Website Momentum Metropolitan Holdings LTD

Introduction:

Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations.

We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Metropolitan provides practical financial solutions for people, communities and businesses.

Visit us at www.momentummetropolitan.co.za

Role Purpose:

The centralised Group BSM Treasury function is responsible for implementing industry best practices across the Group for treasury related activities.  The purpose of the role is to analyse Treasury activities and determine the financial implications of all transactions by aligning the economic intent with tax considerations, capital requirements and technical accounting requirements.  The role is responsible for facilitating and enhancing the decision making, transaction execution and monitoring processes of Group Treasury.

Responsibilities and work outputs

Foreign Exchange execution:

  • Execution of foreign exchange deals with banks.
  • Transacting on FX system to capture, aggregate and approve FX deals.
  • Collate the Forex requirements across divisions and optimally trade in the external market.
  • Manage and monitor all foreign exchange trading and money market dealing processes and systems to ensure efficiencies across the group.
  • Execute foreign exchange and money market dealing activities to ensure the best outcome for the group.
  • Optimise Forex usage and minimise risk with foreign currency transactions.
  • Conduct Forex hedging trades to protecting Momentum Metropolitan Ltd from unwanted movement in the foreign currency exchange rates.
  • Contribute to policy development within area of expertise and implementation of best practice solutions.
  • Process and keep record of Forex transactions and information received from divisions and other stakeholders.
  • Keep abreast and share of financial markets, economic conditions and regulatory issues and address impact on Momentum Metropolitan Ltd Treasury activities.
  • Capture information on system to access up to date and accurate information used to trade Forex instruments.
  • Monitor, address and escalate risk that may lead to operational loss.

Short Term Investment Management:

  •  Handle operation and liquidity of fiduciary and surplus funds investment including money market deposits and funds.
  • Oversee overall money market dealing activities and foreign exchange dealing and collaborate with other departments to ensure that all activities are aligned to practices and framework.
  • Build and manage relationship with banks to negotiate rates and processing of trades and transactions.
  • Invest funds on the Money Market/Short term deposits through analysis of rates, returns and business needs.
  • Prepare and present insights on treasury exposures, activities and possible contribution to the function.
  • Compliance with all laws, regulations and industry standards
  • Assist with FIC reporting for Cash Threshold reporting.
  • Correlating data to assist the team in reporting of foreign transactions to the compliance team on a quarterly basis.
  • Assist with providing ad hoc information for internal reports relating to regulatory reporting, compliance and internal policies and procedures

General:

  • Determine the financial implications of treasury transactions by aligning the economic intent with tax considerations, capital requirements and technical accounting requirements.
  • Tracking of Treasury efficiency and enhancements with background explanations.
  • Measure P&L impact of forex hedging activities
  • Review and confirm accuracy of Daily P & L attribution produced by Middle Office;
  • Co-ordinate with Back office to resolve post trade and settlement issues
  • Assist in resolving trade discrepancies caused from trade failures and breaks;
  • Review and consider accounting implications of treasury activities/transactions following consultation with Technical accounting and Financial Reporting teams.
  • Review and consider tax implications of treasury activities/transactions following consultation with Group Tax.
  • Review and consider capital implications of treasury activities/transactions following consultation with Capital Management.
  • Review of financial reporting packs relating to key treasury related companies and activities
  • Forward projections of Balance Sheet and Income Statement for key companies managed by Group Treasury
  • Budget process management

Experience and Qualifications

  • Qualified CA(SA).
  • Studying towards CFA or treasury related degree advantageous.
  • 4 to 5 years’ experience in an accounting role.
  • Experience of working in a treasury or investment related environment an advantage

Competencies required

  • Business Acumen
  • Collaboration
  • Client Centricity
  • Drive for Results
  • Self-Awareness and insights

To apply for this job email your details to nicole.pike@mmltd.co.za