Purpose : The position occupies a central role in treasury and leads planning, liquidity management & reporting division along with handling listed capital market instruments.
The position has its reporting to the Head of Treasury & Corporate Finance and is responsible for leading and controlling multiple treasury functions.
The position is responsible to : Identify and assess Company’s liquidity and financial risk, identify the financing requirements and accordingly drive the financing strategy of the Company while maintaining the desired Capital structure, taking into account any limits / benchmark fixed by the board.
For the same purpose acts as a controller for detailed Cashflow modelling, its budgeting & rolling forecasting. Monitor Company’s liquidity position for meeting working capital requirements of the Company and supervise daily fund management process, ensuring effective and timely utilization of available limits, explore opportunities of short-term money market deals along with resolving any conflicts / disputes arising with the banks and DFIs.
Lead, arrange and act as project manager for the listed Capital Market instruments such as Sukuk including its Pre-IPO and IPO process, through close coordination with the Regulators (SECP & PSX), Capital Market Investors, Structuring Agents, Shariah Advisory Board, Financial Consultants along with planning & managing the marketing and placement of such instruments.
Handle and diplomatically manage sensitive issues in relation to driving the strategy and planning Company’s strategic fuel reserve through communication / correspondence with fuel suppliers as well as effectively presenting KE’s narrative / stance for public information through close coordination with senior management / leadership, business operations and internal / external legal counsels.
Ensure compliance of treasury accounting as per the IFRS; to manage and review treasury reporting along with presentations to leadership, senior management, Board of Directors and financial investors.
Education : Member of any local or international professional accounting body or master’s in business administration with at around 10 years of relevant experience Knowledge : In depth understanding of all segments of business and Company’s operations along with Company’s tariff structure Strong understanding of Banking operations and norms Understanding of different forecasting techniques and the budgeting process Detailed understanding of the process for arranging IPO and listing of debt instruments along with knowledge of applicable rules and regulations Knowledge of SAP systems Profound knowledge of Accounting and financial reporting standards, Income Tax, Sales Tax and NEPRA Experience :
Strong background and knowledge of treasury functions including required skill set for cashflow planning and forecasting, cash / fund management, risk management, treasury accounting, issuance of debt instruments etc.
Broad banking experience with understanding of operational banking requirements
Expertise of arranging IPO and knowledge of related regulatory requirements for listed capital market instruments
Consistent track record of organizational skills, strong people and communication skills
Confident in presenting to senior management
Experience of influencing and building collaborative relationships with external stakeholders such as fuel suppliers, IPPs and legal counsel and stakeholders within the Company
Ability to work in a dynamic, fast moving setting while adhering to strict guidelines related to company policies and to stringent timelinesAreas of Responsibilities : 1 Risk Assessment, Planning and Cashflow forecasting 40%
Continuous monitoring of the cashflow position of the company to identify liquidity and financial risk of a potential funding shortfall and analysing the impact through sensitivity analysis / scenarios and devising a plan to mitigate the risk for onward proposal to the functional head.
Monitoring the overall liquidity situation of the Company to identify any impact / risk with respect to any regulatory / governmental decisions, changes in market and key variables affecting the future cashflow position of the Company.
Monitoring and facilitating gathering of data & financing requirements from across the Company as part of the exercise for preparation / updating of rolling cashflow forecast and ensuring accuracy of information along with resolving any related issues with internal stakeholders
Reviewing and ensuring maintenance and updating rolling cashflow forecast with key variables such as forex rates, KIBOR, Brent, Sentouts, RR, T&D, financing timelines etc.
2 Leading and arranging Issuance / Listing process of Listed Capital Market instruments 15%
Managing to timely conclude bank’s due diligence process for the appointment of structuring agent
Reviewing and arranging signing of legal agreements with structing agents, advisory board, trustee and external legal counsel
Reviewing and circulation of IM (Information Memorandum) to potential capital market investors
Engaging with potential investors to provide satisfactory responses as a part of their risk assessment process
Ensuring compliance with applicable rules and regulations as well as ensuring completion of documentation for condition precedents for draw down
Evaluating of multiple consultants and market makers to the issue for final selection
Communicating with Regulatory bodies (PSX and SECP) for obtaining regulatory approvals along with ensuring timely submission and completion of their requirements 3 Company’s liquidity and Working Capital Management 15%
Supervising and monitoring the daily funds management process to analyse and keep track of company’s current liquidity position for daily financing decisions
Reviewing daily funds position based on the data collected from different banks and daily working capital requirements.
Reviewing the RTGS plan and ensuring that the plan is based on cost effective utilization of funds.
Supervising timely completion of inter-bank funds transfer process and resolving any issues with the banks
Supervising and monitoring the timing of Company’s Capex requirements in comparison to the expected inflows and planning / managing timing of Capex outflows through an effective plan to maintain a healthy cashflow position.
Deciding the financing facilities based on the analysis to achieve maximum saving in finance cost 4 Handling Issues with Fuel Suppliers for Strategic FO Inventory & supervising payments to Fuel suppliers & IPPs 10%
Controlling and managing maintenance of adequate levels of Furnace Oil inventory level considering its impact on cashflow and financing cost of the Company, through close coordination with fuel suppliers, plant and generation team
Handling and diplomatically managing issues and their resolution with fuel suppliers considering their sensitivity on a regular basis related to supply, operations and pricing.
Managing and reviewing communication and correspondence with fuel suppliers (Furnace Oil) including communication on supply and payment disputes after due coordination with internal / external legal counsel.
Coordinating and reviewing KE’s narrative and stance with respect to the issues related to furnace oil supply with internal departments for publishing it externally to public.
Liaising and coordinating with senior management including generation and LDC departments to define the strategy for the forecasted Furnace Oil level that needs to be maintained in line with the future load shed strategy of the Company
Planning and communicating current and future Furnace Oil requirements of the Company to Ministry of Energy and relevant fuel suppliers to ensure availability of Furnace Oil.
Reviewing the daily orders placed with PSO & BYCO 5 Treasury Reporting & Accounting 10%
Supervising and reviewing computation of treasury reporting such as Finance Cost and weighted average cost of borrowing for all financing facilities on monthly basis including complex foreign currency loan and hedging transactions.
Reviewing reasons for the variances as compared to budget for presenting to senior management and leadership
Reviewing and supervising timely preparation and circulation of Monthly Management Report (MMR), Monthly report to KES Power Board, and other reports required by leadership and / or Board covering updates on financing initiatives, cash flow and finance cost variances, trend of financing utilization cost, and key market indicators.
Supervising the internal and external treasury reporting, primarily to NEPRA, banks, leadership and internal departments and ensuring accuracy and consistency in the information provided
Reviewing the accounting treatment of entire treasury function in accordance with International Financial Reporting Standards and approving accounting entries in SAP with close coordination with financial reporting team