Working Capital & Treasury lead / controller

Job Description

Company Description

Waagner Biro is a leading construction company in the Middle East and part of the Egis Group. The company delivers bridge, marine, and infrastructure projects across the region.

• Position Purpose

The Working Capital & Treasury lead is responsible for leading all working capital components including Accounts Payable, Accounts Receivable, Cash Management, Treasury operations, WIP monitoring, Payment Applications, and construction-related bonding requirements.

• Key Responsibilities

• Full ownership of AP, AR and Cash operations.
• Weekly and monthly cash flow forecasting and liquidity planning.
• Monitoring DSO, DPO, Cash Conversion Cycle, ageing analysis and overdue balances.
• Ensuring timely conversion of WIP and unbilled revenue into Payment Applications.

• Daily treasury operations: bank balances, cash positions, liquidity coverage.
• Managing banking relationships and ensuring compliance with facility terms.
• Preparation of short-term and medium-term cash flow forecasts.
• Oversight of bank reconciliations and cash/bank postings.
• Strong involvement in construction treasury activities including:
• Performance Bonds
• Advance Payment Guarantees
• Retention Bonds
• Bid Bonds
• Guarantees renewal tracking and cancellation coordination
• Ensuring bonds align with contract terms, validity periods and client requirements
• Ensure full compliance with internal controls over payments and bank approvals.

• Oversee billing cycles, receipts, reconciliations, and customer statements.
• Review and control of Payment Applications, certification status, variations and retentions.
• Coordination with Operations on collections, certification delays, and project billing milestones.
• Monitoring DSO performance and implementing improvement actions.
• Managing credit risk and escalating overdue cases.

• Supervise AP team for timely and accurate invoice processing.
• Approve supplier invoices, reconciliations and payment batches in ERP.
• Align with Procurement on payment plans, GRN clearance and supplier priorities.
• Review AP accruals, prepayments, and month-end closing activities.

• Manage intercompany recharges, confirmations and reconciliations.
• Support internal and external audits across AP, AR, Cash and Treasury.
• Ensure compliance with Group financial policies, UAE VAT and IFRS working capital principles.

• Lead a team of 5-7 members (AP, AR, Cash).
• Set and track KPIs: DSO, DPO, Cash forecast accuracy, WIP turnover.
• Drive process improvement, automation and standardisation across working capital and treasury functions.

Qualifications

• Bachelor's degree in Accounting, Finance, Business or related field.
• ACCA, CPA, CMA (full or part-qualified) preferred.

• 710 years of accounting experience with strong focus on working capital and treasury in construction industry.

• Strong treasury knowledge including banking processes, bonds, guarantees, and cash optimisation.
• Solid understanding of construction working capital drivers (WIP, retention, certification cycles).
• Excellent financial analysis skills (DSO, DPO, CCC).
• High attention to detail, accuracy and control mindset.
• Strong communication and stakeholder management.
• Ability to lead teams and enforce deadlines and policies.

Mandatory:

• Proven experience in construction/contracting treasury, including bonds and guarantees (APG, PB, RB, BB).
• Strong experience in AP, AR, billing, WIP, Payment Applications and cash flow forecasting.
• Minimum 3 years in a supervisory or chief accountant-level role.
• ERP experience required; knowledge of Xpedeon is an advantage.
• English - fluent