Treasury Accountant at Newmont Goldcorp Corporation

About This Role:

• To monitor and manage company cash flow, investments, and reclamation bonding.
• To manage banking relations, provide treasury support for projects and other banking activities.

Main Responsibility Areas:

Forecasting and Monitoring

• Compile weekly, monthly and periodic cash flow forecasts and bank account monitoring and determining the cash needs and the currency needs (GHS or USD), verifying that account balances and investment classifications are in line with corporate treasury standards.
• Cash needs are sent to the Assistant Controller- centralised services.
• Report bank and investment balances to Denver Treasury.
•  Determine intercompany loan repayment based on cash availability and excess funds to be invested.
• Collate cash needs for various sections like tax, accounts payable and others, in order to make provisions for contingencies and other pending payments.
• Ascertain cash needs and resolve through cash calls from Citibank, USD sales to local partner banks, by collating the daily forex quotes and selecting the highest bidder within the stipulated time or loan requests from corporate when there is shortage of funds.

Treasury Related Reconciliations

• Prepare all Newmont Ghana Gold Limited and Newmont Golden Ridge Limited bank reconciliations and other treasury related reconciliations.
• Verify that all reconciliation issues are resolved with the partner banks.
• Review the reconciliations by checking the bank balance, main General Ledger (GL) and sub-Ledger accounts and open items and their classifications.

Treasury Support

• Provide treasury support for projects by certifying timely funding of project accounts, Bank statement download and loading in SAP, preparing project bank accounts reconciliations and resolving reconciliation issues, validating bank charges, liaison between EPCM and Partner banks and preparing monthly payment accruals to verify that project costs are properly captured.
• Support with proper updates in Mineman (bullion software), running valuations to determine ounces balance at month end and reconciling Dore sales and sending appropriate reports to Financial Reporting and performing quarterly and yearly reconciliations between Mineman balances and Valcambi statements.

Accounting

• Monitor Gold and Silver sale accounting by determining what should be recognised as revenue and any loss or otherwise to be expensed
• Guarantee appropriate and timely retention to nominated banks based on investment agreement on shipment by shipment basis and reporting retentions, shipment values and shipments dates to nominated banks on monthly basis by collaborating with shipper to get shipment details for reporting to Banks
• Assess the retention amount based on Newmont Ghana Gold Limited and Newmont Golden Ridge Limited investment agreements and a cash call is done to send the cash from Citibank to Local nominated banks.

Correspondence / Communications

• Act as Newmont’s Correspondent with partner banks on payment issues, bank charges and interest issues, account opening and closure, authorised signatory classification changes, additions and deletions, access to bank platforms, Employee Corporate card issues and sending Instructions to banks.
• Act as support in the Newmont Reclamation Bonding with Banks.
• Liaise with partner banks, and Accounts Payable. Follow up on unsuccessful payments with banks and report on monthly’s basis EFTs not cleared and stale checks to Accounts payable, monthly bank charges and interest reviews.

Statement Management

• Download weekly and month-end mt940 statements and monthly reclamation cash component statement requests.

Training & Experience:

Formal Qualification (including Professional Registrations):

• Bachelor’s Degree with a major study area of accounting / finance or an equivalent level of experience and professional qualification.

Additional Knowledge:

• Knowledgeable about the banking industry.
• Knowledge of the Central Banks Regulations.
• Knowledge about investment options.
• General accounting knowledge.

Experience: 

• Between 5 to 7 years’ experience in treasury, banking and payroll.

Technical Skills:

• Strong interpersonal relationship skills.
• Problem solving skills.
• Ability to identify and analyse organisational needs.
• Demonstrate supervisory skills.
• Advanced verbal and written communication.

Behavioural Attributes:

• Professional.
• Respect.
• Assertiveness.
• Influential.
• Customer focused.
• Integrity
• Trustworthy
• Confident.
• Reliable.
• Independent.
• Safety conscious.
• Uses Initiative.
• Results driven.
• Pro-active.
• Accurate.
• Continually Learns.
• Works under pressure

Working Conditions:

• Extended and unpredictable working hours is the norm.