Director of Treasury Management
Job Description
Job description
Title: Director of Treasury Management
Hiring Agency: Office of Accountant General
Category: Accountant
Reporting to: Accountant General of Khatumo State of Somalia (KSS)
Workstation: Las’anod, SSC-Khatumo State of Somalia
1. Background
The Accountant General of SSC-Khaatumo shall be responsible for the compilation and management of the accounts and the custody and safety of the public money and public property of the Government, and for that purpose, the Accountant General may give such instructions of a general or specific character to Heads of MDAs as may be necessary for the effective implementation of the purposes and provisions of the Act.The Treasury function in the Office of Accountant General of Khatumo State of Somalai undertakes the following functions and responsibilities in the control of government payments and transfers:
2. Duties and Responsibilities
Banks Accounts
• Maintain a register of all bank accounts of the SSC-Khaatumo, including account details, purpose, authorized signatories, and specimen signatures
• Update the bank account register with details of newly opened accounts including the name and number of the bank account; The purpose of the account (e.g., expenditure, revenue collection, trust funds, project designated account); Date the account was opened; The bank and the branch, if applicable; The names of authorized account signatories and individual authority limits if applicable; and Copies of specimen signature for each of the signatory.
• Designate authorized signatories on a list of approved SSC-Khaatumo bank account signatories, specifying their roles, responsibilities, monetary limits, and conditions.
• Official bank accounts shall not be opened without the approval of the treasury, the treasurer shall issue such instructions as are necessary both to the banks and to the officials concerned regarding the conditions attached to SSC Khaatumo State Accounts
Cash Management
• Prepare and submit annual, quarterly, and monthly cash flow forecasts to the Treasury Management Committee (TMC).
• Issue guidelines to MDAs of SSC-Khaatumo for preparing and submitting cash forecasts
• Ensure that adequate cash resources are available to cover commitments before they are authorized
• The Treasurer collaborates with Ministries, Departments and Agencies (MDAs) to enhance the
accuracy and reliability of their cash flow projections
• Obtain the necessary information from MDAs, including copies of valid business licenses, for all vendors and record it.
• Verify the accuracy and completeness of vendor registration records before authorizing any commitment or payment.
• Ensure Purchase Order presented by supplier is duly signed by the supplier.
• Process payments by direct payments, and any other means in the most efficient manner to
bonafide payees without loss to the Government.
• Review Payment (Expense) Vouchers (PVs) for accuracy, completeness, and adequacy of supporting documentation.
• Validate commitments to ensure they are charged to the correct budget lines.
• Ensure that supporting documentation accompanying Payment (Expense) Vouchers includes a payment verification checklist.
• Ensure that Signatures on Payment (Expense) Vouchers/payment instructions should match those of the authorized signatories – refer to specimen signatures
• Ensure the budget lines charged with the committed expenditure are Correct
• Implement appropriate cash management procedures to ensure adequate cash resources are available to meet salary payment obligations.
• Verify the accuracy of the civil servant payroll list, including salaries, allowances, and deductions.
• Analyse period-to-period changes in the payroll list to ensure all additions are valid and supported by adequate documentation
• Verify PV against monthly payroll reports
• If funds available Generate EFT instruction & payroll payment schedule
Travel Advances
• Review the PV for travel advances, ensuring accuracy, validity, and completeness of supporting documentation.
• Prepare payment instructions and issue them to the Khaatumo State Banks for travel advances.
Bank Reconciliations
• Supervise the preparation of a monthly reconciliation statement of the consolidated fund by comparing the bank account statement with the balances in the SFMIS.
• Ensure that differences arising from the monthly reconciliation are investigated and promptly resolved, documenting actions taken for unresolved differences.
• Ensure that all differences identified in the General Ledger after posting from subsidiary books are investigated and remedial action is taken.
• Ensure previous bank reconciliations are checked to confirm outstanding items and errors from the last reconciliation no longer appear as reconciling items.
• Ensure that any items outstanding from the previous bank reconciliation are explained in writing on the face of the bank reconciliation, indicating their status and planned follow-up action
Petty Cash
• The amounted determined by the AG, the treasurer should follow up the amount of money
• The treasurer should follow up on the sum specified by the AG to be used as petty cash by MDAs.
• Receive a reconciliation of the petty cash account from each MDA petty cash custodian on or before the 10th calendar day of the following month.
• The treasurer should verify that the PV, the Invoice and the inspection reports tally
• If funds are not available and an overdraft is not allowed, the transaction is stopped until funds are made available.
• The treasurer should generate an EFT instruction for payment if the information on the PV matches the support documents and funds are available or Overdraft is allowed.
• Submitting EFT payment instructions to the Accountant General for approval
• Process all payments from the consolidated fund bank account and special bank accounts maintained at the Khaatumo State Bank
• Ensure all payments are within the adopted budget of the public entity, legitimate and adequately supported;
• Ensure all payments are within the cash limits set by the Treasury Management Committee;
• The department tracks and reconciles outstanding payments to ensure completeness and accuracy
of financial records.
• Keep timely, comprehensive and accurate records of outstanding public debt including information about principal etc.
• Prepare forecasts on Government debt servicing and disbursements as part of the yearly budget preparation.
• The Treasurer is responsible for the daily management of the TSA, through which all government revenue and payments are processed.
• Treasurer prepares forecasts encompassing all bank accounts under the TSA, in other words ,
• The Treasurer is responsible for ensuring the CoA is up-to-date and reflects the current classification of government financial transactions.
• Treasurer should prepare Daily Revenue and Expenditure movements Report for Each Region.
• Prepare monthly bank reconciliations and take remedial action on outstanding items;
• The Treasury Management prepares monthly, quarterly and annual Treasury Reports containing all transactions through the consolidated fund account and special bank accounts with the Khaatumo State Bank indicating all revenues, all payments and transfers, opening and closing balances and transfers any balances.
• Archive all transaction documents in accordance with OAG policies and regulations.
• Supervise the budget and deal with any necessary variation
• Control the work of the cashiers and Regional Accountants.
Skills and qualifications
Educational Qualifications: A Bachelor’s degree in Accounting, Finance, Economics, or a related field.
Professional certification (e.g., ACCA, CFA,CPA, or equivalent) is highly desirable.
Work Experience: At least 4-5 years of experience in financial reporting, accounting, or auditing, with significant experience in public sector financial management. Proven experience in preparing financial statements, implementing financial reporting systems, and ensuring compliance with accounting standards. Experience working with government agencies, international organizations, or donor-funded projects is an advantage.
Skills and Competencies: In-depth knowledge of public sector accounting, financial reporting frameworks, and applicable international standards (e.g., IPSAS). Proficiency in financial software (ERP systems, Microsoft Excel, etc.) and financial management tools. Strong leadership and management skills, with the ability to lead and motivate teams. Strong communication skills with the ability to present financial information to both financial and non-financial stakeholders. Exceptional attention to detail, organizational, and problem-solving skills. Ability to work under pressure and manage multiple priorities while meeting deadlines.
