Job description / Role
- Position title: Senior Accountant – Treasurer – Debt Management Grade: D- C
- Reports to: Manager – Treasurer
- Department: Finance
- Function: Finance
- Prepared / Revised on: 4 July, 2018
- Planning, & Executing finance strategies related to Debt Management activities for Treasury at Orpic under the scope of the Manger of Treasury; through
- The administration of the treasury operations in respect of debt and capital market management,
- Responsible for the preparation, analysis and reporting of the five year strategic finance plan
- Manage the administration and application of all Orpic finance facilities
- Ensure that Orpic adheres to all terms, conditions and restrictions in all its finance facilities and is in compliance at all times with all related covenants
- Monitor, comply and report on all Orpic’s facilities’ covenants
- Ensure all debt and capital related transactions are completed in a timely and accurate manner (e.g equity cash calls, debt drawdowns, principle payments, interest payments, fees related to facilities
- Protect Orpic’s assets and liabilities through the implementation of interest rate hedging and report on the performance of the hedges to management on aperiodic basis
- Look for optimal solutions to debt management and reduction of finance costs and the company’s overall cost of capital (9)
- The fulfilling and coordination, with Financial advisors when available, of the department financial reporting requirements such as Debt & Capital Management, Loan & Finance Cost Reports,
- Monitoring the tasks performed by the designated accountants,
- Monitor, manage and report on treasury risk
- Manage the tasks performed by the designated accountants and their development in treasury skills, to ensure the availability of funding to cover all Orpic’s obligations while securing the timely and accurate generation of all required reports.
- Senior Accountant - Treasury - Debt Management position will act in accordance with Orpics’ values & strategies, policies, guidelines, technology platform, HSE standards, Omani’s government & other legal justification’s, and best international practices in consonance with national objectives.
- Dimensions: Financial Dimensions: CAPEX: - Nil
- OPEX: - Nil
- No. of Staff Supervised: 1 – 2
- Description Key Performance Indicators
Deliverables - Debit Loans
- Prepare, analyse, and report the debt management contribution to the fiver year Strategy Finance model and report
- Manage Orpic’s debt position and work with the Manager of Treasury to complete the process to close a facility agreement for Orpic’s debt
- Manage the shareholder equity cash calls, shareholder loans & contributions requests by following Orpic policies and processes
- Manage the drawdown of facilities and ensure there is sufficient liquidity at all times to meet funding needs for ongoing projects on time
- Ensure that there is always sufficient liquidity to repay debt and make interest payments on time and accurately
- Ensure that all payments made/received in terms of equity, debt, capital markets, interest payments, finance costs, etc are accurately recorded in SAP as well in financial reports
- structure financing solutions for existing debt facilities and new funding requirements that are in line with Orpic strategy and policies analyse and develop opportunities to optimise Orpic’s finance costs
- Assist the Treasury Manager in executing the closing of a facility agreement ensuring that all conditions, both precedent and subsequent, are met
- Ensure all debt related payments (e.g. cash calls, drawdowns, repayments, interest, coupons, etc) are made on time and accurately prepare interest rate hedging opportunities to be present for approval and work with management to execute approved hedging transactions and report on the performance of ongoing interest rate hedges
- Provide monthly reports on Orpic’s debt position and report on performance against the funding strategy and highlight trends, risks and concerns to management
- Provide monthly reports on Orpic’s covenant requirements and ensure that all finance transactions are done in compliance with the covenant conditions and the terms and conditions in the loan facilities. Monitoring, management and reporting of treasury risk
- Coordinate and respond to all queries relating to debt and equity management from the banks, lenders, auditors, tax and other stakeholders
- Review and update the policies and procedures related to Treasury debt management
- Develop the accountants in the team with best practice process and procedures and treasury experience and knowledge
- Contribution to the five-year strategic finance model and report is completed and reported accurately and in a timely manner
- Ensure that Orpic maintains an optimal debt position and has a clear debt management strategy
- Ensure that shareholder equity is requested and funding is received in a timely manner
- Ensure that draw down of debt is completed in timely manner and accurately by ensuring that all drawdown conditions are met and Orpic follows the facility terms and conditions at all times
- Maintain and report debt and equity report and work closely with the cash management team to ensure that Orpic is sufficiently funded to meet its obligations in a timely manger
- Ensure that all equity and debt raising is accurately and completely reported in SAP and in the company financials
- Analyse, with the assistance of advisors if needed, and present financing opportunities/solutions to management for consideration
- Execute and complete the closing of financing agreements in a timely manner
- Execute and report debt and capital market transactions and interest payments on time and accurately
- Execute and report interest rate hedging reports on a periodic basis to selected stakeholders
- Develop opportunities to optimise finance cots and income
- Deliver debt management reports in a timely manner and accurate and complete
- Respond to ad hoc request for reports and information in a timely manner
- Respond to all requests related to debt management in a timely manner and with accurate complete information
- Analyse, monitor and report on Orpic’s debt facilities’ covenants on a periodic basis in a timely manner
- Analyse monitor and report on Treasury’s risk management in a timely and accurate manner
- Orpic’s debt position (covenant & terms and conditions) are monitored and remain in compliance including finance costs and variance analysis are reported based on budget vs. & actual vs. business plan
- All treasury debt management related processes and procedures are updated and in line with Orpic policies
- Accountants are knowledgeable and skilled in treasury and finance skills
- Carries out the department strategy as implemented by the Department Manager. Align with the managed to ensure policy is review on an annual basis.
- Demonstrate leadership in the development of more junior staff.
- Provide accurate guidance to junior staff as required.
Budgets and Plans
- Provide input into budget preparations under the guidance of the Department Manager.
- Monitors the budget performance with the concerned budget responsibility holders. Gives accurate inputs to the Department Manager regarding the department’s expenditure
- Highlight red flags regarding budget overruns.
- Contributes to the integrity of the organisation structure through constructive feedback.
Policies, Systems, Processes and Procedures
- Contribute to improving processes and procedures within the department in conjunction with the Department Manager.
- Knowledge of internal and external processes essential to ensure continuity of workflow.
- Implementation of IFRS standards to prevail across the organisation
- Contributes to the systems request for change processes, master data and SAP control access.
- Demonstrates full knowledge of process & procedures.
- Successful implementation of approved policies and procedures including accuracy of financial statements.
- Provide input for system changes and liaise closely with the IT department.
Health, Safety, Security and Environment
- Adhere to HSE protocols and procedures
- Ensure all mandatory HSE inductions are completed.
- No HSE compliance breaches
- Continuous on-the-job application of the Orpic HSE routines
Office Equipment, Documentation & House Keeping
- Ensures appropriate processes are in place and actioned regarding the usage, maintenance and archiving of documents
- Ensure that the personal working space is kept efficient and clean.
- Ensure that all office equipment (computers etc.) is well maintained and adheres to company policy.
Zero non-conformance in the recording and filing of Orpic documents.
- Office equipment is well maintained in accordance with Orpic policy.
Performance & Development
- Initiates self-improvement plans and expedites learning through the participation in effective training programmes and other performance development opportunities.
- Contributes in delivery of department and function KPIs
- Follows through with agreed IDP program and individual KPI’s.
- Achievement of department and function KPIs through teamwork and collective effort.
- Contributes to the succession planning of Omani staff through mentoring and training as required by the department manager.
- Expedites effective mentoring and training of staff where required.
- Supports change in innovations, system processes and workflow improvements which lead to meet department delivery as guided by the Team Leader or the Department Manager. - Encourages a positive culture within the department toward change.
- Provide debt monthly reports to management
- Provide covenant monthly reports to management
- Provide reports on the ongoing hedging transactions and new hedging opportunity to management
- Provide the debt management contribution to the five-year finance strategy
- Provide ad hoc information and reports on debt management as and when requested
- Provides MIS debt related expenses monthly reports as required & projection of annual finance costs.
- Providing Finance Transaction Schedules.
- Accurate & timely monthly debt Report
- Accurate & timely monthly covenant Report
- Accurate & timely monthly hedging Report
- Accurate monthly MIS Finance Cost Report.
- Rolling monthly cash flow forecasting is made available to Manager of Treasury and the GM of Treasury
- Finance Transaction schedule as required.
Frameworks, Boundaries, & Decision Making Authority:
- This role reports to the Manager Finance – Treasurer and confers with the latter on critical and strategic issues.
- Key decisions having significant impact on this role are referred to the direct leader for approval before implementation.
Communications & Working Relationships:
- Internal: All Orpic Functions and Departments
- External: Bank, Investor, shareholders and 3rd Party contractors