Corporate Treasury and Trade Manager at HBM Nigeria Plc (Formerly Lafarge)

About the job 

• The role ensures the efficient and coordinated performance of treasury operations across Lafarge Africa Plc, including Ashaka and Readymix, by overseeing administration, analysis, and execution throughout Nigeria.
• Key responsibilities include implementing internal control standards, ensuring compliance with Central Bank of Nigeria FX manual guidelines for trade and FX transactions, and adhering to Lafarge Group policies.
• Additionally, the role involves actively shadowing the Head of Corporate Finance & Treasury and managing cash and financial services to align with the company’s objectives

What you'll be doing 

Treasury Management

• Prepare weekly Treasury Journals and send to Head, Corp Finance and Treasury for review
• Ensure prompt reconciliation of all corporate credit and prepaid cards
• Investment Management (Roll-Overs and Initiation on all companies investments)
• Credit line Facility Management (Pricing monitored in line with market realities,Roll-Overs, and Initiation on all Company Credit facilities )
• Full responsibility and participation in the Company financing
• Ensure all financing document are kept securely
• Engage banks consistently on Treasury activities improvement

Administration of Treasury Operations

• Monitor and report cash balances daily to Head of CF&T for decision making
• Manage cash flow through FT as need arises
• Perform daily reconciliation of auto-stream of payments from Cash collection portal(ISW) into SAP and follow through on resolution of all exceptions within 24hours
• Confirm and ensure all Posting are done for all manual payments on SAP
• Liaise with the Accounts Payable team and ensure all suppliers/contractors payments are prepared in line with the Company’s payment terms.
• Seek approval for all such payments and release duly approved payment to the banks via Auto Pay portal or manually as the case maybe
• Coordinates between the banks and the AP team for all suppliers/bank- payment related issues and resolve within 24hours.
• Processing of all invisible transactions & remittances and Interfaces with Procurement Team, Legal & Regulatory & Banks on NOTAP approvals and remittance of same.
• Supervise Treasury operations team members

Trade Services Management

• Monitor and ensure all Trade facilities with various Banks are within limit and priced according to competitive market realities
• Collaborate with Banks to secure FX from the Central Bank of Nigeria to settle LCs and Foreign OTT payments
• Interface with banks, legal and procurement teams on LC documents, contracts onadvance payments, bonds etc on Letters of Credit
• Ensure monthly reconciliation with Banks are done on all processed LC payments, FX purchases and advances to vendors.
• Ensure that Banks send in their Trade monthly report giving a view of all trade transactions with them and their corresponding status which should be in alignment with our Books and internal ledgers. Banks send quarterly audit confirmation letter to that effect
• Manage all Letter of Credits (LC) request to Suppliers
• Manage all Other Telegraphic Transfer requests (OTT) payment requests to Suppliers
• Support to Procurement Team on all Trade transactions to review payment terms to suppliers in line with International UCP 600 and ISBP standards
• Ensure timely delivery Shipping documents and Pre Arrival Assessment Documents are sent on time to Shipping team to avoid delays and demurrage
• Monitor and ensure Bank’s compliance on Service level Agreement for timely processing of Trade transactions
• Supervise Trade Services team members.

Administration of Trade Services Operation

• Timely Processing of all foreign OTT payments in line with policy documents within 24hrs of receipt.
• Prompt Processing of Letters of Credit within 24hrs.
• Ensure prompt Opening and registration of all Form Ms on the Nigerian Customs Single Window.
• Ensure all LC documentation are finalized within stipulated turnaround time and agreed service level agreement with Banks
• Review and agree LC drafts with suppliers before final transmission of the LCs
• Creating noted items for all processed LCs in SAP and Timely Posting in SAP of all Advance payments to vendors, short term loan, forwards, deposit for Import transactions to be done which is done daily as it occurs
• Review and approval of journals to GL team for Cash in Transit bookings for purchases, forwards, short term loans before they are booked
• Ensure Monthly Trade reports received from them Bank are reconciled against the internal ledgers and they are in alignment

Reporting & Control

• Ensure that treasury forms are raised for all foreign transactions and are forwarded to AP for processing into GL.
• Preparation of cash flow budget and forecast
• Recommend any process improvements and accounting treatments of transactions involving cash collection and payment to his/her N+1

Customer Relationship Management

• Be the link between Finance department and Customer Service department on all customers’ payment-related (cash collection) issues.
• Ensure that all customer complaints in this regard are resolved effectively within 24 hours.
• Fully responsible for attending to all bank reconciliation issues relating to treasury operations and resolve within 48 hours

External Audit

• Ensure that all Treasury related account schedules are prepared and submitted to the Head Corporate treasury and Finance for external audit purposes within the timeline specified.
• Ensure that audit circularization are delivered to the banks on time and that all discrepancies are reconciled.
• Ensure that all trade accounts and balances align with bank’s reported positions and deliver all requested Trade schedules within specified time lines.

Health & Safety

• Ensure that Lafarge safety rules and standards are maintained at all times.

Job Dimensions

Key interfaces, stakeholders and relationships:

• Head, Finance Shared Services
• All payment initiating units, i.e. basically the whole organization
• Plant Control section of Finance
• Tax section of Finance
• Treasury section of Finance
• Internal Audit
• Suppliers
• Contractors

What we are looking for

Critical Experience/ Qualification

• 8-10 years post NYSC working experience with minimum of 4years on similar role and in Managerial positions
• Bachelor's Degree/ HND(Accounting/Social sciences)
• ACA /, ACCA

Critical Knowledge 

• Good knowledge of an ERP environment – ideally SAP
• Understanding and correct application of VAT regulations with FIRS
• Understanding and correct application of WHT regulations with FIRS
• Internal controls
• Advance MS-Excel Knowledge
• Good presentation skills for educating external clients on company policies and procedures
• Good experience on treasury transactions (FX payments, letters of credit, hedging accounting, cash position reports)