Treasury Manager (Banking Relations) Job 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 Position: Treasury Manager (Banking Relations)
Job 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.
  • 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.
  • 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
  • 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
  • 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).
  • 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.
  • 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.
  • 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.
  • 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.
  • 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 of 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

Note: Candidates with experience in Treasury Management in a manufacturing firm or Relationship Managers in Commercial Banks who manage Conglomerates / Manufacturing clients will be preferred.