Lend direct support to Project Managers, Operations, Finance, Accounting, Sales, and Credit & Collections representatives for the management of commercial terms and risks for a portfolio of key projects and orders from booking through commissioning. The primary objective of this position is to identify and mitigate commercial risks on contracts, maximize cash flow, drive SOX compliance, and remove barriers for revenue recognition on contracts over $1MM for regional areas supported.
This role is unique in that it has an overarching commercial contractual view of all projects, whereas Project Managers are focused on individual projects. However, the responsibility and accountability of D-R Project Managers for the overall commercial and financial performance of their assigned projects is in no way diminished by this role. This position, furthermore, provides an independent financial control point within the Project Leadership group, as required by Sarbanes-Oxley.
Management of a portfolio of key projects and orders for Completes, Revamps, Parts, and Engineered Solutions including commercial terms between D-R and the client, D-R and its suppliers, and inter-company for multi-facility or multi-divisional orders.
Position Qualifications (Required and Preferred):
- BA or BS
- A minimum of 5 years applicable business experience
- Project Management skills– OEM and Service
- Contract experience with terms and conditions familiarity
- Systems Oriented PC skills
- Exceptional organization skills
- Referential Leadership skills
- Strong Communication skills
- Customer Service skills
- Negotiation skills
- Technical product knowledge
- Strong independent work ethic
- Comfortable working across matrix organizations
Position Responsibilities and Duties:
- MBA or Legal degree
- Financial acumen and Sarbanes-Oxley familiarity
- INCOTERM and Revenue Recognition familiarity
- Knowledge of Contract Law
- Lean and/or PI experience
- Process Innovation experience
Management of commercial terms and conditions from booking through delivery:
- Review contract Terms and Conditions (T’s & C’s) in client Purchase Order’s (PO’s) prior to booking to support order acknowledgment and ensure they agree with the negotiated T’s & C’s in proposal. If they are unclear or do not match then highlight to Sales, Legal, Operations, or Project Management as necessary and assist driving PO revisions with the client.
- Review the contracted commercial and shipping terms to confirm proper forecasting of revenue recognition minimizing contingent revenue events. Support the creation of a summary of key terms, cash flow milestones, and units of accounting for contract Commercial Reviews prior to booking. Provide day to day T’s & C’s interpretation support to Project Managers on contracts.
- Identify appropriate commercial terms and conditions to flow through to suppliers before orders are let including, but not limited to, payment terms, warranty terms, shipping terms, and liquidated damages. If client payments to D-R are tied to supplier deliverables, make sure supplier contract has the appropriate provisions to support this.
- Provide feedback to the regional Sales team on opportunities for improved contract language to reduce risk and improve cash flow and prevent barriers to revenue recognition.
- Assist Project Managers to resolve project execution issues that require modification of commercial terms to eliminate/mitigate D-R financial risk. Example : Assist Project Manager to proactively seek client PO modification to allow partial shipments if an item on a common PO line with other items could be delayed for any reason.
- Assist Project Manager to proactively resolve shipping terms that may adversely affect D-R cash flow or revenue recognition. Example : D-R revenue recognition that’s dependent upon Client-arranged shipping at a critical time and/or with elevated business risks due to limited availability or other complicating factors (e.g. special transport by a third party required, storage arrangements, port deliveries, complicated permitting, strikes, weather, etc).
- Support project management and SCM in the resolution of any commercial term issues that may arise during contract execution or commissioning. Coordinate with the project managers to inform the Manager, Project Leadership and Director, or SCM of pending issues that may necessitate escalation to resolve through steps such as:
- D-R Director or higher dialogue with a client, providing an appropriate brief on D-R leverage and risks around efforts of getting an invoice paid.
- DR Director or higher dialogue with inter-company management.
- SCM withholding payment to a supplier.
- Track all progress invoices (including post-delivery milestones) and payables for the portfolio of assigned contracts and orders. Coordinate with the local Operations Controller and the Operations Director to formulate a macro priority list of contract milestone opportunities and risks to accelerate cash flow in a given quarter.
- Based on this priority list, coordinate with Project Mangers to ensure that engineering, drafting, manufacturing, supply chain, suppliers, and other D-R division priorities are aligned appropriately for timely progress payment invoicing and cash collection. Examples : 1) Review milestone payments tied to ordering roughs, expedite jobs with biggest cash flows; 2) review backlog in documents group and prioritize work based on maximizing D-R cash flow where milestone payments are tied to completion (versus doing work 1 st come, 1 st serve).
- Understand in detail the expected completion of milestones on all assigned projects and orders and facilitate the expediting of the invoicing process to ensure invoices are issued within 24 hours of milestone completion.
- Support Credit & Collections and Project Managers in the resolving barriers to collection of receivables, levy of late payment fees, direct client negotiation as needed, or invoking delay in performance rights as necessary to negate delivery liquidated damages when contractually able.
Dresser-Rand is An Equal Opportunity/Affirmative Action Employer
- With support from Operations PI, SCM, and the Regions, value stream map the total cash collection
cycle to drive continuous improvement by use of systems, removing waste from the value stream, creating processes and procedures, etc.
No agency submissions please. NOTE: Resumes submitted to any Dresser-Rand employee without a current, signed and valid contract in place with the Dresser-Rand Recruiting team in Houston Texas will become the property of Dresser-Rand and no search fees will be paid
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