Manager Treasury

Job Purpose

Develop strategies and policies and manage operations of the treasury function (cash, bank- credit & collection, foreign exchange, borrowing, and payment processing and trade products) through efficient utilization of cash and other financial instruments in a manner consistent with the objectives of the company and within appropriate guidelines. Monitors the financial structure of the company to ensure proper planning and effective utilization of resources.

Job Specific Accountabilities (Part 1)

• Work with Shareholder Treasury representatives to formulate and implement the financial planning, procurement, and investment of funds for the company, including the establishment of risk parameters.
• Manage the company’s cash (including foreign exchange transactions) and associated records, cash calls etc. in order to ensure effective handling and availability of cash required for operations.
• Monitors, forecasts and recommends to the management corporate cash fund flows/cash call schedules and accounts balances. Administers the cash call funds in accordance with approved policies.
• Controls utilization of funds including constant review and analysis of the variances between the forecasts and actual performance.
• Lead the preparation of cash flow projections to facilitate the planning for adequate liquidity to meet major financial requirements of the company.
• Manages and monitors daily cash transactions and balances to meet company requirements.
• Manages the compilation of the annual and monthly cash requirements on the basis of information received from various functional units and supervises the preparation of related forecasts.
• Manages the evaluation of requests for the establishment, increase or decrease, or closing of petty cash funds for the company and provides recommendations as how to improve cash fund management.
• Manages the preparation of statement of funds requirements for major payments based on the request for Accounts Payable function.
• Evaluates Modifications/Cancellation of Cash Fund requests and discusses with concerned division/dept. the needs and justifications, if necessary. Evaluates and verifies the approved new cash fund in case of establishment/increasing of the cash fund and transmits a copy to the Accounts Payable for disbursement.
• Reviews all the cash fund authorization including receiving and deposit of cash and cheque payments, maintains the imprest account and Bank cheques.
• Approves the up-to-date list of Foreign Exchange Rates that are maintained by all Divisions/ Departments. Ensures that foreign exchange transactions are made appropriately as required by the corporate Entity at the best possible rates and monitors compliance of Treasury policy regarding foreign risk.
• Directs, manages and supervises all activities related to Bid Bonds & other Bank Guarantees.
• Manages and supervises the maintenance of the Bank Guarantee Management System to track all garantees received by Finance Division. Ensures that Bank Guarantees received are in compliance with company’s policies and that the process of receiving, safekeeping and release of Bank Guarantees is efficiently administered.
• Manages and supervises high valued Bank Guarantees related to the Major Projects in line with the project agreement and terms & conditions.
• Manages communications between the contractors/vendors on submission of new bank guarantees including Major Projects and to evaluate discrepancies, if any, as per procedures.
  
  

Job Specific Accountabilities (Part 2)

• Ensures that the process of reviewing, safekeeping and negotiation of Letters of Credit in favour of company is efficiently administered
• Manage bank reconciliations in order to ensure accuracy and resolve any variances/outstanding items.
• Recommends to the senior management any changes regarding bank accounts and their authorized signatories, including opening and closing of accounts and, addition and deletion of authorized signatories.
• Monitors and ensures that all financing activities comply with all legal, contractual and regulatory requirements in order to protect the company position.
• Establishes and maintains good working relationships with key external parties relevant to the Treasury, such as bankers and financial institutions while ensuring the Company identity is safeguarded and information disclosure is carefully monitored.
  
  

Job Specific Accountabilities (Part 3)

Generic Accountabilities

Operational Plans

• Develop consistent and realistic long and short term operational plans for the Department in line with the Division objectives and manage the implementation of the approved long and short term plans and ensure they are effectively converted into its performance objectives to realise the Division Objectives and established service levels.
  
  

Budgets and Operational Plans

• Develop and manage the Department annual budget in line with the Division’s business objectives and operational plans ensuring that adequate funding provision is made for all Department activities.
• Monitor expenditure against approved Department budget on a regular basis; investigate, highlight and reconcile any significant variances to ensure effective performance and cost control.
  
  

Policies, Systems, Processes & Procedures

• Develop and implement appropriate Department policies, processes, systems, standards, procedures and internal controls, Company guidelines in order to support execution of the Division’s work programs in line with Company and International standards.
  
  

Performance Management

• Contribute to the development of the Division’s KPI’s and ensure proper cascade of the Performance objectives within the Department and establish monitoring mechanisms to ensure delivery of these objectives and promote a performance driven culture.
• Manage the implementation of the Company Performance Management System for individuals within the Department in accordance with Company approved guidelines.
  
  

People Development

• Develop knowledge, competencies and innovative spirit in the Department and support the establishment of Personal Development Plans (PDP’s), Succession Planning and Talent pipeline within the Department in coordination with the Human Capability Group to continuously develop employees with emphasis on UAE Nationals to meet Emiratization targets.
  
  

Organisation Structure and Development

• Review, develop and recommend the appropriate organisation structure for the Department that will best utilise human capital while proactively incorporating sustainability into the on-going work practices to meet the business objectives.
  
  

Risk Management

• Contribute and support establishment of a Corporate Integrated Risk Management System within the Department, while identifying and assessing relevant domain risks and implement measures to manage and mitigate all identified risks within the Department.
• Communicate corporate business ethics and Company’s Code of Conduct to employees within the Department and ensure compliance to the Corporate Policies and guidelines.
  
  

Innovation and Continuous Improvement

• Promote an organisation culture that encourages innovation, enhances employee motivation and supports initiatives for implementation of Change Management to continuously improve the Department operations and services.
  
  

Generic Accountabilities (continue)

Health, Safety, Environment (HSE) and Sustainability

• Support the institution and implementation of an HSE culture and ensure compliance with relevant HSE policies, procedures, systems & controls and applicable legislation and sustainability guidelines across the Department in line with international standards, best practices and ADNOC Code of Practices.
• Ensure adequate HSE training and induction for all Department employees to meet HSE standards.
  
  

Management Information Systems (MIS) and Reports

• Ensure that all Department MIS and progress reports are prepared to provide accurate and timely reports and necessary information to Company Management to effectively manage the business.
  
  

Internal Communications & Working Relationships

Contact with line Manager/ peers and other employees within the company/Group as required

External Communications & Working Relationships

Contact with external parties including consultants, third party service providers, and government agencies as required

Minimum Qualification

Bachelors in Accounting/ Finance with MBA preferably

Minimum Experience, Knowledge & Skills

12 years of experience in Accounting/ Treasury

Professional Certifications

As applicable

Work Condition, Physical effort & Work Environment

Physical Effort

Minimal

Work Environment

A/C environment, could be exposed to the prevailing weather conditions like heat, humidity & dust during occasional site visits.

Additional Details

Job Family / Sub Family: Finance / Treasury & Risk Management

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