Jotna Group is a leading beverage manufacturing and related packaging company which comprises of 3 operating companies, The La Casera Company Plc. (A Leading Beverage Manufacturing Company in Nigeria), Prima Corporation Limited (Largest manufacturers of Preforms & Closures in West Africa), Engee PET Manufacturing Nigeria Limited (Manufacturers of food-grade PET Resins with a world-class plant, located in Igbesa, Ogun State, Nigeria).
We are recruiting to fill the position below:
Job Title: Treasury Manager (Banking Relations)
Location: Coker, Lagos
Employment Type: Full-time
Reports to: Group Head, Treasury
Job Summary
The Treasury Manager (Banking Relations) will be responsible for the following:
Responsible for all aspects of incoming and outgoing payments, including recommendation and management of systems for the effective collection of revenues and payment obligations.
Accountable for maintaining proper records of bank position and movement of funds for the Group.
Ensures policies and procedures meet the organizations needs and objectives and regulatory bodies requirements
Key Responsibilities
Operations:
Day to day supervision of treasury activities including centralized cash and debt facilities management.
Manage the cash reporting processes and the design / implementation of intercompany funding strategies.
Oversee the Processing, verifying, and posting of receipts for goods purchased.
Supervise the tracking of all payments and expenditures, including payroll, purchase orders, invoices, statements, etc.
Develop and ensure proper working capital utilization & operational e.g. negotiation, opening and retirement of LCs
Manage balance sheet and day-to-day liquidity to support the business needs.
Drive treasury operations policies, controls, and procedures in compliance with international best practices.
Provide technical and other support for mergers and acquisitions and other projects as need arise.
Investment Management:
Direct, monitor and trade investment portfolios including working capital, high-yield, escrow, and other portfolios.
Develop and implement recommendations in cash investment strategies and policies, including monitoring compliance
Allocation of cash balances, maintains investment records and prepares expense and earnings forecasts.
Reduction in exposure to the volatility of foreign exchange and interest rate.
Review and recommend changes to the investment policies based on the prevailing market conditions.
Monitor and analyze market developments as well as their implications for fixed income portfolio (bonds/bills).
Supervise fiduciary funds and surplus funds investment including money market deposits and funds.
Manage investment and debt of the groups fund – short, medium- and long-term financing.
Fund Management:
Timely review of funding needs, monthly reporting of all treasury activities to senior management.
Ensure the availability of funds at a minimal cost, manage the liquidity position of the group.
Evaluate alternative long-term borrowing strategies and make recommendations in accordance with the capital structure guidelines
Management of Company’S Credit Facilities With Banks:
Maintain strategic relationships with the banks, credit rating agencies and other relevant financial institutions.
Remittance of Other Foreign Currencies Denominated Payments
Liaise with banks to optimize the opportunities for sourcing forex from the FX windows for settling maturing obligations.
Purchase of Hard Currency
Purchase hard currencies from the open market to reimburse staff for their official foreign currencies-denominated expenses.
Cashflow Management
Overseeing cash flow, revenue, and overall finances of the organization.
Risk Management:
Ensures the adequacy of insurance coverage for company's assets including group life assurance scheme.
Relationship Management And External Relations:
Preparation of weekly/monthly treasury reports in line with IFRS for new or evolving standards.
Ensure policies and procedures meet the organizations needs and objectives and regulatory bodies requirements.
Receivables And Payables:
Overseeing day-to-day accounts payables & receivables management, cash flow, revenue, and overall finances of the organization.
Key Performance Indicators
Finance:
Monthly Balance Sheet reconciliations.
Availability of FX for foreign transactions.
Delivery of cashflow budget.
Percentage error rate in raising cheques.
Percentage rate in daily postings to ERP.
Percentage error rate in backup documents referencing.
Improvement of liquidity position of the company
Operations:
Enhancement of SOP to reflect efficient policies to govern risk management processes.
Review of standard reporting template to capture loan and forex reports.
Establishment of streamlined banking relationship to avoid duplicity.
Development of appropriate and well-structured risk management framework.
Timely settlement of intercompany differences (borrowings & loans)
Ensure forex sourcing and allocations from CBN to liquidate IFF obligations.
Reduction in exposure to volatility of foreign exchange and interest rate.
Establishment of appropriate financial planning to meet project timeline and funds disbursement.
No. of detected breaches in internal controls.
Presence of a centralized treasury function.
Presence of properly managed banking relationships.
Information security compliance
Transaction error rates
Audit rating
Internal customer satisfaction.
Increase in global sourcing strategies
Employee Performance:
Increase efficiency in employee performance.
Utilization of treasury standards and procedures.
Adherence and compliance to deadlines.
Training and assessment pass rates.
Increase in rate of employee satisfaction within department.
Requirements
Bachelor’s Degree in any relevant is required.
Maximum of 10 years work experience with 5 years in the banking or manufacturing industry.
Master's degree in business administration, finances and any related business field is an added advantage.
Strong knowledge of financial accounting and IFRS accounting standards.
Strong knowledge of financial markets and products, including funding, cash management and derivatives.
Ability to manage investment and debt of the groups fund – short-, medium- and long-term financing.
Ability to properly document and authorize credit facilities in line with company's laid down policies and regulations.
Ability to produce and review treasury reports and perform compliance activities.
Ensure cordial relationship is maintained with the bank.
Good knowledge of CBN and other relevant regulations and guidelines
Note: Candidates with experience in Treasury Management in a manufacturing firm or Relationship Managers in Commercial Banks who manage Conglomerates / Manufacturing clients will be preferred.