AGM/DGM - Treasury - Steel Industry - CA

Manager / Sr. Manager - Treasury Backoffice

This position is responsible for following activities:

- Back office for Treasury Operations (Forex/Commodity / Interest rate risks)

- Hedge Accounting and Documentation

- RBI Compliance and Audit

Back office operations: ( Foreign currency risk, commodity risk and Interest rate risk )

- To ensure that the hedging done is in compliance to the Hedging policy approved by the Board.

- Review if the hedging activities are carried out based on exposures and identify unhedged exposures if any

- Ensure that the hedges carried out by the front office is correctly reflected by the banks

Hedge Accounting : Ensure hedge documentation for initiation of fair value hedge and cash flow hedge and effectiveness testing

- Verify MTM of forwards, Options, IRS and pass necessary entries in the books

RBI Compliance : Ensure compliance of the hedging requirements in compliance with RBI guidelines

MANDATORY- KRA's and Key Activities :

Treasury Operations: ( Foreign currency, Commodity and Interest rate risk )

- Identity Forex exposure on real time basis to and Communicate same to Front Office for hedging

- Mapping of underlying exposures to the hedging instrument till retirement of Forex liability

- Analysing hedging instrument rate with bench mark rate to determine hedging instrument efficiency.

- Receive the deal confirmation from Banks and ensuring that the same is in compliance with the deals and rates booked by the front office. Once the same is confirmed the deal confirmation is required to be sent to banks

- Maintain detailed record of booking and cancellation for Steel and Subsidiaries. The cancellation gain / loss workings

- Map and maintain underlying details for Forwards/Options and provide the same to Banks for compliance to the hedging requirements

- Reconcile the derivative position as on month end with banks and resolve any issues

- Maintain Forex Gain Loss statement and follow up with Banks in getting the gains credited.

- Verify the economic details/back up of every Forward, Option, IRS and Commodity Contract

- Send the documents/deal confirmations to respective banks after confirmation and signature

- Provide Underlying documents to Banks for all Derivatives

- Process Invoices related to Treasury

- Calculation for early delivery gain or loss for early delivery of contracts

- Review of cash flow for cancellation Gain or loss on cancellation of Forward contract and have a control monitor to recover cancellation gain from counterparty and funding to banks

Exports :

- Provide fx rates for booking export invoices

- Analysis of the exports receipts vs B/L dates rates

Accounting :

- Calculate MTM on outstanding Deals and make necessary Accounting entries

- Accounting entries for Charges, Gain/Loss, Options, IRS and Commodities

- Accounting for MTM related to Fx contracts, Options and Other derivative instruments

- Accounting for early delivery gain or loss for early delivery of contracts

- Non - Derivative hedging - Transfer of movements to hedging reserve and recycling to P & L when the forecasted sales happen

- Realised and unrealised Fx currency breakup for cash flow and Tax Audit requirements

- Notes to accounts : Preparation of currency exposure and currency sensitivity, Forward and options, hedged positions, unhedged currency risk, commodity price risk, Financial instruments note relating to hedging

- Prepare all required documentation for audit. Resolve queries raised by auditors

MIS :

- Preparation of Unhedged foreign currency exposure statement to comply with the RBI guidelines

- Analysis of exposures - Plan Vs Actuals to identify key variances

- Daily Forex MIS

Hedge Documentation and MIS (Forwards, Options, Commodity and Interest Rate Swaps) :

- Ensure that the Hedge Deals are in compliance with Risk Management Policy and Board Resolution

- Analyze forecasted Budget vs Outstanding Hedges

- Analyze historical budget vs actual realization

- Prepare Hedge Documents for all contracts on each reporting date

- Test for Hedge Effectiveness on a monthly / quarterly basis.

Education:

- Chartered Accountant

Work Experience:

- Experience of handling back office ( currency / commodity / Interest risk exposures ) 6 - 7 years with large corporates / Private Bank Treasury