- To provide appropriate liquidity management across the Jagal Group, manage existing facilities and identify necessary financial instruments to meet future financing needs
- To manage and lead on the external and internal treasury relationships
- Work closely with GCFO and Head of Financial Planning to ensure effectiveness of cash flow planning and management
- To ensure proper governance and group wide adherence and compliance to Treasury Policies
Key Aims and Objectives
- To ensure all business units in the group has adequate liquidity in place, at the right time and on cost effective terms.
Prime Responsibilities and Duties
- Financing activity for the group - Establishing and renewing adequate financing for the Jagal group.
- Renew and raising new debt
- Restructure all current facilities with moratorium where applicable.
- Support the GCFO with new funding strategy
- Participate in weekly cash flow reviews at HQ and business units to understand impact on facilities and the need for new financing
Cost of Funding:
- Complete forensic audit review of all bank charges and seek recovery where over charging has occurred
- Review all new financial documents, financial covenants prior to signing by the JEC and negotiate all pricing
- Review and monitor all bank charges, interest and fees across the business (in conjunction with the finance leads)
- Prepare weekly report and insights on latest bank status – publish monthly to JEC
- Issue and update Group Treasury Policy as required
- Drive compliance of the treasury policy in conjunction with the respective business unit finance leads.
- Review and update the value of the Security trust as required
- Bank account management -Opening new accounts and closing bank accounts with key relationship banks.
- Accessing counter party risk - through regular assessment of credit risk profile of the companies or financial institutions.
- Build and maintain relevant senior /middle level banking relationship with the banks.
- Maintain up to date knowledge and insight on all liquidity matters including Lenders, national, regional and global market rates, finance and trade solutions etc.
- Electronic banking – ensure all business adopt on-line systems
- Investing surplus cash – call deposit, short term deposit and treasury bills.
- Monitoring of facilities across the group, compliance with the terms of the facilities etc.
- Conduct sale and purchase of US$ - jointly with the business units.
- 10 years of banking experience and Head of Treasury in a commercial environment
- ACT – Association of Corporate Treasurers (desirable)
- Deep knowledge of CBN and other relevant regulations and guidelines
- Strong technical awareness, knowledge of cash management principles
- Proficient in reviewing and assessing cash flow plans and statements
- Understanding of FX transaction and translation implications
- High sense of integrity and comfortable working with executive management
- Strong interpersonal skills and excellent communicator (verbal and written)
- Strong business acumen with ability to take a strategic viewpoint but with high attention to detail
- Good leadership skills with ability to work under pressure
- Ability to ensure decisions are taken and followed up