What are the responsibilities and job description for the Senior Project Accountant position at The Bayou Companies?
Company Description
Founded in 1942, The Bayou Companies is a recognized leader in onshore pipe coatings and offshore coatings and insulation, specializing in highly complex solutions for the oil & gas industry. Over decades, Bayou has built a reputation for reliability and innovation, continuously enhancing its capabilities to meet evolving industry demands. Located in New Iberia, Louisiana, Bayou's state-of-the-art facilities and expansive storage areas ensure seamless logistics and efficient operations for its customers.
Role Description
This is a full-time, on-site role for a Senior Project Accountant based in New Iberia, LA. The Senior Project Accountant will oversee project-related financial activities, including budget management, cost analysis, and reporting. Responsibilities include tracking project expenses, reconciling accounts, preparing financial statements, and collaborating with project managers to ensure accurate financial documentation. The role also involves ensuring compliance with accounting policies and providing insights on project performance for improved decision-making.
Key Responsibilities
- Own and manage percentage-of-completion (POC) accounting across multiple active projects.
- Calculate and analyze revenue recognition, cost-to-complete estimates, and project margins.
- Monitor project performance against budgets, forecasts, and backlog.
- Ensure compliance with applicable accounting standards and internal policies for project revenue recognition.
- Prepare and review project WIP schedules, over/under billings, and related reconciliations.
- POC & Revenue Recognition
Project Financial Management
- Track project costs, commitments, and forecasted spend throughout the project lifecycle.
- Partner with project managers to review cost estimates, change orders, and margin projections.
- Identify risks, cost overruns, and margin erosion early, and provide actionable insights.
- Analyze backlog composition, profitability, and revenue timing.
Reporting & Close Process
- Lead monthly project accounting close activities, including revenue accruals and cost adjustments.
- Prepare financial reports, variance analyses, and executive summaries related to project performance.
- Maintain accurate project financial records and supporting documentation.
- Support audit requests and provide documentation related to revenue recognition and project accounting.
Process Improvement & Controls
- Develop and improve project accounting processes, controls, and reporting tools.
- Ensure data integrity between project management systems and financial systems.
- Help standardize forecasting, cost tracking, and project review procedures.
- Support implementation or enhancement of ERP or project accounting systems, as needed.
Cross-Functional Collaboration
- Serve as a financial partner to operations, project management, and senior leadership.
- Provide guidance on financial implications of project decisions, contract terms, and change orders.
- Support budgeting, forecasting, and long-range planning for project revenue and costs.
Manufacturing Cost Accounting Integration
- Ensure accurate integration between project accounting and standard/actual cost systems.
- Analyze material usage variances, labor variances, and manufacturing overhead absorption.
- Partner with Plant Finance and Operations to review production cost performance.
- Support inventory valuation accuracy and ensure proper treatment of work-in-process inventory.
- Assist in evaluating capital expenditures and asset capitalization related to manufacturing projects.
Requirements:
Education
- Bachelor’s degree in Accounting or Finance required
- CPA or CMA preferred
Experience
- 5–8 years of progressive accounting experience
- Strong experience in manufacturing or industrial environments
- Direct experience with Percentage of Completion (POC) accounting
- Experience with WIP reporting and cost-to-complete forecasting
- Familiarity with inventory accounting and standard costing systems
Technical Skills
- Advanced knowledge of GAAP
- Strong understanding of manufacturing cost accounting principles
- Advanced Excel skills (financial modeling, variance analysis)
- Experience with ERP systems (Infor, Oracle, JD Edwards, Epicor, etc.)