Corporate Finance Executive Director

Job Purpose:

What is the objective of the role? /How does the role serve the company? (Can be illustrated in more than 1 bullet point depending on the job scope.)

Responsible for company financial planning, corporate budgeting, cash management/strategic treasury activities including project finance and debt raising, and loan administration. The subfunction ensures:

• Alignment of the company’s long-term strategy with the long-term financial forecasts.
• The achievement of adequate shareholder returns as per the project returns policy.
• Identifying the financial health of the organization by utilizing the various financial forecasts including the assessment of risks by utilizing scenario analysis.
• Estimating the capital required along with the sources and timing of the required capital.
• Allocate capital to the various projects based on the company’s strategy/objectives.

Job Responsibilities:

Each statement should explain why it must be done. (Targeted key results area)

Financial Planning

Corporate Budgeting

Cash Management & Strategic Treasury Activities

Loan/Debt Administration

Project Financial Model:

• Build and/or review the detailed financial models for the Company’s different projects and sub projects, investment opportunities, and partnerships etc.
• Calculate the project return metrics and key performance indicators in accordance with the Project Return Policy.
• Review all financial models received from the development department to ensure; accuracy and completeness, the achievement of the minimum return hurdles as per the Project Returns Policy and provide feedback and recommendations to improve the project returns.
• Authorize and approve the project launch(s) (Memo and Internal Approvals)
• Review and approve the priced inventory for new launches, cancelled units, or regular time related re pricing. This applies to inventory planned for sale or lease.
• Reviewing and approving the Project Technical Budget in line with the most recent approved feasibility.
• Approve construction and supplier contracts in line with the latest approved Project Technical Budget.
• Determine and approve the Client Payment Terms in line with the most recent approved feasibility.
• Approve operators or special project anchors revenue share deals and/or partnership initiatives in accordance with the latest approved financial model
• Update the project specific financial models on a biannual basis.

Group Financial Model:

• Prepare and update the Group Consolidated Financial Model on an annual basis to be in line with the annual approved corporate Budget and Long-Term Corporate Strategy and include financial forecasts for the clubs, serve as the basis for the developing the company’s five-year funding strategy and displays the excess cash available for expansions, investments, or business development initiatives
• Consult with the Group Financial Controller/Accounting Directors to ensure accuracy and completeness for the forward-looking financial statements forecasted in the Group Financial Model in terms of the latest applied accounting standards, internal practices, and tax related matters.
• Check adherence to financial covenants on a periodic basis and take corrective actions if needed.

Project/Company Funding:

• Based on the Project Financial Model and/or the Group Financial Model assess the funding needs and determine the optimum funding structure for the project/company.
• Obtain offers from banks and/or financial institutions and assess the received offers, negotiate the terms, and strive to achieve the best deal for the company in terms of structure and pricing.
• Prepare BOD memo/presentation to present the received offers and provide recommendation on the best funding option.
• Negotiate and execute all the financing documents in line with BOD approval to reach successful drawdown.
• Manage all debt related reporting requirements in conjunction with the loan administration sub function to ensure that the bank/financial institution receives all required data, whether by virtue of the executed financing arrangements (standard reporting requirements) or on an ad hoc basis, in a timely manner and in line with the standard formatting of the group.
• In line with the development of new financing instruments in Egypt and the general interest rate environment and funding market, recommend restructuring or refinance of existing facilities if such change is beneficial to the company.
• Assist the cash management/strategic treasury sub function to ensure the adherence of the project account principles and the correct overhead allocation across the different project accounts.

Group Financial Model:

• Prepare and update the Group Consolidated Financial Model on an annual basis to be in line with the annual approved corporate Budget and Long-Term Corporate Strategy and include financial forecasts for the clubs, serve as the basis for the developing the company’s five-year funding strategy and displays the excess cash available for expansions, investments, or business development initiatives
• Consult with the Group Financial Controller/Accounting Directors to ensure accuracy and completeness for the forward-looking financial statements forecasted in the Group Financial Model in terms of the latest applied accounting standards, internal practices, and tax related matters.
• Check adherence to financial covenants on a periodic basis and take corrective actions if needed.

Project/Company Funding:

• Based on the Project Financial Model and/or the Group Financial Model assess the funding needs and determine the optimum funding structure for the project/company.
• Obtain offers from banks and/or financial institutions and assess the received offers, negotiate the terms, and strive to achieve the best deal for the company in terms of structure and pricing.
• Prepare BOD memo/presentation to present the received offers and provide recommendation on the best funding option.
• Negotiate and execute all the financing documents in line with BOD approval to reach successful drawdown.
• Manage all debt related reporting requirements in conjunction with the loan administration sub function to ensure that the bank/financial institution receives all required data, whether by virtue of the executed financing arrangements (standard reporting requirements) or on an ad hoc basis, in a timely manner and in line with the standard formatting of the group.
• In line with the development of new financing instruments in Egypt and the general interest rate environment and funding market, recommend restructuring or refinance of existing facilities if such change is beneficial to the company.
• Assist the cash management/strategic treasury sub function to ensure the adherence of the project account principles and the correct overhead allocation across the different project accounts.

Strategic & Special Projects:

• Assist, provide financial guidance, and/or prepare assessment reports and financial models regarding any special assignments that require forward looking financial data such as company valuation, consultant initiatives, etc..
• Develop memos, presentation and documents that require financial analysis for a special topic or assignment
• Assist the M&A department in the assessment of new investment opportunities
• Assist the Development department in successful closure of land partnership agreements:
• Draft and negotiate the financial areas related to land partnership agreements (revenue share agreements)
• Attend various negotiations with landlords to reach successful closure of any partnership agreements.
• Assist the CFO in the overall implementation of the financial module within the ERP system. Breaking down the implementation stages and playing an active role in each stage: ERP implementation stages include planning, design, development, testing, and deployment.
• Assist the CFO and EDPC in the drafting of the “Finance Department" workflow, work policies, and procedures manual.
• Assist the CFO in the proposed merger of the group companies. Preparation of transaction timelines, forecasting merger scenarios, calculating added benefit, communicating with various advisors.

Annual Corporate Budget Submission & Updates:

• ead the annual corporate budget submission process
• update the annual corporate budget in case of extreme deviation or if requested by the BOD

Actual Versus Budget & Financial Reports

• Prepare the actual versus budget reports on a monthly and quarterly basis with variance analysis and commentary.
• Communicate actual versus budget figures to the department heads
• Hold actual versus budget meetings with department heads to understand reasons for deviation and request updated budgets in the event of high deviation.
• Recommend corrective actions to the MD in the event of high deviation and update budgets accordingly
• Prepare the daily payment log to monitor actual spending and adherence to project accounts requirements
• Prepare biweekly cash flow that includes a summary of balance, cash-in & cash-out to support the managerial decision making
• Prepare the weekly treasury overview report to represent the Cash position & notes receivables for each company and/or bank account
• Prepare the monthly actuals figures; manual classification of the actual figures according to the proper budget concept allocation to track performance against budget
• Approve the purchase requests & POs to monitor the spending against the budget & alert management of unusual expenditures
• Prepare monthly delivery report for the management (the actual revenues recognized versus the forecasted) to track the remaining target to be achieved

Special Projects & Approvals

• Prepare, develop, and present various short term related financial reports to MD and BOD such as financial scenarios, profitability assessment reports and liquidity reports
• Improve and enhance the existing policies and procedures related to the corporate bu