Job Description

Treasury Manager / Head of Treasury

Banking & Treasury|Cash Flow Management|RBI / FEMA Compliance

CA / CFA / MBA (Finance)|India

Role Details	Treasury Manager / Head of Treasury
Function	Finance & Treasury
Reporting To	CFO / Director – Finance
Location	India (Hybrid / On-site)
Qualification	CA / CFA / MBA Finance — with 8-10 years in treasury, banking, or corporate finance
Experience	Strong Big-4 articleship, bank treasury desk, or corporate treasury background preferred

ABOUT THE ROLE

We are looking for a sharp and commercially minded Treasury professional to own the entire treasury and banking function of the organisation. The role spans cash flow management, working capital optimisation, forex hedging, banking relationship management, and full RBI/FEMA compliance. This is a hands-on, high-ownership role — the incumbent will be the single point of accountability for liquidity, borrowings, and regulatory treasury filings. The ideal candidate combines financial rigour with the ability to negotiate, build banker relationships, and manage complexity across domestic and cross-border transactions.

KEY RESPONSIBILITIES

1.Cash Flow Management & Planning

•Own the daily, weekly, and monthly cash flow forecast for all entities — India and overseas.

•Build a rolling 13-week cash flow model; maintain actuals vs. forecast with commentary on variances.

•Map cash inflows (collections, advances, export remittances) against outflows (vendor payments, debt service, capex, tax) to identify gaps proactively.

•Design and enforce a centralised cash pooling / sweeping structure to minimise idle balances and reduce net borrowing costs.

•Coordinate with FP&A, sales, and procurement teams to align collection timelines and payment terms with liquidity requirements.

2.Working Capital — Sources, Requirements & Gap Analysis

•Conduct periodic working capital analysis: debtor days, creditor days, inventory days, and cash conversion cycle.

•Identify funding gaps and seasonal peaks; build the case for appropriate working capital limits with bankers.

•Manage the full lifecycle of Working Capital (WC) credit lines — CC / OD / WCDL / Export Packing Credit (EPC) / Post Shipment Credit (PSC).

•Optimise the WC mix between fund-based and non-fund-based limits to reduce the overall cost of capital.

•Prepare and present monthly WC utilisation reports to CFO and banking partners.

3.Banking Relationship Management

•Serve as the primary interface with all banking partners — public sector, private, and foreign banks.

•Negotiate and renew credit facilities, sanction limits, pricing, and fee structures on an annual / periodic basis.

•Maintain a competitive multi-bank framework; periodically benchmark rates and services against market.

•Ensure all bank mandates, signatories, and online banking authorisations are current and controlled.

•Build relationships with senior bankers, relationship managers, and treasury desks to secure preferential terms.

•Lead onboarding of new banking partners where diversification of banking relationships is required.

4.Working Capital Lines — LC, BG & Structured Facilities

•Manage Letters of Credit (LC): issuance, amendments, discounting, and usance LC structuring for imports.

•Handle Bank Guarantees (BG): performance guarantees, payment guarantees, bid bonds, and financial guarantees — from application to expiry / invocation management.

•Manage Buyers' Credit / Suppliers' Credit structures and SBLC arrangements where applicable.

•Ensure sanction letters, facility agreements, and security creation / modification are properly executed and filed.

•Track utilisation, expiry, and renewal timelines for all non-fund-based limits.

5.Forex Management & Hedging / Derivatives

•Monitor the company's foreign currency exposure across receivables, payables, loans, and investments.

•Develop and implement a Board-approved hedging policy; execute forward contracts, options, and swaps as appropriate.

•Manage hedge accounting entries under Ind-AS 109 (or applicable standard) including effectiveness testing and documentation.

•Track MTM (Mark-to-Market) positions; present exposure and hedge summaries to CFO monthly.

•Maintain relationships with forex desks of banking partners; obtain competitive quotes for forex transactions.

•Ensure all derivative contracts comply with RBI / FEMA extant regulations on hedging of permitted exposures.

6.Investment of Surplus Funds

•Identify and manage short-term and medium-term investment opportunities for surplus liquidity — FDs, liquid mutual funds, treasury bills, commercial paper, etc.

•Build and manage an investment policy statement (IPS) approved by the Board / CFO defining permitted instruments, tenors, credit ratings, and concentration limits.

•Optimise returns on idle cash within the risk appetite of the organisation.

•Track maturity schedules; reinvest or deploy proceeds in line with cash flow requirements.

•Ensure all investments are properly accounted for and reflected in the treasury MIS.

7.RBI / FEMA Compliance

•Ensure full compliance with FEMA 1999 and all RBI master directions applicable to the company's transactions.

•Handle RBI reporting and filings — FLA (Foreign Liabilities & Assets), ODI, FDI, ECB (Form ECB / ECB-2), APR, OPI, SOFTEX, and any EXIM-related filings.

•Manage EDPMS (Export Data Processing and Monitoring System) and IDPMS (Import Data Processing and Monitoring System) reconciliation and closure.

•Ensure timely realisation of export proceeds and filing of BRC (Bank Realisation Certificate) within prescribed timelines.

•Liaise with Authorised Dealer (AD) banks on FEMA-related queries, obtain necessary approvals or certifications.

•Track regulatory changes; update internal processes to stay compliant with evolving RBI / FEMA guidelines.

•Coordinate with RBI/FEMA consultants for complex transactions — overseas investments, acquisition structures, cross-border loans.

8.Covenant & Compliance Management

•Maintain a master tracker of all financial covenants across all loan / facility agreements (DSCR, leverage ratios, net worth tests, etc.).

•Compute and report covenants on a periodic basis; flag potential breaches early and develop remediation plans.

•Manage lender compliance reporting — stock statements, debtors/creditors ageing, QIS/CMA data, MSME certificates, and annual/half-yearly reviews.

•Ensure all conditions precedent (CPs) and conditions subsequent (CSs) to loan disbursements are tracked and closed.

•Manage security creation and perfection — hypothecation, pledge, mortgage — and coordinate with legal for charge registration with RoC.

•Liaise with credit rating agencies (if applicable) for short-term / long-term instrument ratings.

CANDIDATE PROFILE

Qualifications & Experience

•CA (Qualified) / CFA / MBA (Finance) from a reputed institution.

•8–10 years of hands-on treasury experience in a corporate, bank treasury desk, or financial services environment.

•Demonstrated track record in managing banking relationships and negotiating credit facilities.

•Prior experience with FEMA / RBI filings and forex hedging is non-negotiable.

Technical Skills

•Deep understanding of working capital products: CC, OD, WCDL, EPC, PSC, LC, BG, Buyers' Credit.

•Hands-on experience with derivative instruments: forwards, options, cross-currency swaps.

•Working knowledge of Ind-AS 109 hedge accounting or willingness to learn.

•Proficiency in Excel-based cash flow modelling; exposure to TMS (Treasury Management Systems) a plus.

•Familiarity with SWIFT, trade finance platforms, and online banking portals.

•Strong understanding of CMA data preparation, QIS, and banker credit appraisal processes.

US Market Knowledge, Investments & Strategy

•Working knowledge of the US capital markets landscape — including money market instruments, US Treasury securities, commercial paper, and short-duration bond funds used for corporate cash management.

•Familiarity with the US banking system — Fed funds rate dynamics, SOFR-linked instruments, and their downstream impact on USD borrowing costs and intercompany loan pricing for Indian entities with US operations.

•Ability to manage surplus cash held in the US entity — selecting appropriate investment vehicles (money market funds, US T-bills, FDIC-insured deposits) within a Board-approved investment policy and within SEC/regulatory constraints applicable to corporate treasurers.

•Understanding of USD/INR cross-currency dynamics and their strategic implications — including when to retain USD balances offshore vs. repatriate, factoring in hedging costs, withholding tax, and India’s transfer pricing and FEMA repatriation rules.

•Contribute to US treasury strategy — advising on optimal capital structure for the US entity (intercompany debt vs. equity), dividend repatriation strategy, and working capital funding mechanisms that minimise total group cost of funds

Behavioural Competencies

•Negotiator — comfortable sitting across the table from senior bankers and pushing for the best terms.

•Proactive planner — identifies cash gaps weeks ahead, not on the day of a payment.

•Detail-oriented — zero tolerance for missed covenant deadlines or regulatory filing lapses.

•Commercially aware — understands how treasury decisions affect P&L (interest cost, FX gains/losses, opportunity cost).

•Discreet and trustworthy — handles sensitive financial and banking information with appropriate confidentiality.

PREFERRED EXPERIENCE SIGNALS

Multi-bank credit facility management	Surplus fund investment management
LC / BG lifecycle management	Ind-AS 109 hedge accounting
Forward contracts & options execution	Export finance (EPC / PSC / PCFC)
FEMA / RBI filings (ECB, FLA, ODI, EDPMS)	Cash pooling / notional pooling
Covenant compliance tracking	Trade finance — Buyers' / Suppliers' Credit
CMA / QIS data preparation	Big-4 / bank treasury desk background

WHY THIS ROLE

•Full ownership of the treasury function — not a support role, but the decision-maker seat.

•Exposure to a complex, multi-currency, cross-border operating structure rarely available at this level.

•Direct line to the CFO and Board on treasury strategy, policy, and banking decisions.

•Opportunity to build treasury infrastructure from the ground up — systems, policies, and controls.

•Competitive compensation with performance-linked upside tied to measurable cost-of-capital outcomes.

Ayr Energy

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