Treasury Associate at Food Concepts Plc

Job Purpose

• To ensure timely report on daily cash position for utilization of funds. To monitor and coordinate the banking transactions/activities of the organisation.
• Core Responsibilities and Key Result Areas

Managing Cash Assets

• Prepare daily cash position report
• Monitor and follow-up with investment placement including interest and roll-overs
• Review imprest system
• Review daily sales and daily lodgement verification
• Vet payments   to suppliers and ensure invoices are in order for payment
• Assist in listing vendors for payment
• Ensure the cash position is updated to inform the management about firm liquidity and where cheques are written.

Treasury Advisory

• Advise management on utilization of surplus funds
• Assist to evaluate the fiscal decisions of their organization and recommending the best possible course of action.
• Analyse the risks and rewards of various decisions on a regular basis
• Ensure the management understands the risks of any given financial decision and is aware of alternative decisions they might be better off making instead.
• Recommends fixed cash to yield interest for the company, in a case of availability of excess funds.

Bank Oversight

• Monitor daily bank balances to payment instruments are not issued on unfunded account.
• Manage bank POS terminals and deployment
• Maintain relationship with bank officials
• Ensure all treasury transactions are posted and reconciliation of GL and sub GL accounts
• Confirm and verify bank charges
• Review bank reconciliation report
• Monitor and ensure payment processes are strictly adhered to
• Assist in guiding the bank reconciliation process monthly
• Confirmation of cheques

Key Performance Indicators

• Provision of Daily cash report
• Provision of Bank Reconciliation Report
• Percentages of account balances reported daily
• Percentages of cash transactions reconciled daily
• Time taken to create month-end accounting journals for all treasury transactions
•  Rate of compliance with internal controls especially on payments
• Accuracy of forecasted investment income

Knowledge Requirements

• Knowledge of Cash Management Principles
• Knowledge of banking systems and processes
• Knowledge of the Food/QSR Industry processes
• Knowledge of the Microsoft Excel software

Job Specifications

• A good first degree in Accounting or Finance
• Possession of a Post graduate degree in Accounting/Business Administration or related field is an added advantage
• Membership of the Certified Treasury Professional(CTP), ICAN, ACCA, CFA or any other related professional qualification is required, as well as courses on  Treasury and Fund Management
• Minimum of  3 years in a core financial/treasury capacity

Decision Expectations

• Recommend operational, strategic and financial decisions
• Make recommendations to the management on best investment alternatives
• Enforce agreed decisions
• Assign work to subordinates
• Monitor subordinates’ work performance
• Appraise/evaluate subordinates’ performance