Job Description for Treasury Manager
Under general direction of the GCFO, the Treasury Manager to manage various banking functions such as managing daily cash flows; timely availments and repayments of loans, arranging new and renewal of banking facilities, optimizing borrowing costs, hedging of Interest rates and foreign currency, efficient utilization of Working Capital, monitoring various Financial Ratios and Banks facilities covenants, managing banking relationship, ensuring timely payments to venders & employees, monitoring bank reconciliation, supervise payroll processing; keeping track of banking transactions, supervise Treasury staff:
• Assess, monitor and manage all aspects of daily cash flows.
• Forecast daily, weekly, monthly and yearly cash requirements and execute financing decisions accordingly.
• Maintaining liquidity and ensure all funding requirements are met on timely basis.
• Assessment of short term funds requirements & arranging Murabaha, Tayseer, Tawaruq financing accordingly.
• Assessing and arranging Long / Medium Term Loans requirements at competitive rates and best terms to fund projects and purchase of fixed assets.
• Efficient utilisation of Working Capital to minimize the borrowing cost.
• Monitoring bank charges and optimizing financing costs.
• Negotiating with National and International banks for availing new banking facilities, annual review of existing facilities, restructuring existing facilities and negotiating pricing.
• Monitoring various financial ratios in line with covenants agreed with banks.
• Review the banking architecture, updating bank signatories list and propose necessary changes as and when needed, including opening and closing of bank accounts.
• Ensuring the online banking is implemented throughout the group
• Monitoring the issuance / amendment of Letter of Credits (LCs) and Bank Guarantees (BGs) / Performance Bond etc.
• Keeping track of Foreign exchange rate movements, company’s exposures & advising management on hedging accordingly.
• Monitoring Interest rates and arranging coupon settlement on existing IRS deal.
• Ensure interest rates on bank facilities’ as well as the foreign currency exchange rates are appropriately hedged on a timely basis.
• Supervise the Bank Reconciliation process, ensuring timely action to resolve reconciliation items.
• Keeping proper record of banking facility agreements.
• Review and monitor monthly payroll processing and ensure the compliance of the Wage Protection System (WPS) promulgated by the Labor Ministry of Saudi Arabia.
• Ensuring timely payment to vendors and employees.
• Understanding of the financial reporting and general ledger structure related to Treasury functions.
• Monitoring appropriate provision for accrued interest and other financial charges.
• Provide necessary information on related Treasury function to the Auditors.
• Providing necessary treasury date required for preparing annual budget and forecasting activities.
• Collaborates with the other department managers to achieve the overall goals and objectives of the company.
• Monitors and analyzes department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy.
• Advises staff regarding the handling of non-routine reporting transactions.
• Responds to inquiries from the GCFO, GFC, Finance Manager, Accounting Manager and other department managers relating to treasury functions.
• Assist in development and implementation of new procedures and features to enhance the workflow of the department.
• Provide training to new and existing staff as and when needed.
• Handle personnel issues relating to staff conflicts, absenteeism, performance issues
• Work with each direct report to establish goals and objectives for each year and monitor and advice on the progress to enhance the professional development.
• Prepare the KPIs for all direct reports.
• Additional duties as directed by GCFO and management