Identifies project financial risks, cost overruns, and discrepancies that require corrective action.
Exercises independent judgment when evaluating construction pay applications and financial documentation.
Communication & Influence:
Serves as a key liaison among developers, contractors, architects, lenders, consultants, and accounting teams.
Communicates project financial status and risk exposure to management and stakeholders.
Leadership & Talent Management:
May coordinate the activities of project accountants, consultants, or external reviewers.
Supports process improvements and training related to construction accounting and draw administration.
Primary Responsibilities
Reviews and validates construction pay applications against the approved Schedule of Values (SOV).
Confirms costs are billed to the appropriate budget and contract categories.
Identifies and prevents front-loading or overbilling of project costs.
Verifies percentage completion through review of prior pay applications, progress reports, site inspection reports, and third-party validations.
Coordinates with owners' representatives, architects, inspectors, lender consultants, and project controls personnel to validate construction progress.
Reviews and collects partial lien waivers and releases from contractors, subcontractors, and suppliers.
Ensures prior payments have been properly disbursed to subcontractors and vendors.
Protects the developer from mechanic's lien exposure through proper documentation and compliance.
Reconciles change orders and verifies that all billed changes are formally approved and contractually authorized.
Ensures no unauthorized or pending change order work is included in payment requests.
Calculates and verifies retainage withholding in accordance with contractual requirements.
Performs arithmetic validation of pay applications, including formulas, totals, prior payments, and remaining balances.
Reviews supporting documentation, including subcontractor invoices, payroll reports, schedules, and construction backup.
Tracks project budgets against actual expenditures and identifies potential cost overruns or financial risks.
Monitors project burn rates and flags signs of financial stress or budget deviations.
Coordinates architect certifications and lender inspection approvals for draw requests.
Ensures compliance with lender draw requirements, loan covenants, and contingency tracking.
Coordinates with internal accounting and finance teams on project funding and cash flow management.
Approves finalized draw packages for funding authorization and payment processing.
Prepares project financial reports and communicates risk exposure to management.
Performs other related duties as assigned.
This job description provides a general representation of job requirements rather than a comprehensive list of all responsibilities or work activities. The contents of this document and related job requirements may change at any time, with or
Additional Information
If you're passionate about building a better future for individuals, communities, and our country-and you're committed to working hard to play your part in building that future-consider WGU as the next step in your career.
Driven by a mission to expand access to higher education through online, competency-based degree programs, WGU is also committed to being a great place to work for a diverse workforce of student-focused professionals. The university has pioneered a new way to learn in the 21st century, one that has received praise from academic, industry, government, and media leaders. Whatever your role, working for WGU gives you a part to play in helping students graduate, creating a better tomorrow for themselves and their families.
The salary range for this position takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs.
At WGU, it is not typical for an individual to be hired at or near the top of the range for their position, and compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the current range is:
Grade: Professional 309
Pay Range: $80,300.00 - $120,400.00
Job Description
Oversees construction draw accounting, project cost verification, developer risk management, and financial controls for construction and development projects. Validates construction pay applications, monitors project budgets, coordinates with lenders, architects, contractors, and consultants, and ensures accurate financial reporting and compliance with contractual and loan requirements.
Wgu · Salt Lake City, UT