Treasury Associate

3 weeks ago


Lagos, Nigeria Food Concepts Plc Full time

Job Purpose

  • To ensure timely report on daily cash position for utilization of funds. To monitor and coordinate the banking transactions/activities of the organisation.

Core Responsibilities and Key Result Areas

Managing Cash Assets

  • Prepare daily cash position report
  • Monitor and follow-up with investment placement including interest and roll-overs
  • Review imprest system
  • Review daily sales and daily lodgement verification
  • Vet payments   to suppliers and ensure invoices are in order for payment
  • Assist in listing vendors for payment
  • Ensure the cash position is updated to inform the management about firm liquidity and where cheques are written.

Treasury Advisory

  • Advise management on utilization of surplus funds
  • Assist to evaluate the fiscal decisions of their organization and recommending the best possible course of action.
  • Analyse the risks and rewards of various decisions on a regular basis
  • Ensure the management understands the risks of any given financial decision and is aware of alternative decisions they might be better off making instead.
  • Recommends fixed cash to yield interest for the company, in a case of availability of excess funds.

Bank Oversight

  • Monitor daily bank balances to payment instruments are not issued on unfunded account.
  • Manage bank POS terminals and deployment
  • Maintain relationship with bank officials
  • Ensure all treasury transactions are posted and reconciliation of GL and sub GL accounts
  • Confirm and verify bank charges
  • Review bank reconciliation report
  • Monitor and ensure payment processes are strictly adhered to
  • Assist in guiding the bank reconciliation process monthly
  • Confirmation of cheques

Key Performance Indicators

  • Provision of Daily cash report
  • Provision of Bank Reconciliation Report
  • Percentages of account balances reported daily
  • Percentages of cash transactions reconciled daily
  • Time taken to create month-end accounting journals for all treasury transactions
  •  Rate of compliance with internal controls especially on payments
  • Accuracy of forecasted investment income

Knowledge Requirements

  • Knowledge of Cash Management Principles
  • Knowledge of banking systems and processes
  • Knowledge of the Food/QSR Industry processes
  • Knowledge of the Microsoft Excel software

Job Specifications

  • A good first degree in Accounting or Finance
  • Possession of a Post graduate degree in Accounting/Business Administration or related field is an added advantage
  • Membership of the Certified Treasury ProfessionalCTP, ICAN, ACCA, CFA or any other related professional qualification is required, as well as courses on  Treasury and Fund Management
  • Minimum of  3 years in a core financial/treasury capacity

Decision Expectations

  • Recommend operational, strategic and financial decisions
  • Make recommendations to the management on best investment alternatives
  • Enforce agreed decisions
  • Assign work to subordinates
  • Monitor subordinates’ work performance
  • Appraise/evaluate subordinates’ performance


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