Position: Manager - Cash Flow Planning & Management

Job Time: Full-Time

Job Type: Permanent

Place of Work: Addis Ababa, Addis Abeba - Ethiopia

Posted date: 7 hours ago

Deadline: October, 30/2024 (7 days left)

Role purpose

• Efficient management of cash, funding, and financial risk across group companies in line with approved policies. This includes secure investment of cash resources as well as providing or securing the financial resources required by Safaricom and its subsidiaries to meet their business objectives in a timely, cost-efficient and secure manner.

• Efficient management of all treasury operations including forex and cash management; ensuring the company has the best banking products and services for its operations; responsibility for all banking relationships; accurate cash flow forecast reporting.

• Ensure the dividend payment for the company is in line with the regulatory requirement and the integrity of the payment process is maintained by all parties involved in the process.

Key Accountabilities and Decision Ownership:

• Review budgeted cash flow forecasts monitor ongoing liquidity requirements across the organization and its companies, and propose any improvements

• Ensure timely update of cash actualization and cash flow forecast using the data from the banks and download into the Oracle application

• Perform the cash flow actual for comparison to forecast utilizing data on actual revenue cash receipts, revenue expenses, and capital expenditure captured accurately.

• Perform timely and accurate monitoring of all payments made to the bank via the electronic payment solution and ensure charges levied are as per contract terms with the solution provider

• Invest in a centralized cash pool daily/overnight in the money market in line with the group Treasury policy

• Explore techniques (Available options) and potential sources of funding to finance business plans, and enhance internal knowledge by educating staff in the organization

• Ensure capital structure is aligned with both business and financial strategy.

• Provide information requirements needed to maintain good investor relationships

• Analyze and interpret all financial risks and employ measures to mitigate them. With a specific focus on:

• Interest Rate Risk

• Foreign Exchange Risk

• Counterparty Risk (Bank risk assessments)

• Carry out an annual review of group Treasury policy (a) to ensure full alignment with Safaricom group policy and (b) to strengthen or reformulate the policy if necessary (based on operating feedback)

• Ensure divisional/departmental policies and procedures, systems, and controls are always updated and aligned with group treasury policy

• Ensure that all treasury transactions are timely and accurately recorded.

• Liaise with business units and FBPs on (a)major funding issues (b). EHOD and CFO on critical projects (c) Vodacom Group Treasury and (d) Relevant external stakeholders as required.

• Implement treasury policies that clearly define the Treasury operations namely for forex, cash management, banking procedures, and cash forecasting that conform with best practices within the Group

• Ensure and monitor the adherence to the laid down procedures for approval of the transactions, generation of payments, checking, and transfer of the electronic files are strictly adhered to, and report any breach of any part of the process to management. This should cover the application IT security policy requirements

• Preparation of cash forecast on an agreed periodic basis and approval by Financial Management

• Report variances and explain them between forecast and actual cash flow to measure the level of forecasting accuracy

• Offer governance and oversight of the dividend payment process on the share registrar together with the bank that has been contracted to offer the service

• Identify treasury issues within M&A and other projects, recommending commercially viable solutions

• Manage the performance of staff in the section, define performance indicators, assign tasks, and define goals and objectives for the staff to develop the skill base of the staff assigned, motivate, discipline, and recommend reward of staff.

Core competencies and knowledge:

• Knowledge of financial and regulatory environment and exchange control.

• Knowledge of company law- legal agreements, loans, bank facilities, share purchase agreements, etc.

• Ability to interpret accounting policies and financial statements

• Knowledge of investment portfolio strategy, banking, and financial instruments

• Knowledge of tax (Local and cross border)

• Knowledge of governance and compliance procedures.

• Understanding derivatives.

• Advanced analytical, organization, and interpersonal skills.

• Excellent collaboration, verbal, and written communication skills.

• Able to break down problems into meaningful parts and come to rational and well-thought-out conclusions.

• Demonstrated strong project management skills.

• Attention to detail and accuracy.

• Interested in process improvement.

• Willing to adapt quickly to quick changes in direction.

• Internally motivated to seek out answers, generate ideas, and develop new skills.

Job Requirement

Education & Experience:

• Qualified Accountant CPA /ACCA/CIMA/ACA and a member of a professional body with a finance or related Honors degree from a recognized university

• 5-8 years of accounting, finance, and treasury experience in a well-run company

• At least 3 years of supervisory-level extensive experience in preparing cash forecasts and cash flow analyses

• Experience in building and reviewing financial models to evaluate various financial plans.

Financial Responsibility

• Preparation of cash forecasts and monitoring of the actual receipts and expenditure against forecast through submission of timely reports to management

• Liaise with Treasury to manage the available funds in the business on a day-to-day basis to ensure optimal utilization and the lowest costs are incurred

• Develops and advises on funding strategies for the business

How to Apply

Apply using THIS LINK