Head of Group Treasury at Jagal Group

Purpose/Role

• To provide appropriate liquidity management across the Jagal Group, manage existing facilities and identify necessary financial instruments to meet future financing needs
• To manage and lead on the external and internal treasury relationships
• Work closely with GCFO and Head of Financial Planning to ensure effectiveness of cash flow planning and management
• To ensure proper governance and group wide adherence and compliance to Treasury Policies

Key Aims and Objectives

• To ensure all business units in the group has adequate liquidity in place, at the right time and on cost effective terms.

Prime Responsibilities and Duties
Liquidity:

• Financing activity for the group - Establishing and renewing adequate financing for the Jagal group.
• Renew and raising new debt
• Restructure all current facilities with moratorium where applicable.
• Support the GCFO with new funding strategy

Cash Flow:

• Participate in weekly cash flow reviews at HQ and business units to understand impact on facilities and the need for new financing

Cost of Funding:

• Complete forensic audit review of all bank charges and seek recovery where over charging has occurred
• Review all new financial documents, financial covenants prior to signing by the JEC and negotiate all pricing
• Review and monitor all bank charges, interest and fees across the business (in conjunction with the finance leads)

Reporting:

• Prepare weekly report and insights on latest bank status – publish monthly to JEC

Corporate Governance:

• Issue and update Group Treasury Policy as required
• Drive compliance of the treasury policy in conjunction with the respective business unit finance leads.
• Review and update the value of the Security trust as required
• Bank account management -Opening new accounts and closing bank accounts with key relationship banks.
• Accessing counter party risk - through regular assessment of credit risk profile of the companies or financial institutions.

Bank Relationship:

• Build and maintain relevant senior /middle level banking relationship with the banks.

External Market:

• Maintain up to date knowledge and insight on all liquidity matters including Lenders, national, regional and global market rates, finance and trade solutions etc.

Other:

• Electronic banking – ensure all business adopt on-line systems
• Investing surplus cash – call deposit, short term deposit and treasury bills.
• Monitoring of facilities across the group, compliance with the terms of the facilities etc.
• Conduct sale and purchase of US$ - jointly with the business units.

Requirements
Technical Skills:

• 10 years of banking experience and Head of Treasury in a commercial environment
• ACT – Association of Corporate Treasurers (desirable)
• Deep knowledge of CBN and other relevant regulations and guidelines
• Strong technical awareness, knowledge of cash management principles
• Proficient in reviewing and assessing cash flow plans and statements
• Understanding of FX transaction and translation implications

Personal Skills:

• High sense of integrity and comfortable working with executive management
• Strong interpersonal skills and excellent communicator (verbal and written)
• Strong business acumen with ability to take a strategic viewpoint but with high attention to detail
• Good leadership skills with ability to work under pressure
• Ability to ensure decisions are taken and followed up