Job description / Role
The Treasury Officer is responsible for the cash operations and letters of credit. The cash operations include duties such as preparation of cash forecast reporting, initiating and monitoring the payments, clearing the payments in SAP, maintaining efficient banking cooperation and relations, etc. The other part of the job is to be responsible in executing the documentary process, management of the Stand-By LC and Documentary L/C on both sides (import and export), management of the bid and performance bonds, other types of guarantees, presentation of invoices linked to Documentary L/C via banking channel, etc. in accordance with LITASCO SA operations and GT&Cs.
• Monitoring of the Cash Flow Forecast D+5/D+10 days in ETRM, communication with the Cash Operations team in the Central Treasury on timely basis (discounting flows, amounts to be paid/received, etc.)
• Preparation and monitoring of daily payment orders according to the instructions provided by Finance Director
• Manually inputting relevant cash flows (invoices, transfers) forecasts in the SAP SEM Module and Excel Files
• Checking the execution by banks of transfer instructions
• Ensuring the right currency on the payment order related to the Invoices or internal rules (Forex)
• Bank clearing on day-to-day basis and daily posting of bank statements in SAP R3 (CITIDIRECT, Citibank, FIDES, “feban” transaction code)
• Cash optimization by arranging internal payments and managing short term investments (deposits)
• Trouble-shooting with regards to in and out cash flows (bank investigations, etc)
• Securing a proper collection of receivables by obtaining confirmation of payment and pre-advising funds to banks; Monitoring in time issuance of receivable invoices
• Opening/maintenance/closure of bank accounts
• Co-operating closely with other department heads in order to clarify and agree upon efficient and reliable interdepartmental workflows, procedures and processes
• Monitoring the issuance of Corporate Credit Card and follow up
Letters of Credit
• Submitting the instructions to the bank(s) to issue Letter of credits/Bank Guarantees in
• cooperation with the Operations team
• Ensuring and administering all the documentary process
• Issuance of the Letters of credit, bank guarantee, arrange for the factoring/discounting of the receivables through the various financial institutions
• Monitoring and examining of the incoming guarantees from the counterparties with strong cooperation
• from Group’s LC Desk (on demand)
• Ensuring follow up on all the documentary process and payments
• Managing and administering import-export Letters of Credit, Guarantees, Tenders, Performance Bonds, PCOs, discounts etc.
• Inputting data into in-house IT systems (SAP, Documentum, Excel reports, etc)
• Ensuring, performing and keeping banking collaboration and contact
• Representing the Company with the banks and counterparties in relation to incoming/outgoing guarantees
• Assisting and backing-up the finance desk team members
• Assisting the team in various additional ad hoc tasks tender preparation, contracts review, etc.
• Higher education in Accounting or Finance (ideally coupled with a professional certification);
• Around 1-3 years of professional experience in a similar role within the treasury department (at an international company or a bank)
• Excellent knowledge of banking flows and payment factory
• Knowledge of IFRS is a must
• Strong knowledge of SAP
• Advanced MS Office skills
• Accuracy and solid organizational skills
• Ability to act and operate independently with minimal daily direction from manager to accomplish objectives
• Ability to work cooperatively and collaboratively with all levels of employees, management, and external agencies to maximize performance, creativity, problem solving, and results
• Excellent written and oral English communication. Other languages such as Arabic, Russian and/or French are a plus
About the Company
LITASCO was founded in 2000 in Switzerland and it is the exclusive international marketing and trading company of LUKOIL Oil Company.
With head office in Geneva, LITASCO Group has established additional trading and business development offices worldwide, extending its reach around the world from the United States to Europe, the Middle East and Asia, managing LUKOIL's global crude oil and petroleum products supply, marketing and trading needs.
LITASCO has affiliates in Germany, Kazakhstan, Singapore, Sweden, the United Arab Emirates, the United States of America, the Netherlands as well as representative offices in China in Russia, in India and in Iraq.
LITASCO Group is one of the world's major traders of crude oil and refined petroleum products and deals with a vast range of suppliers and customers, including all of the world's major oil corporations.