Associate Manager, Treasury at BIC Nigeria

Job Summary

• This position will assist the Finance Manager, Nigeria to manage trade services, forex management, import and export documentation and working capital management.
• Responsible for the assessment, monitoring, planning and management of the efficient utilization of cash and financial services in a manner consistent with the objectives of the Company.

 Main Responsibilities / Tasks
Cash & Working Capital Management

• Responsible for the assessment, monitoring, planning, cash, and financial services optimization.
• Forecast daily cash requirements and executive daily financing decisions including raising of funds where needed.
• Reconciliation of all daily cash receipts, daily bank deposits, daily and petty cash transactions
• Prepare short- and long-term cash flow forecasts including periodic variance analysis
• Assess investment performance benchmark and recommend changes to investment policies based on market conditions.
• Development and monitoring treasury operational policies and ensure compliance with the organization’s internal controls, policies, and procedures.
• Manage appropriate accounting procedure and processes for finance income, investments and periodic IFRS9 (International Financial Reporting Standards) impairments.

Trade Service/Forex transactions Management

• Monitor import documentation process to ensure that target lead times are achieved and ensures duty cheques and other charges are paid promptly to minimize port clearance delays.
• Ensure minimal exposure to fluctuations in forex by type of foreign contracts and financing.
• Responsible for compliance with CBN’s exchange control guildeline on documentation of form A ad A, LC and Bill of Entry and direct remittances
• Monitor export documentation process (pre-shipping and post shipping documentation, fees payment etc).
• Maintain close contact with the forex and money markets activities to keep abreast of trends and developments regarding interplay of interest rates, forex rates and purchases and purchases/utilization.
• Oversee and strengthen relationships with all banks and financial institutions as well as negotiating all bank and service fees.

Treasury Reports:

• Prepare regular reports on cash synopsis, investment, and bank exposure for Board meetings.
• Preparation of monthly cash flow forecast and treasury report.
• Prepare weekly liquidity report.

Key Performance Indicators / Key Figures

• Understand, manage, and supervise all aspects of cash flow and borrowing needs for the organization.
• Day to day management of working capital and FX sourcing for the Nigerian market.
• Working with global supply chain and customer excellence to manage the importation & exportation of goods and services (letter of credit, bills for collection etc
• Working with account receivable, sales, and customer excellence team to manage the set-up, overview, and operations of all settlement accounts (both domestic and international
• Prepare weekly liquidity report.
• Prepare monthly cash flow report.
• Provide weekly updates of the company credit lines.

Required

• Minimum of 6 years relevant experience in Treasury Management
• Bachelor’s Degree or Higher National Diploma in Accounting/Finance or any other related course.
• Professional certification will be an advantage.
• Ability to prioritize and perform under pressure.
• Good sense of responsibility, discrete and reliable;
• Accurate, efficient, well-organized.
• Pro-active and positive-minded;
• Drive for results

DESIRED

• Experience in an international company appreciated (transactions with foreign companies)
• JDEdwards (Peoplesoft Enterprise One) finance is a plus.