Sephora Middle East
Position Purpose
The Treasury Manager leads all Treasury activities and projects across the Middle East Region
Key Accountabilities
- Oversee the cash flow analyses, forecasts, reports and steering
- Lead cash flow forecasting (pre-Budgets, Budgets, revised Budgets, Strategic Plans, monthly rolling forecasts) and be responsible for their accuracy.
- Supervise payments follow up and cash steering to ensure cash KPI’s are achieved (working capital, operating cash flow generation, cash conversion, etc.).
- Report cash results and analyses to key stakeholders (local and global management, shareholders, banking partners, etc.).
- Secure the liquidity of Sephora ME entities
- Implement and manage domestic and cross border cash pools as well as ad hoc banking solutions to centralize cash management and secure liquidity for all affiliates, in all required currencies.
- Lead initiatives and strategies to optimize cash concentration: negotiate MT101 agreements with banks, streamline banking structures, adapt settlement instructions and standing orders, adjust inter-company loans and payments, including dividends.
- Lead negotiations on credit facilities, maintain and develop relationships of trust with banking partners.
- Responsible for cash optimization
- Supervise short term investment activity (term deposits) and FX operations.
- Benchmark and negotiate bank fees as well as cross currency balance optimization solutions to minimize financial costs and maximize cash remuneration.
- Lead initiatives and strategies to release trapped cash: build relations of trust with suppliers and landlords to negotiate better payment terms, reduced security deposits or their replacement with bank guarantees.
- Drive continuous improvements on systems structures and treasury operations
- Centralize the bank statements receipt and payment instructions sending as well as bank guarantees management.
- Roll-out host to host solutions to improve productivity and control.
- Leverage the Treasury Management System (Kyriba) to optimize processes and reports, develop digitalization and automation.
- Define, develop and maintain a system of policies and procedures to reinforce and guarantee the control over treasury activities (formalized processes, segregation of duties, e-banking platforms administration, data management, etc.) in coordination with global and regional internal control departments.
- Act as a Business Partner
- Adapt the banking structure and find solutions to the various business needs and constrains in collaboration with Operations (Retail & E-commerce teams), Finance, Legal, Internal Control, IT departments among others.
- Spread the cash culture within the organization.
- Manage and contribute to the growth of the treasury team.
- Support the Finance department on the landlord charges budgeting and follow-up
Profile / Key Skills:
The individual should have the following experience:
- Master’s degree in Finance, Accounting, Controlling or professional Certification in Corporate Treasury.
- Min. 5 years of experience in Treasury / Cash Management within an international structure.
- Knowledge of treasury and internal control processes best-practices
- In-depth knowledge of international cash management structures and intercompany funding solutions.
- Experience working with a leading Treasury Management System.
- Ability to understand legal concepts and documentations.
- Team player with the ability to communicate and coordinate with multiple parties and to deal with ambiguity.
- Proactive, hands-on and solution oriented.
- Excellent time management, organization, task prioritization, and problem-solving skills.
- English speaker, written and spoken. French and Arabic are a plus.
COMPANY OVERVIEW:
SEPHORA has been changing the face of prestige cosmetics since its debut in 1970s Paris. Sephora was acquired by luxury group Moët Hennessy Louis Vuitton (LVMH) in 1997 then launched stateside in 1998, and is currently home to 200 world-class brands – including its own private label, SEPHORA COLLECTION. Sephora’s curated assortment features more than 14,000 products including makeup, skin care, perfume, hair care, body, professional tools and more. Sephora is the beauty education hub, offering consultations at the Beauty Studio, a variety of complimentary classes, one-on-one service from Personal Beauty Advisors, and exclusive retail technology SKINCARE IQ, COLOR IQ, and FRAGRANCE IQ. Sephora is an international force in beauty, and its award-winning website and ever-growing presence on social-media make it the world’s premier digital beauty destination.
