Senior Analyst - Treasury Compliance

About Emirates Global Aluminium

Emirates Global Aluminium is the world’s biggest ‘premium aluminium’ producer and the largest industrial company in the United Arab Emirates outside the oil and gas industry.  EGA is an integrated aluminium producer, with operations on four continents from bauxite mining to the production of cast primary aluminium and recycling. EGA employs over 7,000 of these people including more than 1,200 UAE Nationals. EGA operates aluminium smelters in Jebel Ali and Al Taweelah in the United Arab Emirates, an alumina refinery in Al Taweelah, a bauxite mine and associated export facilities in the Republic of Guinea, a speciality foundry in high strength recycled aluminium in Germany, and a recycling plant in the United States.

JOB PURPOSE:
To provide information and reports on treasury related risks, exposures and transactions and to ensure the relevant treasury transactions are processed, recorded and accounted for in accordance with company’s policies for control and accounting in compliance with loan covenants and reporting requirements

KEY ACCOUNTABILITIES:
Policies, Processes & Procedures
    Follow departmental policies, systems, processes, procedures and controls to ensure consistency, standardization and accuracy in ways of working
    Support seniors in the review and revision of methodologies, procedures and processes in line with EGA group-wide requirements and international standards
Confirmation and Settlement of Treasury Transactions
    Ensure that all treasury transactions are accurately recorded in the Treasury Management System (TMS) on time
    Ensure all treasury transactions are confirmed with the counterparties on a timely basis and errors/discrepancies are reported and followed up for timely resolution
    Ensure timely settlement/rollover of treasury transactions
    Maintain treasury related hedge documentation (including ISDAs and sponsor guarantees) as required by established policies and procedures
    Analyse hedges vs exposures to highlight over/under hedge positions
    Process transaction confirmations in line with defined control standards including bank requirements, EGA Group Board mandates, EGA Group Treasury Policy, Delegation of Authority and ISDAs
Loan Administration and Debt Servicing
    Ensure all Debt facilities (including Shareholder loans), drawdowns, repayments are accurately recorded in the Treasury Management System (TMS) in a timely manner
    Ensure accurate calculation of all debt service obligations in TMS and posting of monthly accruals  
    Monthly reconciliation of Interest, fees and loan balances 
    Handle loan related queries from the lenders/shareholders
    Process Cash call requests from group companies and ensures accurate recording in the 
Treasury Management System (TMS) in a timely manner
Covenant Compliance
    Conduct Quarterly compliance reviews, investigate and report areas of non-compliance  
    Ensure that all lender related obligations are met within the expected timeframe
    Ensure the submission of all lender related reporting obligations as required by the financial covenant
    Conduct prospective testing and ensure that management is informed of any possible future non-compliance
    Support the various departments to understand and apply EGA group’s compliance obligations and also to Investigate, report and follow up on resolution of non-compliance items
    Set-up controls to monitor compliance of the existing Treasury Rules & Policies eg Deal Confirmation, Counterparty Limits, Dealer Limits and Financial Covenants
Treasury Accounting
    Ensure TMS account correctly for treasury transactions in line with policy Carry out month-end treasury accounting activities (including hedge accounting, MTM valuations) and support GL team with the preparation of Treasury related schedules/disclosures
    Perform reconciliation and analysis of designated GL accounts as per the SLAs set up with GL team
    Coordinate and interact with internal and external auditors in carrying out their periodic reviews
    Provide timely and relevant information to support the treasury audit process
Bank Relationship 
    Ensures any changes to bank mandates which are relevant to treasury compliance are communicated to banks or relevant institutions on a timely basis
    Ensure any changes to company SSIs are communicated to banks or relevant institutions on a timely basis
    Handle various KYC requests/queries by financial counterparties/lenders
Policies, Systems , Processes and Controls
    Ensure adherence to standard operating procedures (SOP)
    Support any system implementations for EGA Group
    Identify any system issues and support the IT department in the  implementation of fixes, corrections and improvements in EGA Group SAP and Treasury Management Systems
    Maintain and update the Static Data of TMS as required ie Accounting set-up, Facility Maintenance, Instrument set-up, Bank Accounts and BP maintenance 
    Observe Treasury controls and procedures are strictly followed by the whole Treasury Operations team and any exceptions highlighted via Monthly Exceptions report
    Review and update Standard Operating procedures for applicability and relevance with a strong view on controls
    Explore TMS functionality to handle new Treasury products/instruments and work with IT to make required set-up in TMS as per business need
Treasury reporting
    Prepare the Consolidated Monthly Treasury Report and other ad-hoc  treasury reports at the request of Senior Management
    Handle ad-hoc information requirements from other teams/stakeholders
Related Assignments
    Handles any ad-hoc information requirements or processes as directed

4.    AUTHORITY/ DECISION MAKING:
Guidelines: 
    Thinking within clearly defined policies, standards and specific objectives 
Decision Making: 
    Direction of work is subject to practices and procedures, output is managed

QUALIFICATIONS & SKILLS:
Minimum Qualifications:
    Bachelor degree in Finance / Accounting from a recognised university - professional certification will be preferred
    Professional qualifications are highly recommended (CertITM from ACT, FRM/CFM/Diploma in Treasury/CA/CPA))
Minimum Experience:
    4-7 years of experience in Treasury back office functions of a large, international organisation 
    Experience of managing a team and ability to interact with large group involving different nationals
Skills:
    Hands-on experience of processing treasury transactions in a corporate treasury environment
    Thorough understanding of treasury accounting principles and applications 
    Good understanding of IFRS and how it impacts Treasury accounting
    Hands-on experience in using SAP TMS  for recording and reporting of treasury transactions
    Strong written and verbal communication skills
    Ability to work under pressure and deliver to deadlines
    Proficient in MS Excel