Job Description
Provide analytical and administrative support to Treasury’s functions of financing, taxation investments, risk management and / or repatriation, banking and operations.
This includes research, analytical reviews and recommendations, regular management reporting, MIS automation, accounting and compliance support, IT support and coordination of Treasury?s back office activities.
Duties and Responsibilities
Your main responsibilities in this role include the following:
Support respective section heads in day-to-day functions of Corporate Treasury.
Ensure that the Treasury Management System is utilised efficiently by all the users in Group Corporate Treasury.
Proactively train users for operating treasury systems.
Recommend improvement in Treasury processes, systems and MIS related to financing, risk, investments, tax and treasury functions.
Ensure section KPIs and other performance and risk measures are achieved and maintained.
Support Treasury Risk Management in providing periodic reports to SVP - Corporate Treasury (CT), EVP - Service Departments (SD) and the Presidents relating to investments, banking, currency and interest rate Risk Management Programme’s performance.
Provide back office support in terms of maintaining reliable records of open and closed swaps, manage FX and IRS settlements, bank transfers, aircraft related payments and confirmation matching.
Provide accounting and Treasury Systems support updating TMS with rates, FX and volatility, test hedge effectiveness every quarter, run general ledger (GL) interfaces, deal with GL reporting requirements and assist in year-end audit disclosures.
Support Treasury Manager (Operations) in performing counter-party credit analysis and provide awareness of key credit risks to treasury leadership team.
Support Financing section in providing monthly / quarterly reports to SVP - CT, EVP - SD and the Presidents relating to current / future financing cash flows, debt positions, etc. These include Cash Flow, Corporate Treasury ? Quarterly Report, Future Financing requirements, etc. Assist in providing audit compliance reports to the external auditors.
Provide back office support in terms of maintaining reliable records, managing contractual payments, keeping track of key contractual milestones, ensure internal treasury systems are up-to-date, coordination with GL for accounting financing transactions and liaising with the external to resolve any queries they may have.
Monitor on-going debt service requirements under various financing facilities and ensure that payment instructions are issued on time (many of which once contractually committed are not subsequently triggered by routine invoices). Also, all credits to be tracked and ensured received on timely basis as contracted.
Provide ongoing 'after care and maintenance' in respect to aircraft purchase agreements including management of pre-delivery payments, mile-stones and manufacturer credits. Key requirement is to be familiar with the financing outline of each aircraft in our portfolio and critical dates during the term of the facility. This would include ensuring that aircraft financing structures are accounted as per IAS (International Accounting Standards) on delivery as well as subsequent changes.
Prepare annual budgets, forecasting / re-forecasting, long term plan projections, cash-flow, disclosure requirements on key financial measures, year-end annual report disclosures, presentation on group performance and other aspects of airline business / other market information based on the audience which include investors, banks, government agencies, leasing companies, aircraft manufacturers, etc.
Provide support for tax compliance, filing, and appeals processes. Review all outstation tax computations before submission to ensure accuracy and correctness and most tax effective presentation under the tax laws of the relevant country. Work with GL in reviewing and reconciling corporate tax provisions and support tax audit compliance process. Co-ordinate with outstations and Group companies on specific tax issues, tax notices and summons.
Carry out annual circularisation on tax status to outstations. Collate, review and report on taxes including Value Added Tax (VAT), Goods and Services Tax (GST), sales, consumption and service taxes etc., by country, across the network. Support in handling review of tax clauses in contracts of various EK and dnata departments and group companies. Assist in research for tax and VAT issues across the network. Work with FAMs to review VAT recovery processes and ensure that such processes are put in place, where applicable and any compliance issues are addressed.
Handle registration of Emirates Group offices across the network. This involves research on corporate registration, aviation and tax laws, liaising with IATA on registration, tax and repatriation requirements and coordinating with external consultants to complete tax effective registration. Work with our internal Legal department in completing documentation requirements for corporate and tax registration. Coordinate with OF&RM and station FAMs on tax regulatory requirements and tax set up for new stations.
Support Manager Treasury (Operations) in management of group-wide bank accounts which includes account opening/closing and bank mandate updates. Recommend and complete International Currency Clearance (ICCS) account opening formalities with IATA where required and expedient
Support Manager Treasury (Operations) in administration of banking platforms including signatory setups in line with bank mandate and correspondence with respective banks for platform support and in-house training.
Document and maintain policies and operational procedures relating to the different functions within Corporate Treasury and ensure compliance against it. Also maintain Treasury Systems training manuals to be used by all corporate treasury users.
Conduct periodic review and analysis of bank charges and advise ways to optimize this cost.
Support the project management office within corporate treasury and lead delivery of projects and new initiatives within time, scope and cost.
Coordinate with IT and software vendors to help support the department in terms of all systems, TMS, trading platforms, interfaces, DMS and workflows etc.
Support Treasury Risk Management in monitoring global financial markets and developing periodic reports to SVP - Corporate Treasury (CT), EVP - Service Departments (SD) and the Presidents relating to currency and interest rate Risk Management Programmes performance and exposure analysis. This includes technical analysis reports for major currency pairs and other asset classes.
Support Treasury Risk Management in trading Foreign Exchange transactions (spot & hedges), and Interest Rate Swap (IRS) deals with counterparties giving due consideration to best pricing and long term relationships and in line with the Treasury Policy.
Prepare deals details, obtain debt profiles and related information from Operations and Aircraft Financing teams, price instruments in Bloomberg/Reuters, requests for bids from banks and captures deals in systems. Ensure efficient deal administration for FX and interest rates hedging programmes and timely provide a handover of deals and related documents to Treasury Operations team.
Support Treasury Risk Manager in developing projections for annual, semi-annual and monthly net retention in various currencies, conduct timely analysis of actual cash flows versus forecasted cash flows, report variances to Treasury Risk Manager and respective business units and FAMS; incorporate changes in the forecasting process, as necessary.
Manage the process of bookkeeping rates and revaluation rates for the Group on a monthly basis. Provide Foreign exchange and interest rates forecasts from Reuters, Bloomberg, relationship banks and researches to EK Treasury and business units, dnata and the Group subsidiaries.
Where Head Office is not directly involved in Spot conversion business, ensure that Finance and Accounting Managers (FAMs) across the network have enough guidelines to bid currencies to most competitive counter party.
Develop and maintain effective relationships with all internal and external stakeholders. Internal stakeholders are GL, Outstations Finance and Risk Management, Accounts Payable, Payroll, Cashiering and FAMs. External stakeholders are various relationship banks, PwC, Internal Auditors and Government Auditors.
Support Treasury Risk Management in providing periodic reports to SVP - Corporate Treasury (CT), EVP - Service Departments (SD) and the Presidents relating to liquidity management.
Ensure that efficient cash planning is put in place with funds made available to honour all the Group’s obligations in a timely manner, and that no accounts are overdrawn unnecessarily. Analyse short term and long term cash surpluses and related interest income profile and invest on an on-going basis.
Monitor FX cash flow forecasts, analyse and report regularly on FX cash surpluses at HO and station, identify cash balances build up and repatriation delays for corrective action. Prepare weekly blocked funds reports and analysis.
Manage fixed income investment for the Group and trading Foreign Exchange transactions (spot and hedges), with counterparties giving due consideration to best pricing and long term relationships and in line with the Treasury Policy.
Evaluate investment proposals and other proposals for bank facilities, letters of credit, bank guarantees, corporate credit cards and work with respective Finance Managers to get the facility in place.
Prepare rolling cash flow forecasts (monthly, quarterly, annually and on a rolling 5-year basis) for Emirates, dnata and Group subsidiaries for circulation at SVP, EVP and President level, highlighting expected balances and identifying any potential surpluses / shortfalls. Carry out timely reconciliations of actual cash flows versus forecasted cash flows, report variances to Treasury management and incorporate changes in the forecasting process, as necessary.
Where Head Office is not directly involved in Spot conversion business, ensure that Finance and Accounting Managers (FAMs) across the network have enough guidelines to bid currencies to most competitive counter party.
Develop and maintain effective relationships with all internal and external stakeholders. Internal stakeholders are GL, Outstations Finance and Risk Management, Accounts Payable, Payroll, Cashiering and FAMs. External stakeholders are various relationship banks, PwC, Internal Auditors and Government Auditors.
Treasury Operations (Risk)
Treasury Operations (Financing)
Taxation, Govt. Liaison and Regulatory Affairs
Banking, Systems and Procedures
Treasury Risk Management (Risk Management)
Treasury Risk Management (Liquidity)
Job Requirements
UAE Nationals Only
Degree or Honours (12+3 or equivalent)
Finance & Insurance.Treasury 5+ Years
University degree with a major in Finance.
Experience of professional experience in Finance within a large corporation or financial institution, preferably within a commercial Treasury department.
Knowledge of financial markets and technical analysis.
Strong analytical background.
Excellent communication and interpersonal skills.
Expert knowledge of Excel and other office automation software.
Job Details
Company/Organization: Emirates
Employment Type: Full-time
Job Location: Dubai, United Arab Emirates
