Treasury Associate at Food Concepts Plc

Food Concepts commenced operations in 2001. From inception, our aim has been clear-cut and focused: to revolutionize the food sector in West Africa and to deliver extraordinary satisfaction to our stakeholders.

Since launching in 2004, Chicken Republic (Subsidiary of Food concepts) has already opened 55 stores in Nigeria and Ghana. On this basis, we are proud of the brand’s hard-earned reputation as the fastest growing chicken QSR in West Africa and the number 1 chicken QSR in Nigeria (both in revenues and number of outlets). In addition, Chicken Republic was ranked as one of Nigeria’s top 20 brands across all categories (Financial Standards Awards 2009).

We are recruiting to fill the position below:

Job Title: Treasury Associate

Requisition ID: 1720 
Location: Nigeria
Department: Finance Department
Reports to (Title): Treasury Manager

Job Purpose

• To ensure timely report on daily cash position for utilization of funds.
• To monitor and coordinate the banking transactions/activities of the organisation.

Core Responsibilities and Key Result Areas
Managing Cash Assets:

• Prepare daily cash position report
• Monitor and follow-up with investment placement including interest and roll-overs
• Review imprest system
• Review daily sales and daily lodgement verification
• Vet payments   to suppliers and ensure invoices are in order for payment
• Assist in listing vendors for payment
• Ensure the cash position is updated to inform the management about firm liquidity and where cheques are written.

Treasury Advisory:

• Advise management on utilization of surplus funds
• Assist to evaluate the fiscal decisions of their organization and recommending the best possible course of action.
• Analyse the risks and rewards of various decisions on a regular basis
• Ensure the management understands the risks of any given financial decision and is aware of alternative decisions they might be better off making instead.
• Recommends fixed cash to yield interest for the company, in a case of availability of excess funds.

Bank Oversight:

• Monitor daily bank balances to payment instruments are not issued on unfunded account.
• Manage bank POS terminals and deployment
• Maintain relationship with bank officials
• Ensure all treasury transactions are posted and reconciliation of GL and sub GL accounts
• Confirm and verify bank charges
• Review bank reconciliation report
• Monitor and ensure payment processes are strictly adhered to
• Assist in guiding the bank reconciliation process monthly
• Confirmation of cheques.

Key Performance Indicators

• Provision of Daily cash report
• Provision of Bank Reconciliation Report
• Percentages of account balances reported daily
• Percentages of cash transactions reconciled daily
• Time taken to create month-end accounting journals for all treasury transactions
•  Rate of compliance with internal controls especially on payments
• Accuracy of forecasted investment income.

Job Specifications

• A good First Degree in Accounting or Finance
• Minimum of  3 years in a core financial/treasury capacity
• Possession of a Post graduate degree in Accounting/Business Administration or related field is an added advantage
• Membership of the Certified Treasury Professional(CTP), ICAN, ACCA, CFA or any other related professional qualification is required, as well as courses on  Treasury and Fund Management..

Decision Expectations:

• Recommend operational, strategic and financial decisions
• Make recommendations to the management on best investment alternatives
• Enforce agreed decisions
• Assign work to subordinates
• Monitor subordinates’ work performance
• Appraise/evaluate subordinates’ performance.

Knowledge Requirements:

• Knowledge of Cash Management Principles
• Knowledge of banking systems and processes
• Knowledge of the Food/QSR Industry processes
• Knowledge of the Microsoft Excel software.

Application Closing Date
Not Specified.