Commercial Executive Jobs Opening in Blackstone Engineering Contract LLP at Andheri West, Mumbai

Job Summary:

The Commercial Executive will play a critical role in managing the financial operations of construction projects, ensuring that the financial status of projects is tracked, monitored, and aligned with the business objectives. This role is essential for maintaining healthy cash flows, preparing accurate financial forecasts, and identifying financial risks. The ideal candidate will be responsible for managing project costs, budgeting, receivables, payables, and ensuring the timely execution of financial reports to support key decision-making in the company’s construction projects.

Key Responsibilities:

1. Cash Flow Management and Forecasting:

• Monitor and manage cash flows: Oversee cash flow projections for ongoing construction projects, ensuring adequate liquidity to meet operational and project needs.
• Funds forecasting: Work closely with project managers and senior financial leaders to forecast funds required for different stages of construction projects and align these forecasts with cash availability. Liaise with the central finance team in Pune to align with financial release protocols.
• Ensure timely payments: Facilitate payments and track project milestones, ensuring that the required funds are available at each critical juncture of project timelines.

2. Receivables & Payables Management:

• Follow-up on receivables: Proactively follow up with clients and project stakeholders to ensure timely collection of receivables. Address any delays or discrepancies to maintain smooth cash flow for projects.
• Payables tracking and management: Oversee and ensure timely settlement of payables to vendors, subcontractors, and suppliers in accordance with contractual terms and payment schedules.
• Dispute resolution: Work with internal and external stakeholders to resolve any disputes related to receivables or payables, ensuring that contractual terms are met and financial commitments are upheld. 

3. Budget Tracking & Financial Controls:

• Track and monitor project budgets: Work closely with project managers to ensure that construction projects stay within budget, identifying any potential over-expenditures or cost overruns early on.

• Cost tracking: Regularly review project expenses to identify deviations from the original budget, ensuring that cost control measures are implemented effectively.
• Implement financial controls: Establish financial controls and best practices to monitor spending, prevent unauthorized costs, and enhance the overall financial integrity of construction projects.

4. Cost Management and Reporting:

• Update cost management reports: Maintain and update cost management reports regularly. These reports should detail the costs incurred to date and track the estimated future costs of each project.
• Estimated Cost to Complete (ECTC): Collaborate with project teams to accurately calculate and update the Estimated Cost to Complete for each project, ensuring that financial forecasts align with project progress and timelines.
• Fortnightly reports: Prepare and present detailed fortnightly financial reports that analyze the status of projects, including budget tracking, cash flow projections, receivables, payables, and other key financial metrics.
• Variance analysis: Identify variances between planned budgets and actual costs, providing detailed analysis on the causes of variances and recommending corrective actions.

5. Financial Health and Risk Forecasting:

• Financial health reports: Develop regular reports that offer a comprehensive view of each project & the company's financial health, detailing cash flow, project costs, and forecasts.
• Risk identification: Identify financial risks in ongoing construction projects, such as cost overruns, delays, or changes in scope, and communicate these risks to senior management. Trigger submission of Contract amendment requests to the concerned project clientele & follow-up with project team for approvals.
• Stakeholder engagement: Work closely with senior financial leaders, project managers, and other stakeholders to provide recommendations on financial adjustments, cost-saving initiatives, or reallocation of funds to mitigate risks.

6. Collaboration and Communication:

• Cross-functional collaboration: Collaborate with internal departments, such as project management, procurement, and finance, to gather accurate financial data and ensure timely financial reporting.
• Client and vendor communication: Act as the liaison between the company and external clients, contractors, suppliers, and vendors to ensure financial agreements are met and financial data is accurate.
• Stakeholder presentations: Present financial findings and forecasts to senior leadership, making clear and concise recommendations regarding the financial status of projects.

7. Compliance and Documentation:

• Ensure compliance: Ensure that all financial activities related to construction projects are compliant with internal financial policies, industry regulations, and applicable laws.
• Document management: Maintain organized financial documentation for each project, including contracts, invoices, receipts, and payment records, ensuring all documents are easily accessible for auditing purposes.

1. What are the job requirements to apply for this Commercial Executive job position?
   
   • Ans: A candidate must have a minimum of fresher as an Commercial Executive


2. What is the qualification for this job?
   
   • Ans: The candidate can be a Graduate from any of the following: Diploma, BE/B.Tech, MBA/PGDM
   
   
3. What are the salary requirements for this job?
   
   • Ans: The salary range is between 400000 and 600000 Yearly. The Salary will depend on the interview. This Commercial Executive is a Full Time in Mumbai.
   
   
4. What is the hiring Process of this job?
   
   • Ans: The hiring process all depends on the company. Normally for an entry level, hiring the candidate has to go for Aptitude, GD (If they look for communication),Technical test and face to face interviews.
   
   
5. This Commercial Executive is a work from home job?
   • Ans: No ,its not a Work from Home Job.
   
   
6. How many job vacancies are opening for the Commercial Executive position?
   
   • Ans: There are immediate 1 job openings for Commercial Executive in our Organisation.