Foreign Payments Manager

SUMMARY:
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POSITION INFO:

PURPOSE OF JOB:

The Imports Foreign Payment Manager will be responsible for carrying out accounting and administrative duties such as, procurement of Foreign Currencies, managing the exchange rates, processing and payment of Suppliers’ invoices, reconciliation of statements, remittance advice, oversee the checking of local creditor payments.

MINIMUM REQUIREMENTS / QUALIFICATIONS AND/OR EXPERIENCE

1. Grade 12 with a Tertiary Accounting qualification

2. At least 5 years experience in Foreign Import department, working with Foreign payments and Forex Trading.

3. Trade System experience (Tradecloud advantageous)

4. Financial System (Sage Advantageous) is required.

5. Local and Foreign creditor payment Knowledge

KEY PERFORMANCE AREAS:

This position will be responsible for the following 4 Key Performance Areas:

1. Financial KPA: To process Import payments within SARB regulations, manage the Group’s Forex requirements and verify local creditor payments. Oversee banking requirements as well as cross-border payments.

2. Customer KPA: To enhance customer experience and maintain high service levels and maintain SLAs with internal and external customers.

3. Operational KPA: To ensure efficient functioning of Forex purchases and foreign creditor payments.

4. Learn & Grow KPA: To enable Import Staff to perform competently in line within legation within client SOPs

KEY PERFORMANCE AREA

(RESPONSIBILITIES)

MEASURE | KPI

(WHAT SUCCESS LOOKS LIKE)

Financial Responsibilities:

1. Manage Import payments within SARB regulations, manage the Group’s Forex requirements and verify local creditor payments. Oversee banking requirements as well as cross-border payments.

· To ensure the best practice on Forex purchases, Posting of foreign payments, Preparing supplier remittance advice capturing payments on Banking system. Balancing of the monthly CFC accounts. Checking local creditor payments and cross border payments.

Customer Responsibilities:

1. Internal Customers

(Export requests)

2. External customers

· Ensuring the processes are adhered to and internal customers

are following the requirements and procedures within agreed lead times.

· External customers to ensure processes meets legislative requirements with SARB, SARS, Local bank.

· Ability to establish and maintain good client relationships, both internally and externally at all levels.

Operational Responsibilities:

1. Forex purchases and Costing Rates

· Ensure best practice on Forex purchasing using protection strategy as far as possible.

· Ensure best practise on rates for costing, taking in consideration, levels at time of costing.

· Ensure deals are secured for uncovered periods.

· Forecasting Forex requirements based on monthly reporting for all major currencies.

· Ensure to stay current on financial developments.

2. Process foreign payments

· Oversee all payment transactions within the Import department.

· Ensures that systems, policies, and procedures adhere to company policies while functioning with accuracy.

· Ensure accurate recons and payments to foreign suppliers, Ensure bank details verification.

· Ensure track record of the status of all transactions.

3. Balancing of CFC account

· Ensure monthly balancing of CFC accounts

4. Checking all local creditor recons, weekly and monthly.

· Ensuring accurate processing of local creditor payments

5. Checking Journals processed

· Ensuring accurate processing of Journals.

6. Escalations and Exceptions

Exceptions:

a) Import Manager to be advised of :

b) Supplier payments are delayed for any reason

Escalations:

c) Supplier’s not paid on time.

d) Forex abnormalizes on deals

e) System problems

f) Unbalance CFC accounts

Learn & Grow Responsibilities:

1. Team Development

· On the Job-training for Import employees

· To maximise training to gain more experiences and ensure good quality.

· Report training needs, areas of improvement.

· Maintain a daily learning culture based on operational and team development skills.

2. Performance Management

· To ensure performances is in line with SOP

3. House Keeping/ Cleanliness

· Maintain ATT culture and values to align reputational conduct.

· Participate in ad hoc projects.

· Ensure work area is neat and conducive to a constructive and efficient work- flow environment.

· Ensure filing is done weekly, with no paperwork lying around.

· SOP for cleanliness and work environment

4. Succession Strategy

· Ensure Transfer knowledge of the role is done.

· Ensure On-the-job-Training to be done

5. Resource Allocation

· Advise the manager if resources need to realign if absenteeism.

DECISION MAKING CRITERIA

1. Costs - Supplier pricing queries not matching the Purchase order

2. Risk – price errors

3. Customer experience – delays in the system that is delaying a customer – make a decision to overrule

4. Efficiency – make a decision/ or change the process if efficiency is compromised.

COMPETENCIES REQUIRED:

Knowledge:

1. In-depth knowledge of Foreign payments

2. Knowledge of shipping industry regulations

3. SARS legislation: Tariffs and Duties application

4. Bond Store Management

5. MDP programme

6. NRCS, PRCC and Import Permits

7. Homologation regulations

8. Exchange rates

9. ITAC Permit

10. VAT rules for Export

11. Port Rules

Skills:

1. Must be accurate and pay attention to detail

2. Computer Literate

3. organised and able to multitask

4. Emotional Intelligence to deal with a high pressurised atmosphere

5. Participative and able to work as part of the team.

6. Ability to meet deadlines.

7. work well under pressure

Attitude / Behavioural Requirements (Compulsory):

1. Focused

· I am focused on the goals and vision of the department and the company

2. Time and Energy

· I am committed to put in time and energy to solve a problem

3. Trustworthiness & Ethics.

· I am big on being trustworthy and to be ethical, as a leader this attitude/behaviour filters down to your team.

4. Trust

· I trust my Team to be honest even if things go wrong so we can fix it.

5. Results Orientated

· I am committed to ensure the team delivers on all their responsibilities

6. Change the mood

· I am able to regulate the mood when conflict happens.

7. Adopt a growth mindset

· I am always looking for growth opportunities in any area of control

8. Contingency plans

· I will always look for a contingency plan is time of crisis to help situation

9. Generally optimistic

· I am generally optimistic and keep the team in this attitude

10. Want to succeed

· I genuinely want the company to succeed as it a great company to work for. It takes care of many employees and families

11. I care!

· I care for the leadership and the fellow employees and our customers and business partners

12. Uplift others

· I motivate others when they are down to increase productivity.

Job Tools:

1. Work station

4. Rate Card

2. Training

5. SOPs

3. Imports Manual

Support From:

1. Direct Manager

2. Stores

3. Sales Managers

4. Other Line Managers

5. Service Providers