Senior Officer - Cash Management

Job description / Role

Support the Senior Associate - Cash Management in ensuring the effective handling of all cash receipts and payments, in order to promptly realize the revenue stream and apply the funds generated to the company’s financial commitments in accordance with approved corporate strategies, treasury policies and procedures

Effective Cash management by using and developing cash handling processes and controlling the use of bank accounts employing electronic means wherever practical.

The job holder is responsible for ensuring controls over bank accounts, payments processes and payments systems are rigorously applied and maintained, identifying potential control weaknesses, designing proposed solutions, recommending and implementing them, working with system specialists as required

The job holder is responsible for day to day management and monitoring of all transfers of funds(cheques/letters/electronic) to suppliers, settlement of treasury deals (FX, hedge settlements, deposits, debt servicing) employee payments and transfers with group entities bank accounts accurately and on timely basis in strict compliance with the company policies and levels of authority.

• The job holder is responsible for ensuring all treasury flows are received and paid on good value dates.
• The job holder is responsible for analysing and monitoring bank service levels and minimising processing cost charged by the banks.
• The jobholder prepares a “Deal request” by analysing the company’s foreign currency requirements (normal operations, major capital projects and expansions)
• The job holder monitors all bank accounts, daily balances and deposits balance, control automated sweeps and minimise idle balances, and overall monitoring of all petty cash transactions including Dubal Water sales collection managed by petty cashier
• The job holder is responsible for maintaining zero or low overdraft balance in the accounts to reduce the overall interest cost
• Prepare short term cash forecast , maintain and update daily cash flows in different currencies and accounts
• The job holder has responsibility to effectively maintain good relationship with banks relationship managers and communicate with them as and when required
• Managing Corporate Credit Cards and Purchasing Cards (P-card) and E dirham card
• The major challenges for the position are cash flow planning, processing the payments before cut off time and settlement of FX/Money market transactions on time
• Manage direct non-supervisory staff viz. Petty cash officer etc
• Managing the daily liquidity and cash position report
• Relevant GL and accounting responsibility
• Any other task and ad hoc exercise the management may require time to time.

Requirements

• Bachelor in Finance/Accounting/Business from a recognised university and a recognised Treasury or Accounting qualification (e.g. International Cash Manager (ACT-ICM),CMA..etc)
• At least 3-6 years practical experience of working in the cash management function of a large, international organisation

Skills:
• Cash forecasting and liquidity management
• Using SAP ERP, BCM and Treasury Management system, Sungard
• Using banking systems for payments, balance reporting, account reconciliation and receipts processing

About the Company

Emirates Global Aluminium (EGA) is owned equally by Mubadala Development Company of Abu Dhabi and Investment Corporation of Dubai. EGA is an aluminium conglomerate with interests in bauxite/alumina and primary aluminium smelting; with plans for significant local growth and international expansion.

EGA’s core operating assets are Dubai Aluminium (DUBAL) and Emirates Aluminium (EMAL) – whose combined production is 2.4 million tonnes per annum (“tpa”), ranking EGA among the five largest primary aluminium producers in the world. Both companies are renowned for maximising the health and safety of people and the surrounding community, reducing operational environmental impact and investing in social and economic development.