We are seeking to recruit on behalf of our client a GROUP DIRECTOR TREASURY (GLOBAL FRIEGHT FORWARDING) based in DUBAI ON A LONG -TERM RESIDENTIAL CONTRACT
• Treasury Expert specialized in Freight Forwarding Industry
• At least 7 to 10 years' experience in the management of a treasury function in logistics /freight forwarding business?
• Solid experience in Implementation of cash pool structure?
• A bachelor's or master's degree in finance or related field?
Purpose:
This role will lead the design, implementation and management of the cash management structures for the global freight forwarding business in close cooperation with the freight forwarding leadership in the Global Logistics team and regional Freight Forwarding teams. DP World intends to build a global top 10 air and ocean freight forwarder within the coming 36 months, through a combination of organic growth and M&A. The group’s target operating model is intended to be highly efficient utilising in house technology to deliver high quality, consistent service, and low transaction costs. The business will operate from a proprietary TMS, leveraging an in-house global shared service centre, with regionally led business units (100+ branches across the world) driving high value add sales and customer service activity. The business is expected to handle more than a million TEU and generate >$2bn revenue globally.
This role will be responsible for developing and implementing a treasury strategy with the aim to efficiently fund the working capital requirements of the freight forwarding business and manage cross border funds flow. This strategy will need to ensure that cash is available to meet the working capital requirements of a rapidly growing business operating in multiple geographies while ensuring over capitalisation does not result in a drag on ROCE. The strategy will also need to consider the management of foreign exchange risk and efficient sources of financing. Furthermore, the role is expected to provide support to the new regional and country level freight forwarding business units in various geographies through training, policies and procedures and best practice treasury governance.
The cash management/ pooling is expected to key to efficient operation of the freight forwarding business as it allows efficient management of cash across a wide range of branches.
Duties:
• Lead the development, implementation, and management of a global treasury strategy for the company’s freight forwarding business
• Set up a cash management structure for the freight forwarding business which manages liquidity across the global branch network
• Implement, maintain, or improve the day-to-day treasury requirements for the freight forwarding business.
• Manage the cash position to optimize return on capital employed
• Provide leadership / guidance / policies / training, to regional finance managers responsible for freight forwarding branches on how to effectively manage liquidity and currency finance that is based on thresholds in a delegated authority matrix agreed with Group Treasury.
• Oversee intergroup funding structures and cash settlement
• Working closely with Group Tax and Group Legal to ensure that funding structures are tax efficient and compliant with local laws and regulations in the geographies where group branch network operates
• Manage bank guarantees where required.
• Oversee and negotiate ABL structures (Factoring), where applicable
• Perform foreign currency and interest rate hedging in close collaboration with Head Office Treasury
• Support group treasury on funding processes within the region.
• Reporting on cash positions, cash forecasts and seeking funding for shortfalls
• Working with statutory auditors and internal auditors
Experience/Qualifications
• Bachelor’s degree/University degree or equivalent experience in Finance & Banking
• Master’s degree preferred
• At least 7 to 10 years’ experience in the management of a treasury function in logistics /freight forwarding business
• Background in banking
• Implementation of cash pool structure Definite asset
• Technical treasury experience (implementation of systems)
• Finance modules for ERP systems (Oracle/SAP)