Head Of Finance Domeo Resources International (DRI)
full-time
Reports to: Group Managing Director / Group CEO / Board
Direct Reports: Head Accountant, Chief Accountants, Finance Managers, Treasury Officers, Financial Analysts and other Finance personnel across the Group
Main Function
Group is responsible for the overall financial management, treasury operations, funding strategy, financial planning and capital management of the Group and its subsidiaries.
The Group\'s subsidiaries operate across Hospitality and Real Estate, creating a diverse financial structure involving hotel and hospitality operations, restaurants, events, property development, property management, rental income, property acquisitions, construction expenditure and other real estate investments.
The Head of Finance will ensure that the Group maintains adequate liquidity, optimises the use of available funds, manages banking relationships, sources appropriate financing and supports the Group\'s growth through effective funding and financial planning.
The role will lead the Group\'s treasury function, including cash management, liquidity planning, banking relationships, debt management, financing arrangements, investment of surplus funds and monitoring of financial obligations.
The Head of Finance will also lead the development of funding strategies for new and existing projects, particularly real estate developments and hospitality investments, and will identify and engage banks, financial institutions, investors, development finance institutions and other legitimate funding sources.
The role will work closely with the Head Accountant, subsidiary management teams, project teams, legal advisers, auditors, banks, investors and other stakeholders to ensure that the Group\'s financial resources are properly managed and deployed towards its strategic objectives.
Role Responsibilities
Develop and implement the Group\'s overall financial strategy in line with its business objectives.
Provide financial guidance to Management and the Board on business expansion, investments and strategic decisions.
Develop financial plans that support the growth of the Group\'s Hospitality and Real Estate subsidiaries.
Evaluate the financial implications of major business decisions and investments.
Develop strategies for improving profitability, liquidity and long-term financial sustainability.
Monitor the Group\'s financial position and recommend appropriate strategic actions.
Support Management in evaluating new business opportunities, acquisitions, developments and investments.
Treasury Management
Lead the Group\'s treasury function and overall cash management activities.
Develop and maintain effective Group-wide cash management procedures.
Monitor cash balances across all subsidiaries.
Prepare consolidated cash flow forecasts and liquidity projections.
Ensure that sufficient funds are available to meet operational and investment requirements.
Monitor cash inflows and outflows and identify potential liquidity gaps.
Optimise the allocation and utilisation of Group funds.
Monitor surplus cash and recommend appropriate short-term investment options within approved policies.
Establish appropriate controls over bank accounts, cash movements and fund transfers.
Funding and Capital Raising
Lead the identification, evaluation and sourcing of funding opportunities for the Group.
Develop funding strategies for hospitality operations, real estate developments, acquisitions and other strategic projects.
Identify suitable banks, financial institutions, investors, development finance institutions and other funding partners.
Prepare funding proposals, financial models, information memoranda and other financing documentation.
Lead discussions and negotiations with potential funding partners within delegated authority.
Evaluate different financing structures, including debt, equity, project finance and other appropriate funding arrangements.
Assess the cost, tenure, repayment requirements, security and risks associated with proposed financing.
Recommend appropriate funding structures to Management and the Board.
Coordinate the execution of approved financing arrangements.
Maintain a pipeline of potential funding sources for current and future Group projects.
Banking and Financial Institution Relationships
Establish and maintain strong professional relationships with banks and financial institutions.
Serve as a key point of contact between the Group and its financial partners.
Negotiate banking terms, facilities, interest rates, fees and other commercial terms within approved authority.
Review existing banking arrangements and recommend improvements.
Monitor the Group\'s bank facilities and financial obligations.
Evaluate opportunities for restructuring or refinancing existing facilities.
Ensure the Group receives appropriate banking services and support.
Maintain an up-to-date database of banking relationships, facilities and commitments.
Debt and Financing Management
Maintain oversight of all Group loans, overdrafts, credit facilities and other financing arrangements.
Monitor principal and interest repayment schedules.
Ensure timely fulfilment of approved debt obligations.
Monitor debt maturity dates, interest rates, fees, covenants and security requirements.
Prepare debt servicing forecasts.
Identify refinancing requirements well ahead of facility maturity.
Analyse the Group\'s debt position and recommend appropriate financing strategies.
Monitor the overall cost of borrowing and its impact on Group profitability.
Ensure proper documentation and reporting of all financing arrangements.
Real Estate Project Funding
Develop funding strategies for real estate acquisition and development projects.
Assess the financing requirements of individual property developments.
Prepare project financial models, cash flow projections and funding requirements.
Evaluate project viability, expected returns and financing costs.
Work with Project Management and Real Estate teams to establish project budgets and funding schedules.
Identify suitable financing structures for property developments.
Engage banks, investors and other funding partners for approved projects.
Monitor the utilisation of project funds against approved development budgets.
Ensure project financing is aligned with construction and development milestones.
Monitor project cash flow and identify potential funding gaps early.
Hospitality Financial Management
Provide financial strategy and treasury oversight for the Group\'s hospitality businesses.
Monitor liquidity requirements of hotels, restaurants, events and other hospitality operations.
Analyse the financial performance and cash-generating capacity of hospitality subsidiaries.
Support Management in assessing hospitality expansion and investment opportunities.
Monitor major capital expenditure requirements for hotels and hospitality facilities.
Evaluate financing requirements for renovations, expansions, new hotel developments and major equipment purchases.
Work with hospitality management to improve cash flow and financial efficiency.
Ensure hospitality businesses have adequate working capital to support operations.
Group Cash Flow Management
Prepare and maintain consolidated short-term, medium-term and long-term cash flow forecasts.
Monitor expected cash inflows from hospitality operations, rentals, property sales and other Group businesses.
Monitor major cash commitments including salaries, suppliers, taxes, debt service, construction expenditure and capital projects.
Identify potential cash shortages before they occur.
Recommend appropriate funding or cash management solutions.
Coordinate approved fund transfers between subsidiaries.
Monitor the timing of major receipts and payments.
Provide regular liquidity reports to Management.
Financial Planning and Forecasting
Lead Group-wide financial forecasting activities.
Coordinate financial projections from all subsidiaries.
Develop financial models for new projects and investments.
Prepare scenario and sensitivity analyses for major financial decisions.
Forecast revenue, expenditure, cash flow, capital requirements and financing needs.
Monitor actual financial performance against forecasts.
Review assumptions used in financial models and update them when required.
Provide Management with forward-looking financial information for decision-making.
Investment and Capital Allocation
Evaluate proposals for the allocation of Group capital.
Assess the expected financial returns and risks of proposed investments.
Review capital expenditure proposals from subsidiaries.
Support Management in prioritising investments based on strategic and financial considerations.
Monitor returns on major investments and capital projects.
Recommend appropriate allocation of available funds between subsidiaries and projects.
Monitor the financial performance of investments and identify underperforming assets or projects.
Ensure capital is deployed in accordance with approved business priorities.
Financial Risk Management
Identify and monitor financial risks affecting the Group.
Monitor liquidity, interest rate, credit, foreign exchange and financing risks where applicable.
Assess risks associated with proposed funding arrangements.
Develop appropriate financial risk mitigation strategies.
Monitor customer, tenant and corporate receivables that may affect Group liquidity.
Assess financial exposure arising from major contracts and projects.
Work with Legal and other relevant departments to assess financial implications of contractual commitments.
Report significant financial risks to Management and the Board.
Budgeting and Financial Performance
Coordinate the Group\'s annual financial planning and budgeting process.
Review subsidiary budgets and financial projections.
Consolidate approved budgets into a Group financial plan.
Monitor performance against approved budgets.
Analyse significant financial variances.
Review revenue, expenditure, profitability and cash flow performance across subsidiaries.
Work with subsidiary management to develop corrective actions where required.
Provide financial performance reports to Management and the Board.
Financial Reporting and Management Information
Work closely with the Head Accountant to ensure accurate and timely financial reporting.
Review consolidated financial reports and management accounts.
Analyse Group profitability, liquidity, capital structure and financial position.
Prepare high-level financial reports for Management and the Board.
Provide financial analysis to support strategic and investment decisions.
Ensure Management receives timely information on cash flow, funding and financial risks.
Review financial performance of Hospitality and Real Estate subsidiaries.
Ensure financial reports clearly communicate key financial issues and opportunities.
Financial Controls and Governance
Establish effective financial management and treasury controls across the Group.
Ensure appropriate approval procedures are maintained for major financial transactions.
Monitor compliance with the Group\'s Delegation of Authority.
Ensure proper controls over bank accounts and fund transfers.
Review treasury processes and identify potential weaknesses.
Work with the Head Accountant and Internal Audit function to strengthen financial controls.
Ensure proper documentation of funding arrangements and financial commitments.
Escalate significant control breaches and financial risks to Management.
Funding Documentation and Due Diligence
Coordinate the preparation of financial documentation required by funding partners.
Ensure financial records provided to banks and investors are accurate and complete.
Coordinate financial due diligence processes.
Prepare financial information required for loan applications and investment proposals.
Review financing term sheets and commercial proposals.
Work with Legal advisers on financing agreements and related documentation.
Maintain an organised database of financing documents and obligations.
Ensure confidentiality of sensitive financial and funding information.
Investor and Stakeholder Relations
Support Management in maintaining relationships with investors and financial partners.
Prepare financial information and reports required by approved investors and funding partners.
Participate in investor and lender meetings where required.
Respond to financial information requests professionally and accurately.
Maintain confidence in the Group\'s financial management and reporting.
Coordinate with Legal, Accounting and Management teams on stakeholder requirements.
Cost of Capital and Financial Efficiency
Monitor the Group\'s overall cost of funds.
Evaluate interest rates, financing fees and other borrowing costs.
Identify opportunities to reduce financing costs.
Review banking charges and recommend cost-effective alternatives.
Evaluate refinancing opportunities where financially beneficial.
Monitor the Group\'s capital structure and recommend improvements.
Ensure funding decisions take into consideration both cost and long-term financial sustainability.
Team Leadership and Development
Lead and coordinate the Group\'s Finance and Treasury functions.
Supervise the Head Accountant and other senior finance personnel as assigned.
Set clear performance expectations for Finance and Treasury teams.
Review team performance and identify development requirements.
Promote accuracy, accountability, professionalism and confidentiality.
Build a strong financial management culture across the Group.
Ensure appropriate succession and capacity development within the Finance function.
Compliance and Audit
Ensure compliance with applicable financial, tax, banking and regulatory requirements.
Work with the Head Accountant on statutory financial reporting and tax matters.
Coordinate with Internal and External Auditors on financial and treasury matters.
Ensure proper documentation of financing transactions.
Support audits and financial reviews conducted by lenders, investors or other authorised parties.
Ensure financial practices are consistent with approved Group policies.
Monitor regulatory and market developments that may affect the Group\'s financing activities.
Strategic Advisory and Continuous Improvement
Act as a key financial adviser to Group Management.
Provide financial insight on expansion, acquisitions, new developments and investments.
Recommend improvements to the Group\'s financial structure and treasury processes.
Introduce appropriate financial planning and cash management tools.
Improve the Group\'s access to reliable and cost-effective funding.
Identify opportunities to strengthen financial resilience and liquidity.
Continuously review financial processes and recommend improvements.
Perform other duties reasonably assigned by Management or the Board.
Qualifications and Requirements
Education
Bachelor\'s Degree/HND in Accounting, Finance, Economics, Business Administration or a related discipline.
A Master\'s Degree in Finance, Business Administration, Economics or a related field is an advantage.
Professional Certifications
ACA - Institute of Chartered Accountants of Nigeria (ICAN).
ACCA, CFA, CIMA or other recognised professional finance qualification may be considered.
Professional certification in Treasury Management is an advantage.
Experience
Minimum of 10 - 15 years of progressive experience in Finance, Treasury, Corporate Finance or related functions.
Minimum of 5 years in a senior financial management role.
Proven experience managing treasury and liquidity functions.
Proven experience in sourcing and structuring business funding.
Experience dealing directly with commercial banks and financial institutions.
Experience negotiating loans, overdrafts, project finance or other financing facilities.
Experience preparing financial models and funding proposals.
Experience in a Group structure with multiple subsidiaries is strongly preferred.
Experience across Hospitality and Real Estate is highly desirable.
Experience in property development finance, project finance or investment funding is an advantage.
Skills
Treasury Management
Corporate Finance
Funding & Capital Raising
Cash Flow Management
Financial Planning & Forecasting
Financial Modelling
Debt Management
Banking Relationship Management
Investment Analysis
Capital Allocation
Project Finance
Real Estate Finance
Hospitality Finance
Risk Management
Financial Reporting
Budgeting & Variance Analysis
Financial Negotiation
Commercial Awareness
Advanced Microsoft Excel
ERP/Financial Systems
Strategic Thinking
Analytical & Numerical Skills
Leadership & Team Management
Communication & Presentation
Problem-Solving
Integrity & Confidentiality