Treasury Manager

4 weeks ago

Johannesburg, South Africa The Recruitment Council Full time

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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