Treasury & Risk Manager Job in Dubai Cable Company – Ducab Dubai, United Arab Emirates

Website Dubai Cable Company - Ducab

This Job Listing is about Dubai Cable Company Ducab in Dubai, United Arab Emirates
2022

About the job

Job Purpose

Direct, monitor and control the Treasury functions including Metals hedging, foreign exchange risk management, liquidity forecast and General Insurance Portfolio. To ensure optimal utilisation of available financing facilities , and protect the metal price risk exposure in line with corporate hedging policy and procedures.

Main Accountabilities Of The Job

1. Strategy

  • Develop the Treasury, Risk management and Group Liquidity strategy and present to the hedging steering committee on quarterly basis. with objective to achieve Treasury KPI’s

2.Management

  • Reinforce the performance culture and actively manage the Treasury department performance to meet or exceed all performance objectives.
  • Develop team members to ensure business sustainability
  • Develop UAE nationals to support the Emiratization strategy and objectives
  • Encourage innovation and drive change management initiatives
  • Oversee programs for innovation and Continuous Improvement in pursuit of greater productivity
  • Custodian of Risk management systems (CTRM) and manage business teams to constantly enhance the controls.

3.Policies, Processes and Controls

  • Develop, recommend and implement, when approved, the Treasury department policies and guidelines in line with Company and international standards
  • Periodically review and instigate controls to ensure risk management functions (price risk (commodities and currencies), and insurance) operate within the Parameters set out in company policies and industry best practices.

4.Budgets and Operational Plans

  • Develop and manage the Treasury department budget, work plans, KPI’s and SLA’s
  • Monitor implementation of the department budget to ensure effective control over expenditure

5.Treasury Funds Management

  • Protect Ducab’s liquidity risk by ensuring optimal funds availability for operational and expansion requirements
  • Maintain an accurate and timely financial reporting process for hedging and financial positions of the company in line with the internationally accepted accounting standards e.g. IFRS to achieve optimal use of funds and facilities

6.Risk Management

  • Lead the implementation of the Ducab risk management system to identify and assess relevant corporate risks from a treasury perspective and recommend measures to the Steering Committee to manage and mitigate identified risks
  • Monitor the exposures and direct the execution of hedging commodity trades with London Metal Exchange brokers
  • Undertake dealings in foreign currency with local and international banks for managing risk on foreign currency, CAPEX and operational requirements including rollovers to minimize financial risks
  • Engage with local and international banks to obtain Sharia compliant structures for financial risk management and funding requirements
  • Supervise the conduct of reviews to test compliance of financial procedures and processes against best practice, identifying control weaknesses in order to assess the risk profile

7.Hedging, Credit Risk and Insurance

  • Liaise with banks and financial institutions to ensure adequate liquidity at optimal cost and cash management requirements
  • Liaise with banks and credit risk insurers to structure innovative solutions to mitigate credit risk on open account customers portfolio.
  • Liaise with insurance advisors to ensure adequate protection of company’s fixed assets and employers liability in relation to cargo, public and product and business interruption.
  • Advise the customer on solutions to hedge against financial risk on commodity prices
  • Function as Secretary to the Hedging Committee (comprising GCEO, Chief Operations Officer, Chief Finance Officer and CEO – Metals) and provide advice on hedging strategies for commodity and FX/interest to ensure the company is protected against all treasury risks
  • Evaluate the financial risk on metals price and ensure appropriate documentation and controls to execute trades on the London Metal Exchange (LME)
  • Prepare Group Liquidity forecast to proactively highlight any funding gaps.
  • Present Group Liquidity position on a quarterly basis to the executive management and Board. Timely updation of Bank Mandates including updations on banking portal.

8. Banking Relationships

  • Negotiate new financing structures to protect against liquidity risk at optimal cost
  • Negotiate banking facilities and financing structures to manage key financial ratios with focus on balance sheet optimisation structures.
  • Expand the banking channels in order to create an optimal matrix of banking facilities

9.Annual Audits

  • Respond to ‘ad hoc’ queries in the annual audit process

10.Reports

  • Present all Treasury department reports including risk positions, Liquidity and Insurance coverage as required.
  • Provide Chief Finance Officer with accurate and timely Treasury performance reports, as required.

Minimum specifications for the Job

Essential : Degree in accounting with a professional accounting qualification such as CA or CFA. Good understanding of International Accounting Standards

Desirable : A master’s degree in finance or an MBA-finance. Good working knowledge of financial instruments and markets, particularly derivatives, and computerized accounting packages e.g. risk management software

Job Skills: Finance and treasury management skills, excellent communication

Behavioural Competencies : Leadership, strategic thinking, transparency, integrity, professionalism, caring & supportive style, passion for excellence, change management orientation

Experience: 10 to 12 years of professional experience with at least 6 years in a relevant functional management role as Head of Treasury in an industrial and ERP environment

Company: Dubai Cable Company – Ducab

Vacancy Type: Full-time · Mid-Senior level 

Job Location:  Dubai, United Arab Emirates

Application Deadline: N/A

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