Assistant Manager
3 weeks ago
Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United A”rab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organisation to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.
By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day.
Al Futtaim Global Treasury Center is currently seeking a treasury professional to join their team in the capacity of Assistant Manager - Cash Management.
**JOB PURPOSE**
**KEY ACCOUNTABILITIES**
**Cash Management**
- Assist in determining Group and country cash levels.
- Decide on necessary actions to be taken based on the daily cash position, facility utilization and headroom
- Provide inputs and recommendation to Senior Manager - Cash Management to mobilize cash to manage liquidity efficiently (minimize interest costs)
- Ensure efficient cash management on a daily basis by working closely with the Senior Manager - Cash Management, as well as the Invoice-to-Pay (I2P), divisions and business units’ Financial planning and analysis (FP&A) teams.
- Ensure that accounts are funded in right currency and on-time
- Assisting in optimization of cash concentration at header level whilst ensuring the divisions’ daily liquidity requirements
- Assist in negotiation of group and country cash pooling arrangements
- Regularly reviewing the structure and pricing of cash management solutions
- Ensure proper records are maintained in Treasury Management Systems (TMS) for all transaction, working closely with Treasury Back Office Tower (TBOT)
**Short term Cash Flow forecasts**
- Assist in setting group-wide cash forecasting guidelines
- Report and analyse a short term 12-month rolling direct cash flow forecast on a bi-weekly basis in conjunction with divisions and business units’ Financial planning and analysis (FP&A) teams
- Assist in assessing the funding requirements for the Group and its subsidiaries
- Consolidate and maintain cash flow forecasts in Anaplan
- Perform regular variance analysis reports and discuss deviations with the divisions
- Prepare and maintain consolidated short-term cash flow forecast as per the Senior Manager - Cash Management guidelines
**In-house Bank**
- Assist in the Management of In-House bank (IHB) funding strategy
- Assess in coordination with Senior Manager - cash management and Global Treasury Center - Financial Risk Management (GTC/FRM) whether short term cash requirements should be funded from internal or external sources
- Assist in managing an in-house bank aimed at funding all short-term transactions on behalf of the Group companies from either pooled cash or utilizations of trade finance facilities provided by banks, optimizing net interest for Group and Group companies
- Ensure proper records are maintained in TRM for all transaction, working closely with Treasury Back Office Tower (TBOT)
**Governance and Transformation**
- Ensure compliance with Group treasury policies
- Provide inputs to Global Treasury Center - Governance, Risk Control & Transformation (GTC/GRCT) team on all reporting aspects
- Coordinate with TBOT to run daily cash position reports
- Provide inputs into cash management strategy including IHB and treasury policies
- Support all Treasury transformation projects, including further roll-out of TMS, and automated cash pooling strategies across the Group entities
**Other Adhoc responsibilities**
- Support Trade Finance function as and when required
- Prepare Adhoc reports as and when required
**QUALIFICATIONS, EXPERIENCE, & SKILLS**
Educational Qualification:
- Bachelor’s degree in Finance/accounting or equivalent - Masters degree is a plus or a professional qualification in finance eg. CFA, FRM, ACT etc.
Minimum Experience and Knowledge:
- Three to five years of experience in a similar role with a large conglomerate or a large multinational corporation. Knowledge of banking products - Trade Finance
Job-Specific/Technical Skills required to complete the tasks:
- Excellent skills and knowledge of Microsoft Office, knowledge of SAP TRM or equivalent is a plus, analytical skills
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