Treasury Controller

Job Purpose: Job Outline 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. Job Accountabilities Generic - 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.
Treasury Operations (Risk) - 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. Treasury Operations
(Financing) - 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. Taxation, Govt. Liaison and Regulatory Affairs - 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. Banking, Systems and Procedures - 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. Treasury Risk Management (Risk
Management) - 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. Treasury Risk Management (Liquidity) - 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.
Qualifications & Experience: Experience Finance & Insurance. Treasury: ‎5+
years Professional experience in Finance within a large corporation or
financial institution, preferably within a commercial Treasury department
Qualifications Degree or Honours (‎12+‎3 or equivalent) University degree with a
major in Finance Knowledge/skills - Knowledge of financial markets and
technical analysis. - Strong analytical background. - Excellent communication
and interpersonal skills. - Expert knowledge of Excel and other office
automation software.
Salary & Benefits: Join us in Dubai and enjoy an attractive tax-free salary
and travel benefits that are exclusive to our industry, including discounts on
flights and hotels stays around the world. You can find out more information
about our employee benefits in the Working Here section of our website
www.emirates.com/careers. Further information on what's it like to live and
work in our cosmopolitan home city, can be found in the Dubai Lifestyle
section.