JOB SUMMARY

The head of treasury is responsible for managing the group treasury functions. The role is pivotal to overseeing the cash flow, revenue and overall finances of the group companies to enable them to meet their working capital requirement to operate smoothly on day-to-day basis and in the long term so that business objectives and targets are met.

He/she provides treasury strategy advice. The position will also provide varieties of cash management advices within the group, particularly in relation to current accounts, borrowings, foreign exchange, effective payments and collections, and banking relationships.

The role will include managing multiple bank accounts, bank loans, compliance with banking and foreign exchange regulations, identification of potential issues and solutions, and gives recommendations so that business objectives are met.

DUTIES AND RESPONSIBILIES:

• Active management of working capital requirements in coordination with respective heads of finance of group companies.

• Forecast daily cash requirements and execute daily financing decisions, in coordination with group supply chain, and sales and heads of finance of respective group companies.

• Assist to group supply chain with opening of FX documents for import of materials (E.g., different letters of credits, CAD/TT, foreign exchange permits, etc)

• Ensure compliance with National Bank of Ethiopia regulations for all FX transactions (incoming transfers, outgoing payments, registration, etc) including; capital registration, supplier credits shareholder/ external loan approval and registration, dividend approval and payments, etc.

• Actively manage and monitor allocations of FX to the group companies through available channels and mechanism e.g NBE queue system, supplier credit and external loans.

• Evaluate, develop and monitor banking relationships and assist in actively building and developing strong strategic relationships with strategic banks and the group.

• Manage and administrate current accounts (opening, closing, signatories, bank statements, settlements, issue resolution, etc) 

• Manage long-term and short-term financing strategies, e.g bank term loans, overdrafts.

• Negotiate terms and conditions, fees, interest rates, repayments for current accounts and loan agreements, overdrafts, foreign exchange transactions.

• Evaluate, develop and implement cash management systems to optimize efficiencies.

• Conduct benchmark studies of banks and their services to evaluate whether they fit the group requirements.

• Ensure compliance with banking sector regulations.

• Evaluate alternative long-term and short-term borrowing strategies and make recommendation to management/ executive committee in accordance with the capital structure guidelines.

• Understand and manage appropriate accounting procedures and processes.

• Implement and monitor the company payment procedures and balances.

• Manage, direct and develop cash management staff. 

Job Requirements

COMPETENCIES: -

• Ability to challenge senior leadership in a constructive manner.

• Strong analytical and problem-solving skills.

• Developed presentation and communication skills (fluency in spoken and written English)

• Strong moral and ethical principles.

• Strong negotiating skills with both financial and commercial issues.

• Proficient understanding of business sensitivities and confidentiality

• Computer skills

• Knowledge of banking, export/ import regulations

• A dedicated, hardworking individual, with strong attention to details

• Management and leadership skills

• Integrity and good ethics

• Crisis management ability

QUALIFICATIONS REQUIRED

Education

• BA degree in finance, accounting or equivalent, preferably a qualified accountant (ET)

• Excellent knowledge and understanding of wide range of treasury, cash flow management, banking and foreign exchange regulations.

Experience

• 5-8 years of experience in various finance roles, with 3+ years of experience in a similar role, ideally in FMCG industry in a supervisory role.

How to Apply

Application instruction

Please title your application with subject line: -"Head of Treasury"

Candidates meeting the above-required qualifications are invited to send their CV through email: careers@54fmcg.com 

Only those applicants who meet the above criteria will be contacted for an interview.

Application deadline: September 13th, 2022