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  • Treasury Manager at Graceco Limited

  • Posted on: 5 October, 2018 Deadline: 25 October, 2018
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  • Graceco Nigeria Limited is a food processing and manufacturing company which specializes in consumer goods and the production of input for bakers and the confectionary industry.

    Treasury Manager


    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


    • 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.

    Method of Application

    Applicants should forward their Resume to:

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