Manager – Cash Flow Planning & Management

About the Job
Role purpose:

Efficient management of cash, funding, and financial risk for 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 and monitor ongoing liquidity requirements across the organization and its companies and propose improvements.
Ensure timely update of cash actualization and cash flow forecast using the data from the banks and download into Oracle application
Perform the cash flow actual for comparison to forecast utilizing data on actual revenue cash receipts, revenue expenses and capital expenditure is 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 centralized cash pool daily/overnight in money market in line with 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. With specific focus to: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 practice 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 policies requirements
Preparation of cash forecast on agreed periodic basis and approval by Financial Management
Report variances and explain them between forecast and actual cash flow to measure 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.
Key performance indicators:

Monitor compliance and ensure nil incidents of non-compliance.
Apply and enforce treasury controls, policies, and procedures.
Ensure all monies received at the retails stores are banked intact at agreed times as stipulated by the company policy and are accounted and reconciled in full to the source transaction documents.
Analyze and propose investment of surplus cash as per policy.
Institute procedure circulated to all users for monitoring problems arising in the electronic payment system through a helpdesk set-up and ensure system is available at least 98% of the time
Take an annual payment system certification process to ensure the necessary payment controls are in place.
Compliance with the approval mandates as per approval of the board and the DOA for all payments, interbank and intercompany fund transfers.
Daily cash concentration in line with the CPR requirements of the Treasury policy.
Put in place a process to manage all bank fees, loans, and investments centrally.
Optimization of the banks, bank accounts and payment and receivable systems with an aim to reduce the bank platforms in use.
Application and enforcement of loan covenants as per company regulatory and lenders requirements.
Preparation and issue of cash forecast report on agreed periodic basis i.e., 30day, 60day and 90 day monthly by end 2nd working day to Management (CFO, Business Planning Manager, Financial controller)
Prepare and issue to management a 12-month rolling forecast every month.
Issue a weekly report by end Monday to CFO, Financial Controller, Business Planning Manager, comparing actual cash flow compared to forecast in the month
Issue a monthly report by end 2nd working day of month to CFO, Financial Controller, Business Planning Manager, comparing actual cash flow compared to forecast in the month and coming quarter and 12 months
Obtain at least 90% of information continuously on planned payments used in the cash forecast directly from Oracle in an integrated flow
Monitor all bank charges levied by the banks for all forms of transactions and ensure the business obtains the best rates possible compared to rates charged by other banks
Monitor interest amount charged by the lending parties monthly by reconfirming interest computation against the contracted interest rates and issuing report to the Financial Controller of such computations by 3rd working day of the month
Ensure repayment of interest and principal amounts are done on time in line with borrowing terms as set in the contracts eliminating any penalties to the company.
Company has defined its exposure limit in forex currency and adequate cover has been taken at an appropriate level (CFO) in line with the Group
Exposures are calculated accurately and monitored according to policy through issue of monthly reports by 2nd working day of the month.
100% compliance to company forex procedures and authorities are being followed for all transactions.
Accurate quarterly report of new Forex exposure identified, and remedial actions taken.
Ensure timely and accuracy of the dividend payment process in liaison with the share registrar and the bank
Effective management of the staff within the section with the aim of supporting them to grow and increase performance.

About You
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 within Treasury to manage the available funds in the business on a day-to-day basis to ensure optimal utilization and lowest costs are incurred
Develops and advises on funding strategies for the business

Requirement Skill

Account management
Desired Skill

Account management
How To Apply
BY Email – apply@lonadd.com