Summary of Company
Gunvor Group is one of the largest independent commodities trading houses with a particular emphasis on the trading and logistics of energy related products such as oil, refined oil products, gas, biofuels and others. Created in 2000, the Group turnover reached $75 billion in 2019.
Total number of employees’ worldwide is approx. 1,600, which include staff in our trading offices, and our 100% owned assets, out of which about 220 currently operate in our Geneva office. The other main trading centers are Singapore, London and Houston. The group also operates through service centers, representative offices and branches in other locations and supports its trading activities through significant investments in strategically located assets.
The Group’s office in Geneva hosts, among others, the Group Treasury & EMEA treasury, covering both Group Treasury EMEA treasury operations, but also oversight over treasury in LatAm offices.
Overview of the role
The Treasury Manager EMEA & LatAm is leading the treasury operations team in Tallinn, Estonia, and ensures best-practices treasury processes and services as per agreed standards. He or she closely works with the Head of Treasury EMEA & LatAm (also based in Geneva) to re-design and implement best-practices processes – partly within the Group’s existing systems landscape, but mainly through the implementation of a leading treasury management system. The ultimate goal is to achieve global standards by extending (and adapting, where necessary) processes across all group offices and to centralize all treasury processes in the Tallinn treasury operations team that do not need to be performed locally.
The role is a hands-on role for daily treasury operations with a strong element of using the candidate’s vast experience in the field of treasury excellence to train, coach, and nurture the team in Tallinn and local treasury staff in smaller group offices to move to the highest standards.
The candidate will also be involved in and/or drive projects to improve processes and bring treasury standards to the next level and will act as the backup of the Head of Treasury EMEA & LatAm. The Treasury Manager EMEA & LatAm is based in Geneva and reports to the Head of Treasury EMEA & LatAm (also based in Geneva). The role requires regular travel to Tallinn (approx. one week per month, with more on-site presence required at the beginning).
The Treasury Manager EMEA & LatAm will form a strong treasury operations team in Tallinn that provides a platform for scale and efficiency. Process standardization with strong controls and the implementation of a leading treasury management system will build the backbone of the team in Tallinn, allowing to centralize treasury processes from outside the EMEA region in Tallinn and to broaden the scope of activities performed by the team.
Ongoing responsibilities include:
Cash management & payments:
- Oversee the day-to-day treasury operations including bank account reconciliation, payments, FX, external and internal funding requirements o In charge of rolling out a brand new payment factory to reduce our payment processing fees. It includes reimplementation of the SWIFT service bureau and the implementation of new bank connectivity and new file formats (as is: MT101 FIN, to be: H2H, FileAct with ISO format or local payment file)
- Implement a fall back plan to ensure payments are executed at all times, including written process guidelines
- Centralize the new call back process as per the Group’s payment policy & ensure data quality for payment information
External debt management:
- Day-to-day management of the group’s main revolving credit facilities, its OBSI (off-balance sheet instruments) facility, and term debt (drawdown, roll-over. Repayment, interest and fee payments, issuance, amendment and cancellation of guarantees, ongoing reporting)
Intercompany loan process:
- In charge of gathering the full intercompany and current account structure and get it added and properly maintained in the treasury management system
- Re-design the intercompany loan process by liaising with relevant stakeholders
- Define and implement the in-house bank / agency function for treasury in relation to intercompany loans
Cash management account structure:
- Review existing bank accounts and carry out initiatives for reduction / optimization of bank accounts
- Work with the Head of Treasury EMEA & LatAm towards a desirable structure for cash concentration and run the RfP process for the desired structure
- Lead the implementation process
- Work with Group Treasury and the local finance team to develop local funds management strategies
Bank Account Administration:
- Oversee the end-to-end bank account administration process, including
- Opening, amending, closing of bank accounts
- Signer management
- Maintain accurate static data for bank accounts across systems; control bank statement integration
- Ensure all existing treasury processes are documented and up-to-date at all times
- Ensure that operational procedures are implemented in all countries/entities and lead training and roll-out efforts
- Identify areas for process improvements
- Monitoring and regular reporting of cash usage & capital allocation by business unit
- Bank fee control and analysis
Profile / Key Skills:
The individual should have the following experience:
- A master’s or bachelor’s in relevant fields such as Business or Finance
- Minimum of ten years’ experience in a treasury department of an international company
- Experience in commodity business is a plus
- Familiarity with latest industry best-practices treasury processes, including, but not limited to, bank account management, payments, cash management, FX, loans & deposits
- Experience in working with a leading treasury management system or treasury suite of a leading ERP and treasury transformation
- In-depth knowledge of international cash management structures and intercompany funding solutions
- Solid knowledge about external corporate funding solutions
- Ability to communicate effectively with banking partners
- Proven track record of leading projects with internal and external stakeholders involved
- Strong client relationship management and customer service skills
- Team player with the ability to communicate and coordinate with multiple parties
- Hands-on and solution-oriented
- Excellent time management, organization, task prioritization, and problem-solving skills
- Excellent English language skills, both written and spoke