Treasury Section Head
Extra
Total years of experience :23 years, 5 Months
- Oversee all cash management functions including cash concentration, wires, Financing, cash flow forecasts and Ensure adequate liquidity for working capital needs
- Verify & sign trade & none trade supplier’s payments and insurance of sufficient funds to cover it
-Managing relationships with banks and other service providers
- Developing and implementing treasury policies and procedures
-Managing domestic and international payments
-Monitor payment process, bank reconciliations, risks and hedging strategies
-Supervise & verify the collection and cash-pick-up process in stores with required financial control
-coordinate with other finance areas, such as AR, AP and accounting
-Supervise Treasury officers & Reconcilers team and Cash officers in all stores / Regions
-Follow up with IT department the issues of integration & un-posted Sales & Receipts till it solved and Maintain reports to control Cash & sales
- Ensure compliance with internal controls, policies and procedures. Develop and monitor treasury operational policies. Manage compliance for Treasury operations.
- Supervised all accounting functions and procedures including A/P, A/R, and G/L accounts and posting sub-modules to GL
- Ensure proper booking of accounts are maintained in accordance with GAAP/ IFRS.
- Preparing monthly/quarterly/annually consolidated Financial Statements
-Reviewing the reports prepared by the Regional Accountants
-Controlling cash disbursements and monitoring cash collection.
-Development and documentation of processes and procedures for AR, collections
-Implement and control collection reports and Aging reports to ascertain status of collections and balances outstanding
-Coordinate & follow-up with both internal and external auditors
-Assist the Store department Heads with financial and other analytical figures which are useful to them for their day to day operations
-updating the insurance such as fidelity & cash on sales men as per their stock, Cash officers as per the cash they have in their Cash safe to insure adequate insurance coverage based on changes in business
- Supervise a Team of 45 accountants in stores & 7 senior accountants in Head Office while performing Receivable and Payable activities and ensure the staff is meeting company goals, complying with company standards, policies and generally performing the essential functions of their position.
-Preparing analysis reports to revenues and all other incomes for the company
-Prepare sales tax reports on all company wise to provide yearly reports to the sales tax authority.
- Daily checks cash on hand & petty Cash balances in all branches, Reconcile the Deposits of each day that done by Cash in Transit Company into our account in bank
-Replay on customers' queries about sales transactions being mistakenly deducted from their statement including emailing to banks for that
- Preventing the mishandling or loss of cash with implementing and maintaining internal financial controls and procedures
-posting entries from sub modules (AR&AP) to GL after verification, investigate the missing entries and make the necessary adjustments
- Tracking outstanding balances of Credit Cards in cooperation with bank reconciles in order to collect it
-review cash on hand balances & collections vs sales in all branches in daily basis and communicate the responsible accountant for any discrepancies
- Ensure accurate and appropriate recording of revenues and expenses on financial system that were created by store accountants through review the documents, collection reports
-Closing the clearing accounts & settling the POS collection accounts with actual collection including making proper adjustment entries on GL
- Verifies ledger entries of revenue and expenses, cash purchases and insure the attachment documents is validated & approved by the concern persons of each Department
- Verifies cash journals documents, deposits slips & cards slips with confirmed reports of POS & settlements of Credit Cards
-Monthly check vendors accounts balances of cash-trade vendors and make the appropriate adjustment entries, clearing the payments against the actual invoices
-Monthly prepares revenues, other income and expenditures reports in store wise by summary and details including matching with printed trail balance and GL accounts balance
-Performing a Physical count on Stores accountant’s cash in safe Monthly and matching with cash balances on system