Working Capital & Treasury lead / controller

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.

1. 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.
The role ensures strong financial control, optimised liquidity, and efficient implementation of working capital KPIs across the business.

2. Key Responsibilities

Working Capital Management

• 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.

Treasury & Banking

• 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.

Accounts Receivable (AR) / Billing / WIP

• 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.

Accounts Payable (AP)

• 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.

Intercompany & Compliance

• 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.

Team Leadership

• 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.

Education

• Bachelor’s degree in Accounting, Finance, Business or related field.

• ACCA, CPA, CMA (full or part-qualified) preferred.

Experience

• 7–10 years of accounting experience with strong focus on working capital and treasury in construction industry.

Skills

• 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