Finance Director
Job Details
Skills And Tools:
Job Description
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.
Job Requirements
· Education: Bachelor’s degree in finance, Accounting, or a related field. A professional certification (e.g., CFA, CMA, CPA, Diploma IFRS) is highly preferred.
· Experience: Minimum of 15+ years of progressive experience in finance, with at least 5 years in a senior leadership role (e.g., Finance Director, Head of Finance, Finance Senior Manager, or Finance Manager).
· Industry Experience: Essential experience within the real estate development sector in Egypt (at least 6 years). Deep understanding of the Egyptian real estate market dynamics, regulations, and financing landscape.
· Technical Skills:
o Expertise in financial modeling, valuation, and project finance.
o Proven track record of managing investor relations.
o In-depth knowledge of Egyptian GAAP (EAS), tax laws, and real estate development regulations.
o High proficiency in ERP systems and advanced Excel.
· Competencies & Personal Attributes:
o Strategic Thinking, Leadership and People Management Skills, Negotiation Skills
o Strong attention to detail, analytical, problem-solving, and decision-making capabilities.
o Integrity and resilience (ability to thrive in a fast-paced, dynamic, and sometimes high-pressure environment).
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