Treasury Manager (Banking Relations) at Jotna Group

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

Application Closing Date
5th February, 2024.