Project Controller

Hitachi - South Brunswick Township, NJ

Full-time

Onsite - South Brunswick Township, NJ

Electrical Equipment, Appliance, and Component Manufacturing

About the position

The Project Controller plays a crucial role in supporting Project Managers and the Local Product Group Manager in all financial and commercial matters, actively driving the financial performance of individual projects and the operating unit. This position is integral to ensuring that financial aspects are well-managed throughout the project lifecycle, from the tender stage to project execution and completion. The Project Controller is responsible for providing financial insights during the tender stage, assisting in negotiations, and identifying risks and opportunities during local tender risk reviews. During project execution, the Project Controller will contribute to the project execution plan, ensuring that project budgets are maintained and optimized for cash flow, revenue, and profit margins. This role involves overseeing currency risks, bonds, guarantees, and tax issues, ensuring that all financial aspects are accurately reflected in SAP, including milestone planning, billing, estimated costs, and cash flow forecasts. Monthly project reviews will be conducted to monitor risks and opportunities, ensuring timely implementation of required mitigation actions. In terms of project accounting, the Project Controller must understand the principles of project cost accounting, prepare project invoices, and ensure the correctness of profit and loss statements. They will also support claim management and monitor follow-ups with customers, consortia partners, and suppliers. Additionally, the Project Controller will establish the annual budget for the operating unit, report on progress, and participate in strategic planning discussions to guide the business towards profitable growth. Compliance with corporate governance and internal controls is essential, as is living Hitachi Energy's core values of safety and integrity.

Responsibilities

• Support the tender manager on financial aspects during the tender stage.
• Provide input to negotiations on commercial issues.
• Identify and emphasize risks and opportunities in local tender risk reviews.
• Provide input to the project execution plan on financial aspects.
• Ensure that project budgets are up to date and maintained throughout the project's life cycle.
• Drive optimization of project cash flow, revenue, and profit margins with Project Managers.
• Oversee currency risk, bonds and guarantees, and tax issues.
• Prepare and conduct monthly project reviews with Project Managers.
• Identify opportunities and risks, and monitor timely implementation of required mitigation actions.
• Ensure all financial aspects of every project are accurately reflected in SAP.
• Verify at project completion that all performance obligations have been delivered according to contract and that costs have been correctly recorded.
• Understand the principles of project cost accounting, including criteria for revenue recognition.
• Prepare project invoices, financial accounting, and reporting.
• Be responsible for the correctness of project profit and loss statements, cash flow, and forecasts.
• Provide support on claim management, back-charges, and insurance cases.
• Establish the annual budget for the operating unit and report monthly progress to management.
• Identify deviations and define countermeasures to achieve annual targets.
• Participate in strategic planning discussions and translate results into financial plans.
• Enforce adherence to corporate governance, integrity, assurance, and internal controls.

Requirements

• Bachelor's degree in finance or a related field.
• 5+ years of financial project-based experience.
• Knowledge of IFRS and J-SOX standards.
• Proficiency in SAP.