Senior Finance Manager (Group Treasury and Budget)
Somabay
مجموع سنوات الخبرة :11 years, 4 أشهر
2023-Now Somabay Development (ASDC Real Estate Developer and hotels Management)
• Treasury Team Leadership: including hiring, training, mentoring, and evaluating team members.
• Treasury Operations Oversight: cash and debt management, liquidity forecasting, investment, and risk management activities. Ensure adherence to policies & procedures.
• Financial Analysis & Reporting: Oversee the preparation and analysis of financial reports, including cash Position, cash flow forecasts. interpret financial data to identify trends, risks, and opportunities, & provide strategic recommendations to senior management.
• Relationship Management: Maintain relationships with external stakeholders. Optimize treasury operations & secure competitive terms.
• Cash Flow and Working Capital Management: Implement strategies to optimize the working capital & liquidity positions. Monitor and analyze, funding requirements & cash conversion cycles.
• Technology and System Enhancements: Stay abreast of technological advancements in treasury management systems and identify opportunities to enhance treasury operations.
• Board and Executive Reporting: Prepare and present treasury-related offers, reports, analyses, and presentations to the executive team, board of directors, and other relevant stakeholders.
1. Budget Development: Collaborate with facility management teams to develop and maintain the annual budget. Gather input from various departments to ensure accurate forecasting and allocation of financial resources. Analyze historical data, and future needs to establish realistic budget goals and targets.
2. Expense Monitoring and Control: Monitor and track facility-related expenses, including maintenance and repairs, utilities, supplies, equipment, and contracted services. Regularly review expenditure against budgeted amounts, identify cost-saving opportunities.
3. Financial Analysis and Reporting: Analyze financial data and prepare comprehensive reports, including variance analysis, financial projections, and performance metrics.
4. Capital Planning and Asset Management: Collaborate with the facility management team to develop capital expenditure plans for facility improvements, renovations, and upgrades. Evaluate the financial feasibility of proposed projects, conduct cost-benefit analyses, and prioritize capital investments based on strategic objectives, return on investment.
5. Vendor and Contract Management: Review and negotiate contracts with external vendors and service providers, ensuring favorable terms and conditions while maintaining budgetary constraints. Monitor contract compliance and performance, including service levels, pricing, and invoicing accuracy. Identify opportunities for cost optimization, such as renegotiating contracts or seeking alternative vendors.
6. Cost Estimation and Forecasting: Work closely with facility managers and other stakeholders to estimate costs for planned projects, renovations, or facility expansions. Provide accurate and detailed financial forecasts to support decision-making and resource allocation. ensure adherence to approved budgets during project implementation.
7. Financial Compliance: Ensure compliance with financial policies, regulations. Collaborate with finance and audit teams to facilitate financial audits, internal control assessments,
8. Stakeholder Communication: Effectively communicate budgetary information, financial performance, and cost-saving initiatives to relevant stakeholders, including senior management, facility managers, and other departments. Provide insights and recommendations to support strategic decision-making and cost optimization efforts.
2019- 2023 Somabay Development (ASDC Real Estate Developer and hotels Management)
• Acquire EGP 145M MTL from AUB to finance Sheraton Somabay Renovation as per the CBE Tourism Support initiative (8%)
• Manage short term and long-term cash flow forecasting processes at the corporate as well as at the business segment level.
• Acquire EGP 300M from AUB & EGP 100M from BM to finance the real estate sector discounting revolving facilities to cover the company working capital and construction.
• Successfully finishes the loan settlement and decease the settlement amount from EGP 800M to EGP 200M as per the Tourism support initiative for ASDC and release the support (Real Estate, Commercial and Shares mortgage)
• Successfully finishes the loan settlement negotiation with Bank Misr and succeeded to decrease the settlement amount from EGP 178M to EGP 55M as per the Tourism support initiative For Cascade Hotel Company
• Acquire the required project finance through the adequate debt instruments, for real estate un-delivered units finance, and push up the constructions and delivery of the new units and use the new delivered units to be re-financed again, to reach higher projects development completion percentage and attain the goal of Creating a sustainable community in Somabay by 2025.
• Prepare the required financial models presented to the banks to acquire the required finance for both (Real Estate and Hospitality hotels) sectors and play a major role as a focal point between the company departments to acquire all the data aspects required to prepare the models.
• Review all the financial aspects of the company legal contracts (Debts, Payment solutions & Gateways, ATM’s, Banks POS, Valu and Fawry payment solutions) and get a favorable rates & give the financial aspects clearance.
• Released support Commercial mortgage over Sheraton Somabay and breakers Diving hotels and Cascades hotel companies and ensure no debts is being reported to CBE.
• Monthly Closing Function for Debts and time Deposit’s accruals
• Monthly Reconciliation with the GL department to eliminate all unknown entries.
• Daily reconciliation to ensure the clearing and settlement of issued notes payable & Account Receivables
• Ensuring the accuracy of Cash flow forecast through the Coordination of between the Receivables and Payables functions, using the matching process.
• Follow up the reduction of days receivable and extending days payable.
• Optimize global banking structure and handling all cash management operation, Foreign Exchange deals, Cash investment TD’s & TBs for all companies under the group portfolio and Analyze banking fees and optimize cost.
• Implement and standardize treasury systems and tools to improve org. efficiency.
• Implementation of hedging strategies to mitigate risks related to (IR/FX) exposure.
• Integration of payment solutions and payment gateways for Homeowners payments (Rentals, Utilities, Maintenance & additional works)
Responsible for financially reviewing debt contracts in terms of providing support, direction, credit information and terms negotiation to ensure favorable conditions are met to match the company borrowing terms.
•Ensure access to (ST, MT & LT debts) secured by Commercial papers and client's contracts, to meet both planned & unforeseen cash requirements via monthly, quarterly & yearly cash projection which assist in the ideal utilization of cash resources.
•Manage and maximize returns on cash. investments.
•Debts monthly closing function and related analysis related to cash and cash equivalent report.
•leading the securitization deal with CIB (converting pool of receivables to a traded securities)
•Capital budgeting, Cash flow forecasting and financial data analysis.
•Responsible for Cash Management, Banking Relationships and Debt Management
•Perform accounting Closing function as assigned debt service transactions, debt classification (S/T & L/T), reconcile and accruals reporting.
•Maintain a system of policies and procedures that impose an adequate level of control over treasury activities.
•Arrange with internal and external auditors the audit process for treasury transactions.
•Setting treasury policies and procedures, objectives, appraisals and related KPIs
•Monitor the cycle of the checks and solve any related problem that may occur.
•Reducing the cost of funds and weighted average cost of capital
•Following up the increase of the current facilities credit limit and acquiring new facilities to meet budgeted financial needs.
Handling Eng. Samih Sawiris Personal Debt Portfolio in liaison with the family UK office.
•Handling the holding Swiss (ODH) company global cash management operations with the offshore banks (UBS - Credit Suisse - Urner Kantonal bank etc.)
•Played a centralized role in handling the cash needs of the company destinations by using centralization of cash and cash pooling to use the cash surplus of destination to finance a deficit position destination to minimize non-earning cash.
•Issuing and following up tender offers bid Bonds for the company mega projects.
Preparing the Group cash forecast for liquidity reporting which contain actual position and examine the analysis for the deviations that occurred from the budgeted plan.
•Preparing (Micro-Macro) Economics reports through extracting data from Reuter's platform that contains the local and global market updates FX rates and forecast, interest rates, and forecast and the company Stock performance and other economic research required for the budgeting process etc…
•Assists in preparation of monthly management report and accompanying schedules, worksheets, and narratives, including "Budget vs. Actual" variance reports. Assist in providing follow-up and documentation of significant variances.
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