Treasury Accountant

Job description

Cash Management & Liquidity: - Prepare and distribute the daily bank position report covering all company accounts and entities. - Maintain a rolling 13-week cashflow forecast, reconcile actual cash flows monthly, and provide explanations for significant variances. - Prepare Cash In and Cash Out reports and monthly liquidity and funding requirement reports for the CFO and management. - Plan funding requirements for new outlets and projects, including fit-out, capital expenditure, and working capital requirements. - Monitor daily collections and receivable inflows against forecasted cash receipts. - Coordinate with Operations, Sales, and Accounts Receivable teams to support timely collections and maintain adequate liquidity. Banking & Financial Facilities: - Manage relationships with banks and financial institutions and coordinate day-to-day banking requirements. - Monitor banking facilities, credit limits, guarantees, renewals, and related documentation. - Support negotiation of banking pricing, fees, terms, and facilities in coordination with the Treasury Supervisor & CFO. - Coordinate fund transfers, foreign payments, and foreign exchange transactions. - Monitor foreign exchange exposure related to imported supplies and international payments. - Maintain updated bank mandates and authorized signatory records. - Monitor loan facilities, overdrafts, Murabaha arrangements, principal repayments, interest schedules, and applicable bank covenant requirements. Payment Governance & Financial Controls: - Consolidate the daily payment schedule against available cash balances and approved authorization limits. - Submit payment schedules for appropriate management approval in accordance with the company's delegation of authority. - Maintain and regularly update the payment approval matrix, bank account register, and treasury procedures. - Review supplier ageing and recommend payment prioritization based on contractual obligations, operational criticality, and available cash resources. - Ensure all payments are supported by appropriate documentation and approvals. - Support internal and external audits by providing bank confirmations, reconciliations, payment records, and treasury documentation. - Maintain a statutory payment calendar covering VAT, WHT, GOSI, payroll, and other regulatory obligations to ensure timely settlement. Bank Reconciliation & Accounting: - Prepare daily/monthly bank reconciliations and investigate and resolve outstanding items. - Prepare the employer statement reconciliation and ensure accurate posting in SAP. - Ensure all treasury-related transactions are accurately recorded in the accounting system. - Monitor unidentified bank transactions and coordinate with relevant departments for timely resolution. - Maintain accurate records of banking activities, transfers, deposits, withdrawals, and related documentation. Daily Payments & Transaction Processing: - Process approved daily payments, including petty cash requests, government payments, supplier payments, project payments, employee vacation and final settlements. - Release approved payments through authorized bank portals in accordance with company policies. - Share payment/transfer slips with relevant requestors and maintain appropriate records. - Prepare monthly supplier ageing reports and vendor account reconciliations. - Prepare monthly withholding tax reports and coordinate timely payment. - Process petty cash disbursements in accordance with approved controls. - Perform month-end petty cash confirmations with designated petty cash holders. - Handle cash deposits and withdrawals and maintain complete supporting records. Payroll & Employee Payments: - Prepare the payroll bank file (TXT) in coordination with HR. - Process approved salary disbursements through the company's banking platforms. - Ensure payroll payments are released accurately and within approved timelines. - Process employee vacation settlements, final settlements, and other approved employee-related payments. Time Sheet & Administrative Treasury Responsibilities: - Act as the designated Time Sheet Owner, ensuring timely and accurate completion and submission of timesheet-related requirements. - Maintain organized treasury records and supporting documentation. - Ensure confidentiality of banking information, payment details, account information, and financial data. Reporting & Management Support: - Provide regular treasury and cash-flow reports to the Treasury Supervisor and CFO. - Highlight significant cash-flow movements, liquidity risks, funding requirements, and payment priorities. - Provide analysis and recommendations to support effective cash management and financial decision-making. - Support management in monitoring working capital and optimizing the timing of cash inflows and outflows. Requirements Qualifications and Experience: - Chartered Accountant or equivalent professional qualification such as ACCA, CA, CMA, or equivalent. - Minimum 5-8 years of experience in treasury, cash management, or senior accounting roles. - Experience in a multi-branch F&B, retail, contracting, or similar high-volume transaction environment is preferred. - Hands-on experience with SAP, particularly bank reconciliation and payment processing. - Strong experience in cash-flow forecasting and financial modelling. - Working knowledge of Saudi banking practices, banking facilities, and online bank portals. Job Specific Skills: - Strong knowledge of treasury and cash management principles. - Advanced Microsoft Excel skills with the ability to develop and maintain cash-flow models. - Strong SAP skills related to bank reconciliation, payment runs, and financial transactions. - Knowledge of supplier ageing, vendor reconciliation, payment processing, and statutory payments. - Understanding of Saudi banking practices and payment processes. - Strong financial analysis and reporting skills. - Good knowledge of foreign payments and FX transactions. - Strong negotiation and stakeholder management skills. - Must have valid driving license. Competencies: - Strong control mindset and attention to detail. - High level of accuracy in cash-flow forecasting and financial reporting. - Strong analytical and problem-solving skills. - Integrity, confidentiality, and professional discretion. - Ability to challenge payment requests and enforce financial controls. - Strong organizational and task-prioritization skills. - Ability to work effectively under pressure and meet strict payment deadlines. - Excellent communication and interpersonal skills. - Proactive approach to identifying liquidity risks and impr About this profession: A Treasury Accountant is primarily responsible for managing daily cash flows, monitoring liquidity, and performing bank reconciliations to ensure the financial integrity of the organization. They play a vital role in controlling cash balances and managing relationships with financial institutions in accordance with Saudi regulations. Furthermore, they contribute to preparing financial reports on cash forecasting to support decision-makers in financial planning. • Manage daily cash flows and monitor corporate bank balances. • Prepare periodic bank reconciliations and reconcile cash accounts accurately. • Manage financial transactions with banks and local financial institutions. • Prepare financial reports and cash forecasts to support financial planning. • Execute financial transfers and settle dues according to approved policies

Requirements

• Qualification: Bachelor’s degree in accounting or finance or equivalent
• Skill: Practical experience in treasury and bank accounting
• Skill: Proficiency in using financial systems and advanced accounting computing programs
• Skill: Cash and Liquidity Management
• Skill: Bank reconciliations
• Skill: Cash Flow
• Location: Eastern Province

Skills