Finance & Accounts - Area Incharge (Treasury )

JOB DESCRIPTION

JSW JFE Electrical Steel Private Limited

• Position Details ParticularsDetails

Position Name Manager – Treasury & Banking

Current Position Holder New

Division JSW JFE Electrical Steel Private Limited (JV between JSW Steel & JFE)

Location Vijayanagar

Reporting To Head – Treasury / CFO

Recruitment Priority Urgent / Immediate

Number of Positions 1

• Purpose of the Role To manage the company's cash flows, liquidity, banking operations, foreign exchange (forex) exposure, trade finance instruments (LC/BG), and loan compliance for a manufacturing setup. The role requires strong knowledge of Ind AS, treasury operations, financial risk management, and stakeholder management to ensure effective financial planning, regulatory compliance, and optimal utilization of funds.
• Organization Chart
• Position Reports To: CFO / Head – Treasury
• Peer Positions: Manager – F&A, Manager – FP&A Controlling, Manager – Tax
• Positions Reporting To This Role: Executive / Deputy Manager – Treasury

Organization chart to be attached as an annexure.

• Key Result Areas (KRAs) and Key Performance Indicators (KPIs)
• Cash Flow and Liquidity Management: Manage daily cash flows, liquidity, short-term investments, and working capital limits, including cash credit (CC), letters of credit (LC), and bank guarantees (BG).
• Trade Finance Management: Oversee LCs, BGs, standby letters of credit (SBLCs), amendments, and import/export documentation.
• Forex and Risk Management: Monitor foreign exchange exposures arising from imports and exports and execute appropriate hedging transactions.
• Loan and Project Finance Management: Monitor long-term loans, external commercial borrowings (ECBs), project finance, repayment schedules, and covenant compliance.
• Treasury Accounting and Compliance: Ensure accurate treasury accounting, including interest accounting, mark-to-market (MTM) valuations, and hedge accounting in accordance with applicable Ind AS requirements.
• Banking and Stakeholder Management: Liaise with banks, rating agencies, statutory auditors, and internal stakeholders to ensure effective treasury operations.
• Process Improvement and Automation: Drive treasury automation, ERP/Treasury Management System (TMS) integration, and process efficiency.
• Critical Tasks and Key ActivitiesKRA 1: Cash and Liquidity Management

Objective: Ensure optimal liquidity for operational expenditure, capital expenditure, vendor payments, and statutory dues while minimizing idle cash balances.

Key Activities

• Monitor daily cash and bank balances and maintain adequate liquidity for business operations.
• Prepare and review daily and weekly cash flow forecasts.
• Ensure timely execution of vendor payments, payroll, utility payments, and statutory obligations.
• Monitor and optimize working capital facilities and banking limits.
• Invest short-term surplus funds in accordance with the company's Treasury Policy.
• Identify opportunities to improve cash utilization and minimize financing costs.

KRA 2: Loan Management and Covenant Compliance

Objective: Ensure accurate tracking, timely servicing, and compliance with the terms and conditions of long-term loans, ECBs, and project financing arrangements.

Key Activities

• Monitor loan drawdowns, interest payments, repayment schedules, and outstanding balances.
• Ensure compliance with loan covenants and financing agreements.
• Prepare and submit Debt Service Coverage Ratio (DSCR) and other financial ratio calculations to lenders.
• Coordinate with project teams to monitor capital expenditure, project funding requirements, and utilization of funds.
• Maintain accurate loan documentation and financing records.
• Coordinate with banks and lenders for loan-related reporting and compliance requirements.

KRA 3: Trade Finance and Forex Risk Management

Objective: Ensure timely and accurate execution of trade finance transactions while mitigating foreign exchange risks associated with imports and exports.

Key Activities

• Arrange, open, amend, and monitor LCs, BGs, and SBLCs in coordination with banks and internal stakeholders.
• Ensure compliance with UCP 600, FEMA, RBI guidelines, and other applicable regulatory requirements.
• Monitor shipping documents, usance periods, maturity dates, and payment obligations.
• Identify and monitor foreign exchange exposures arising from import and export transactions.
• Execute approved forex hedging transactions in accordance with the company's Treasury Policy.
• Maintain appropriate documentation and accounting records for hedge transactions in line with applicable Ind AS requirements.
• Monitor forex market movements and assess their potential impact on the company's financial position.
• Decision-Making Authority

Decision-making authority shall be exercised in accordance with the company's approved delegation of authority, treasury policy, and applicable internal control procedures.8. Competencies Required9. Working Relationships – Stakeholders

• Educational Qualifications and Work Experience
• Qualification: Chartered Accountant (CA) or MBA in Finance.
• Experience: 5–10 years of relevant experience in treasury, banking operations, forex management, trade finance, and loan management.
• Preferred Skills: Working knowledge of SAP or other ERP systems and treasury management platforms.
• Industry Preference: Experience in manufacturing, capital-intensive industries, or project-based organizations would be an advantage.
• Strong knowledge of treasury and banking operations.
• Expertise in foreign exchange risk management and hedging.
• Sound understanding of trade finance instruments, including LCs, BGs, and SBLCs.
• Strong cash flow forecasting, liquidity planning, and financial analytics skills.
• Knowledge of Ind AS, treasury accounting, and hedge accounting.
• Understanding of loan management, project finance, and covenant compliance.
• Strong negotiation, analytical, and problem-solving skills.
• Effective communication and stakeholder management capabilities.
• Knowledge of SAP, ERP systems, and treasury automation tools.

Internal Stakeholders

• Corporate Finance & Accounts (F&A) Team
• Projects Team
• Information Technology (IT) Team
• Joint Venture (JV) Partner

External Stakeholders

• Banks and Financial Institutions
• Statutory Auditors
• Rating Agencies
• Other Financial and Regulatory Stakeholders, as applicable
• Key Success Factors and Challenges
• Cash Flow and Liquidity Optimization: Ensure accurate cash flow forecasting, effective liquidity management, and efficient working capital utilization.
• Project Financing and Cost Optimization: Support project financing requirements, manage trade finance effectively, and optimize the overall cost of funds.
• Forex Risk Management and Compliance: Effectively manage foreign exchange exposures while maintaining strong financial controls, regulatory compliance, and governance.
• Banking Relationship Management: Establish and maintain an effective banking ecosystem to support the organization's operational and project financing requirements.
• Treasury Systems and Process Excellence: Strengthen treasury processes, controls, automation, and reporting mechanisms.
• Additional Information

This is a newly created position within the Finance & Accounts Department of JSW JFE Electrical Steel Private Limited (J2ES-V), a joint venture between JSW Steel and JFE.

The company is setting up a greenfield CRGO (Cold Rolled Grain-Oriented) electrical steel manufacturing facility at Vijayanagar, with an annual production capacity of 100,000 MT and an estimated project cost of ₹7,102 crore.

The role will support the establishment and management of the treasury and banking framework required to meet the organization's operational, project financing, and long-term financial management requirements.