Cash Manager/Planner (FMG/PA 3)

The Cash Manager is responsible for effecting the cash management function of the Treasury including the development and management of systems for the cost effective collection, storage and distribution of GoJ financial resources in compliance with the FAA Act and GoJ regulations.

Job Title:                      Cash Manager/Planner

Job Level/Grade:        FMG/PA 3       

Strategic Objectives

The Financial Resources division is responsible for the administering and reporting on the financial resources of the Government.  It is responsible for the establishment and maintenance of an effective system of cash management to ensure the availability of cash for effective budget execution.  The Division is also responsible for the projection of debt service obligations; timely and efficient disbursement of Public loan in keeping with best practice; management of Treasury Deposits, and the monitoring of balances maintained from time to time to ensure funds availability and the best returns on investments.

This division operates on the authority of the FAA Act, Section 114 of the Jamaican Constitution, the Public Debt Act, the various Trust and Chancery Fund Acts and various other enactments.

Key Responsibilities and Tasks

• Oversees the daily monitoring of the GoJ's cash position to avoid shortage of cash resources;

• Prepares cash plan of expenditures, and payment profile of expenditures;
• Establishes and manages relationships with MDAs and other key stakeholders;
• Issues adjustments of the monthly forecasts based on available information collected from  different  MDAs;
• Completes all cash management set-up documentation for new and existing department processes;
• Prepares correspondence and proposals directed to and for cash management.

• Prepares  cash  plan  table  at  the  beginning  of  each  year  on  monthly basis  based  on  revenue  estimates;
• Receives  cash  plans  prepared  and  sent  by each  MDA and Principal Revenue Receiver (PRR), and the  stocks   of  obligations ready for payments;
• Prepares cash plans for presentation to the MOFPS with the stated timelines;
• Incorporates cash flow analysis in planning;
• Prepares, manages and reports on cash plans and cash flow tables;
• Incorporates public debt maturities and treasury payments into cash plan table;
• Monitors Government bank accounts and consolidates the balance in the cash plan;
• Prepares daily, monthly, quarterly and annual financial statistical tables related to Public Financial Management (PFM);
• Adjusts  the  cash  plan  table  in  terms  of  revenues, expenditures and estimates related to public debt maturities;
• Prepares and issues   monthly   variance report (comparative   tables   between   the   actual   and   the projected figures) in order to minimize gaps and improve the mechanism adopted, in terms of expenditures and/or revenues projections;
• Liaises closely with the MOFP (PEX) to synchronize revenue inflows and expenditure;
• Proactively manages cash flows;

• Devises tracking system to monitor all disbursements from the Consolidated Fund/CPA;
• Supports the Cash Management Committee (CMC) to analyse cash forecasts, identify the reasons for any errors/deviations and recommend actions for more accurate forecasts over time;

• Any other related duty that may be assigned from time to time.

REQUIREMENTS for this Job:

Minimum Qualification and Training

• Bachelor’s Degree in Accounting/Management Studies with Accounting or BBA Degree from an accredited University or; ACCA Level 2 or; Asc. Degree Accounting, MIND, along with the Diploma in Government Accounting, MIND.

Experience and Knowledge:

• At least four (4) years’ Post Qualification experience in a related financial management role;
• At least 2 years  of experience working at senior management level in Accounting and/or Finance, preferably in financial services in a similar capacity;
• Public sector experience;
• Strong cash management experience;
• Extensive experience in preparing cash forecasts and cash flow analyses;
• In-depth knowledge of financial statements and financial statement analysis, including the ability to analyse cash flow and the impact on the financial statements;
• Comprehensive knowledge of Accounting practices and applications;
• Sound knowledge of analysing the financial performance of an organization;
• Working knowledge of public treasury operations;
• Sound knowledge of how financial markets operate;
• Knowledge of international Public Service Accounting Standards (IPSAS);
• Knowledge of Government Accounting;
• General knowledge of FAA Act, GAAP and other reporting requirements for investments and other financial instruments;
• Experience in building complex financial models to evaluate various financial plans.

Desirable:

• Comprehensive  knowledge of investment strategies
• Knowledge of banking operations
• Treasury software expertise

Competencies

The incumbent is expected to participate in realizing the goals and objectives of the Department, in a highly dynamic environment.  The following competencies are required for the effective performance of this job.

• Analytical Thinking: Understands difficult or complex situations by breaking them down into manageable parts.
• Analysis & Evaluation: Identifies, assesses and uses relevant information to form coherent and relevant conclusions.  Monitors and documents deviations/changes to expected outcomes and measures their impact
• Attention to detail
• Managing the Client Interface: Ability to work effectively with others, both internal and external to the Department, to deliver acceptable, customer-oriented and high quality service
• Decision Making, and Problem Solving: The capacity to analyze problems promptly, choose between alternatives, and effect meaningful solutions
• Collaboration and Team Work: The ability to be a collaborative business leader, and an inspiring professional who shows a genuine intention to participate and work co-operatively with others in pursuit of team goals
• Performance Management: The ability to align resources, systems, standards and activities to effectively, efficiently and consistently meet the goals and strategic objectives of the Department are met in a consistent, effective and efficient manner 
• Strategic Vision: The ability to develop a clear vision of the desired future state of the Department, demonstrate awareness of and/or anticipate changing environmental trends, industry opportunities and threats/risks
• Strategic Planning: The ability to develop effective plans in keeping with the Department’s objectives, including to effectively review policy issues, determine priorities, and set medium and long term goals
• Change Management: The ability to maintain effectiveness in a changing environment and the willingness to respond quickly and positively to change, and manage their concerns
• Customer and Quality Focus: The ability to continuously ensure high standards of quality and service delivery to meet customers’ expectations
• Emotional Intelligence:  Possession of self-awareness, self-management, social awareness, and social skills – The ability to display behaviors appropriate to the AGD’s business and social environment
• Integrity: The ability to consistently demonstrate sound ethical standards, observe the codes of conduct for employees and codes of professional practice, and show consistency between established values and behaviors, in order to build trust and credibility;
• Interpersonal skills: The ability to display sensitivity towards others, interact collaboratively with colleagues, and to build long term internal and external relationships and gain support to achieve desired objectives
• Oral and Written Communication:   The ability to communicate proficiently orally, in writing, and in one- on- ones face- to- face, with excellent public speaking skills 
• Ability to work effectively under pressure

SPECIAL CONDITIONS ASSOCIATED WITH THE JOB

Physical Demands - Pressured working conditions with numerous critical deadlines.

Work Environment - Normal office conditions