Our client is an established Crude and Oil Products trading company based in London, with physical assets across Europe. They actively source, refine, market and trade Crude Oil and Oil products, and associated financial derivatives.
Key Responsibilities:
Reporting directly to the Head of Head of Group Treasury, the Treasury Manager will be responsible for:
1. Managing daily cash positions and forecasting to ensure liquidity requirements are met.
2. Developing strategies to optimise cash balances, investments in liquidity funds and pooling of cash.
3. Evaluating and mitigating financial risks including foreign exchange, interest rate hedging and help report to CFO balance sheet risks.
4. Assist the Trade Finance department in holiday cover for daily transaction management operations, including factoring submissions, Letters of credit issuance and checking margin calls with brokers are accurate.
5. Oversight of the daily bank reconciliations for all business units and all their payments, to monitor the Working Capital position.
6. Management of the Treasury Management System at Group and operational level including training of all users
7. Ensure data integrity between the trading and accounting systems, investigating or highlighting exceptions where necessary.
8. Managing the development and delivery of any treasury projects covering all aspect of treasury management
9. Managing day to day banking relationships to maintain the Group Foreign Exchange lines, factoring facilities and banking services in line with business needs.
10. Line management of small treasury team
11. Reporting funding shortfalls and forecasting payables / receivables in multi currencies and any related Foreign Exchange
12. Working with Business Units to mitigate foreign exchange exposure.
13. Reporting FX derivatives to Trade Repository in line with EMIR Regulation requirements
14. Setting up MT101/MT940/MT942 swift messages with FIDES for all local bank accounts to increase visibility and control of the Group on local cash management.
15. Maintenance of banking mandates for all bank accounts, ensuring they are in line with Group Treasury policy and Group structure.
16. Supporting Business Units with their cash forecasting process
17. Annual audits of all banking mandates of Group ensuring they are in line with Delegations of Authority
18. Ensuring compliance with treasury policies, sharing of best practice, and coaching of local treasury teams
19. Ensuring there is a sound system of internal controls within the Treasury function and across the Group.
Required Qualifications, Competencies & Technical Skills:
Candidates for this role should hold professional accountancy and treasury qualifications and have gained several years of international corporate treasury experience. Applicants will need to demonstrate a pro-active, can-do attitude to join this small team at such a pivotal time for the Group.
20. Graduate with a bachelor’s or master’s degree in business or other financial area.
21. Professionally qualified or working towards a qualification in accounting, treasury or corporate finance would be advantageous (ACA, ACCA, AMCT, MCT or CFA)
22. Minimum 7years of experience in international treasury
23. Comprehensive understanding of financial and capital markets including commodity derivatives and margin calls
24. A background in commodities, energy and oil would be preferred.
25. Excellent analytical and quantitative skills
26. Sound understanding of accounting, legal and tax standards.
27. Ability to work to daily cut off times.