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
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
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