Senior Finance Manager - Philippines, Pilipinas - Philsteel Holdings Corporation

Paglalarawan

Senior Finance Manager

JOB SUMMARY:

Directs and manages all day-to-day Treasury and Credit & Collection Functions of the Companies within the Philsteel Group as follows (i) cash management to include scheduling of disbursements for each Company of the Philsteel Group (ii) Credit & Collection Management (iii) Bank Relations to include identifying and negotiating with banks and other potential sources of funds and credits for the establishment of working capital, letter of credit (L/C) and other loan or credit lines of the Companies, (iv) investment of excess or investible funds, including the optimization of earnings or yields thereon, of the Companies, (v) proper documentation, recording, monitoring, reporting and control of all treasury transactions of the Companies.

Specific Duties and Responsibilities:

Cash Management:

· Directs and supervises the Cash Management functions for all Companies within the Phisteel Group

· Ensures that all companies are preparing Daily Cash Position Reports, Collection Reports, and Checks Issuances Reports.

· Ensures accuracy and prompt submission of treasury reports to the Sr. Financial Comptroller for all companies of the Philsteel Group

· Monitors and reports collection of trade and intercompany receivables of the Companies and remittance of proceeds thereof.

· Monitors due dates of postdated checks issued by customers and ensures that these are deposited on due dates.

· Prepares the Consolidated Cash Position of the Philsteel Group

· Schedules disbursements and amortizations considering the cash position of each Company

· Ensures that Inter Company Borrowings are properly documented, recorded, and monitored

· Ensures that all checks, debit and credit instructions, and other disbursement instruments issued by the Companies are sufficiently funded

· Follows up on scheduled disbursements and amortizations, prior to due dates, with the Accounting Department of the Companies concerned to ensure prompt payment of liabilities and expenses in order to avail of discounts or avoid late-payment penalties

· Prepares Cash Flow Projections and monitors the cash position, allocates available funds for working capital, invests excess funds, and optimizes earnings or yields thereon on a day-to-day basis for all Companies within the Philsteel Group.

Bank Relations:

· Supervises the opening, documentation, maintenance, and control of all deposits, trusts, special deposit accounts,s and other bank accounts with various banks and other financial institutions of the Companies

· Recommends the bank accounts or investment instruments as well as the banks or financial institutions in which to invest or place excess or investible funds of the Companies

· Ensures proper documentation, recording, monitoring, reporting, and control of all remittances, trust, Special Deposit Accounts (SDA), and other fund placements, and disbursements of the Companies

· Negotiates for competitive interest rates, bank fees, and other charges on all deposits, excess fund placement, disbursement, and other cash management transactions of the Companies

· Keeps abreast of the latest developments and best practices concerning (i) the handling and processing of cash management transactions: (ii) investment facilities and instruments available in the market; and (iii) interest rates

· Continually searches for, evaluates, and recommends banking and treasury products and services that will optimize the safety of principal, liquidity, and earnings in the deposit and investment of funds of the Companies

Import / Export:

· Directs and supervises the Import / Export Section of the Treasury Department.

· Negotiates, arranges, and renews credit facilities for the import, hedging, and other foreign trade financing requirements of the Companies

· Supervises the processing, documentation, tracking, and control of all availments, amendments, negotiations, and other transactions relating to the import hedging and other foreign trade financing facilities of the Companies

· Sources foreign exchange, at the least possible costs, for the import and other foreign currency requirements of the Companies

· Ensures that the terms and conditions of import LCs, hedging agreements, and other foreign trade credit agreements of the Companies are strictly complied with at all times by all parties concerned

· Ensures proper documentation, recording, monitoring, reporting, and control of all import, export, and other foreign exchange transactions of the Companies

· Continually searches for, evaluates, and recommends banking and treasury products and services that will reduce the foreign trade financing and inventory carrying costs, and minimize or eliminate foreign exchange and counterparty risks of the Companies

· Keeps abreast of the latest developments and best practices concerning letters of credit, bank guarantees, and other credit instruments as well as on foreign exchange rates

· Identifies, evaluates, and recommends approval of new/innovative financial products and services that will (i) reduce financing costs; and (ii) mitigate foreign exchange and counterparty risks of the Companies

Financing & Other Credit Functions:

· Negotiates with banks and other potential sources of funds and credits for the establishment of loans, credit, and other financing lines/facilities for the working capital and other financing and credit requirements of the Companies as well as supervises the opening and renewal thereof

· Supervises the processing, documentation, tracking, and control of all availments, payments, and other transactions relating to the working capital loan and other financing and credit facilities of the Companies

· Ensures that the terms and conditions of the working capital loan and other financing and credit agreements of the Companies are strictly complied with at all times by all parties concerned

· Keeps abreast of the latest developments and best practices concerning (i) the handling and processing of loans, financing, and other credit transactions; (ii) credit facilities and instruments available in the market; and (iii) interest rates

· Continually searches for, evaluates, and recommends banking and treasury products and services that will give the Companies better or less onerous credit terms and reduce their borrowing costs.

Credit & Collection Functions:

· Supervises the Credit Admin. Manage and ensures that all accounts have updated credit lines and facilities based on Credit Investigations conducted.

· Ensures that all sales orders comply with approved Credit Terms before approval is granted by approving Officers.

· Ensures that Daily Reports are submitted to the Sales Heads / Sales Managers on Outstanding Accounts Receivables in order to guide them in their collection functions.

· Signs Collection Demand Letters on behalf of the Company.

· Monitors and prepares Collection Reports on the Status of Overdue Accounts and Collection Legal Accounts for submission to the EXCOM on a Monthly Basis.

· Meets with the Sales Heads / Sales Managers on a monthly basis to discuss Collection Performance and Resolution of Collection Problems.

Administrative Functions:

· Regularly reviews and updates existing policies and procedures of Treasury and Credit & Collection and recommends revisions if needed.

· Regularly cascades to his subordinates and other employees concerned all approved new and amended policies and procedures on Treasury and Credit & Collection.

Competencies

A. Functional/Technical

· Must possess technical knowledge and competence in the handling and processing of treasury transactions (including cash management, bank relations, foreign exchange financing, and other credit transactions)

· Must possess knowledge of credit administration procedures and collection strategies.

Planning

· Able to prepare reliable and timely cash flow projections for the Companies

· Able to anticipate and prepare for drastic fluctuations in interest rates, foreign exchange rates, and financing/loan rates

· Able to prepare and implement annual budgets for his department

Organizing

· Able to develop and maintain a streamlined and proactive treasury organization that provides efficient and prompt cash management, foreign exchange, financing, and other credit services to a group of companies

· Able to organize and lead regular inter- and intra-department as well as inter- and intra-company meetings, cascading sessions, and other group activities

· Able to determine priorities, arrange tasks and identify subordinates who can effectively perform the tasks assigned to his department

Leading

· Able to manage and direct the Treasury & Credit & Collection Department

· Able to echo to or share with his people other new banking and treasury products and services

· Able to review the duties, responsibilities, competencies, and work outputs of his subordinates, and recommend training programs and promotions for them, where appropriate

· Able to recommend and justify the hiring of subordinates

Controlling

· Able to monitor and keep aggregate credit exposure in each bank or financial institution within approved limits

· Able to develop policies and procedures aimed at strengthening the internal control system within his department

· Able to develop policies and procedures aimed at strengthening the internal control system within his department

· Able to discipline subordinates and ensure their compliance with set rules, regulations, policies, and procedures