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:
• Aggregation of bank account opening balances
• Execution of intra-group transfers
• End of day detailed balance reviews
Administration of bank account management platform:
• Lead banking operations including account openings, closures, updates to account information, and banking signatories
• Facilitate opening and closing of bank accounts with business units in accordance with the policies, rules and procedures provided.
• Maintain 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.
• Reconciliation of bank balances to general ledger balances and analysis of movement
• Request that bank accounts are set up on FACS and all related systems platforms, Fintegrate, TMS.
• Manage and maintain 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.
• Conduct annual reviews of banking facilities with each bank with a view to update facility agreements to align with MMH 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.
• Monitor bank fees negotiate as needed and explore opportunities to reduce cost and improve efficiency.
• Handle bank fee expense budget and forecasts
• Monitor and reconcile banking fees against those recorded in General Ledger.
• Monitor bank limits breaches and ensures that the clients and Banks are notified of the breaches.
• 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 electronically/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 and MI.
• Maintenance and updates to our Treasury operating procedures as necessary.
• Maintenance of a Financial Controls Framework and Risk Register.
• 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 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.
• Compliance with all laws, regulations and industry standards
• Assist with FIC reporting for Cash Threshold reporting.
• Correlating data to assist the team in reporting of foreign transactions to the compliance team on a quarterly basis.
• 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.
• 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.
• Conduct Forex hedging trades to protecting MMI from unwanted movement in the foreign currency exchange rates.
• Contribute to policy development within area of expertise and implementation of best practice solutions.
• Process and keep record of Forex transactions and information received from divisions and other stakeholders.
• Keep abreast and share of financial markets, economic conditions and regulatory issues and address impact on MM Treasury activities.
• Capture information on system to access up to date and accurate information used to trade Forex instruments.
• Monitor, address and escalate risk that may lead to operational loss.
• Strong verbal and written communication skills
• Highly analytical
• Strong operations capabilities
• Self- Awareness
• Embracing Diversity
• Results Driven
• Task orientated
Experience and Qualifications
• B.com Accounting or other relevant degree in Financial Management, Economics, Treasury Management or related field.
• ACI Dealing certificate (preferred).
• Minimum of 10 years' experience in Operations, Middle Office or Back Office Environment.