Financial Controller, Real Estate

SCOPE OF POSITION
The Financial Controller, Real Estate is responsible for the full financial management and control of the phase 2 of Real Estate development, including budgeting, cost control, contract and payment management, financial reporting, cash flow, and compliance. This role serves as the financial gatekeeper of the project, ensuring capital expenditures align with the approved budget, timelines, and corporate objectives, while proactively managing financial risks.
RESPONSIBILITIES AND ACCOUNTABILITIES
Project Budgeting & Cost Control
• Develop, manage, and update the project budget covering hard costs, soft costs, contingencies, financing costs, and FF&E.
• Track committed costs, incurred costs, and forecast-to-complete; analyze variances against budget.
• Review and approve POs, change orders, and contract awards per delegation of authority.
• Lead monthly cost reviews with Project Management, consultants, and contractors; identify overruns and mitigation plans.
Contract & Payment Management
• Review construction, consulting, and procurement contracts from a financial/commercial perspective.
• Manage payment certifications: verify QS certifications, contractor invoices, retentions, and milestone payments.
• Safeguard against fraud and unauthorized disbursements through proper documentation and approval workflows.
• Manage advance payment guarantees, performance bonds, and retention bonds.
Financial Reporting & Analysis
• Prepare monthly, quarterly, and annual project financial reports (budget vs. actual, forecast-to-complete, KPIs).
• Capitalize construction-in-progress (CIP) costs per IFRS/VAS; coordinate with corporate accounting on closings.
• Provide analysis to support decisions on change requests, value engineering, and contractor claims.
• Maintain the project's long-term financial model integrating costs, financing, and post-completion performance.
Cash Flow & Funding Management
• Prepare project cash flow forecasts (weekly, monthly, quarterly) aligned with corporate treasury plans.
• Coordinate with Treasury on financing drawdowns, loan compliance, and disbursement schedules.
• Monitor loan covenants and lender reporting requirements; manage lender and bank relationships.
Internal Controls, Compliance & Risk Management
• Establish and enforce internal controls over procurement, contracting, payments, and reporting.
• Ensure compliance with corporate policies, accounting standards, tax regulations, and lender requirements.
• Identify and mitigate project financial risks (cost, schedule, financing, contractor, FX, tax).
• Coordinate with internal/external auditors and tax authorities; lead financial handover at project completion.
Leadership & Stakeholder Management
• Lead and develop the project finance team (cost controllers, project accountants).
• Partner with Construction team, Procurement, and external consultants.
• Report project financial performance to CFO, the management whenever required.
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