Manager - Cash Management

Overview of the role

As part of the Cash Management and Trade Finance (CMTF) vertical within the Global Treasury Center (GTC) based in Dubai, UAE, the Manager – Cash Management is responsible for overseeing Al Futtaim cash pooling arrangement and ensuring smooth daily treasury operations in UAE for the Group and on behalf of the Al Futtaim Group entities in the UAE.

What you will do

Cash Management

For Group entities and subsidiaries participating in the automated physical cash pooling arrangements:

• Manage and optimize the cash pooling arrangements in UAE.
• Ensure timely funding of the header account to prevent overnight overdrafts and maintain adequate liquidity levels by working closely with his/her direct reports, the Senior Manager – Cash Management, Treasury Back Office Tower (TBOT), as well as the Invoice-to-Pay (I2P), divisions and business units’ Financial planning and analysis (FP&A) teams.
• Determine Group cash levels in UAE and ensure a minimum cash buffer is maintain at the Group level.
• Decide on necessary actions to be taken based on the daily cash position, facility utilization and headroom.
• Provide inputs and recommendation to Senior Manager – Cash Management to mobilize cash to manage liquidity efficiently (minimize interest costs)
• Proactively identify potential risk and implement appropriate controls to mitigate them.
• Assist in negotiation of group and country cash pooling arrangements
• Regularly review the structure and pricing of cash management solutions.

For entities not participating in the automated physical cash pooling arrangement:

• Determining subsidiaries cash levels in UAE and ensure a minimum cash buffer is maintain at the Group and subsidiary level.
• Optimize cash concentration at header level whilst ensuring the divisions’ daily liquidity requirements are addressed.
• Ensure timely funding of the subsidiary account to prevent overnight overdrafts and maintain adequate liquidity levels by working closely with his/her direct reports, the Senior Manager – Cash Management, Treasury Back Office Tower (TBOT), as well as the Invoice-to-Pay (I2P), divisions and business units’ Financial planning and analysis (FP&A) teams.
• Ensure proper records are maintained in Treasury Management Systems (TMS) for all transaction, working closely with his/her team and Treasury Back Office Tower (TBOT)

Short term Cash Flow forecasts

• Report and analyse a short term 12-month rolling direct cash flow forecast on a bi-weekly basis in conjunction with divisions and business units’ Financial planning and analysis (FP&A) teams
• Prepare Group 12 months direct cash flow forecast report on a monthly basis.
•   Perform regular review sessions with Divisions and provide bi-weekly updates.
• Perform regular variance analysis reports and discuss deviations with the divisions
• Assess the funding requirements for the Group and its subsidiaries
• Consolidate and maintain cash flow forecasts in Anaplan.

In-House Bank

• Assist in the Management of In-House bank (IHB) funding strategy
• Decide in coordination with Senior Manager – cash management and Global Treasury Center - Financial Risk Management (GTC/FRM) whether short term cash requirements should be funded from internal or external sources
• Manage an in-house bank aimed at funding all short-term transactions on behalf of the Group companies from either pooled cash or utilizations of trade finance facilities provided by banks, optimizing net interest for Group and Group companies
• Ensure proper records are maintained in TRM for all transaction, working closely with Treasury Back Office Tower (TBOT)

Governance and Transformation

• Ensure compliance with Group treasury policies and SOPs
• Provide inputs to Global Treasury Center - Governance, Risk Control & Transformation (GTC/GRCT) team on all reporting aspects
• Coordinate with TBOT to run daily cash position reports
• Provide inputs into cash management strategy including IHB and treasury policies
• Support all Treasury transformation projects, including further roll-out of TMS, and automated cash pooling strategies across the Group entities

Others

• Support Trade Finance function as and when required
• Prepare Adhoc reports as and when required