Treasury and Cash Flow lead MCO

Accounting & Finance
Tunisia 🇹🇳
October 2, 2023

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Job Description

  • Manage day-to-day treasury tasks (Payment, collection, bank relations…)
  • Manage FX and derivatives and ensure currency hedging in line with local regulation and group strategy (files preparation and spots)
  • Contribute to the subsidiary cash management strategy
  • Monitor cash performance (conversion cycle: Stock, DSO, DPO, financial charges, debt…)
  • Optimize cash position
  • Focal point for regional treasury request for the MCO and SSA
  • Manage treasury projects (Focal point for group projects) and support initiative for local digitalization and simplification projects – MCO and SSA
  • Business Partner for GBU and neighboring functions

Education and Experience:

  • Master’s degree in Finance, Accounting or Economics
  • 10 years work experience in treasury/cash management or banking field or accounting preferred

Professional knowledge and skills :

  • Strong computer skills, including proficiency in Microsoft Word, Excel and PowerPoint
  • Excellent communication (written and verbal), analytical and interpersonal skills
  • Ability to handle multiple tasks under tight deadlines
  • Negotiation skills
  • SAP/ IZY TARGET, TCM, SAP

    Bank Relationship Management :

    • Ensure coordination with account holder for the perimeter (22 bank accounts) on daily transaction, Sanofi financing needs, update on economical changes…
    • Anticipate financing needs and negotiate with banks spot as per credit line defined, manage the contract sign-off, provide documentation needed with support of A2R and Legal,
    • Ensure all banking relation documentation are properly formalized and archived,
    • Coordinate the banking powers in case of change for the MCO (7 bank account in Morocco and 15 bank account in Tunisia with 12 signatories)+ SSA 5 ban accounts,
    • Ensure that access right to banking tools is in line with banking powers.
    • Supports external auditors for circulation exercise,
    • Monitor key innovation in local banking sectors enabling digitalization and process simplification,
    • Assess need for cash investment, when possible, analyze bank condition, select best offer and manager all related administrative tasks,
    • Manage creation and deletion of bank users in line with on-boarding/off boarding process,
    • Secure availability of funds to finance working capital requirements and new investments.
    • Perform banking relation survey for the group.
    • Participate in Request for proposal process with the banks: SPOC for RFP launched by the group: perform analysis on bank fees, complete and review RFP documents, consult the banks, review the proposal, and provide rational for bank selection at local level,

    Closing and reporting:

    • Monitor transactions and ensure the correct allocation to the the bank according to RFP results.
    • Control daily transaction in IZY target, perform consistency check on big spend and collection, ensure that there is no duplicate payment or error processed by the bank,
    • Perform allocation of all transaction to the dedicated reporting code (XX code, XX monthly transaction, line by line)
    • Calculate financial fees provision
    • Ensure timely closing and reporting of all transaction in TCM
    • Consolidate cash flow statement in excel by legal entity and by country
    • Analyze cash flow statement, provide comments to the group
    • Prepare and submit monthly/quarterly treasury reports in due time for all the legal entities of the MCO and SSA: bank balance, financial fees, cash flow generation, working capital indicators
    • Collect stock data and monitor inventory by GMID / GBU product category (FG, non-FG) and per country, investigate DIO variation and main trends
    • Perform analysis on DIO jointly with supply chain and external manufacturing
    • Obtain DSO and Overdue per GBU and per country: challenge and assess key driver deteriorating the DSO,
    • Support in defining and implementing action plans for Overdue reduction jointly with CI2C
    • DPO: Obtain DPO calculation for P2P, perform analysis to investigate root cause for bad performance and action plan.
    • Build monthly dashboard and communicate it to the affiliate (newsletter, TV screen…)
    • Monitor financial fees and interests
    • Anticipate on cash position for future months in line with the cash forecast.
    • Fx net and deal booking
    • Daily banking operations:
    • Manage FX and derivatives: prepare files summarizing invoices to be hedged by the trading room (invoices related to goods) and handle locally spots and the hedging of invoices related to services, and good importations. Negotiate with local banks directly for spot purchases.
    • Control and secure all daily transaction : payment and collection
    • Ensure cleaning of back log of bank guaranties since 2003
    • Monitoring of Inssurance spends
    • Follow-up on employee share reimbursment and plans

    Treasury budget:

    • Collect Budget data from FP&A, FBP, CI2C per country and Legal entity (Collections, Opex, Capex, P.costs, tax, Intercos…
    • Build budget assumptions and scenarios and consolidate a cash forecast per legal entity and per country
    • Define target DIO per country, per GMID and per GBU jointly with Supply chain
    • Prepare yearly 12 months cash flow forecast and prepare presentation to the group (external cash flow, internal cash flow, main variations versus previous, R&O)
    • Define financing lines for all the legal entities of the MCO according to the cash forecast
    • Communicate the budget to GBU head and IA.
    • Preparation of FX budget
    • Calculation and approval of dividend
    • Managerial tasks:
      • Manage treasury specialist in Morocco and Tunisia (2HC + interns)
      • Onboard new comer, ensure full understanding of Sanofi processes and way of working as well as treasury tools and processes
      • Develop talent

    MCO Projects and Support to Business

    • Support the business on : improving collection from Public institution in Tunisa jointly with CI2C
    • Closely work with Supply chain on inventory rationalization and E2E inventory reviews
    • Establish financing plans to structure and reduce deb jointly with the business and IA notably for CAPEX investments
    • Treasury projects: 2.0 digitalization and simplification: Define roadmap and project governance, dedicated meeting and committee / Roll-out projects phase: readiness, design and build, test, implementation, go live and hyper care /Prepare group presentation and status points for local and global projects.
    • Direct debit MCO
    • 0 cash on hand
    • T&E digitalization,
    • Foreign payment automatization
    • Bank portfolio rationalization
    • H2H phase 2 for MCO
    • Checks and bill of exchange automatization
    • Stock reduction Initiatives
    • Cash optimization project On DPO, DIO and DSO.
    • Initiate bank accounts closing for the MCO: 2/ 3 Morocco and 7 in Tunisia as a first phase.
    • Ensure a good monitoring of bank guarantees and coordinate with trade to obtain cancelation on time.
    • Ensure compliance with local authorities and submit timely Office des changes reports and surveys
    • Participate to internal control self-assessment, and implement action plans on time when gap are identified.

  • Key competencies :

  • Act for change
  • Cooperate transversally
  • Think strategically
  • Make decisions
  • Strive for results
  • Commit to customer

At Sanofi diversity and inclusion is foundational to how we operate and embedded in our Core Values. We recognize to truly tap into the richness diversity brings we must lead with inclusion and have a workplace where those differences can thrive and be leveraged to empower the lives of our colleagues, patients and customers. We respect and celebrate the diversity of our people, their backgrounds and experiences and provide equal opportunity for all.

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