JAGAL Group is recruiting for fulltime Head Of Group Treasury.
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.
MIN REQUIRED EXPERIENCE:
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