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Graceco Nigeria Limited is a food processing and manufacturing company which specializes in consumer goods and the production of input for bakers and the confectionary industry.
Location : Alagbado, Lagos
Report : Director, Finance and Administration
Sourcing of funds required for the Company's operations at optimum prices and lowest risk and managing relationships with Financial InstitutionsProtecting the Company's margins through reduction in Net Financing costs and maximizing income / Earnings on liquid assetsManaging the Treasury back office and support operationsCoordinate the existing treasury team.
Sourcing of funds required for the Company's operations :
Preparation of a daily summary of the company's Financial positionFor short-term shortfall in financing, arrange funds using either bank loans, bank overdraft, leases, issuance of Commercial papers, or other Financial instrumentsDaily follow up to ensure the conversion of all Receivables into CashFollowing up with Accounting for invoicing of goods to clientsPreparation of Cash Flow Forecasts for weekly and monthly Cash Inflows and OutflowsImproving the company's funding profile and capital efficiency and Source Long Term funds for Long Term projectsPreparation of Debt analysis and a schedule of all bank overdraft and loan facilities
Managing relationships with Financial Institutions and sourcing of funds at optimum prices and lowest risk :
Sourcing of foreign currencies at optimum prices and lowest riskSourcing of funds at optimum prices and lowest riskImproving the Company's margins through reduction of the Net Financing costsImproving the company's funding profile and capital efficiencyDaily, monitor transactions in the company bank accounts and review daily bank statementsMonthly, preparation of bank reconciliation for all current and facility accounts
Protecting the Company's margins and assisting management achieve its Earnings objectives :
Liaise with Procurement and Logistics and facilitate prompt payment to Suppliers of goods and servicesFollow up with banks for timely opening and transmission of LCs and Bills for Collection for importsProtecting the company's margins through control and reduction of Finance costsDrive rigorous and disciplined tracking of Cash Flow against targets with closer monitoring of gaps on weekly basis and encouraging faster reaction to promote a culture of disciplined financial management across the organizationComputation of Interests due on client's delayed settlement of invoices and loansChecking the accuracy of Interests and other bank charges in bank statementChecking the accuracy of Investment income computed by Financial Institution
Management of investments in liquid assets, stocks and shares in private and public companies :
Ensuring prompt investment of surplus funds in available Financial instruments at optimum income and lowest riskMonitor share prices in the market and advise Management / Stock broker on purchases or disposalsFollow up with Financial Institutions to ensure prompt receipt of investment income when due
Managing the Treasury back office :
Ensure that all funds are appropriately bankedEnsure that Customers accounts and the Company's bank accounts are updated daily with Credit Alerts received for bank transfers by CustomersCommunicate all inflows to Management on daily basisScheduling and organising prompt payment of Suppliers invoices and providing weekly information on disbursementEnsure control and verification of all Cash transactions and conduct surprise Cash Count in all locations where the company is maintaining Cash Float
Making recommendations to management on observations in the course of reviewAny other responsibility as may be assigned by the Finance & Control DirectorProvide leadership for the Treasury team
Requisite Qualifications / Experience
evidence of career progression needed
Required Skills / Attributes :
Good oral and written communication skillsGood interpersonal skills, people management and negotiating skillsKnowledge of financial management in manufacturing sectorStrong sense of professionalism, integrity, and sound judgment and tactHigh level of sincerity and honesty with pragmatic and proactive approach to businessAbility to maintain confidentialityProficiency in the use of Enterprise wide Accounting Application such as ERPNext, SAGE or SAP, Ms Office packages and Power Point Presentation.
Required knowledge :
International Financial Reporting Standards (IFRS) as published by IASBFinancial Reporting Council of Nigeria Act, 2011CBN monetary guidelinesBankers TariffPensions Reforms Act 2014Fiscal policy guidelines as rolled out by the Fed.
Ministry of Finance from time to timeGlobal best practices in Treasury management.
Job Summary / Details
The Graduate Trainee Program will run for 12 months and upon completion, successful applicants will be assigned a role in our logistics department.
Job location and working hours : The position is located at Alagbado Lagos, Nigeria. Working time is normally between 7 : 30am-
5pm Mondays to Fridays and 8 : 30am to 3pm on Saturdays.
Work in different departments to gain perspective and experience.Apply academic learning to the workplace environment.Participate in project teams to achieve work outcomes.
Work with and through management to develop and implement actions that protect company assets and profitability.Work with other managers to plan and direct the work of the organization.
Maintains confidentiality of information ensuring that top secret ideas are accorded the confidentiality they deserve.Learning staff functions, management view points, company policies, practices and operations which are significant in the proper functioning of the organization in the corporate world.
Monitoring the progress of performance with trainers and management as per the requirement of the organization.Acquiring knowledge of all the standards, procedures and methods that are needed for departmental duties and performance.
Receiving training in operations and functions so that successive transferability between other departments is carried out properly by the graduate trainee.
Perform other work related tasks as required.
Qualifications and Experience
Applicant should have a Bachelor's degree in Food Science and Technology.Applicant must be a fresh graduate residing in Lagos State.
Applicant must have graduated with at least second class upper in a reputable university.Applicant must be a stickler for accuracyApplicant must be proficient in Microsoft Office (excel, word and PowerPoint).
Preference will be given to candidates living within Ikeja, Agege, Abule egba, Ipaja, Alagbado, Otta and immediate environment.
You will need to show : Business skills - ability to manage budgets, lead team and liaise with suppliersReadiness to learn new skills and technology.
The ability to work cooperatively and liaise with people at all levels.Good diagnostic and problem-solving skills.The confidence to respond positively when under pressure.
The ability to negotiate with, and persuade othersThe ability to lead and motivate othersPeople management skills, high level of initiative and self-
management skill.Good verbal and written communication skills.
Method of Application
Applicants should forward their Resume to :
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