REPORTS TO:
Chief Accountant
BASIC FUNCTION
The Treasury Officer is in charge of all the institution’s assets and liabilities, liquidity and investments of the company. S/he is to ascertain the availability of cash at all times in order to meet the cash requirements of the institution’s clients and to monitor investments and optimize returns on Investments.
His/Her role is to plan, manage the liquidity, assets and liabilities of FINCA and to monitor the investments of the institution in order to optimize returns on investments in line with the Treasury Policies and procedures Manual (TPPM).
.Major Areas of Responsibility:
I. plan and manage the institution’s liquidity
- Treasury Management
- Prepare and prescribe tools to define the treasury processes
- Prepare policies and procedures manual for treasury functions
- Define treasury benchmarks to measure performance
- Define tools to monitor treasury operations and implement them.
- Develop transfer pricing and costing tools
- Supervise treasury operations in order to produce maximum and efficient financial results
- Prepare and keep records of all cash transaction between branches and Head Office
Cash/Liquidity Management
Liaise with the regional managers/branch managers to forecast liquidity projections in line with the operations disbursement schedule.
- Set proper cash limits for the HO and various branches so that lowest possible cash is kept with them and set procedures when the cash goes below/up limits.
- Set up proper Inter Bank Transfer procedures and limits.
- Set authentication and authorization procedures for Cash and Bank transactions
- Monitor the Bank Reconciliation on a monthly basis and guide the accounting team.
- Ascertain smooth running of treasury operations at H/O and Branches and take necessary actions
- Prepare Projected Cash Flows and compare with Actual Cash Flows and do a Variance Analysis and advise Management of the necessary actions to be taken.
- Alert the management of any serious situations of Cash and Bank balances (low or high) in order to take decision on the targeted disbursements, recurrent /capital expenditures or investments
- Applicable to Zambia: Prepare operating expense payment orders and checks.
- Applicable to Zambia: Registers cash transfer transactions into the SIEM.
- Donor funds management
Evaluate existing funds from donors and prepare projections for the fund requirements.
- Determine and advise management on the appropriate time to request for funds from Donors.
- Prepare the Projected Fund Flow and compare with the Actual Fund Flow, prepare Variance Analysis, reasons for variances and take necessary steps for the future
- Monitor and evaluate the funds in HO and Branches to enable management to take informed decisions.
- Analyze the currency fluctuations and the possible effect of donor fund availability and advise management of necessary decisions
handle funding requirements of the institution
- Advise management on funds decisions like obtaining loans from financial institutions and donor agencies in line with the institution’s strategic plan.
- Assist in determining the appropriate time to request for funds from financial institutions and donors.
- Analyze currency fluctuations and their possible effects to funding and advise management on necessary decisions
II. Manage investments and optimize return on investments
- Investments management
- Manage FINCA’s investments (including Fixed Deposits) efficiently to get the maximum returns with minimum risk.
- Closely monitor the due dates for interest, closure, renewal and maturities of investments so that FINCA does not suffer financial loss due to failure in renewal, closure or interest not credited by the institutions.
- Advise management of the best investments that would give maximum returns
- Follow the money market closely to advise the management on the Cost of funds, changes in interest rates, changes in Government policies that can affect FINCA
- Coordinate and monitor FINCA investments including money market activities and regularly advise management on investment opportunities and their expectations.
Savings product management
Participate in the Asset Liability Management committee meeting to set interest rates on savings products.
- Monitor impact of large savings depositors on the liquidity reserves and the branches liquidity.
- Meet all withdrawal requirements for savings depositors.
III. Devise strategies to avoid/combat risks and ensure compliance with regulatory requirements specific to Treasury
Risk Management
Risk Management is the crucial part of Treasury Management, which protects FINCA from landing into serious financial crisis. The TO should devise strategy to avoid risks, to combat risk and implement processes to meet any financial crisis.
- Evaluate the currency fluctuations, financial market conditions, interest rate fluctuations, investment decisions and advise management of the potential risk involved
- Investigate cash malpractices or non-adherence to policies and take corrective measures in accordance with FINCA’s procedures.
Statutory Compliance (for regulated institutions)
Prepare Treasury Operations procedures in line with the statutory and legal requirements of the regulatory institution (e.g. Bank of Uganda, etc.)
- Daily monitor FINCA’s Cash and Bank Accounts and investments to ascertain compliance with regulatory institution’s requirements at all times.
- Write and provide timely and accurate reports to the regulatory institution and other statutory authorities.
Transfer Pricing Management
- Develop a transfer pricing system.
- Set up and implement transfer pricing system in FINCA institution.
Personnel Specifications:
Education: University degree preferably in commerce and accounting (B.Com), business administration (B.BA) or banking.
Post Graduate in Banking is an advantage
Language: Fluency in English
Experience: Minimum 3 years experience in treasury operations
Experience in the banking sector highly desirable
Functional skills:
Strong command of MS Excel
- Treasury management
- Financial analysis, ability to identify trends, and develop statistical analysis.
- Numerical skills in budgeting
- In-depth understanding of treasury concepts and operations (investments, fund management, liquidity, economic indicators)
- Risk management – good understanding of risks: identification, prevention, management.
- Financial Planning
- Financial Reporting skills
Managerial/professional skills:
Planning and organising skills
- Analytical skills – ability to identify trends
- Attention to details
- Decision making skills
- Adherence / compliance to procedures and policies
- Communication – oral and report writing
- Good interpersonal skills
