Head of Group Treasury

Job Summary

To ensure all business units in the group has adequate liquidity in place, at the right time and on cost-effective terms.

  • Minimum Qualification: Degree
  • Experience Level: Executive level
  • Experience Length: 10 years

Job Description

Purpose/Role

  • 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 the effectiveness of cash flow planning and management
  • To ensure proper governance and group-wide adherence and compliance to Treasury Policies


Prime Responsibilities and Duties
Liquidity:

  • 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

Cash Flow:

  • 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 were overcharging 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)

Reporting:

  • Prepare weekly report and insights on latest bank status – publish monthly to JEC

Corporate Governance:

  • 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 counterparty risk - through regular assessment of credit risk profile of the companies or financial institutions.

Bank Relationship:

  • Build and maintain relevant senior /middle level banking relationship with the banks.

External Market:

  • Maintain up to date knowledge and insight on all liquidity matters including Lenders, national, regional and global market rates, finance and trade solutions etc.

Other:

  • 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.

Requirements
Technical Skills:

  • 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

Personal Skills:

  • 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

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