Key Responsibilities
- Manage day-to-day corporate banking and finance coordination.
- Coordinate with banks for company accounts, bank facilities, guarantees, cheque-related matters, and other banking requirements.
- Prepare cheques accurately and on time according to approved payment schedules.
- Maintain a cheque register and track security cheques, post-dated cheques, cheque maturity dates, issued cheques, cleared cheques, pending cheques, and cancelled cheques.
- Monitor bank balances, upcoming payments, collections, cash flow requirements, and bank transfer requirements.
- Prepare cash flow forecasts, payment forecasts, collection forecasts, and bank position reports for management.
- Review contracts, purchase orders, letters of award, letters of intent, supply agreements, and project agreements to identify all financial and payment-related obligations.
- Track and monitor the following contract payment terms:
- Payment Structureo Advance paymento Mobilization advanceo Advance payment guaranteeo Performance bond / Performance guarantee / Bank guaranteeo Retention moneyo Retention releaseo Payment milestoneso Progress paymentso Interim payment certificateso Monthly payment certificateso Payment certificateso Certified paymentso Final paymento Taking-over certificate paymento Defects liability periodo Defects liability retention
- Variations & Claimso Variation claimso Approved variationso Unapproved variationso Variation orderso Back chargeso Deductionso Contra chargeso Liquidated damageso Delay penalties
- Contract Valueso Lump sum contract valueso Re-measurement itemso Provisional sumso Unit rate contract values (SERA only — re-measurable BOQ)
- Payment Mechanicso Payment due dateso Credit periodso Tax invoice requirementso VAT treatmento Security chequeso Post-dated chequeso Cheque maturity dateso Bank transfer requirementso Subcontractor payment terms
- Milestone Triggerso Material delivery payment termso Installation milestone paymentso Testing and commissioning payment terms (SERA)o Handover payment requirementso Snagging-related payment holdso Retention against defectso Warranty guarantee requirements
- Approval & Documentationo Client approval requirements before invoicingo Consultant approval requirements before invoicingo Payment certification processo Delivery note requirementso Material approval requirementso Material inspection request requirementso Site receipt confirmationo No-objection certificates for paymento Work completion certificates
- Risk & Terminationo Contractual penaltieso Contractual deductionso Suspension of payment clauseso Termination payment clauses
- Insurance-related payment requirements
- Prepare and maintain a contract financial summary for each project, clearly showing payment terms, invoicing stages, retention, guarantees, payment due dates, penalties, variations, approvals, documentation requirements, and collection requirements.
- Ensure invoices are prepared according to contract terms, approved payment milestones, delivery stages, consultant approvals, client requirements, and required supporting documents.
- Track project receivables, outstanding balances, overdue payments, retention amounts, certified payments, approved variations, unapproved variations, and collection status.
- Follow up with developers, contractors, consultants, and project clients for payment certificates, invoice approvals, payment releases, retention releases, and overdue balances.
- Coordinate internally with sales, procurement, operations, delivery, project, and accounts teams to ensure all documents required for invoicing and payment collection are complete.
- Ensure timely preparation of supplier, vendor, subcontractor, and project-related payments according to approved payment schedules.
- Maintain proper documentation for bank requirements, audits, contracts, cheques, invoices, payment approvals, payment certificates, guarantees, and project finance records.
- Ensure all financial transactions are properly recorded in the accounting system according to project and contract requirements.
- Support management with project profitability reports, collection reports, receivables aging reports, payment schedules, bank facility reports, and cash flow reports.
Required Experience
- Experience in corporate finance, banking coordination, cheque management, accounts payable, accounts receivable, and project-based accounting.
- Strong experience dealing with banks, corporate banking documents, facilities, guarantees, cheque management, and post-dated cheques.
- Experience understanding and tracking project contract payment terms, even though the company is a supplier and not a construction contractor.
- Experience working with developers, contractors, consultants, or project clients is preferred.
- Experience in kitchen supply, fit-out, interiors, joinery, building materials, appliances, or project supply business is an advantage.
- Good understanding of contract terms and conditions related to payments, collections, guarantees, retention, variations, penalties, and final settlements.
Required Skills
- Strong corporate finance and accounting knowledge.
- Excellent understanding of banking processes, bank facilities, guarantees, and cheque management.
- Ability to prepare cheques, payment schedules, and bank documentation accurately and on time.
- Strong cash flow tracking, collection planning, and payment planning skills.
- Ability to read and understand contractual payment terms and project-related financial clauses.
- Strong follow-up and coordination skills with banks, clients, developers, contractors, consultants, suppliers, and internal departments.
- Excellent attention to detail and documentation control.
- Good knowledge of Microsoft Excel and accounting software.
- Ability to manage multiple projects, banking requirements, payment deadlines, and collection follow-ups at the same time.
Qualifications
- Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.
- CMA qualification is preferred.
- Candidates with ACCA, CPA, CA, or equivalent professional finance/accounting qualifications will also be considered.
- Minimum 3–5 years of experience in corporate finance, banking coordination, project accounting, accounts payable, accounts receivable, contract finance coordination, or project-based commercial finance.
- Experience in a project supply business, kitchen supply, fit-out, interiors, joinery, building materials, appliances, or similar industry is preferred.
- Preferred
Candidate Profile
The ideal candidate is a finance professional who understands corporate banking and project contract payment terms. The person should be able to deal confidently with banks, manage cheques and payment schedules, track contract financial obligations, follow up on collections, and ensure that all project-related finance activities are completed accurately and within deadlines.
The candidate should understand how developers, contractors, consultants, and project clients handle payments, approvals, certificates, retention, variations, guarantees, and final settlements. The person must be organized, detail-oriented, and capable of protecting the company’s financial interests by carefully tracking all contractual payment terms and banking requirements.
