Job description
SNR ACCOUNTANT
TREASURY AND TRANSACTIONS
Purpose:
Managing Treasury and Exchequer Services is crucial for maintaining a healthy cash flow and ensuring financial stability of the Council. The purpose of this role is to carry out the Council’s treasury operations and manage the Exchequer Services section involved in provision of comprehensive set of financial operations services to the Council and its companies, e.g. Treasury, Insurance, Accounts Receivable, Accounts Payable and Payroll services.
Main Objectives:
Carry out the Council’s treasury activities ensuring they are managed effectively and in accordance with the established Treasury policy and procedures; This includes treasury advice to senior management and implementation of Council’s Treasury strategies.
Manage the Exchequer services teams to ensure that the Accounts Receivable, Accounts Payable and Payroll processes are operating effectively whilst adhering to the established procedures and controls. This includes associated accounting, reporting and disclosures.
Ensure that all the Council’s payments are received and paid safely and allocated correctly in the ledgers (including to the relevant control accounts).
Ensure that the Council maintains a set of insurances to adequately cover insurable risks and to provide associated insurance services, including handling of the claims.
Ensure that all aspects of the work comply with relevant statutory requirements, professional codes of practice, financial regulations and standing orders Main Duties and Responsibilities:
Broadly, the role involves carrying out the treasury requirements of the Council and supervising the Accounts Receivable, Accounts Payable, Insurance and Payroll processes on a daily basis. Specifically, this role is accountable and responsible for taking appropriate action with respect to the following Treasury and Exchequer services:
Treasury management:
Carry out the daily, monthly and quarterly treasury operations as required
Assist in maintaining robust treasury management policies and procedures for the Council (e.g. TMSS, TMPs & TMSs) review for appropriateness and recommend changes to ensure effective control and management of treasury risks and activities;
Maintain the Council’s liquidity position by managing cash surpluses as per Council’s investment policies and strategies.
Maintain the Council’s rolling short-term and medium-term cash forecasts
Maintain a fit for purpose banking infrastructure, banking mandate and efficient banking relationships.
Liaise with the Council’s treasury advisors, engage credit assessment application companies and apply industry practice to monitor and assess credit limits, as required.
Act as System Administrator for the Treasury Management System (Logotech) ensuring all records are up to date and adhere to the Council’s policies.
Provide regular management information reporting on treasury management to the Council’s management and committees as required under the CIPFA’s Codes of Practice and the TMSS.
Prepare the monthly cash control by reconciling all income and expenditure records to bank statements and schedules and to the FMS, and by resolving differences identified, in order to ensure that all receipts and payments have been correctly accounted for and posted to the Council’s ledgers accordingly. Accounting & Advice:
Arrange and maintain a fit for purpose set of insurances for the Council, managing the relationships with the insurers and brokers/advisors and ensure effective process for claims handling is in place
Ensure all insurance costs are reasonably allocated to the appropriate service areas and all recharges to stakeholders are accurately calculated and charged in accordance with relevant practices.
Oversee the accounting, control and reconciliation of creditors and debtors balances.
Take a leading role in the production of Statement of Accounts by compiling the relevant working papers and disclosures ensuring they are fully compliant with the relevant legislation and Codes of Practice and to the satisfaction of external auditors.
Provide proactive and responsive financial advice to support senior management in the provision of their services.
Support the Corporate Head of Finance at committees, working parties and project teams by attending meetings and providing financial evaluations, costings and advice to enable decisions to be made that assist in the achievement of the aims of these groups Other Responsibilities:
Lead the Accounts Receivable, Accounts Payable and Payroll teams: in all aspects on a day-to-day basis. This includes effective communication via regular 1-2-1’s, setting annual targets and carrying out staff appraisals, holding regular section meetings, contributing to their individual training and development plans, and taking other steps as part of succession planning and/or recruitment.
Develop and maintain the central record of procedures and controls for the team, updating it regularly as part of the continuous improvement.
Provide all necessary assistance, support and information related to audits and reviews of Treasury and Exchequer Services or wider Finance processes and accounts. Plan, prepare and obtain information and engage with the auditors, as required