Senior Associate - Treasury

Job description

• 1.
• Assist the Senior Manager – Finance & Treasury in working capital finance management specifically related to raw and refined sugar imports.
• 2.
• Verify and review all sugar/molasses imports related invoices including Freight (charter party).
• Ensure they match the procurement contracts and freight charter-party.
• 3.
• Coordinate with the banks on:
• timely payments related to raw sugar suppliers including Freight, Port and Shipping invoices as per the contractual requirements.
• preparation of the necessary documents for loan against trust receipt (LATR), short-term loans (STL), Murabaha Wakala, DMCC Murabaha, Avalization, Macquarie Bank’s Purchase/Sale Contract and Collateral Management Agency (CMA) documents, as required.
• releasing of sugar/molasses shipping documents received under the import collection bill (CAD) and/or under letter of credit (LC) and/or on any other mode on payment.
• Updates on documentation requirements for the raw sugar/molasses purchasing processes.
• 4.
• Handle the necessary entries in SAP for payments and maintain the record for bank borrowings.
• 5.
• Process raw and/or white sugar refinancing and/or repo transaction and/or swap documents to ensure availability of working capital to meet the company's financial requirements.
• 6.
• Ensure raw/refined sugar receipts/payments transactions are recorded accurately and on a timely basis.
• 7.
• Ensure the Raw/Refined Sugar/Molasses (Good Received Notes - GRN) entered timely and accurately into SAP.
• Verify the books have been updated appropriately.
• 8.
• Handle the posting (MIRO entry) of raw, refined sugar and molasses invoices in SAP to reconcile the vendors’ account of raw/white sugar and molasses suppliers.
• 9.
• Reconcile the Freight Clearing account and Procurement cost entries to ensure accuracy of Sugar purchase cost recording.
• 10.
• Monitor sugar stocks including stocks under CMA.
• Supervise updating the CMA sugar stocks at the appropriate banks.
• Prepare and follow up release order request to our bankers for release of sugar under CMA.
• 11.
• Arrange bank guarantees, standby letter of credits (LC) and/or bid/ performance bonds with banks to hedge sugar and participate in sugar supply tenders as appropriate.
• 12.
• Provide the necessary information and financial reports to banks and Hedging Brokers when applying for or renewing credit facilities.
• 13.
• Post & Reconcile monthly interest provision entries on bank borrowings and Related Pary Loans with the appropriate entities.
• 14.
• Prepare schedules for the annual, external audit and financial statements.
• Liaise with the external auditors for the timely completion of the statutory audit in their respective area.
• 15.
• Verify and sign payment instruments (cheques & TTs) on a timely basis as per company’s authorized mandate.
• 16.
• Act as the Finance delivery lead for AI initiatives (data automation & reporting) with IT and other departments.
• Profile description:

Qualification & Experience

Skills

·         Reporting & Analytics

·         Tools & Systems Literacy

·         Freight Chartered Party Knowledge