Treasury Manager (Contract)
AuraGroup
Total years of experience :16 years, 3 Months
Job Responsibilities 1
• Oversees financial planning and forecasting and assists in managing the investment and lending to subsidiaries and cash pooling arrangement.
• Assists in arranging the equity and debt financing and hedging and cross border arrangements.
• Maintains productive relationship with the banks.
• Monitors financial charges & implements procedures.
• Assists in the preparation of presentation materials to be shared with Senior Management
• Assists in the integration of treasury systems and associated projects.
Job Responsibilities 2
• Assists in Cash Forecasting process to project and fund liquidity needs and creating cash pooling arrangements and related agreements.
• Oversees forecast cash flow positions, related borrowing needs, and funds available for investment.
• Ensures that sufficient funds are available to meet ongoing operational and capital investment requirements.
• Mitigates financial risks related to the interest rates on the company's borrowings, as well as on its foreign exchange positions.
• Maintains and manages relationships with financial service providers.
• Ensures contractual terms are met and covenants do not constrain the business.
• Arranges the equity and debt financing and cash pooling arrangement and cross border transactions.
Treasury & Cash Management
• Daily Cash Report (various currencies) to CFO & Treasury Head
• Global Cash Management of Woqod and its 4 Subsidiaries
• Forecasting cash flow positions, related borrowing needs, and funds available for investment
• Forecast cash flow positions for 36 months, 13 weeks, Quarterly and Weekly.
• Managing adequate liquidity across the Group to operate effectively;
• Manage all cash management functions including cash concentration, wires, and account funding.
• Manage working capital needs and budget requirements;
• Manage Budgeting, Forecasting & financial planning and reporting of Variances.
• Manage Investments and Cash.
• Responsible for the company's funding strategies.
• Forecast Interest Income & Expenses for the group worldwide.
Bank relationships
• Manage relationship & negotiation with banks.
• Opening and Closing of bank Account across all locations (US, Canada, Europe, Asia) and act as first point of contact. Currently Managing 315 bank accounts.
• Implementation of HOST -TO-HOST (H2H), Cash Pooling with MT940.
• Ensure full compliance with the Credit Agreement and regulatory authorities.
• Managing Signatories and Various indemnities (Fax or Email) with banks
• Negotiate loan or overdraft terms and conditions.
• Manage investments through various channels and negotiate on interest rates with banks.
• Execute the BUs financing operations according to companies Financial Policies- bank credit lines, intercompany loans, capital injection, excess cash management, other schemes such as factoring.
• Funding raising negotiation, implementation of new debt facilities.
• Trade Finance: SBLC, L/C (UCP 600), BANK GURANTEE, Bill Discounting
• Ensure all internal control and documentation requirements are maintained.
Reporting
• Prepare and submit Daily Cash Dashboard and monthly reporting
• Supervise Month end Closing along with the Reconciliation.
• Drive revenue and cost management, including activity-based costing, customer profitability analysis, investment and project profitability analysis
• Consolidate and present monthly analysis on costs and revenue.
• Provide data supporting financial planning, forecasting and monitoring of results versus objectives
• Ensure regular reporting to the Company/Region/CBU on all F&T matters
• Fixed Deposit & Debt Report.
• Review and report monthly bank fee analysis to incorporate in the annual banking report with comments on variances
Debt Management, Risk Management & Others (Compliance)
• Master Data Supplier/Employee/Customer bank details (specifically on validation in ERP)
• Managing the group debt arrangements, monitoring compliance to debt covenants
• Maintaining a system of policies and procedures that impose an adequate level of control over treasury activities
• Manage Trade Finance activities.
• Monitor and control corporate exposure to financial and operational risks.
• Actively Involved in the process of Implementation of Oracle -R12
• Working capital monitoring (AP & AR Radars) to optimize cash flow cycle
• Assist management in the formulation of its overall strategic direction
• Manage region / country wise account mandates including E-banking.
• Intercompany Reconciliation, Lead and develop Treasury team.
Financial Management
• Reporting to Group CFO & CEO.
• Finance & Treasury policies and procedures
• Manage Monthly Financial Flash Reports and Financials as per IFRS.
• Financial Planning and Working Capital Management
• Inter-Company Reconciliation.
• Budgeting and Forecasting.
• Internal Control & Compliance
• Managing Accounts Payable & Account Receivables
• Analyze costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans.
• Monitor the day-to-day financial operations within the company, such as payroll, invoicing and other transactions.
• Inventory recording and monitoring of received and issued items.
• General Ledger entries including Fixed Assets depreciation and disposal, Fixed Assets reconciliation, pre-payments, accruals, inter-company transactions, and related parties, bank reconciliations, provisions and write-off
TREASURY MANAGEMENT
• Forecast & Report worldwide interest expense and income.
• Assess, manage and mitigate foreign currency exposure
• Manage region / country wise account mandates including E-banking.
• Funding Strategy-ECB`s, Bonds, Term Loans, Drive the structuring, negotiation, implementation of new debt facilities across the Group together with Group Legal and other relevant areas.
• Trade Finance: SBLC, L/C (UCP 600), BANK GURANTEE, NCD, Bill Discounting.
• Responsible for reviewing and monitoring the intra-regional and inter-regional (ETC) inter-company funding / loans. Compliance of Covenants.
• Risk Management: Financial Risk & operational Risk. Hedging transaction to reduce financial risk.
• Manage Investments in FD, MF, structured instruments, Review and recommend changes to the investment policies based on the market conditions;
• Assess, manage and mitigate foreign currency exposure;
CASH MANAGEMENT
• Managing daily worldwide cash position and Intra-company funding to ensure adequate liquidity for companies to operate effectively;
• Daily Cash Report (various currencies) to CFO
• Manage all cash management functions including cash concentration, wires, and account funding
• Implementation of Cash Pooling with MT940.
• Forecast cash flow positions for 36 months, 13 weeks, Quarterly and Weekly.
• Manage working capital needs and budget requirements;
• Manage 476+ bank accounts. Ensure that sufficient funds are available to meet ongoing operational requirement.
• Oversee the treasury and cashier activities to ensure the availability of required foreign exchange and local currency;
BANKING RELATIONSHIP MANAGEMENT
• Opening and Closing of bank Account across all locations (US, Canada, Europe, Asia) and act as first point of contact. Currently Managing 476 bank accounts.
• Ensure full compliance with the Credit Agreement and regulatory authorities.
• Negotiate loan or overdraft terms with company bankers,
COMPLIANCE/ GOVERNANCE/ TAXATION
• Maintain a system of policies and procedures that impose an adequate level of control over treasury activities.
• Ensure treasury activities are compliance with treasury policies, accounting guidelines, governance policies and internal controls.
• Managing Taxation of countries like: US, UK, Canada, India, Singapore, Malaysia, Italy, Kenya, Eritrea, Luxembourg.
• Taxation Include: VAT, Corporate Income Tax, WHT, GST, Social Security Contributions, Customs duty and filling of returns
• Keeping a complete record of Taxes with their due dates
• Country-wise Statutory Compliance management
BUDGETING
• Manage the preparation of the company's budget.
• Report to management on variances from the established budget, and the reasons for those variances
• Assist management in the formulation of its overall strategic direction
Cash Management & Forecasting:
• Reporting to the VP Finance & Treasury and dotted to CFO.
• Manage daily cash, Prepare daily cash report, Weekly Cash Report
• Liquidity forecast & Management,
• Weekly Receivables Report for Management.
• Monthly Management Report & Treasury Reports
• Cash Flow Forecasting up to 3 years and rolling (monthly and Weekly) for 38+ Legal entities.
• Reporting Variances comparing actuals with Budgets.
• Manage Budgeting, Funding and Financing Strategy.
Foreign Exchange & Banking:
• Bank Account Infrastructure: Multi-Country Banking Exposure (US Europe and Asia) Bank Account Management-managing 144 bank accounts, Maintenance of Bank mandates & Banking Relationship. Opening and Closing Bank Accounts and preparing full sets of documentations.
• Fund Raising activity with various financial institution along with loan documentation and monitoring loan covenants,
• Serve as a Signatory in 180 bank account & manage relationships with the banks globally.
• Maintaining bank mandates.
• Management of Revolver Credit and Preparation and review of credit line submissions to various banks. Analyze alternative long-term borrowing strategies and make recommendations.
• Implemented Electronic Banking Platform and Automated Payment System, MT 940.
• Manage Financial risk (FX & Interest Rates), Equities & Commodities.
• Understanding of Capital markets and Derivatives. Plain vanilla and exotic Swaps (Profit rate, credit, total return, equity or any other financial asset).
• Competent in reading, understanding, drafting and verifying Counterparty Term Sheets for Options, Swaps & Futures trades.
• Cash Pooling - Completed & implemented Cash Pool structure for optimal use of Cash. Intercompany: Optimization of cash allocation between business units.
• Finance & Treasury policies, procedure and Internal Control System
Debt Management:
• Debt Capital Market and Debt portfolio management (L/C, Trust Receipts, Bank Guarantees, Term Loans, Bill Discounting, Factoring)
• Manage debt compliance through testing affirmative, negative, and notice covenants.
• Report key debt ratios and basket usage; assess pro forma impacts of business decisions on an ad hoc basis
• Serve as an expert on debt impacts related to various business decisions.
• Prepare 8-K equivalent notices as required under the debt agreements via partnering with legal and leadership
• Maintain relationships with ratings agencies;
• Respond to investor and debt holder inquiries; maintain relationships
• Prepare investor and debt holder presentation materials for senior leaders.
Sub Heading:
• Payment of Taxes in Tax countries. Management of Accounts Receivables and Accounts Payables (Forecasting). Managing regulatory-tax, legal and other cash concentration issues in consultation with Group Tax Department.
• Managing Commercial Card program.
• Preparing and posting of standard and non-standard journals. Monthly reconciliations including inter-companies’
• Monthly Financial analysis of respective Cost Center expenses, AP & profit & loss accounts.
• Preparation of Budgets- works closely with Departments/Business Units leads to develop Budgets and Forecasts and identify business risks and Analysis
• Managing Insurance.
Accounting
• Providing accounting support for the Global Treasury team.
• Managing a team of 6 employees for overseeing the activities relating to finance and accounting
• Preparation of Group annual budgets and periodic forecasts, investigate variances against budgets.
• Weekly flash reporting and annual financial statements and management reports.
• Bank Reconciliations. Monitor bank agreements and fee structure with banks.
• Review, analyze and evaluate financial and operational data
• Generating monthly cost centre reports
Cash Management and Forecasting
• Managing Facilities of value USD 150 million segregated in different loan products with 5 Bank & Managing Short Term Loans from 12 Banks.
• Review and manage the daily, weekly and monthly global cash flow forecast.
• Analyze, assess and ensure adequate liquidity for working capital needs.
• Manage inter-Group cash, including inter-Group lending, dividends, and capital injections. Decide on all the Funds Movement of the Group for all regions.
• Accounts Payables & Receivables Management, SOX ACT 404A & 404B. Implement cash pooling, ensuring Group cash and working capital is managed efficiently.
Analysis & valuations
• Variance Analysis and Investigations
• Perform valuations of companies (including those publicly listed and closely held) using Discounted Cash Flow (DCF) analysis, traded and transaction comparable analysis, NAV and other relevant methodologies.
• Providing financial analysis
• Sensitivity analyses for different investment scenarios using internal rate of return (IRR), Net Present Value (NPV), Gross Margin (GM), Payback Period
• Manage middle office function related to Global Treasury’s FX and interest rate activities.
• Managing company`s loan portfolio.Maintenance of Interest schedule.
• Factoring, PDC Discounting, Invoice Discounting, Letter Of Credit -Import /Export, Guarantee & Overdraft. Trust receipts--TR, Availization facility management.
Job Responsibilities:
FINANCE FUNCTION:
• Managing a team of 6 employees for overseeing the activities relating to finance and accounting
• Preparation of budgets/forecasts.
• Preparing Management Report such as -financial statements (P&L, Balance Sheet, & Cash Flow Statement) by incorporating suitable international accounting standards(IAS & USGAAP)
• Accounts Payables & Receivables Management
• Supervising Reconciliations of AP & AR;
• Overseeing the bill and invoice management activities of the organization.
• Responsible for the maintenance of proper accounts relating to fixed assets, depreciation, insurance and loans.
TREASURY FUNCTION:
• Track the usage of credit lines and keep track of settlement due dates
• Interest rates-verify the interest rates charged by the banks on the facilities.
• Liaising with the banks and financial institutions for the purpose of arranging for letter of credit and bank guarantees & Issuing of Wire Transfers & managing all day to day banking activities; arranging for audit and insurance required for the same.
• Opening of import & export Letter of Credit (L/C), guarantees & process amendments.
• Preparing statements relating to Cash Flows & Bank Reconciliations.
Pursuing Data Science Program from IIM Indore. Have gone through - Python, MySQL, Py Spark, Machine Learning, Hadoop, Tableau
Management Account and Reporting, IFRS
MBA -Finance