1. To manage and ensure optimal deployment of daily cash flows (collections and payments through banks) across Cement & A&C; Divisions
2. Handle, issue and monitor all non-fund-based exposure of the company (Letters of Credit and Bank Guarantees)
3. Job Description:
1. Cash Management : Be the nodal point for CMS for seamless flow of cash through the system
- To coordinate between Sales Team / Accounts Team and Banks for query resolution, trouble-shooting and expeditious for resolving the same
- To monitor entire CMS operation of the company for seamless flow of collection and payments of the company
- To manage daily fund position closely to ensure efficient utilization of funds with adequate liquidity at all times and invest surplus funds in suitable investment avenues yielding highest possible returns, within the guidelines of the company treasury policy
- To negotiate with Banks and Financial Institution to obtain most competitive rates for parking the surplus funds/ rollover of existing deposits.
- Daily preparation / review and reporting of Treasury Dashboard to top management and shareholders
- Daily /monthly/yearly cash flow forecast preparation and tracking with actual
2. To maintain control over all bank accounts and perform periodic reconciliations of number of bank accounts and ensure timely updation /addition/deletion of the list of signatories.
3. Issuance / monitoring of non-fund-based trade instruments (Letters of Credit and Bank Guarantees:
- Screening of draft bank guarantee / LC text proposed to be issued and making necessary recommendation of modifications in text to Business
- Communicate and discuss the changes proposed by Bank with Business for onward discussion with customers / vendors
- To meet and discuss with customer / vendors along with Business, if required and give justification / explanation for the proposed changes in BG /LC text.
- Negotiate with Bank for necessary changes / modification proposed and agreed with customer / vendors and final agreement with Bank for issuance of BG/LC.
- To facilitate Business for invocation of bank guarantee received from various parties in the event of nonpayment of dues / failure of performance to the company.
4. Bank Relationship / Multiple Banking Arrangements:
- Design of effective collection and payment system for the company ensuring seamless flow of funds
- Ensuring good relationships with bankers on an ongoing basis for smooth banking operations of the company
- Maintenance and periodic renewals of existing working capital lines with multiple banks and establishment of current/additional credit lines.
5. Management of Short Term / Working Capital Funding Requirement - Evaluate and recommend best and most economical modes of Working Capital financing WCDL, Commercial Paper, Buyer s Credit etc.
6. Treasury Risk Management / Compliance -
- Providing Treasury details to Accounts for complete & timely accounting and coordinating with Statutory Auditors for Treasury queries
- Review and suggest improvements in internal control system relevant to treasury.
- Ensure timely obtaining quarterly derivative certificate and due diligence certificate from auditors / external agencies and submitting the same to the respective authority.
7. Management of Insurance Portfolios -
- Assist N+1 for handling renewal program of all major policies including Employee Benefit, Property, Marine and Liability.
- Preparation of renewal data for all policies.
- Supervision Supervision and control of the entire Cash Management process to ensure minimal idle float of funds and maximum possible returns from investment of surplus funds.
- Ensuring timely issuance and renewal of well-negotiated BGs / LCs on the companys standard terms and conditions and at minimum cost
- Actively maintaining and ensuring good relationships with bankers /lenders/ credit rating agency at the operational level, on an ongoing basis
- Along with N+1 /CFO, evaluating, recommending and implementing the best and most economical modes of short-term working capital financing WCDL, Commercial Paper, Buyer s Credit etc
- Ensuring 100% timely and accurate compliance with respect to regulatory requirements.