JOB SUMMARY

The main purpose of this position is to assess, monitor, plan and manage the cash flows and company’s financing matters. The incumbent arranges to borrow funds from approved lending institutions in line with the prescribed policy aimed at maximizing liquidity. In addition, the incumbent is responsible to forecast daily / monthly cash requirements and monitor imprest accounts.

JOB RESPONSIBILITIES

• Review, monitor and periodically update sources of financing from lending institutions such as modarabas, leasing companies, investment firms, and local or foreign commercial banks to finance long term or short-term projects as needed from time to time.
• Initiate funding and coordination with financing sources such as lending / financial institutions for short term / long term financing to meet funds requirement of the company and repayments of acquired loans.
 
• Review and analyze financing models to assess the most suitable option for financing projects and consider key instruments in evaluating borrowing options such as interest rates, internal rates of return, installment plans, security requirements, Earnings per Share etc.
Prepare detailed reports for review and approval by the senior management and Board of Directors.
• Support the management in negotiating loans from financial institutions at most competitive rates.
 
• Review running finance accounts reconciliations on monthly basis.
 
• Ensure that there are no outstanding debts overdue.
Settle the outstanding dues in reasonable time period as per terms of the loan/debt agreements.
• Review drafts of relevant agenda items for consideration and approval by the Board of Directors (BOD).
Review all documents before submission to BOD for disbursement of loan and creation of charge. 
• Monitor and assess petty expenses of Cash Offices (H.
O, Karachi Terminal, SITE, and Khadeji) after evaluating cash requirements for day-to-day business activity.
• Review Imprest Accounts of Transmission, LPG air mix plant, and Land Compensation and Liaison office – Islamabad.
Conduct regular reviews for Imprest account reconciliations.
• Monitor processing of daily cheque arrangements and disbursements to contractors / suppliers and employees.
 
• Review bank reconciliations periodically and resolve outstanding issues.
 
• Review reconciliation reports generated from ERP – Account Receivable module.
 
• Conduct regular reviews of Imprest statement and payment vouchers.
• Arrange Letters of Credit through designated banks against Purchase Orders /contracts and ensure legal documents and requirements are fulfilled.
Ensure compliance with the terms and conditions of purchase orders. 
• Arrange letter of credit (L/Cs) through SSGC’s designated banks against approved foreign purchase orders/ contracts issued by the Procurement Department.
Ensure that information filled in the L/Cs is accurate and strictly in accordance with the terms and conditions of foreign purchase orders / contracts and ensure the bid is reviewed by the Purchase Committee.
• Review monthly reconciliation of subsidiary accounts maintained in the general ledger including import control account.
 
• The individual shall ensure compliance to the Enterprise Risk Management Framework enforced in the Company while performing job responsibilities in accordance with his assigned role.
• The individual shall ensure compliance to the Business Principles and Ethics Policy / Code of Conduct.
• Undertake any other task as instructed by immediate supervisor.