Job Purpose
To plan, organize and perform treasury activities related to Cash Flow, borrowings, debt servicing, maximizing yield on short term investments from surplus cash and effective utilization of cash in a manner consistent with the objectives of the Company.
Job Context & Major Challenges
Job Context:
The combined production capacity of all India units is 3,46,000 MT p.a. with a combined Sales Turnover of Rs.2,502 Crs. Banking, Treasury, Insurance, Finance and Commercial function for all the three units is centralised at Regional office situated at Gummidipoondi. All activities related to Banking, Treasury and Insurance are carried out at Regional office.
Job Challenges:
•To estimate daily cash inflow, cash outflow and prepare DFR
•To transfer funds based on requirement for payment and investment
•To prepare bank limits Vs utilization on daily basis
•To open Letter of Credit & Bank Guarantee based on requirement from units.
•To prepare investment return statement and provide for accounting.
•To check interest working debited by banks and report deviation for correctness
• To arrange documents for raw material import payment, Buyers Credit loan, repayment of loan correctly in a timely manner
•To ensure proper accounting entries for all banking related transactions including interest, loan availment, repayment and investment related entries
•To arrange documents and submit to banks for capex import hedging
•To prepare periodical reports required by banks like Stock statement, Foreign Currency related reports, FFR & FFR II.
•Co-ordinate with banks for obtaining banks statements, transaction advices etc.,
•To maintain, modify bank authorized signatories as and when required
•To liaison with bank and resolve transaction level issues
•To maintain list of insurance policies, obtain quote for renewal and compare quotes
•To submit periodical declaration to the insurance company
•To renew insurance policies timely and premium accounting
•To monitor Sum Insured Vs actu