Executive Head: Group Treasury

9 hours ago

Midrand, South Africa Vodafone Full time

**Your responsibilities will include**:
Oversee the centralised cash pooling in South Africa, in line with group treasury policy, i.e. iro security, liquidity and yield
Review cash flow forecasts and monitor on-going liquidity requirements across main SA entities and African entities
Effectively support external bi-annual dividend distributions, bi-annual tax payments and other major payments throughout the year by ensuring sufficient cash collected via the centralised treasury function

Investigate available options and internal and external sources of funding to finance mainly capital expenditure and mergers and acquisitions (“M&A”) across the Vodacom group of companies. Structure each loan or preference share funding transaction in the most optimal way
Review and negotiate agreements and borrowing margins
Build and maintain ethical and sound relationships with banks and other lenders
Drive reduction in and maintain efficient consolidated cost of debt
Carry out thorough analysis and prepare robust group board papers on short term borrowings, long term borrowings, debt maturity profile and fixed-floating mix
Responsible for determining IFRS16 discount rates for African markets and liaising with auditors on how the rates were arrived at
Ensure that group capital structure is aligned with both business strategy and financial policy, both medium and long term
Monitor and manage various borrower’s covenants ratios with various stakeholders
Integral to the YeboYethu preference share funding program, meeting the bi-annual priority of payments, managing the preference share agent relationship and contributing to the board papers
Provide information requirements needed to maintain good investor relationships

Assess requirements for short-term and long-term inter-company funding;
Fully understand the Companies Act, as amended, Section 45 for related and inter-related financial assistance and prepare robust board papers for regular and ad hoc financial assistance
Undertake benchmarking exercises to ensure arms-length pricing for internal and external funding

**.**:
Analyse and interpret all financial risks, adhere to policies and employ measures to mitigate these, paying particular attention to:
Interest rate risk
Foreign exchange risk (transactional hedging and dividend inflow hedging)
Counterparty risk (e.g. bank risk assessments) for operational cash and M-Pesa customer funds

Carry out an annual review of treasury’s Delegation of Authority (“DOA”) and group treasury policy and African treasury policies (i) to ensure full alignment with Vodafone group policy and (ii) to strengthen or reformulate the policy if necessary (based on operational feedback)
Present proposed policy changes to the board
Ensure divisional policies and procedures, systems and controls are updated and aligned with group treasury policy at all times
Ensure that all treasury transactions are accurately recorded
Attend present on treasury matters and projects on an ad hoc basis
Attend monthly M-Pesa Risk and Compliance meetings and M-Pesa Risk and Compliance board meetings on an ad hoc basis
Provide regular training to African markets on group treasury policy
Maintain
Understand the SARB regulations on cross-border transactions, foreign direct investments and foreign exchange hedging to provide treasury advice on operational projects and M&A deals
Review and approve the issuance of bank guarantees
Liaise with (i) ME Treasury & Funding, EHOD Legal Affairs, EHOD Tax on major funding issues (ii) Op Co counterparts on critical projects and (iii) relevant external stakeholders, as required.

Relevant B. degree or recognised Treasury Qualification
Broad business experience with a minimum of 10 years in a treasury environment / corporate treasury role, 3 years of which should have been in a supervisory role.
Required to provide professional guidance to and manage a team of senior specialists / specialists. Leadership needs to be persuasive, ethical and in line with financial strategy.

**The role requires**:
A key expert with in-depth knowledge of treasury management able to support financial directors / executives in all group companies on treasury matters
Comprehensive knowledge of how corporate funding arrangements contribute to strategic decision making and operational performance across group operating companies
Responsibility for professional direction within a key expertise area
Good analytical skills, analysing information and prioritising decisions based on complex dynamic material
Ability to influence decisions through advice that have sizeable impact on the availability and management of funding
Must be able to challenge the advice of bankers pitching trade ideas, funding solutions investment products or derivative hedging solutions
Provide technical treasury advice to internal customers such as treasury and/or finance managers of operating companies on issues such as what the subsidiaries should do with any surplus cash, fund

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