Graceco Nigeria Limited is a food processing and manufacturing company which specializes in consumer goods and the production of input for bakers and the confectionary industry.
We are recruiting to fill the position below:
Job Title: Treasury Manager
Location: Alagbado, Lagos
Report: Director, Finance and Administration
Status: Full time
Level: Management staff
Job Summary
- Sourcing of funds required for the Company's operations at optimum prices and lowest risk and managing relationships with Financial Institutions
- Protecting the Company's margins through reduction in Net Financing costs and maximizing income / Earnings on liquid assets
- Managing the Treasury back office and support operations
- Coordinate the existing treasury team.
Job Description
Sourcing of funds required for the Company's operations:
- Preparation of a daily summary of the company's Financial position
- For short-term shortfall in financing, arrange funds using either bank loans, bank overdraft, leases, issuance of Commercial papers, or other Financial instruments
- Daily follow up to ensure the conversion of all Receivables into Cash
- Following up with Accounting for invoicing of goods to clients
- Preparation of Cash Flow Forecasts for weekly and monthly Cash Inflows and Outflows
- Improving the company's funding profile and capital efficiency and Source Long Term funds for Long Term projects
- Preparation of Debt analysis and a schedule of all bank overdraft and loan facilities
Managing relationships with Financial Institutions and sourcing of funds at optimum prices and lowest risk:
- Sourcing of foreign currencies at optimum prices and lowest risk
- Sourcing of funds at optimum prices and lowest risk
- Improving the Company's margins through reduction of the Net Financing costs
- Improving the company's funding profile and capital efficiency
- Daily, monitor transactions in the company bank accounts and review daily bank statements
- Monthly, preparation of bank reconciliation for all current and facility accounts
Protecting the Company's margins and assisting management achieve its Earnings objectives:
- Liaise with Procurement and Logistics and facilitate prompt payment to Suppliers of goods and services
- Follow up with banks for timely opening and transmission of LCs and Bills for Collection for imports
- Protecting the company's margins through control and reduction of Finance costs
- Drive rigorous and disciplined tracking of Cash Flow against targets with closer monitoring of gaps on weekly basis and encouraging faster reaction to promote a culture of disciplined financial management across the organization
- Computation of Interests due on client's delayed settlement of invoices and loans
- Checking the accuracy of Interests and other bank charges in bank statement
- Checking the accuracy of Investment income computed by Financial Institution
Management of investments in liquid assets, stocks and shares in private and public companies:
- Ensuring prompt investment of surplus funds in available Financial instruments at optimum income and lowest risk
- Monitor share prices in the market and advise Management / Stock broker on purchases or disposals
- Follow up with Financial Institutions to ensure prompt receipt of investment income when due
Managing the Treasury back office:
- Ensure that all funds are appropriately banked
- Ensure that Customers accounts and the Company's bank accounts are updated daily with Credit Alerts received for bank transfers by Customers
- Communicate all inflows to Management on daily basis
- Scheduling and organising prompt payment of Suppliers invoices and providing weekly information on disbursement
- Ensure control and verification of all Cash transactions and conduct surprise Cash Count in all locations where the company is maintaining Cash Float
Others:
- Making recommendations to management on observations in the course of review
- Any other responsibility as may be assigned by the Finance & Control Director
- Provide leadership for the Treasury team
Requisite Qualifications/Experience
- B.Sc. (1st or 2nd Class Upper) in Social Sciences or Management
- Required certification: FCA, CTP
- Minimum of 7 years’ experience as treasury manager; evidence of career progression needed
Required Skills /Attributes:
- Good oral and written communication skills
- Good interpersonal skills, people management and negotiating skills
- Knowledge of financial management in manufacturing sector
- Strong sense of professionalism, integrity, and sound judgment and tact
- High level of sincerity and honesty with pragmatic and proactive approach to business
- Ability to maintain confidentiality
- Proficiency in the use of Enterprise wide Accounting Application such as ERPNext, SAGE or SAP, Ms Office packages and Power Point Presentation.
Required knowledge:
- International Financial Reporting Standards (IFRS) as published by IASB
- Financial Reporting Council of Nigeria Act, 2011
- CBN monetary guidelines
- Bankers Tariff
- Pensions Reforms Act 2014
- Fiscal policy guidelines as rolled out by the Fed. Ministry of Finance from time to time
- Global best practices in Treasury management.
Application Closing Date
25th October, 2018.
Method of Application
Interested and qualified candidates should forward their Resume to:careers@graceco.com.ng
Sorry the application deadline for this job has elapsed
