Manager Centralized Treasury - Trade, Insurance & Treasury Ops

Position Title:

Manager Treasury Operations & Insurance

Reports to:

GM Shared Services

Department:

Finance

Category:

Permanent

No. of direct reports (if any):

5 – Total team (18)

Division/Function:

Finance

Benchmark Band:

M3

Location:

THF

Division Head / CxO:

VP Finance

• Job Purpose

(Summarize why this job exists)

Treasury Operations:

The purpose of this position is to serve as one point of contact at a managerial level for treasury operations across all the Engro subsidiaries. This position provides critical support in daily treasury operations to ensure smoother and quicker operations. This position also acts as an epitome of relationship management with internal and external stakeholders which fosters a healthy working environment in the treasury.

Insurance:

The purpose of this position is to supervise and manage appropriate financial risk mitigation through comprehensive insurance coverages for all identifiable business assets including business continuity coverage as well as management of insurance operations to ensure timely renewals and payments, manage and supervise all the insurance claims processing and stakeholders’ management.

• Key Accountabilities & Performance Indicators

(Maximum 12/14 accountability statements in the form of verb/noun/result area). This section should answer the question “What are the main areas in which this job must get results in order to achieve its Purpose. Check for a link between the items listed and the KPIs of the organization)

DescriptionPerformance IndicatorsTreasury

Managing and supervising overall Treasury operations for the entity including support to operational team on day-to-day transactions i.e. from Opening of Letter of Credits (LCs), Contract & Open Account till retirement, making foreign loan repayments, timely fund transfers to support payments / investments and review of sales collections recorded.

• Timely opening of LCs/Contract/submission of remittance cases to SBP. Coordination with Group Treasury team if there is a need for LC limit enhancement to support business while also supporting timely retirement of LCs / trade transactions.

• Ensuring timely payment of short term and long-term Loan repayments (including quarterly rental payment of Sukuk) as per Loan schedule agreed with Group Treasury. Best exchange rate should be negotiated for such transactions.

• Monitor operational team to ensure timely delivery on operational tasks including daily management of fund transfers as well as complete and correct recording of all investment transactions in the templates.

• Monitor and review sales collections recording

Review, standardization, and automation of treasury processes

Automated processes with extended controls including cost and man hours savings.

Managing insurance coverage for existing and new assets / business areas

Critically analyse insurance coverage across the Engro group to create value for the Corporation and drive strategy for group wide insurance.

Timely and effective negotiation with insurance brokers and foreign reinsurers for getting timely insurance coverage for existing assets as well as for projects

Liase wth reinsurers for any Insurance Claim

Managing effective relationships with international brokers and re-insurers

Managing and monitor insurance claims control list and ensure timely recovery on claims

• Completeness and accuracy of claims control list

• Minimize claim settlement time by effective stakeholder management – insurance company and insured.

For Company level claims, dashboard reporting to Business Finance on overdue claims including support on Board packages

Managing and supervising Insurance Roadshows Planning and Market analysis

• Support in roadshows planning for significant insurance policies including facilitate in planning meetings with insurance broker and development of engagement plan with insurance companies / re-insurers.

Coordinate with Insurance market / reinsurers on global market news and communicate Business Finance of key developments

Manage relationships with external parties including banks, DFIs, external auditors and lawyers in relation to automation and other projects and from overall relationship management

Timely Service delivery, Customer satisfaction

Audits & Compliance

Ensure proper documentation and SOPs are in place for related areas.

Ensure SLA/SOPs are adhered to in dealings between business and FSS

Supervise audits and compliance

• Budget Responsibility

(Financial items which this position is accountable for or has a strong impact on. The money amount should be on an annual basis, rounded to nearest thousand, ten thousand, etc. Accountability for revenue and expenditure should be included)

Items Year

Operating Budget items approved by this position

PKR

Yes (2 Bn)

Revenue (sales) targets for this position

N/A

Cost of employees under your direction

PKR

HR to fill

Total no. of immediate subordinate positions

5

Overall capital expenditures that will be made in this immediate department / section / branch this year

PKR

Yes

What position makes the ultimate approval for the project and therefore the total budget

BOD Engro Corp

BOD

What position approves the actual item by item purchase of the individual items within the overall capital expenditure mentioned above

As per LOAM

CFO/VP Finance

*Number may change based on the business requirements and growth agenda. Please describe any other financial or money amount items that will help to understand the impact of this job.

NOTES: For subordinate positions, please don’t include money amounts which are for the whole department, or for the supervisor / manager position. If this position in fact does not approve budgets, or budget expenditure, or if this position does not have direct sales / revenue targets, then the above items should be blank.

Frameworks, Boundaries and Decision-Making Authority:

(Define the nature of policy/procedure/instruction constraints and the nature of reporting relationships with line manager as well as any relevant sign-off authorities)

• Own Decisions (Types of decisions the incumbent can make)

• Resource Management

• Workload management

• Resource back-up planning

• Dispute resolution

• LC business to banks

• Treasury and Insurance issues identification and their resolution

• Types of decisions referred to higher authority or decisions which are controlled by policy

• Insurance Premium Rates finalization

• Policy changes and policy driven items

• The review of the work expected from this position.

The primary role of this position is to supervise the work done by the treasury business partners and insurance lead who in turn review the daily tasks performed by the operations team. This position provides final review on presentations/ SOPs/ SLAs before it is routed to GM Shared Services/VP Finance.

• What position(s) gives any further specific (formal) advice or guidance to this position

• VP Finance

• GM Shared Services

• CFOs / GM Accounts/Manager Accounts - Subs

• Communication and Working Relationships

(Describe the purpose and nature of the main internal and external contacts, excluding line manager and direct reports, which are necessary to perform the job)

• Main internal stakeholders:

• Subsidiary finance teams

• Subsidiary non-financial teams interlinked with subject matter processes.

• Digitization Lead / ICT GMs on automation

• Internal Audit

• Main external stakeholders:

• Local Banks, DFIs, NBFIs, AMCs, Foreign lenders (IFC, DEG etc)

• Insurance Companies, Insurance Brokers, and Insurance Advisors

• External Auditors

• Legal Advisors

• Technical Advisors

• Key Challenges

(Briefly describe the most difficult and complex aspects, the main challenges of the Job and/or other significant features not covered elsewhere.)

• Implementation of most optimal solution in coordination with industry experts and ICT/IS team against each identified project.

• Opening of Trade LCs in the absence of LC limit

• Managing business in times of constraints from regulatory authorities (such as SBP etc)

• Manging business Finance Day 1 financial closing requirements to ensure complete and timely closing while avoiding post-closing adjustments.

• Signatories Management

• Knowledge, Skills & Abilities, Experience [KSAE] required

(Describe the minimum level of Knowledge, Years of experience and Must-Have Leadership and Technical/Functional skills)

Skills / Abilities & Key Knowledge Areas

Must-have Leadership Competencies

(Identify min 3 where Advance level is needed)

• Puts People First (Advanced)

• Acts Entrepreneurial (Advanced)

• Thinks Engro

• Fosters Collaboration (Advanced)

• Executes with Excellence

• Demonstrates Adaptability

Must-Have Technical / Functional Skills

(List max 6; ideally max 4 with Advance level)

• Core Treasury Operations & risk management/Cash Managmeent

• Strategic business oversight

• Central bank regulations/Fixed Income instruments/hedging

• Insurance Operations

• Communication / Stakeholder management

Key Knowledge Areas

(List most relevant)

Financial Accounting

Treasury strategy & operations

Financial planning

Insurance & Risk Management

• Experience & Education (& Technical Qualifications if applicable) Professional Experience

(Must mention relevant)

Corporate treasury (5-10 yrs)

Risk Management (5 yrs)

Education & Technical Qualifications*

(List must-haves & preferable)

Mandatory: MBA in Finance

Preferred: CA

• also mention any license, registration, or certification specifically required to achieve the outputs expected from this job