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Treasury Specialist

Job Title: Treasury Specialist
Contract Type: Permanent
Location: Erbil, Iraq
REF: 1481
Contact Name: Ghusoon Nader
Job Published: over 1 year ago

Job Description

MSELECT is looking to hire a Treasury Specialist for an international oil operator in Erbil; successful candidate must possess at least 3 years’ experience working in a similar background. Proficiency in English and Kurdish is required.

Key Responsibilities
Budgeting and reporting

  • Communicate with Head office functions in order to receive information for monthly Cash Flow Plan and annual Budget with the proper quality;

  • Prepare monthly Cash Flow expected Plans and Actual, create macro- files required by Head office communicate with Head office on related matters;

  • Prepare Cash flow forecast on daily basis in order to understand Branch’s funds needs and prepare financing request;

  • Communicate with Head office functions with regards to monthly adjustments based on invoices received, prepare official letter and macro- file to provide adjustments.

Bank accounts management

  • Control execution of all bank payments and provide cash balance reconciliation at the end of each payment day;

  • Responsible for closing of FX for all the foreign currencies and receipt of approvals in accordance with the internal procedure;

  • Support all the payments in foreign currencies from the request of payment execution at the bank till the confirmation of receipt of funds by the Contractor;

  • Support relationships with banks in which Branch has accounts/provide FX transactions; provide constantly search of alternative banks to work with (options) and if needed approve it with Head office;

  • Control the final cash balance at the month end, perform reconciliation with the accounting and submit the report to Head office;

  • Manage inventory counting in relation to bank accounts

Management of payment process and analytics

  • Monthly check of correctness of payment database information;
  • Control of payments made according to database vs. bank account statements;
  • Prepare Reestr of payments and control over its approval internally in Branch and Head office, send for approval to head office, control over payment execution;
  • Reconcile all DBF approved vs. DBF paid according to database for each payment day;
  • Responsible for integration and reconciliation of accounting payment register, database and bank payment register;
  • Monthly statistical reports about financial discipline and payment processes execution (incorrect YF data, YF received late, delay in approval from company, etc.);
  • Establishing and managing Branch payment process in line with Local Law, internal instructions and policies;
  • Manage inventory counting in relation to inter company transactions

Account Payable/Receivable

  • Perform reconciliation of Accounts payable/receivable/Prepayments with the accounting and BS at every month end;
  • Make analyzes input in order to make sure of budget code correctness and availability of Budget limit.

Internal controls and compliance

  • Comply with internal Branch policies;
  • Create internal procedures and policies to improve control and efficiency of Branch Finance function.

Other tasks

Collaboration with accounting team, banks and outsourcing companies in order to improve data quality on actual and payments, banking on-line system, cash management etc.