Treasury and Insurance Manager

JOB DESCRIPTION

BASIC INFORMATION

Position Name

Secondment - Treasury and Insurance Manager

Duration

1 year subject to renewal

Job Code

Function

Finance

Department

Finance

Section

Treasury and Insurance

Location

 Muscat

Reporting To (Functional Title)

CFO

Number of Direct Reports

N/A

ROLE PURPOSE

The role requires comprehensive deep knowledge across all finance functions including building external relationships with bankers, traders, industry specialists and investors. The candidate will be required to work closely with executive management and the board to drive optimal financial decisions, debt management, business, and funding plans.  Primary role to analyze financial data, identifying investment opportunities, and provide strategic guidance to support the organization's financial goals, play a crucial role in optimize the organization's cash flow, manage financial risks, and maximize investment returns.

Additionally, the role will lead the development and execution of the organization’s insurance strategy, ensuring adequate risk coverage, efficient policy management, and protection of the company’s assets, people, and operations.

ACCOUNTABILITIES AND RESPONSIBILITIES

1.Main duties include:

1. Lead the development and implementation of financial, debt management, insurance, and investment strategies, processes, and controls to achieve business objectives.

2. Exercise effective and transparent governance of treasury and insurance functions, including ERP integration and H2H banking connectivity.
3. Collaborate with legal, procurement, business development, asset management, operations, and risk teams to provide strategic guidance on funding, investments, risk transfer, and insurance.
4. Seek alignment and approvals from Executive Management on key financial and insurance decisions impacting long-term business growth and protection.
5. Develop and manage strong relationships with banks, insurers, reinsurers, brokers, government bodies, and shareholders to ensure the organization’s financial and insurance interests are well served.

Technical:

1. Identify various funding sources and optimal structures to maintain access to liquidity including SEF, CF, WC etc
2. Lead and develop and implement treasury strategies and policies to optimize cash flow and liquidity management.
3. Lead and develop risk management policies to mitigate various risks inherent within the mining industry.
4. Lead with support of business development team originating and negotiating marketing agreements with international traders.
5. Ability to evaluate creditworthiness of potential partners and counterparts that play significant role in the business including contractors, agents, JVs, etc 
6. Monitor and analyze financial market conditions, commodity prices, interest rates, and currency fluctuations to identify potential risks and opportunities.
7. Evaluate and recommend appropriate investment strategies to maximize returns while maintaining acceptable risk levels.
8. Monitor and manage the organization's debt and interest rate exposure, including refinancing and debt restructuring.
9. Conduct financial risk assessments and develop risk mitigation strategies.
10. Monitor and ensure compliance with applicable laws, regulations, and accounting standards related to treasury activities.
11. Provide expert advice and guidance on treasury-related matters to senior management and other departments within the organization.
12. Collaborate with senior management to develop and execute financial strategies that align with the organization's goals and objectives.
13. Monitor and analyze financial performance indicators, such as profitability, cash flow, and return on investment, to identify areas for improvement and develop action plans.
14. Provide strategic financial advice and guidance to senior management, board of directors, and stakeholders on key financial decisions and initiatives.
15. Collaborate with cross-functional teams, including business development, budget, operations, legal, and compliance, to ensure financial strategies and decisions are aligned with organizational objectives and regulatory requirements.
16. Build and maintain relationships with external stakeholders, such as financial institutions, investors, and industry experts, to leverage opportunities and facilitate financial transactions.
17. Prepare timely and accurate treasury reports for management and external stakeholders.
18. Lead and study IPO initiatives in group level or subsidies.

Insurance Management

1. Develop and implement the company’s insurance strategy, ensuring alignment with OQ group policy, risk appetite, regulatory requirements, and operational needs.
2. Lead periodic review of insurance policies to ensure adequate and cost-effective coverage for all business units and assets.
3. Manage all corporate insurance programs,
4. Lead annual insurance renewals, negotiations, and tendering processes with insurers and brokers.
5. Ensure proper evaluation of asset valuations, risk exposures, and operational hazards to determine accurate insurance requirements.
6. Manage the end-to-end process of insurance claims from incident reporting to settlement.
7. Coordinate with internal departments, insurers, adjusters, and legal representatives to expedite claim resolution and protect company interests.
8. Conduct risk assessments and ensure insurance coverage reflects current and future risks, including CAPEX projects and operational expansions.
9. Collaborate with HSE, Operations, and Asset Management to incorporate preventive actions and ensure insurable risk compliance.
10. Maintain accurate records of policies, endorsements, schedules, and claims.
11. Ensure compliance with local regulatory requirements related to insurance coverage for industrial, operational, and project activities.

2. Policies & Procedures

Comply with the implementation of departmental policies and procedures, to ensure that all relevant procedural and legislative requirements are fulfilled.

3. Health, Safety & Quality

Comply with all relevant health, safety, and quality requirements, in order to guarantee employee safety and legislative compliance.

4. Continuous Improvement

Contribute to the identification of opportunities for continuous improvement of systems, processes, and practices taking into account ‘leading best practices, improvement of business processes, cost reduction, and productivity improvement.

COMMUNICATION CHANNELS

Internal

External

• CFO
• Managing Director
• Finance Manager

• Suppliers
• Vendors
• Financial Institutions

ROLE REQUIREMENTS

Educational & Professional Qualifications and Experience

Minimum Qualifications:

• BSc in Finance or Accounts (required).
• MCOM in Finance or Banking (required).
• MBA is optional.
• CFA (is a plus – minimum Level 3/ passed Level 2).

Minimum Experience:

• 10 years with 5 years relevant experience in a similar role a Bank or a corporate treasury covering variety of sectors including commodities.
• Wide coverage of investment/wholesale banking experience is a must.
• Experience and track record of having been actively involved in several structured finance including export element transactions including end to end process of the transaction.
• Experience in having been involved in structuring including but not limited to CF, WC, EBL, RCF, etc.
• Experience in having managed a project finance facility from start of construction to completion including completion of key milestones such as LRTs.
• Demonstrate an understanding of local and regional markets and key players.
• Proven track record in treasury, investments, risk, procurement coordination, and insurance portfolios.

Skills and Competencies

• Generic Skills: Communication skills, Computer literacy (ERP), Microsoft tools (Excel, PowerPoint, Visio, Word)
• Job Specific Skills: Numerical Abilities, Organisational skills, Teamwork, Customer orientation, Detail-orientation, Initiation, Conceptual Thinking
• Behavioural Competencies: People Centricity, Integrity, Agility, Collaboration