Senior Director Treasury & Corporate Finance

Role Overview

Ardara is seeking a Senior Director Treasury & Corporate Finance to lead the development and successful implementation of the company's Treasury and Corporate Finance strategy. Based in Riyadh, this full-time role requires over 10 years of experience and is critical for ensuring appropriate governance, robust risk management, optimal financial liquidity, and an efficient capital structure. The role involves cultivating strategic relationships with financial institutions and driving the efficient sourcing and utilization of funds in alignment with Ardara’s strategic direction.

Treasury and Cash Management Responsibilities

• Monitor Ardara’s cash positions and lead the development of periodic financial reports on cash positions, liquidity statements, and project versus budget performance, providing informed updates to leadership.
• Plan, monitor, and manage the efficient sourcing and utilization of cash consistent with Ardara’s objectives.
• Lead and manage day-to-day treasury activities, overseeing cash flow and financial resource planning to meet obligations.
• Lead the preparation of cash flow projections to facilitate planning for adequate liquidity for major financial requirements.
• Build and maintain working relationships with banks, overseeing bank-related activities including account management.
• Manage the payment process in line with organizational policies, covering suppliers, employees, and tax liabilities.
• Introduce digitization and utilize advanced tools for banking transactions such as H2H payments and auto reconciliation.
• Negotiate with banks on interest rates, particularly for fixed deposits, to ensure optimal ROI.
• Monitor macroeconomic conditions impacting foreign exchange rates and manage foreign currency exposure and payments.
• Direct the preparation of periodic financial reports on cash positions, liquidity statements, and budget variations for senior leadership.
• Manage the company’s insurances, including renewals and coordination with brokers.

Corporate Finance Responsibilities

• Develop and deliver corporate and project financing strategies in coordination with relevant functions.
• Lead capital raising activities, including funding strategy, preparation of Bank Models and Investment Memoranda.
• Evaluate third-party financing proposals, lead finance negotiations, deal pricing through execution, security packages, and CPs closing.
• Coordinate with lenders to meet shareholder Treasury/Global Capital and Ardara requirements.
• Oversee execution and debt service management, ensuring compliance with loan documentation and debt covenants.
• Oversee the shareholder equity drawdown process and reporting.
• Evaluate project financial requirements, perform regular evaluation of Ardara’s corporate financial structure, identify funding options, and provide reports for decision-making.
• Provide Investment Appraisals/Capital Budgeting oversight, reviewing financial models/business plans and recommending funding capacity.
• Oversee the annual project/asset valuation for IFRS impairment review and liaise with external audit and internal teams.
• Formulate and deliver the Medium and Long Term Financial Strategic Plan in line with the Business Plan.
• Liaise with legal counsels regarding corporate financing service level agreements to safeguard Ardara’s financial position.

Required Experience and Qualifications

• A minimum of 10 years of progressive experience in treasury and corporate finance roles.
• A proven track record of deploying forward-looking operational and other treasury methods.
• Demonstrated experience in developing and implementing Funding Strategies, including Debt raisings, preferably within a Real Estate Development environment.

Key Knowledge and Skills

• Comprehensive working knowledge of governing bodies, committees, and regulatory organizations for the development sector within KSA.
• Proficiency and practical experience with Treasury Management Systems (TMS) and their implementation.

Commitment to Financial Excellence

This role offers an opportunity to significantly contribute to Ardara's financial stability and growth by leading critical treasury and corporate finance functions. The successful candidate will be instrumental in shaping the company's financial future in Riyadh.