flow and funding management.

Responsibilities include:

• Preparing cash flow forecasts for the project.

• Developing rolling cash flow projections to support liquidity planning.

• Forecasting the project’s future cash requirements.

• Working with the project team to manage funding disbursements.

• Monitoring funding against project milestones.

• Coordinating drawdowns or capital calls where required.

• Identifying potential liquidity requirements at an early stage.

• Supporting treasury planning through accurate cash flow information.

• Monitoring foreign exchange and inflation-related risks.

• Assessing the potential effect of FX and inflation movements on project cash flows.

• Recommending appropriate deployment of available funds.

Effective cash flow management will help ensure that sufficient funding is available to meet project obligations as they arise.

3. Cost Monitoring and Payment Management

The Project Accountant will monitor project expenditure and ensure that payments are properly reviewed and processed.

Key responsibilities include:

• Tracking project expenditures against approved budgets.

• Identifying potential cost overruns at an early stage.

• Reviewing contractor invoices.

• Reviewing consultant invoices and payment certificates.

• Checking supporting documentation accompanying payment requests.

• Confirming accuracy and compliance with ETIMS requirements.

• Ensuring that payments are processed within the timelines established by contracts.

• Working with project and finance teams to resolve payment-related queries.

• Maintaining appropriate financial records relating to project expenditure.

The role will ensure that project payments are supported by appropriate documentation and comply with applicable contractual and financial requirements.

4. Accounting and Financial Controls

The Project Accountant will maintain accurate accounting records for all project-related financial transactions.

Responsibilities include:

• Recording project transactions accurately in the ERP/FIS system.

• Maintaining project-specific general ledger accounts.

• Ensuring financial transactions are recorded on a timely basis.

• Maintaining appropriate accounting controls over project transactions.

• Ensuring completed assets are capitalised within the required timelines.

• Applying relevant accounting standards when recording and capitalising project assets, including IFRS requirements.

• Supporting the overall integrity and accuracy of project financial records.

5. Tax Compliance

The successful candidate will ensure that project financial activities comply with Kenyan tax laws and statutory requirements.

Key responsibilities include:

• Ensuring compliance with applicable Kenyan tax legislation.

• Ensuring tax-related transactions are accurately captured.

• Reconciling input VAT balances and transactions.

• Preparing and supporting input VAT claims.

• Following up on VAT refunds.

• Maintaining appropriate documentation supporting tax transactions and claims.

• Liaising with tax authorities where required.

• Working with internal stakeholders to resolve tax-related matters.

• Ensuring that project financial activities remain aligned with applicable statutory requirements.

6. Movable Asset Management

The Project Accountant will work with the project team to ensure that movable assets acquired through the project are properly tracked, recorded, and accounted for.

Responsibilities include:

• Maintaining an accurate and current register of movable assets acquired for the project.

• Coordinating the tagging of project assets.

• Ensuring assets are properly recorded.

• Coordinating the transfer of commissioned assets to the Fixed Asset Register.

• Ensuring supporting asset documentation is complete and properly maintained.

• Supporting appropriate safeguarding of project assets.

• Ensuring asset accounting is consistent with applicable asset management policies.

• Supporting accurate asset records throughout the project lifecycle.

7. Financial Reporting and Compliance

The Project Accountant will prepare and maintain financial reports required by internal and external stakeholders.

Key responsibilities include:

• Preparing monthly financial reports.

• Preparing quarterly financial reports.

• Preparing annual financial reports.

• Ensuring reports are accurate and submitted within required timelines.

• Reconciling the budget monitoring tool with the ERP/FIS on a monthly basis.

• Investigating differences identified during reconciliations.

• Resolving financial variances appropriately.

• Ensuring compliance with donor requirements where applicable.

• Ensuring compliance with regulatory requirements.

• Ensuring adherence to internal financial policies and procedures.

• Supporting internal and external audits.

• Providing accurate financial information to relevant stakeholders.

8. Procurement and Contract Oversight

The Project Accountant will work closely with the procurement function to support appropriate financial oversight of suppliers and contracts.

Responsibilities include:

• Collaborating with procurement during vendor selection.

• Supporting financial due diligence on prospective vendors.

• Reviewing the financial provisions included in contracts.

• Monitoring compliance with agreed financial terms.

• Identifying financial issues arising from contractual arrangements.

• Supporting the project team in maintaining appropriate financial oversight of contracts.

9. Financial Risk Management

The Project Accountant will support the project management team in identifying and managing financial risks.

Key responsibilities include:

• Identifying potential financial risks affecting the project.

• Assessing the potential financial impact of identified risks.

• Proposing appropriate mitigation measures.

• Maintaining a financial risk register with the project management team.

• Monitoring identified risks throughout the project lifecycle.

• Providing financial information and analysis to support risk-related decision-making.

10. Stakeholder Engagement

The role will require regular interaction with both internal and external stakeholders.

The Project Accountant will:

• Liaise with internal departments on project financial matters.

• Work with external consultants and contractors.

• Engage with donors where required.

• Provide financial information and clarification to relevant stakeholders.

• Build effective working relationships across the multidisciplinary project team.

• Provide financial insights that support strategic project decisions.

• Communicate financial matters clearly and professionally.

11. Project Financial Close-Out

At the completion of the project, the Project Accountant will coordinate the financial closure process.

Responsibilities include:

• Coordinating the financial close-out of the project.

• Reconciling final budgets against actual expenditures.

• Reviewing outstanding financial commitments.

• Verifying that contractual financial obligations have been completed.

• Preparing final financial reports.

• Supporting the capitalization of completed assets.

• Supporting the formal handover of project assets.

• Documenting financial performance outcomes.

• Recording lessons learned from the project’s financial management.

Qualifications and Experience

12. Academic and Professional Qualifications

The successful candidate should possess:

• A Bachelor’s degree in Accounting, Finance, or a related discipline.

• CPA (K), ACCA, or an equivalent professional accounting qualification.

• A Master’s degree in Finance, Accounting, or Project Management will be an added advantage.

13. Professional Experience

The candidate should have:

• At least seven years of progressive accounting experience.

• A minimum of three years of experience in project accounting.

• Demonstrated experience managing finances for large-scale construction or infrastructure projects.

• Experience in donor-funded or non-profit organisations will be highly desirable.

14. Technical and Professional Skills

The successful candidate should demonstrate:

• Strong financial analysis capabilities.

• Strong financial reporting skills.

• Proficiency in accounting software such as Microsoft Dynamics, SAP, or similar ERP systems.

• Excellent knowledge of Kenyan tax laws.

• Strong understanding of applicable financial regulations.

• Strong interpersonal and communication skills.

• High levels of integrity.

• Excellent accuracy and attention to detail.

• Ability to work independently.

• Ability to work effectively within a multidisciplinary team.

15. Eligibility

This position is open to Kenyan citizens only.

The ideal candidate will combine strong accounting expertise with substantial project finance experience, particularly in large-scale construction or infrastructure projects. The successful individual should be able to manage complex financial processes, maintain accurate records, monitor project costs, support compliance, identify financial risks, and provide reliable financial information throughout the project lifecycle.

Application

Go to Aga Khan Education Service, Kenya (AKESK) on krb-xjobs.brassring.com to apply