Finance Director

Aswaq

Job Purpose

Ensuring the company s financial stability, growth, and compliance in a dynamic and often competitive market.

Main Responsibilities:

1. Financial Strategy:

o Develop and execute the company's financial strategy in alignment with overall business objectives.

o Provide strategic recommendations to the CEO and board members on financial planning, investments, and market opportunities.

2. Financial Planning & Analysis (FP&A):

o Develop budgets, forecasts, and long-term financial plans.

o Analyze project feasibility, ROI, and cash flow projections.

o Monitor KPIs (e.g., sales velocity, cost per sqm, liquidity ratios).

3. Financial Management & Reporting:

o Oversee all company accounting practices, including the preparation of financial statements, monthly/quarterly/annual reports, and management accounts.

o Ensure accurate and timely financial reporting in compliance with Egyptian Accounting Standards (EAS) and any other applicable regulations.

o Implement and maintain robust financial controls and systems.

4. Funding & Capital Management:

o Secure financing through discounts on unit price, new projects partners, Sukuk, or any other source.

o Manage relationships with banks.

o Optimize the cost of capital.

5. Cash Flow Management:

o Ensure liquidity for ongoing projects, admin, marketing, general expenses, and land acquisitions.

o Optimize the balance between receivables (installments from buyers) and payables (contractors, vendors) to guarantee a positive and healthy cash balance.

o Hedge against currency risks.

6. Project Finance & Feasibility:

o Conduct in-depth financial feasibility studies for new projects, including ROI analysis, IRR calculations, and payback periods.

o Monitor the financial performance of ongoing projects, ensuring they are delivered on budget and identifying any variances.

o Oversee the financial management of project escrow accounts as mandated by the Egyptian Real Estate Development Law.

7. Regulatory & Tax Compliance:

o Ensure adherence to Egyptian generally accepted accounting principles (Egyptian GAAP) and tax laws.

o Handle VAT, real estate taxes, and withholding taxes.

o Comply with Egypt s Real Estate Development Law (e.g., escrow accounts for off-plan sales).

8. Investor & Stakeholder Relations:

o Report financial performance to board members, shareholders, and regulators.

o Engage with investors for capital raises.

9. Risk Management:

o Assess market risks (demand fluctuations, high inflation, currency fluctuation and FX volatility, slow off-plan sales).

o Mitigate legal risks (contract disputes, delayed permits, regulatory changes).

10. Cost Optimization:

o Renegotiate contractor terms, bulk-purchase materials.

11.Tech & Digital Finance:

o Implement ERP systems for project tracking.

12. Team Leadership & Development:

o Lead, mentor, and develop the finance and accounting team, fostering a culture of high performance and continuous improvement.

o Manage the structure and resources of the finance department to meet goals.