Industrial construction chief financial officer job description
An industrial construction CFO forecasts cash across large plant and warehouse jobs, checks the money side of bids, and keeps the books ready for owner audits, sureties and lenders. The CFO also tracks union benefit obligations, fuel tax claims and equipment costs that a general controller might miss.
By the HireBus team · Updated · Pay data: BLS, May 2025
Median pay, commercial and industrial building contractors · BLS, May 2025
Serve as a strategic financial leader responsible for planning budgets, managing cost analysis, and ensuring optimal cash flow for large industrial builds. Partner with executive leadership to drive financial performance and support sustainable growth in the industrial construction sector.
2. Essential Duties and Responsibilities
Develop and implement comprehensive financial strategies to support industrial construction projects.
Oversee budget planning, cost analysis, and cash flow management for multi-million-dollar projects.
Ensure compliance with financial regulations and internal policies across all projects.
Collaborate with project managers and external stakeholders to optimize resource allocation and project profitability.
Lead financial forecasting and risk management activities to safeguard the company’s financial health.
3. Key Tasks / Daily Activities
Review and analyze daily financial reports to monitor project budgets and expenses.
Conduct regular meetings with project and construction teams to assess financial performance.
Manage cash flow and liquidity arrangements to ensure uninterrupted project operations.
Oversee financial reporting and collaborate with internal and external auditors.
4. Key Performance Indicators (KPIs)
Budget Adherence: Maintain project expenses within 95% of allocated budgets.
Cash Flow Management: Achieve a minimum positive cash flow margin of 10%.
Cost Efficiency: Reduce cost overruns by at least 15% year-over-year.
Financial Reporting Timeliness: Deliver 100% of financial reports by established deadlines.
5. Required Qualifications and Skills
Bachelor’s degree in Finance, Accounting, or a related field; MBA or CPA preferred.
Minimum of 10 years of financial leadership experience, with a background in industrial construction preferred.
Proven expertise in budget planning, cost analysis, and cash flow management.
Advanced proficiency in financial software and ERP systems.
Excellent analytical, communication, and leadership skills.
6. Preferred Experience
Experience working in industrial construction or large-scale build environments.
Demonstrated success in overseeing multi-million-dollar budgets and large teams.
Background in strategic financial planning and risk management within a dynamic industry.
Familiarity with regulatory and compliance issues specific to construction finance.
7. Physical Requirements
Primarily office-based with occasional site visits to industrial construction projects.
Ability to sit or stand for extended periods during meetings and project evaluations.
Occasional lifting of project documentation and portable equipment up to 10 lbs.
8. Work Environment and Schedule
Standard office hours with occasional extended hours during critical project phases.
Some travel required to project sites and for meetings with stakeholders.
On-call availability during major project milestones and financial closing periods.
Collaborative work environment that balances independent analysis with team coordination.
9. Compensation and Benefits
Annual salary range: $150,000 - $225,000 USD, commensurate with experience.
Performance-based bonus structure tied to project financial outcomes.
Comprehensive health, dental, and vision insurance.
401(k) plan with company match and additional fringe benefits.
Flexible work arrangements and professional development opportunities.
10. Company Culture and Overview
We foster a collaborative and innovative environment that empowers employees to grow and succeed.
Our culture values integrity, transparency, and a commitment to excellence in every project.
Emphasis on continuous learning and professional development to drive career advancement.
A supportive workplace where every team member is valued and encouraged to share ideas.
11. How to Apply
If you meet the above criteria and want to be part of a growth-oriented company focused on customer satisfaction, please send your resume to [INSERT EMAIL HERE] or apply online at [INSERT WEBSITE LINK HERE].
Need help filling this role? HireBus posts the ad, Iris interviews every applicant by phone before you do, and you decide who to hire. Start hiring now
Industrial jobs are large, long and often billed at cost. The hard money questions come from owners' auditors, union benefit funds and a yard full of equipment.
Leaving a union pension plan has its own rule
A contractor that contributes to a union multiemployer pension plan can owe withdrawal liability when it stops. Federal law has a special rule for building and construction. When the plan mainly covers construction and nearly all your covered workers do construction work, a full withdrawal happens only if you stop contributing and keep doing the same type of work where the agreement applies, or start it again within five years without rejoining the plan. Model the cost before the CEO changes any craft agreement. Source: U.S. Code: 29 U.S.C. 1383(b), withdrawal liability in the building and construction industry (govinfo).
Fuel burned off the road can earn a tax credit
The IRS treats fuel used in a business, other than in a registered highway vehicle, as off-highway business use. That includes stationary machines such as generators and compressors, plus forklifts, bulldozers and earthmovers. When taxed fuel goes into that use, the business can claim the federal excise tax on Form 4136 or Schedule 1 of Form 8849. Log gallons by machine so the claim holds up. Source: IRS Publication 510: Excise Taxes, off-highway business use and claims.
Cost-plus jobs get audited
When a plant owner pays on cost-plus or time and materials terms, the contract usually lets its auditors review your books. They ask for payroll, labor burden, equipment rates and supplier invoices, job by job. Set up cost codes that match the owner's contract before work starts, so an audit takes days instead of months and approved fees don't get taken back.
Equipment needs its own rate book
Cranes, lifts, welders and generators cost money whether they work or sit. Set an internal hourly rate for each owned machine that covers ownership, repairs and fuel, and charge it to jobs the same way every time. Compare it with rental rates each year to decide what to keep, sell or rent instead.
Big payrolls come before the owner pays
A plant outage or a peak month on a capital job can push weekly payroll far above normal, while the owner pays on its own terms weeks later. Size the credit line to your largest payroll month, not your average one. Agree on billing dates and the invoice format with the owner's accounts payable team before the work starts.
How much industrial construction chief financial officers make
The closest BLS group for industrial construction chief financial officers is chief executives. Chief executives who work for commercial and industrial builders earned a median of $225,550 a year ($108.44 an hour) in May 2025, according to the Bureau of Labor Statistics. That’s above the $213,990 median for chief executives in all industries. About 840 of the 204,350 chief executives in that survey work for commercial and industrial building contractors.
Most CFOs here draw a salary plus a bonus set by each project's financial finish. The BLS figures on this page cover every chief executive at commercial and industrial builders, not only CFOs, so the template's range lands under their median.
Commercial and industrial building contractors
$225,550$225,550 median Middle half $168,640–$347,300 10th–90th $124,070–$499,640
All industries
$213,990$213,990 median Middle half $129,540–$356,200 10th–90th $75,700–$507,730
10th–90th percentileMiddle halfMedianAnnual pay, May 2025. Source: BLS Occupational Employment and Wage Statistics.
Annual pay by percentile
Group
10th
25th
Median
75th
90th
Commercial and industrial building contractors
$124,070
$168,640
$225,550
$347,300
$499,640
All industries
$75,700
$129,540
$213,990
$356,200
$507,730
BLS reports industrial and commercial building contractors together. Post a real range for your market in the ad.
The pay line in the template above is an example from our Role Blueprint. Set yours from these figures and what local companies pay.
Skills to hire for, and what you can teach
Hire for these
Job cost and percentage-of-completion reporting on long contracts
Week-by-week cash forecasting across several large jobs
Has answered owner audits on cost-plus contracts
Knows how union benefit funds bill and audit contractors
Works with the surety, the bank and the outside CPA as one team
Teach these on the job
Your ERP's job cost codes and equipment module
Each owner's billing portal and invoice rules
Fringe benefit rates in your craft agreements
Fuel logs by machine for excise tax claims
Your bonding history and bank covenants
Industrial contractors this size often run job cost in a construction ERP such as Viewpoint Vista, Sage 300 Construction and Real Estate, or CMiC, with an equipment module for owned machines. Many plant owners accept invoices only through a procurement portal like SAP Ariba or Coupa; list the ones your owners use.
Industrial construction chief financial officer interview questions
Two of the 6 questions we'd ask, and what a strong answer sounds like. Ask every candidate the same questions, and rate each answer on your own before you compare notes.
Situational · Unapproved change orders
A project has a large pile of extra work the client hasn't approved yet. How do you treat it in your forecasts and financial statements?
A strong answer: Tracks it separately, recognizes revenue only when accounting rules allow, reserves where collection is doubtful, and pushes project managers to get approvals.
Behavioral · Risk and insurance
Tell me about a time you reviewed contract risk terms, such as indemnity or insurance requirements, and changed what the company signed.
A strong answer: The term, the risk it carried, how they worked with counsel or brokers and what changed.
Industrial construction chief financial officer KPIs
Each template target is only a sample. Build yours from job history and each owner's payment terms, then revisit them with the chief executive quarterly.
Budget Adherence
Compare cost to date and forecast cost at completion with each job's current budget, including approved change orders, at every monthly job review.
Cash Flow Management
Track operating cash flow against revenue each month, and keep a rolling weekly forecast that shows payroll peaks, owner payment dates and retainage held.
Cost Efficiency
Measure overruns as the gap between bid cost and final cost on closed jobs, sorted by cause: labor, material, equipment or owner-driven change.
Financial Reporting Timeliness
Log the due date and delivery date of each report to the CEO, the bank, the surety and owners, and review any miss at month-end.
Career path
Project accountantBills owners, codes costs and pulls records for owner audits.
ControllerCloses the books, runs job cost and leads the accounting staff.
Chief financial officerOwns cash, risk, audits and the bank and surety relationships.
Industrial construction chief financial officer FAQ
How do union benefit fund audits work?
Craft agreements usually let the union's benefit funds check your payroll records. An auditor compares hours on your timecards and payroll with the hours you reported to each fund, by craft and by job, and bills any shortfall. Keep timecards coded by craft and classification, and keep records of work you subcontracted, since auditors ask who did it.
How much does an industrial construction chief financial officer make?
Chief executives who work for commercial and industrial builders earned a median of $225,550 a year ($108.44 an hour) in May 2025, according to the Bureau of Labor Statistics. The middle half earned between $168,640 and $347,300 a year. Pay also depends on your local market, experience and bonus terms.
Should the CFO review bids before they go out?
Yes, for any bid large enough to strain cash or bonding. The CFO checks the payment terms, retainage, the owner's credit, the billing schedule and how long the company will fund payroll before the first payment arrives. A bid with a fair margin can still fail if the owner pays slowly and the job peaks early.
The template mentions lifting up to 10 pounds. What does that mean for a CFO?
It means carrying a laptop, a file box or a tablet for photos on a site visit. A CFO here may walk a laydown yard to see stored equipment before the company bills the owner for it, or walk a job with the project manager during a cost review, wearing the gear the plant requires. The rest of the work happens at a desk, as the template says.
What should the CFO do when a plant owner pays late?
Start with the contract: check the payment terms, any interest or late fee it allows, and the steps required before you can slow or stop work. Call the owner's accounts payable team and project lead with invoice numbers and approval dates. Track lien and bond claim deadlines from the day work starts, since they vary by state. Tell the CEO before cash gets tight.
