Spec
Our Client a Listed JSE Insurance & Investment Firm is on the hunt for a Top Treasury Manager.
The main purpose of this role is to manage and oversee the day-to-day activities of the treasury operations team and ensure that all operations run smoothly.
Responsibilities and work outputs
Daily cash management:
- Execution of intra-group transfers
- End of day detailed balance reviews
- Aggregation of bank account opening balances
Administration of bank account management platform:
- Facilitate the opening and closing of bank accounts with business units in accordance with the policies, rules and procedures provided.
- Lead banking operations including account openings, closures, updates to account information, and banking signatories.
- Maintain a bank account database and ensure completeness thereof.
- Implement and strengthen controls related to bank account database and cash management system.
- Review of the GL cash breakdown and ensure the bank balances are reconciled.
- Reconcile opened and closed bank accounts to the payment system to ensure completeness.
Manage and maintain a database of online platform users with limits:
- Assist in maintaining and review of user limits with the various banks.
Maintenance of banking relationships:
- Establish and lead new/existing bank accounts/relationships.
- Maintain details of group exposure with all banks.
- Reconciliation of bank balances to general ledger balances and analysis of movement.
- Conduct annual reviews of banking facilities with each bank with a view to updating facility agreements to align with company needs and cost-saving objectives.
- Annual review of cash management structures.
- Ensure cash management structures are updated for opened and closed bank accounts.
- Manage the overall cost of the banking infrastructure supporting the company’s activities, measured on a per-transaction basis.
- Handle bank fee expense budget and forecasts.
- Monitor and reconcile banking fees against those recorded in General Ledger.
- Monitor bank limits breaches and ensure that the clients and Banks are notified of the breaches.
- Monitor bank fees, negotiate as needed, and explore opportunities to reduce cost and improve efficiency.
- In the event of a breach, ensure that the limits are amended at the bank and the client is notified.
- Maintain updated delegation of authority and provide updates to the banks as required.
- All bank related documents are electronic/paper-filed.
Other general Treasury operations activities:
- Conducting reconciliations for Treasury specific bank accounts.
- Coordinate, run and complete implementation projects for new services, technologies, account changes, system or process changes regarding cash management to improve the cash cycle and simplify company operations.
- Negotiate pricing & implementation fees for new services and prepare cost/benefit analysis.
- Ongoing provision of Treasury reporting.
- Maintenance and updates to our Treasury operating procedures as necessary.
- Maintenance of a Financial Controls Framework and Risk Register.
Money Market:
- Handle operation and liquidity of fiduciary and surplus funds investment including money market deposits and funds.
- Oversee overall money market dealing activities and foreign exchange dealing and collaborate with other departments to ensure that all activities are aligned to practices and framework.
- Build and manage the relationship with banks to negotiate rates and processing of trades and transactions.
- Invest funds on the Money Market through analysis of rates, returns and business needs.
- Prepare and present insights on treasury exposures, activities and possible contribution to the function.
- Assist with providing ad hoc information for internal reports relating to regulatory reporting, compliance and internal policies and procedures.
Foreign Exchange execution:
- Execution of foreign exchange deals with banks.
- Transacting on FX system to capture, aggregate and approve FX deals.
- Collate the Forex requirements across divisions and optimally trade in the external market.
- Manage and monitor all foreign exchange trading and money market dealing processes and systems to ensure efficiencies across the group.
- Compliance with all laws, regulations and industry standards.
- Correlating data to assist the team in reporting of foreign transactions to the compliance team on a quarterly basis.
- Execute foreign exchange and money market dealing activities to ensure the best outcome for the group.
- Optimise Forex usage and minimise risk with foreign currency transactions.
- Contribute to policy development within the area of expertise and implementation of best practice solutions.
- Process and keep a record of Forex transactions and information received from divisions and other stakeholders.
- Capture information on the system to access up-to-date and accurate information used to trade Forex instruments.
- Monitor, address and escalate risk that may lead to an operational loss.
Competencies required:
- Strong verbal and written communication skills.
- Highly analytical.
- Strong operations capabilities.
- Self-awareness.
- Embracing diversity.
- Results driven.
- Task-oriented.
Minimum Requirements
Experience and Qualifications
- B.com Accounting or other relevant degrees in Financial Management, Economics, Treasury Management or related field.
- ACI Dealing Certificate (preferred).
- 5-10 years’ experience in Operations, Middle Office or Back Office.
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