Full Time Treasury Accountant for Newmont Mining Corporation
Newmont Mining Corporation is a leading global gold producer with key assets in Nevada, Peru, Australia, Ghana and Suriname.
Newmont’s Africa Operations holds two gold mining operations in Ghana: the Ahafo Mine located in the Brong-Ahafo region and the Akyem Mine located in the Eastern region. There is also near mine exploration and development focus in Ghana to annually replace gold reserves. Newmont Africa also has early-stage exploration programs in the African countries of Ethiopia and Morocco.
Our Africa operations employ approximately 5,900 employees and contractors, with the majority working at the Ahafo Mine. We offer an unparalleled blend of opportunity and career satisfaction with all the benefits you would expect from a global company. This, combined with our growth opportunities, makes Newmont a great company to work.
Our Akyem and Ahafo mines have made significant sustainable community development investments in our host communities. These include establishing Development Funds at our Akyem and Ahafo operational areas with each mine contributing US$1 per ounce of gold sold and 1% of net pre-tax annual profit into its community development fund.
The only gold company listed in the S&P 500 index, Newmont in 2007 became the first gold company selected to be part of the Dow Jones Sustainability World Index. Newmont’s industry leading performance is reflected through our Africa operations’ high standards in environmental management, health and safety for our workforce and creating value and opportunity for our employees, host communities and Newmont’s shareholders.
Are you an individual who can work in adherence to Newmont’s core values of;
- To monitor and manage company cash flow, investments, and reclamation bonding.
- To manage banking relations, provide treasury support for projects and other banking activities.
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.
- 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.
- 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.
- Download weekly and month-end mt940 statements and monthly reclamation cash component statement requests.
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.
- Knowledgeable about the banking industry.
- Knowledge of the Central Banks Regulations.
- Knowledge about investment options.
- General accounting knowledge.
- Between 5 to 7 years’ experience in treasury, banking and payroll.
- Strong interpersonal relationship skills.
- Problem solving skills.
- Ability to identify and analyse organisational needs.
- Demonstrate supervisory skills.
- Advanced verbal and written communication.
- Customer focused.
- Safety conscious.
- Uses Initiative.
- Results driven.
- Continually Learns.
- Works under pressure
- Extended and unpredictable working hours is the norm.
Our business success comes from the accomplishments and well-being of our employees and contractors. Our goal is to build a workplace culture that fosters leaders and allows every person to thrive, contribute, and grow. We are committed to selecting and developing our employees, and to establishing a work environment where everyone can take an active part in reaching our strategic goals while feeling a sense of pride in working at Newmont.
Newmont seeks to recruit, hire, place and promote qualified applicants, meaning applicants who meet the minimum requirements of the position, without regard to personal characteristics such as gender, race, nationality, ethnic, social and indigenous origin, religion or belief, disability, age or sexual orientation or any other characteristic protected by applicable law.
NOTE: Newmont does not ask for or require job applicants to pay money to apply or be considered for employment with the Company. In addition, Newmont does not ask potential job candidates to provide sensitive personal data without first submitting a job application through our secure, online portal, and only as requested for legitimate business purposes. If you are asked to provide money or sensitive personal data through any other means, do not respond and please report this immediately to email@example.com.
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