Group Treasury and Tax Manager (Nairobi) at Safal Group

Introduction

The incumbent will assess and manage the group’s identified investment opportunities, capital structure, long term & short-term funding, trade finance, cash flows, lenders/banking relationships, foreign exchange & interest rate and working capital, in coordination with all the Business Units.

He/She will manage the Group Transfer Pricing requirements and also analyse and monitor various tax matters including audits and disputes at various Business Units.

He/She will coordinate the Internal Audit and External Audits for all Business Units.

Specification

Treasury

1. Assist in evaluating group’s identified investment opportunities, coordinate funding arrangements;
2. Advise on optimal capital structure for each Business Unit; assist in framing objectives, policies and procedures covering ratios for capital structure and formulating strategy and roadmap for compliance, review status and monitor movement towards the desired structure;
3. Assist in long-term and short-term funding needs for the Business Units, monitor utilization levels, costs, other terms, ensure timely payment of principal, interest and other charges;
4. Assist with working capital facilities, including trade and non-funded facilities, while determining the level of borrowings, relationships, securities and covenants for the Business Units and monitoring timely renewals of facilities;
5. Oversee the cash and liquidity management through cash flow planning and forecasting, reviewing funding needs and other reports of treasury activities for each Business Units, finding suitable solutions to address cash flow issues envisaged, if any;
6. Evaluate, develop and implement cash management systems to optimize efficiencies;
7. Nurture and strengthen relationships with financial agencies and other stakeholders, coordinate arrangements, negotiate costs/other terms and monitor compliance with all the covenants;
8. Analyze and perform appropriate foreign exchange risk management based on market dynamics, norms, systems and methods of foreign exchange risk management, levels of exposure, coverage etc;
9. Assist in framing objectives, policies and procedures covering norms for various working capital components, monitoring levels and costs through regular review of stocks, debtors, creditors, cash & bank balances, other current assets/liabilities and cash-flows for the Business Units; enforcing corrective and preventive actions to bring home benefits;
10. Development and revision of financial policies for capital structure, working capital, treasury operations, foreign exchange and interest rate risk management;
11. Develop and manage strategies, operations, policies and budgets relating to treasury activities;
12. Driving treasury specific projects/initiatives across the Group;
13. Raise red flags on issues and escalate matters to GCFO

Tax

1. Provide advice and guidance on all tax related matters to Business Units;
2. Monitor adherence to tax provisions and compliance to tax matters, working closely with Business Units to implement and improve end-to-end tax process and procedures to mitigate risks;;
3. Preparation of monthly Group Transfer Price in line with the policy in place;
4. Development and revision of Transfer Pricing Policies in line with the statutory legislation and regulations, OECD guidelines as well as Group guidelines, where required;
5. Assisting with tax audits and attending to tax matters/queries and tax disputes raised by revenue authorities at Business Units;
6. Working closely with BUs for any claims and/or refunds that may be due to the BU from revenue authorities and statutory compliance related thereto (VAT refunds, Duty Drawbacks, other tax claims/refunds etc.);
7. Building relationships with stakeholders at revenue authorities and interacting with tax consultants of respective BUs;
8. Monitor developments regarding tax policies, highlighting any changes thereupon and evaluate impact on Group’s business, so as to develop and execute plans accordingly;
9. Raise red flags on issues and escalate matters to GCFO

Audit

1. Coordinate Group Internal Audit process and resolve observations with Business Units;
2. Coordinate with the External Auditors of the Business Units ensuring logical and timely conclusion of statutory audits;
3. Maintain relationships with auditors;
4. For any change in the External Auditors arising from the duration the current auditor has been in office or otherwise, identify audit firms for appointment

Qualifications required: CPA/ ACCA/ ACA or equivalent

Experience required:

1. General work experience (years): 15 years
2. Post Qualification experience (years): 15 Years
3. Industry: Manufacturing
4. Environment: At least 5 years in a similar role, dealing with multi-unit organization

Key competencies and skills:

The candidate should have hands-on experience in the following:

1. Significant prior experience within an international financial function, ideally within a leadership capacity with expertise on Treasury and Taxation function
2. Banking and capital markets experience including credit analysis and multi-institution debt facility negotiation;
3. Strong experience in forex risk management
4. Experience in devising multi-locational policies and procedures