Treasury Associate Job Description of Treasury Associate Job Title: Treasury Associate Location: Head Office
Grade Level: Department: Finance Department
Reports to (Title): Treasury Manager
Direct Reports:Job Purpose To ensure timely report on daily cash position for utilization of funds. To monitor and coordinate the banking transactions/activities of the organisation.
Core Responsibilities and Key Result Areas Managing Cash Assets - Prepare daily cash position report
- Monitor and follow-up with investment placement including interest and roll-overs
- Review imprest system
- Review daily sales and daily lodgement verification
- Vet payments to suppliers and ensure invoices are in order for payment
- Assist in listing vendors for payment
- Ensure the cash position is updated to inform the management about firm liquidity and where cheques are written.
Treasury Advisory - Advise management on utilization of surplus funds
- Assist to evaluate the fiscal decisions of their organization and recommending the best possible course of action.
- Analyse the risks and rewards of various decisions on a regular basis
- Ensure the management understands the risks of any given financial decision and is aware of alternative decisions they might be better off making instead.
- Recommends fixed cash to yield interest for the company, in a case of availability of excess funds.
Bank Oversight - Monitor daily bank balances to payment instruments are not issued on unfunded account.
- Manage bank POS terminals and deployment
- Maintain relationship with bank officials
- Ensure all treasury transactions are posted and reconciliation of GL and sub GL accounts
- Confirm and verify bank charges
- Review bank reconciliation report
- Monitor and ensure payment processes are strictly adhered to
- Assist in guiding the bank reconciliation process monthly
- Confirmation of cheques
Key Performance Indicators - Provision of Daily cash report
- Provision of Bank Reconciliation Report
- Percentages of account balances reported daily
- Percentages of cash transactions reconciled daily
- Time taken to create month-end accounting journals for all treasury transactions
- Rate of compliance with internal controls especially on payments
- Accuracy of forecasted investment income
Knowledge Requirements - Knowledge of Cash Management Principles
- Knowledge of banking systems and processes
- Knowledge of the Food/QSR Industry processes
- Knowledge of the Microsoft Excel software
Job Specifications Educational Requirements Professional Requirements Experience Requirements - A good first degree in Accounting or Finance
-Possession of a Post graduate degree in Accounting/Business Administration or related field is an added advantage
Membership of the Certified Treasury Professional(CTP), ICAN, ACCA, CFA or any other related professional qualification is required, as well as courses on Treasury and Fund Management
Minimum of 3 years in a core financial/treasury capacity
Decision Expectations - Recommend operational, strategic and financial decisions
- Make recommendations to the management on best investment alternatives
- Enforce agreed decisions
- Assign work to subordinates
- Monitor subordinates' work performance
- Appraise/evaluate subordinates' performance
Working Conditions Jobholder typically work 40 hours per week, Monday to Friday, although some roles may involve weekend or evening work. This role is largely office-based, although at times the job may require travel to meetings held off-site, as the company has more than one office. It also involves maintaining relationship with banking institutions. The role can be quite demanding as jobholder bears the brunt of accounting for cash regularly.
Contacts and Purpose of Contact Internal Contacts (most frequent contacts) Purpose of Contact - Executive Management
- Senior Management
- Exchange or provide information
- Obtain, clarify, and discuss information
- Present, discuss information and problems
- Collaborate, negotiate and present ideas
- Deal with, influence or motivate subordinates
- Promote, justify or settle highly sensitive matters
External Contacts (most frequent contacts) - Service Providers/ Vendors
- Banking Institutions
- Auditors/Consultants
- Financial Advisers
Authorisation MD Name and Signature:
