Our client in the Tobacco industry – Blue Chip Employer, seeks to appoint a Treasury Manager.
Purpose:
Main duties involve taking up responsibilities in treasury, compliance, reporting, and financial planning within the finance department.
Responsibilities:
- Cash flow planning and reporting.
- Planning and managing the Company’s funding requirements.
- Timely communicating forecast borrowing positions.
- Daily review and authentication of bank transactions.
- Ensuring the security of funds received and disbursed by following procedures for proper controls and timely deposits/disbursements with accurate reports.
- Managing relationships with banks.
- Share the monthly Facility Utilisation report with the Head of Finance by the 10th of every month.
- Attending to loan facility renewals within set timelines.
- Monitoring debt levels and compliance with debt covenants including but not limited to:
- Ensuring that loans and interest are serviced within stipulated deadlines.
- -Compliance with security covenant ratios.
- -Directing Logistics with regards to the allocation of Form CD1s and export receipts amongst lender banks.
- Submission of financial reports to lenders within set deadlines:
- Monthly stocks and debtors return.
- Monthly Management Accounts.
- Audited Financial Statements.
- Any other reports required by lenders/banks.
- Providing evidence of sufficient security cover required by lenders ahead of drawdown requests per the lenders requirements.
- Monitor Collateral Manager reports and ensure alignment with internal reports
- Working capital management ensuring optimal balances are maintained in the bank accounts and creditors are paid on time.
- Maximise technology leverage to create value through automation of processes and procedures including the weekly cashflow
Regulatory Compliance
- Registration of offshore loan facilities with the Reserve Bank of Zimbabwe (‘‘RBZ’’).
- Form CD1 acquittals within set deadlines.
- Secure RBZ approval for offshore service payments
- Acquittal of advance offshore payments within set deadlines.
- Securing RBZ and Tobacco Industry and Marketing Board authority for local green and packed tobacco sales.
- Green leaf purchases loan draw down reports within RBZ deadlines.
- Ensuring that statutory levies and taxes including ZIMTRADE levy and IMTT are deducted by banks and validating the amounts paid.
- Securing the RBZ approval for seasonal debt set off.
- Ensuring value additions compulsory liquidations and greenleaf drawdown liquidations are complied with.
- Ensuring that there are no losses to the company by close monitoring of cash and bank balances and noncompliance with regulations.
Financial Planning and Reporting
- Budgeting funding requirements, interest and finance costs, IMTT and full year cashflow.
- Monthly validation of interest and finance charges and IMTT accruals.
- Analytical review of bank balances, borrowings and interest and bank charges.
- Board and Shareholder reports.
- Assemble information for internal and external auditors per set timelines.
Policies and Procedures
- Develop, communicate, and enforce policies and procedures to complete required financial processes and prepare records necessary to safeguard assets and provide reliable financial information.
- Compliance with policies and procedures including the Financial Authority Policy.
- Monitor financial, operational and regulatory risks and provide solutions to address relevant risks.
- Ensure a sound system of internal assurances and controls.
Qualifications & Experience
- Accounting Degree
- Professional qualification such as CIMA, CA
- 2- 4 years in a similar role or related environment.
- Must have sound knowledge of finance and accounting.
For consideration, please send your CV in Word format. Also, provide your current salary and benefits details!
Email CVs to Mirriam Dzapasi: mirriam@valcol.co.zw and Colin Roberts: colin@valcol.co.zw