We are currently seeking an experienced finance professional to join our Finance Shared Service Center team in the capacity of Senior Manager - Treasury Back office.
Overview of the role
The Senior Manager - Treasury Back Office will establish internal capabilities and run a team in charge of managing all treasury back office activities within the Al Futtaim Group entities in Egypt, on behalf of the Al Futtaim Group entities, on a division agnostic.
In conjunction with the other functions within the Global Treasury Center, the Senior Manager - Treasury Back Office will assume overall responsibility for activities including:
- Treasury Master data
- Bank administration
- Loan administration
- Bank reconciliation and Clearing
- Treasury Back Office
- Accounting and documentation
- Controls, Automation and Reporting
What you will do
Manage Treasury Master Data activity
- Changes (create/modify/deactivate) to financial counterparties, currencies, holidays, interest reference rates and forward to EIT for execution
- Security administratration fof online banking platforms
- Liaising with EIT to ensure treasury master data synchronisation between SAP TRM, ERP instances and other relevant systems
- Reconciliation of master data in SAP TRM and other related systems
- Proposing changes to user profiles to reflect process changes and to ensure segregation of duties are upheld and DoA rules are maintained
- Maintaining the SAP TRM roles and user access file and liaising with EIT for replication of approved changes in SAP TRM and other relevant systems/modules
- Reviewing SAP TRM market data import error or automated alerts and take relevant corrective actions where applicable
Manage Bank administration activity
- Receiving bank account opening requests
- Validating relevant authorisations, business case and supporting documentation
- Approving bank account opening request through SAP TRM BAM workflow
- Forwarding bank account details to EIT for further steps (GL account set-up, bank connectivity – bank statement, payments)
- Maintaining Bank Account signatories in TRM
- Facilitating bank account closing (ensure zero balance, documentation requirements and inform EIT to freeze/block GL)
- Collection and preparation and submission of documentation regarding bank account opening, closing and KYC requirements
- Coordinating with Banks, Group Legal and Group Tax for finalisation and submission of documentation in relation to regulatory compliance- Sanctions, etc.
- Year end balance confirmation process in relation to bank accounts
Manage Loan administration activity
- Preparation of documentation for loan/funding drawdown
- Preparation of documentation for the rollover of loans - based on approvals as per DoA
- Performing interest resets as per loan agreements
- Performing loan reconciliation between SAP TRM records and funding statements provided by financial institutions
- Execution of intercompany loan settlements
- Posting transactions into treasury system for intercompany finance transaction
- Posting journal entries for IC loan interest and IC loans/record transactions in treasury system (TMS)
- Reconciliation of intercompany finance transactions
- Performing balance confirmation for IC loans, initiate and complete IC loan documentation
- Execution of Treasury payments
Manage Bank reconciliation, clearing and Back Office:
- Tracking incoming MT940 bank statements for completeness
- Addressing any import errors in coordination with EIT and/or external banks
- Performing daily cash reconciliations (note: GL bank reconciliation to be the responsibility of FSSC-R2R Tower
- Executing settlement for treasury products ensuring relevant approvals as per DoA
- Receiving incoming deal confirmation from financial institutions and matching against SAP TRM deal capture
- Consulting with the relevant GTC dealer/trader/front office staff in the event of discrepancies
- Monitoring outstanding confirmations and escalate as per policy
Manage Accounting and documentation:
- Review of automated postings for treasury products to ensure they have been successfully executed
- Raising and posting manual journal entries for flows related to treasury products and treasury activities which were not automatically executed (e.g. products not configured in SAP TRM, fees, commissions not automatically posted) – manual posting would be subject to validation from R2R
- Maintaining hedge documentation
- Posting journal entries for hedge accounting
- Controls, Automation and Reporting
- Agreeing a list of Key Performance and Risk Indicators with Group Treasury Centre and periodic reporting in relation to the same.
- Leading/supporting initiatives to automate Treasury Back Office processes including Treasury payments through implementation of SAP TRM, SWIFT etc.
- Documenting and updating Treasury processes
- Supporting external audit and initernal audit activity in relation to Treasury processes
Associate Development and succession planning
- Ensure smooth transition from a division focus to a division agnostic environment for associates
- Continuous development of associates on specialised skills required.
