Industry: Finance
Total Positions: 1
Job Type: Full Time/Permanent
Gender: No Preference
Salary: 2400USD - 3200USD (Monthly)
Education: Bachelor′s Degree
Experience: 8-12 Years
Location: Muscat, Oman
Skills: Adaptability, Continuous Self Improvement, Customer Focus, Effective Communication, Innovation, Result Oriented, Team Work
Posted Date: 29-01-2025
Description:
The job holder is responsible for carrying out the day-to-day operational banking and insurance transactions in coordination with the Head of Finance to ensure tasks are done in a timely manner. This includes preparing relevant bank transfer and insurance correspondence documents as required
The job holder provides the necessary administration and operational support to facilitate planned and structured functioning of the treasury department on a day-to-day basis.
1. Key Accountabilities
Operations
· Updates bank account balances through the treasury management system to maintain a record in the system on a day-to day basis
· Prepare the daily interbank fund transfers and on approval of Line Manager, communicate to respective Banks / Financial Institutions and monitor the transfers’ value date.
· Opening of Letters of Credit, Bank Guarantees, Bonds, Acceptance & Collection of Shipment Documents from Banks and handing over to the Logistics team.
· Cancellation of Bank Guarantees, Bonds, Letters of Credit etc as and when it is required.
· Updates each bank facility monthly rate of interest in the treasury management system to reflect the approved interest changes communicated by the counterparties
· Obtains monthly account statements from all the Banks / Financial institutions and submits them to accounting department to facilitate preparation of bank reconciliations
· Drafts, finalises and arranges distribution of correspondences on matters related to banking and insurance, forms and follows-up with the external parties to monitor associated tasks are achieved in a timely manner. This involves documents related to fulfilling requests for new facilities, Insurance Policies, loan settlements, and online banking
· Maintains and tracks logs for all the insurance covers, including medical insurance, and notifies the line manager to approve processing of renewals, deletions, cancellations and amendments as required
· Maintains a log of insurance claims and new insurance requests received, including medical, travel, workmen’s compensation, vehicle and marine insurance. Once this done, submits approved claims and new requests to the insurance company along with additional information, relevant correspondence and forms to process the requests and subsequently follow up on their applicability and chances for claims’ compensation
· Administers the electronic and manual filing of all banking and insurance related correspondence on an ongoing basis to maintain record and reference
· Attend meetings on a day-to-day basis with the Line manager to provide progress updates and feedback on issues
2. Operating Environment:
The role is performed in an office environment which requires continuous coordination with other departments and companies within the group, in addition, to external stakeholders. The job holder must have the ability to manage under pressure and demonstrate high level of attention to detail, planning and organising.
3. Decision Making:
The job holder works under minimal supervision, however, is required to work under the guidance and direction of the Line Manager. He/she has limited freedom to make final decisions; however, in the absence of the Line manager, the job holder will request and seek approvals from the Group Treasurer or higher authority as appropriate.
4. Communication & Working Relationships:
Internal
· Head of Finance for guidance and direction on banking and insurance related work
· Head of Finance for providing daily updates on progress and issues
External
· Representative for Group divisions and companies for coordinating the processes of bank and insurance requests
· Bank and Insurance representatives for coordinating the processes of bank and insurance services
Qualification
· Graduation in Accounts with Banking, MBA Finance
Experience
· Minimum 5 years’ experience in Banking, involving large scale operations
· Foreign Currency Operations
Knowledge & Skills
· Knowledge of banking and insurance policies and procedures
· Planning and organising skills
· Ability to manage pressure and meet deadlines
· Written and verbal communication in English (other regionally spoken languages including Arabic would be an added advantage)
· Proficient in MS Word and Excel