Senior Treasury Accountant

Description

• The Senior Treasury Accountant owns the day-to-day treasury of all Tatu City's Kenyan legal entities: knowing every entity's cash position each morning, paying local and international suppliers accurately and on time, placing surplus cash for the best safe return, and managing the foreign exchange exposure that comes from operating in Kenyan shillings and US dollars with overseas suppliers and affiliates abroad.
• This is a demanding, hands-on operational role, not a supervisory desk job. The holder personally prepares and uploads payment files, builds the cash flow forecast and cash flow statement, negotiates deposit and foreign exchange rates with banks, and supervises a Junior Accountant. Working closely with the Country CFO and operational teams, the role turns business plans into reliable cash visibility, leads treasury in the 2027 Tier-1 ERP migration, and is expected to challenge existing practices and implement change.

Responsibilities:

Cash Position, Liquidity & Forecasting

• Establish each morning the cash position of every entity, bank, and currency; lead bank balances reconciliations and financial assets daily, and issue a daily cash report to the Head of Finance.
• Prepare monthly and quarterly cash flow forecasts, including a rolling 13-week forecast by entity and currency, built from inputs gathered directly from project, procurement, sales, collections, payroll and other operational teams.
• Analyse forecast against actual monthly, explain variances, and improve accuracy by challenging the timing and amounts submitted by operational teams.
• Anticipate funding gaps and surpluses and act early inter-account and inter-entity transfers, deposit maturities, facility drawdowns or re-phasing of payments so that construction milestones, land and infrastructure commitments, payroll and tax obligations are always met in each entity and currency.

Payments & Collections

• Personally prepare, validate and upload payment files on the banking platforms (EFT, RTGS, PesaLink, mobile money and SWIFT) for supplier, contractor, staff and statutory payments, with all approvals obtained as per the corporate policies.
• Run a disciplined payment calendar with clear cut-offs; prioritise payments against available liquidity and agree the weekly payment run with the Head of Finance.
• Release payments only with complete documentation (approved invoice, purchase order, contract, tax compliance and withholding) and independently verified new or changed beneficiary bank details, keeping a clean audit trail and protecting against payment fraud.
• Process international supplier payments, including import documentation and bank compliance requirements, and follow each transfer through to confirmed receipt.
• Monitor receipts daily property sale instalments, lease and service charge income, utility and other revenues allocate them promptly with the receivables team, and clear unidentified receipts fast.

Investment of Surplus Cash

• Maximise the return on excess cash through call deposits, fixed-term deposits and other approved short-term instruments, in KES and USD, while preserving capital and the liquidity required by the forecast.
• Obtain competing quotes from several banks for every placement, negotiate rates, document the decision, and ladder maturities to match forecast outflows.
• Monitor bank counterparty exposure against approved limits and recommend changes as a bank's risk profile or pricing evolves.
• Maintain the deposit register (maturities, rollovers, monthly interest accruals, withholding tax certificates) and report monthly on average yield against market benchmarks and on idle balances in non-interest-bearing accounts.

Foreign Exchange & International Flows

• Measure and report the foreign exchange exposure of each entity cash, receivables, payables, loans and intercompany balances in USD and other currencies against KES.
• Apply natural hedging first by matching currency inflows with outflows and timing conversions and payments; execute spot conversions at the best rate from competing bank quotes, keeping evidence of the rates compared.
• Manage settlements with affiliates abroad and overseas suppliers: agree and reconcile intercompany balances, settle on time, and maintain the supporting agreements and bank documentation.
• Account for foreign currency transactions and month-end revaluation in line with IAS 21, and explain realised and unrealised exchange gains and losses.

Banking Facilities, Trade Finance & Loans

• Administer letters of credit, bank guarantees and performance and other bonds from application to expiry or cancellation, with a register of all instruments, margins and fees.
• Monitor credit lines, bank limits, utilisation and headroom, and test financial covenants before each reporting date.
• Maintain accurate loan schedules, tracking drawdowns, interest and repayments so that all debt is serviced on time with no penalties; verify bank interest, fees and commissions against agreed terms and recover any overcharges.
• Support debt reporting, lender information requests and compliance certificates, and assist the Head of Finance with facility renewals, pricing negotiations and new financing.

Treasury Accounting, Cash Flow Statement & Reporting

• Prepare the monthly cash flow statement for each entity in line with IAS 7, reconciled to the balance sheet and income statement, with commentary on operating, investing and financing movements.
• Complete bank reconciliations for all accounts on the close timetable, clearing reconciling items quickly, and post treasury journals: bank charges, interest, deposits, loans, foreign exchange differences and transfers.
• Produce the weekly and monthly treasury reporting pack cash and deposits by bank and currency, debt and facility utilisation, FX exposure, yield and forecast versus actual and contribute treasury inputs to budgets, forecasts and financing decisions.
• Act as the main treasury contact for external and internal auditors: bank confirmations, loan and deposit schedules and supporting documentation for each entity's IFRS audit.

Controls, Bank Relationships & Change

• Ensure adherence to internal controls, treasury policies, corporate policies and IFRS; operate strict maker-checker and segregation of duties on every payment and placement.

• Keep bank mandates, signatories and e-banking user rights up to date for all entities; manage account openings, closures and bank KYC requests.
• Maintain strong, professional banking relationships and day-to-day correspondence; review bank charges and service levels and negotiate improvements.
• Write and maintain treasury policies, procedures and a controls matrix, and drive change: automate statement imports and reconciliations, standardise payment files, rationalise bank accounts and reduce manual work.
• Lead the treasury workstream for the 2027 Tier-1 ERP migration: requirements and process design, bank connectivity, cash management and payment modules, data migration, user acceptance testing, cut-over and post-go-live support.

Team Leadership & Business Partnering

• Supervise, coach and develop a Junior Accountant allocating and reviewing daily work and building autonomy and document processes and back-up cover so payments and cash reporting never depend on one person.
• Work closely with the Head of Finance on liquidity, funding, bank strategy and foreign exchange decisions, providing clear analysis at short notice.
• Partner with operational teams projects and construction, procurement, sales, collections, utilities, legal, payroll and tax so that their plans are reflected in the cash forecast and their payment needs are met on time.

Requirements

• Bachelor's degree in Finance, Accounting, Economics, Commerce or a related field from a leading Kenyan university.
• CPA (K) or ACCA required, with ICPAK membership in good standing; ACT, CTP or CFA is an advantage.
• Around 8 years of progressive treasury and finance experience, including hands-on ownership of treasury operations for multiple legal entities, gained in a multinational company with group standards and reporting, combined with the agility to operate in a lean, fast-moving organisation.
• Proven experience preparing cash flow forecasts and IAS 7 statements, working directly with a CFO and operational teams.
• Demonstrated practice of placing surplus cash in call and fixed-term deposits and negotiating rates with banks, and hands-on management of FX exposure and international payments with overseas suppliers and foreign affiliates.
• Strong knowledge of banking instruments (letters of credit, guarantees, bonds), loan administration and covenants, the Kenyan banking environment, and IFRS as applied to treasury (IAS 7, IAS 21, IFRS 9).
• Daily, personal use of online banking platforms for payment uploads; proficient in ERP systems and advanced Excel.
• Experience supervising at least one junior team member, and a track record of implementing change (processes, controls, automation, systems) under pressure and fixed deadlines.