Job Description

SASA- Banking & Treasury Accountant

The South African Sugar Association (SASA) has a permanent vacancy for a Banking & Treasury Accountant, based at Mount Edgecombe, KwaZulu-Natal.

The Finance and Administration division forms an integral support division that ensures the responsible custodianship of budgets and resources made available to SASA by the industry. It provides expert and comprehensive support services required by the SASA divisions such as centralised financial processing, payroll, procurement. financial reporting, taxation, banking and treasury services.

The Treasury is a part of the Finance and Administration division responsible for:

Duties and Responsibilities:

• Cash flow and liquidity requirements, external borrowings, investments and loans.
• Hedging of the industry's foreign currency export exposure
• Industry financing in terms of the industry's statutory requirements.
• Market related risks such as exchange rates and interest.
• Key banking relationships to negotiate banking facilities.
• Ad-hoc expert financial and treasury services to SASA divisions and the industry such as reviewing major financing decisions, internal financing arrangements etc.

This unique position will put you at the heart of both SASA and the decision-making processes of the sugar industry partnership between the growers and millers. It will provide you the opportunity of applying your financial, banking and treasury skills.

The work requires an individual who is comfortable working in a regulated banking and treasury environment and also enjoys the challenge of administrative duties. A person with good stature who is comfortable dealing with senior management and who likes to work with established procedures and regulations and pay close attention to detailis needed.

Reporting to the Finance Director, the main purpose of this position is to perform the role of a Treasury and Banking Accountant. The key objectives of this position together with the assistance of a Treasury Planning Officer are as follows:

Management of Treasury Process

Manage the treasury process by ensuring that it is regularised and effectively manages SASA's working capital requirements, liability management and exposure to market related risks, such as currency and interest rate risks:

Management of Treasury Process

• Manage the treasury process by ensuring that it is regularised and effectively manages SASA's working capital requirements, liability management and exposure to market related risks, such as currency and interest rate risks:

Banking and Liquidity Management

• Perform banking services for domestic and international bank accounts, this includes Citibank, the farms and the bank accounts of subsidiary companies.
• Maintain online banking systems with the various banks including user maintenance.
• Manage the daily local and foreign cash and liquidity requirements estimated at R15 billion per annum.

Industry Financing

• Assume responsibility for statutory industry financing arrangements by ensuring that adequate financing is available to the industry for carryover and working capital requirements.
• Processes annual carryover, storage and redistribution payments to millers as required in terms of industry legislation.

Banking and Banking Relationships

• Management of key banking relationships with the lender group, domestic and international banks to negotiate banking facilities.

External Borrowings, Investments & Loans

• Manage external borrowings, internal and external investments and internal loans.

Secretariat and Compliance

• Ensure SASA's compliance with FICA, Reserve Bank and Bank Act requirements applicable to SASA, with the assistance of the Governance and Compliance team.
• Perform the role of secretariat to the Treasury Committee.

Hedging Mandates

• Assist in Managing the industry's foreign exchange exposure by executing hedging mandates estimated at USD 230 million.
• Preparation of USD exposure schedules for the industry's export exposure
• Monitor the Industry's USD exposure and ensure adherence to contract execution dates.
• Presentation of an economic update to Industry Stakeholders
• Manage the industry's interest rate risk exposure by daily call loan monitoring and formulating and executing hedging mandates.

USD Cash Flow Management:

• Assist in Managing the Industry's Offshore

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