Manager, Cash Management, US Treasury

The Company

Ranked as one of the largest petrochemicals manufacturers in the world, SABIC is a public company with its principal corporate offices and headquarters based in Riyadh, Saudi Arabia. 70% of the Company’s shares are owned by Saudi ARAMCO, with the remaining 30% publicly traded on the Saudi stock exchange. From its launch in 1976 by Royal decree, the company now has operations in over 50 countries with a global workforce of over 33,000 talented individuals.

The business is composed of four strategic business units; Petrochemicals, Specialties, Agri-Nutrients, and Metals. They support customers by identifying and developing opportunities in key end markets such as construction, medical devices, packaging, agri-nutrients, electrical and electronics, transportation, and clean energy.

The Role

Reporting into the Manager of European and U.S. Cash Management and Financial Trading, working with COEs and other stakeholders, this individual will coordinate the development of the America cash management function, manage the SABIC Capital 2 cash pool and facilitate informed treasury funding and investment decisions.

They will actively manage all regional bank accounts within the cash and liquidity structure, including all necessary credit facilities and work closely with the corporate and operational finance teams within Treasury.

Key Accountabilities

• Request for proposal and then the execution of the project to replace one of the Cash management banks in the Americas region
• Continuously improving cash flow forecasting quality and accuracy to drive idle cash down to a minimum, therefore minimizing borrowings and maximizing return on investments.
• Executing short-term investment strategy and actively contributing towards maximizing of yield on SABIC cash investments.
• Initiating and coordinating cash repatriation – dividend, capital reduction, loan repayments to maximize cash at center.
• Acting as a Treasury Cash Management Center of Expertise and share best practices with other regions or functions.
• Accountable for communication with the Banks, internal and external stakeholders or any regulatory bodies to be updated on financial regulatory framework / KYC – Know Your Customer and changes to cash and liquidity management related activities.
• Acting as a Treasury representative in the region for internal i.e., affiliates, CF functions, SBUs and external – banks and financial institutions, service providers and regulators for all Treasury related matters. Key go-to person for bankers for operational matters.
• Operationally managing trade finance products i.e., Letter of Credits and Bank Guarantees with relationship banks.
• Providing regional support for global and regional projects, such as M&A, growth related processes and others.
• Providing support in regional working capital improvement projects.
• Supporting business units and other stakeholders with respect to working capital related queries, proactively support businesses and driving working capital down to improve the cash position of the affiliates.
• Supporting the assessment and evaluation of the optimal bank relationship mix for SABIC in the region.
• Supporting the global Risk Management function in FX and counterparty exposure identification and providing in-depth knowledge about FX/Counterparty processes.
• Preparing/presenting Executive reporting for Senior Management and Global Treasurer.
• Supporting and coordinating the implementation of the regional policy and contributing towards global policy, manuals, and guidelines.
• Supporting policy setting for non-cash management related activities.

The Candidate

The ideal candidate will have a Degree in a relevant subject area such as Finance or Accounting, as well as detailed knowledge of cash accounting or an Accounting degree. They will have at least 6 years professional experience in treasury / cash management.

Additional experience in the following would be a distinct advantage;

• Expert knowledge of Cash Management / Treasury products and related technology
• Good knowledge of risk management i.e., FX, Interest Rate, Commodities and Counterparty Risk and business processes
• Knowledgeable with policies, procedures, and best practices in accounting
• Solid understanding of Treasury systems and SAP ERP systems
• Ability to understand and support organizational climate/culture alongside change management skills
• Experience with leading global virtual teams and able to lead and coach staff in accomplishing interdepartmental tasks
• Strong stakeholder management, people management as well as leadership and interpersonal skills
• Excellent communication, presentation, quantitative and analytical skills
• Strong intercultural awareness
• Ability to identify innovation outside the box

How to apply

To be considered for this opportunity, please email your Resume to Mike Richards via mike@treasuryrecruitment.com or call +1 727 538 7706 to discuss further.