Interswitch Limited Job Vacancy for a Tax & Treasury Manager, June 2014

Interswitch Limited is an electronic transaction switching and payment processing company with a business footprint that covers the provision of shared, integrated message broker solutions for financial transactions, e-commerce, telecoms value-added services and e-billing in the Nigerian environment.


The company is an independent, private sector led, limited liability Company focused on facilitating the exchange of value between service providers (financial, telecommunications and utilities), merchants, their customers, & other stakeholders on a timely and continuous basis nationwide.

At Interswitch, we offer unique career opportunities for individuals capable of playing key roles and adding value in an innovative and fun environment.


Job Title: Tax & Treasury Manager
Job description

•     Manage all 'heads of tax' for the group, optimizing the group effective tax rates for both direct and indirect taxes while ensuring compliance in all territories operated in.
•     The group's current and projected cashflow is regularly and accurately reported and explained.
•     Provision of timely and accurate decision support to the business with respect to Tax and Treasury input as applicable to commercial transactions, intra-group activities, acquisitions, business start-ups etc.
•     Manage Treasury operations across the group ensuring that:
•     Working capital requirements are clearly understood and effectively managed
•     Optimal investment of excess cash (excess to working capital)
•     All foreign exchange exposure are identified and managed

•     Timely and accurate delivery/payment of all monthly tax returns/payments (PAYE, VAT, WHT and Income Tax etc.)
•     Monthly reconciliation of all balance sheet tax accounts
•     Monthly review of the group's financial results from a tax perspective and sign off that all tax matters are in order
•     Maintain and circulate a monthly log of all open tax issues (with actions and timelines for closure)
•     Maintain the group legal entity structure ensuring it is structured in an optimal manner (in conjunction with the group legal department)
•     Advisor on dividend payments, banking arrangements, intra-group activities, CSR foundation, ePayments managed fund and other business matters.
•     Ensure timely collection of withholding tax certificates
•     Document and maintain appropriate policies for operating & managing all 'heads of tax'
•     Manage transfer pricing across the group
•     Prepare and file (working with external tax advisors) annual tax returns
•     Manage all tax audits
•     Continuously review developments/changes in tax policies ensuring that such information is effectively communicated and with appropriate actions taken
•     Manage relationship with all relevant external advisors and regulators

•     Day to day management of working capital
•     Review of all bank reconciliations (at least monthly)
•     Manage all banking relationships
•     Preparation of detailed monthly cashflow report (with commentary), including both the current and projected positions
•     Production of data for completion of risk management disclosures in the annual financial statements as it relates to FX risk, credit around receivables etc.
•     Managing all bank charges, cost of financial instruments and interest rates in an optimal manner
•     Ensure that group is fully complaint with all country regulations with regard to the flow of cross border funds
•     Manage/optimize all intra-group funding, loan agreements etc.
•     Advisor to the business on structuring commercial agreements, new products and services, business set-ups, M&A activity etc.
•     Document and maintain appropriate policies for operating & managing all treasury related activities.
•     Lead cashflow planning from a forecasting, budgeting and medium term planning perspective
•     Regular review and oversight of the group's capital structure and dividend policy
•     Working across the financial group to understand all matters relating to treasury management, including receivables, payables, fx, business performance, capex etc.
•     Manage FX exposures across the group
•     Optimal investment of excess cash (excess to working capital)
•     Working with the settlement team, manage the set-up, overview and operations of all settlement accounts (both domestic and international)
•     Working with supply chain to manage the importation of goods and services (Letters of credit etc.)
•     Prepare and present a monthly treasury report

•     Key contributor to business strategy, proactively advising from tax and treasury perspective.
•     key contributor to continuous process improvement across the group, identifying, advising and implementing systems and process improvements.
•     Proactive participation in initiatives such as roll-out of ERP and business intelligence tools, M&A activities etc.

•     Timely completion of tax returns
•     Timely completion of relevant balance sheet reconciliations
•     Reduction in outstanding WHT certificates of X.
•     Design and delivery of agreed internal training programmes (tax and treasury matters).
•     Delivery of budgeted cashflow and interest
•     Timely and accurate cashflow, tax and treasury reporting
•     Optimal FX management
•     Delivery of agreed systems and process improvements
•     Tax compliance
•     Delivery of budgeted effective tax rates
•     Internal customer feedback
•     External customer feedback
•     Full and effective implementation of transfer pricing across the group
•     Effective implementation of ERP from a tax perspective

•     Bachelor’s Degree in Finance, Accounting, Business Administration or
•     related field
•     Relevant accounting qualification, Tax and treasury qualifications
•     Minimum of 6 years relevant experience

•     All aspects of tax to a detailed level
•     Detailed understanding of treasury
•     Detailed understanding of accounting and business
•     Strong appreciation of accounting, tax and treasury systems
•     Very competent in financial modeling, analysis and reporting

•     Manage and prioritize time
•     Plan and organize and schedule work
•     Team work and collaboration
•     Innovation and creativity
•     Integrity
•     Problem analysis
•     Performance management
•     Strategic Perspective

•     Excellent oral communication
•     Excellent written communication
•     Highly attentive to detail
•     Ability to multi-task
•     Ability to work well under pressure
•     Adaptive to change
•     Leadership
•     Organizational awareness
•     Customer orientation
•     Industry knowledge
•     Work planning
•     Confident
•     Friendly and approachable