Treasury Accountant
Socar Overseas Ltd
Total years of experience :12 years, 4 Months
Responsibilities:
• Maintain and report on daily cash management and positioning for all company entities/bank accounts
• Closely monitors cash balances and ensures efficient cash management on cash forecast and cash flow reports
• Oversees cash functions, including daily cash positioning, cash reporting and forecasting, cash pooling, intercompany loans, wire payments, bank facilities, bank account setup and daily reconciliation of bank transactions
• Prepare and execute the Treasury operations such as payments, receipts, loans, deposits placement ensuring company procedures and controls are followed.
• Authenticate payment requests in compliance with Company policies and procedures.
• Provide effective and efficient cash office service, reconciling cash balances in accordance with Company policies and procedures through spreadsheet and on the system (Netsuite)
• Process application on banks for the issuance of Import or Export Letters of Credit for Company’s deals for crude and oil products and ensuring that the cargoes are financed depending on the requirement
• Reviewing LC draft and preparing LOI and other needed documents for the settlement of payments and receivables
• Advise and process endorsement and dispatch of documents to banks
• Support the development, and day-to-day management of business relations with banks in connection with trade finance services such as payments, L/C advising /negotiation /confirmation, and other trade services
• Carry out the necessary back-office operations and recording covering Treasury activities to ensure that a clear audit trail is maintained and to ensure that external and internal transactions are matched.
• Carry out daily reconciliation of the cash books with the Bank Statements and Ledgers in accordance with Company policies and procedures.
• Establishes and maintains positive, ongoing relationships with banking partners and ensures efficient and cost-effective banking operations
• Manage and monitor processes for corporate credit cards and opening of bank account, bank account access/authorization.
• Advise management on the liquidity aspects of its short and long-range strategic planning
• Prepare monthly and annual cash flow forecasts and manage short term and long-term cash management strategy
Responsibilities:
• Develop and implement processes related to document control and management.
• Checking quality of documents and Monitoring processes.
• Prepare Manufacturer Data Book or Vendor’s Data Book
• Coordinate all activities related to the Document Control procedure, including technical documents, drawings, and commercial correspondence.
• Input document data into ERP ensuring that the information is accurate and up to date.
• Generate the various document control reports as required.
• Typing, editing documents, and follow up of all the pending document needs
• Makes sure that controlled copies of latest approved documents and drawings are given to the appropriate staff, subcontractors and suppliers as applicable
• Maintain updated records of all approved documents and drawings and their distribution clearly
• Maintain the documents and drawings in the Document Control office under safe custody without any damage or deterioration with easy traceability.
• Maintain the files and control logs as required by the project.
• Implemented new procedures for banking operation to achieve efficient cash concentration and reporting which significantly reduced monthly fees and improved weekly cash availability
• Developed, implemented, and provided routine evaluation for the company’s cash management system
• Handled daily cash management, and prepared treasury reports or month-end and quarter-end fiscal reports by summarizing financial transactions
• Carrying out various duties like reviewing bank statements, performing wire transfers, and other banking operations including: netting and intercompany transfers as well as company’s long-term borrowing strategies and recommend methods of improvement
• Adheres to Global & Local Treasury & Authorization policies & procedures while ensuring SOX compliance
• Implemented plans of action for company investments based on analyses of financial markets and the current economy
• Monitored and validate concur expenses; petty cash or advances
• Act as the primary contact from banks and bank treasury for FX trades, placements, hedging (Spot, Forward, swap points, etc.) for Import or international transactions
• Handle Deposit Pick Up for Nationwide Branches and collection facilities
• Handles end to end process on new bank set up and bank facility set ups/ implementation
• Assess internal protocol for handling treasury, and if necessary, develop new standards to improve security of treasury.
• Handled daily cash management, and prepared treasury reports - daily, weekly, monthly & yearly
• Carrying out various duties like reviewing bank statements, performing wire transfers, and other banking operations including: netting and intercompany transfers as well as company’s long-term borrowing strategies and recommend methods of improvement
• Act as the primary contact from banks
• Perform bank treasury for FX trades, placements, hedging (Spot, Forward, swap points, etc.) for Import or international transactions
• Performed Letter of Credits, Trust Receipts, Bank Guarantees, SBLC, Short Term/Long Term Bank Loan & Settlements
• Handles end to end process on new bank set up and bank facility set ups/ implementation
• Assess internal protocol for handling treasury, and if necessary, develop new standards to improve security of treasury.
Responsibilities:
• Summarized receivables on weekly and monthly basis
• Issue receipts and enter customer payments into system on a daily basis
• Track all money received and reconcile against bank statement
• Analyzed accounts to discover discrepancies and resolved all variances promptly
• Initiate collection proceedings against accounts that are past due for more than six months
• Work with customers to develop repayment plans for delinquent accounts
• Develop reports to detail aging and past due accounts for management
• Processed payroll for over 200 employees on bi-monthly basis
• Work directly with HR to keep records updated
• Maintained employee banking information accuracy and confidentiality
• Prepare detailed reports for management
• Research employment tax laws to ensure company maintained compliance
• Suggest procedural changes to improve workflow and efficiency on payroll process
Responsibilities:
• Assisted management in developing effective accounts payable system to bring delinquent accounts current
• Develop tracking reports to keep management informed of due and past due vendor invoices
• Rectified escalated accounts payable issues from employees and vendors
• Efficiently process vendor invoices and maintain up to date system
• Coordinate approval process of all accounts payable invoices
• Research and resolve all payments problems
• Coded the general ledger and processed vendor invoice payments
Dean's List Academic Awardee
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