Manager, Treasury

Overview

Oversee treasury operations, cash management, FX, bank guarantees, and financial planning.

Key Responsibilities

• cash management
• bank guarantees
• cash forecasting
• risk management
• budget planning
• performance reporting

Tasks

-Develop knowledge, competencies and innovative spirit in the Department and support the establishment of Personal Development Plans (PDP’s), Succession Planning and Talent pipeline within the Department in coordination with the Human Capability Group to continuously develop employees with emphasis on UAE Nationals to meet Emiratization targets. -Manages the preparation of statement of funds requirements for major payments based on the request for Accounts Payable function. -Contribute and support establishment of a Corporate Integrated Risk Management System within the Department, while identifying and assessing relevant domain risks and implement measures to manage and mitigate all identified risks within the Department. -Work with Shareholder Treasury representatives to formulate and implement the financial planning, procurement, and investment of funds for the company, including the establishment of risk parameters. -Support the institution and implementation of an HSE culture and ensure compliance with relevant HSE policies, procedures, systems & controls and applicable legislation and sustainability guidelines across the Department in line with international standards, best practices and ADNOC Code of Practices. -Reviews all the cash fund authorization including receiving and deposit of cash and cheque payments, maintains the imprest account and Bank cheques. -Manages and supervises high valued Bank Guarantees related to the Major Projects in line with the project agreement and terms & conditions. -Manages the compilation of the annual and monthly cash requirements on the basis of information received from various functional units and supervises the preparation of related forecasts. -Directs, manages and supervises all activities related to Bid Bonds & other Bank Guarantees. -Manage bank reconciliations in order to ensure accuracy and resolve any variances/outstanding items. -Develop consistent and realistic long and short term operational plans for the Department in line with the Division objectives and manage the implementation of the approved long and short term plans and ensure they are effectively converted into its performance objectives to realise the Division Objectives and established service levels. -Manages communications between the contractors/vendors on submission of new bank guarantees including Major Projects and to evaluate discrepancies, if any, as per procedures. -Controls utilization of funds including constant review and analysis of the variances between the forecasts and actual performance. -Ensure that all Department MIS and progress reports are prepared to provide accurate and timely reports and necessary information to Company Management to effectively manage the business. -Ensure adequate HSE training and induction for all Department employees to meet HSE standards. -Contribute to the development of the Division’s KPI’s and ensure proper cascade of the Performance objectives within the Department and establish monitoring mechanisms to ensure delivery of these objectives and promote a performance driven culture. -Monitors, forecasts and recommends to the management corporate cash fund flows/cash call schedules and accounts balances. Administers the cash call funds in accordance with approved policies. -Approves the up-to-date list of Foreign Exchange Rates that are maintained by all Divisions/ Departments. Ensures that foreign exchange transactions are made appropriately as required by the corporate Entity at the best possible rates and monitors compliance of Treasury policy regarding foreign risk. -Monitors and ensures that all financing activities comply with all legal, contractual and regulatory requirements in order to protect the company position. -Evaluates Modifications/Cancellation of Cash Fund requests and discusses with concerned division/dept. the needs and justifications, if necessary. Evaluates and verifies the approved new cash fund in case of establishment/increasing of the cash fund and transmits a copy to the Accounts Payable for disbursement. -Establishes and maintains good working relationships with key external parties relevant to the Treasury, such as bankers and financial institutions while ensuring the Company identity is safeguarded and information disclosure is carefully monitored. -Monitor expenditure against approved Department budget on a regular basis; investigate, highlight and reconcile any significant variances to ensure effective performance and cost control. -Manage the implementation of the Company Performance Management System for individuals within the Department in accordance with Company approved guidelines. -Manage the company’s cash (including foreign exchange transactions) and associated records, cash calls etc. in order to ensure effective handling and availability of cash required for operations. -Ensures that the process of reviewing, safekeeping and negotiation of Letters of Credit in favour of company is efficiently administered -Communicate corporate business ethics and Company’s Code of Conduct to employees within the Department and ensure compliance to the Corporate Policies and guidelines. -Lead the preparation of cash flow projections to facilitate the planning for adequate liquidity to meet major financial requirements of the company. -Recommends to the senior management any changes regarding bank accounts and their authorized signatories, including opening and closing of accounts and, addition and deletion of authorized signatories. -Develop and implement appropriate Department policies, processes, systems, standards, procedures and internal controls, Company guidelines in order to support execution of the Division’s work programs in line with Company and International standards. -Review, develop and recommend the appropriate organisation structure for the Department that will best utilise human capital while proactively incorporating sustainability into the on-going work practices to meet the business objectives. -Manages and supervises the maintenance of the Bank Guarantee Management System to track all garantees received by Finance Division. Ensures that Bank Guarantees received are in compliance with company’s policies and that the process of receiving, safekeeping and release of Bank Guarantees is efficiently administered. -Develop and manage the Department annual budget in line with the Division’s business objectives and operational plans ensuring that adequate funding provision is made for all Department activities. -Manages and monitors daily cash transactions and balances to meet company requirements. -Manages the evaluation of requests for the establishment, increase or decrease, or closing of petty cash funds for the company and provides recommendations as how to improve cash fund management. -Promote an organisation culture that encourages innovation, enhances employee motivation and supports initiatives for implementation of Change Management to continuously improve the Department operations and services.

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About Adnoc Group

-It pursues multi-billion-dollar developments: upstream oil & gas fields, world-scale refineries like Ruwais, and petrochemical hubs. -Offshore operations are among the world’s largest, spanning nine fields, artificial islands, and deep subsea projects. -A major LNG and gas processor, it exports liquefied gas globally while supplying domestic power, water, and industrial users. -Subsidiaries include refining, drilling, distribution, shipping, trading, industrial gas, fertilizers, polymers, and city gas. -Investments span hydrocarbons, petrochemicals (via Borouge, Fertiglobe), and international ventures like Covestro and Santos. -It’s building thermally integrated mega-sites, pioneering subsea power grids offshore, and running the fourth-largest single-site refinery. -It’s emerging as a global chemicals and LNG trader through XRG and public listings on the Abu Dhabi exchange. -Despite its scale, it quietly made history: offshore carbon-cutting grids, subsea power, mega-ammonia & fertilizer units, and polymer giants.

Sector Specialisms