Treasury Manager at Graceco Limited

Location: Alagbado, Lagos
Report: Director, Finance and Administration
Status: Full time
Level: Management staff

Job Summary

• Sourcing of funds required for the Company's operations at optimum prices and lowest risk and managing relationships with Financial Institutions
• Protecting the Company's margins through reduction in Net Financing costs and maximizing income / Earnings on liquid assets
• Managing the Treasury back office and support operations
• Coordinate the existing treasury team.

Job Description
Sourcing of funds required for the Company's operations:

• Preparation of a daily summary of the company's Financial position
• For short-term shortfall in financing, arrange funds using either bank loans, bank overdraft, leases, issuance of Commercial papers, or other Financial instruments
• Daily follow up to ensure the conversion of all Receivables into Cash
• Following up with Accounting for invoicing of goods to clients
• Preparation of Cash Flow Forecasts for weekly and monthly Cash Inflows and Outflows
• Improving the company's funding profile and capital efficiency and Source Long Term funds for Long Term projects
• Preparation of Debt analysis and a schedule of all bank overdraft and loan facilities

Managing relationships with Financial Institutions and sourcing of funds at optimum prices and lowest risk:

• Sourcing of foreign currencies at optimum prices and lowest risk
• Sourcing of funds at optimum prices and lowest risk
• Improving the Company's margins through reduction of the Net Financing costs
• Improving the company's funding profile and capital efficiency
• Daily, monitor transactions in the company bank accounts and review daily bank statements
• Monthly, preparation of bank reconciliation for all current and facility accounts

Protecting the Company's margins and assisting management achieve its Earnings objectives:

• Liaise with Procurement and Logistics and facilitate prompt payment to Suppliers of goods and services
• Follow up with banks for timely opening and transmission of LCs and Bills for Collection for imports
• Protecting the company's margins through control and reduction of Finance costs
• Drive rigorous and disciplined tracking of Cash Flow against targets with closer monitoring of gaps on weekly basis and encouraging faster reaction to promote a culture of disciplined financial management across the organization
• Computation of Interests due on client's delayed settlement of invoices and loans
• Checking the accuracy of Interests and other bank charges in bank statement
• Checking the accuracy of Investment income computed by Financial Institution

Management of investments in liquid assets, stocks and shares in private and public companies:

• Ensuring prompt investment of surplus funds in available Financial instruments at optimum income and lowest risk
• Monitor share prices in the market and advise Management / Stock broker on purchases or disposals
• Follow up with Financial Institutions to ensure prompt receipt of investment income when due

Managing the Treasury back office:

• Ensure that all funds are appropriately banked
• Ensure that Customers accounts and the Company's bank accounts are updated daily with Credit Alerts received for bank transfers by Customers
• Communicate all inflows to Management on daily basis
• Scheduling and organising prompt payment of Suppliers invoices and providing weekly information on disbursement
• Ensure control and verification of all Cash transactions and conduct surprise Cash Count in all locations where the company is maintaining Cash Float

Others:

• Making recommendations to management on observations in the course of review
• Any other responsibility as may be assigned by the Finance & Control Director
• Provide leadership for the Treasury team

Requisite Qualifications/Experience

• B.Sc. (1st or 2nd Class Upper) in Social Sciences or Management
• Required certification: FCA, CTP
• Minimum of 7 years’ experience as treasury manager; evidence of career progression needed

Required Skills /Attributes:

• Good oral and written communication skills
• Good interpersonal skills, people management and negotiating skills
• Knowledge of financial management in manufacturing sector
• Strong sense of professionalism, integrity, and sound judgment and tact
• High level of sincerity and honesty with pragmatic and proactive approach to business
• Ability to maintain confidentiality
• Proficiency in the use of Enterprise wide Accounting Application such as ERPNext, SAGE or SAP, Ms Office packages and Power Point Presentation.

Required knowledge:

• International Financial Reporting Standards (IFRS) as published by IASB
• Financial Reporting Council of Nigeria Act, 2011
• CBN monetary guidelines
• Bankers Tariff
• Pensions Reforms Act 2014
• Fiscal policy guidelines as rolled out by the Fed. Ministry of Finance from time to time
• Global best practices in Treasury management.