Register Your Interest - Treasury Placement
Primary Purpose of the Job
Reporting to the Treasurer, this role is split between daily operational duties and monthly tasks.
These tasks help ensure; sufficient liquidity is maintained for current operations and future growth, competitive market rates are achieved (and hedged), funding is diversified and has a maturity structure aligned with the businesses assets.
Daily - The role is responsible for accurate and timely completion of the daily reporting for the opening and closing cash position, outstanding borrowings and arranging for the processing and signing of all loan repayments and swap payments. It will also support the Treasury team with the preparation of the daily cash flow forecasts and borrowing/deposit requests to Treasury Front Office.
Monthly – The role will also be responsible for some monthly reporting tasks, data investigations and reconciliation of the opening cash balances, swap schedules and payments including reporting to HQ. Further duties include the preparation of all future swap payments and working closely with both the rest of the Treasury and Structured Finance teams on ad hoc tasks as required.
Main Responsibilities
Daily processing tasks
* Accurate and timely preparation and management of the “daily cash sheets” and payments for Volkswagen Bank Branch UK, VWFS UK and MAN FS to strict deadlines. This means that the Treasury team are furnished with an understanding of the cash position of the entities (to permit them to borrow sufficient funds/ place surplus funds on deposit) and that all necessary payments are prepared to repay existing, maturing loans / place monies on deposit.
* Investigating differences between the forecast and actual closing balances each day and providing an explanation. This ensures timely error identification of any significant overnight movements in the entity bank accounts.
* Working closely with the Treasury team regarding daily cash flow and loan/deposit requirements. This ensures that all entities have sufficient and economical funding each day to continue their trading activities.
* Ensuring payment requests for all maturing loans are prepared and signed on a daily basis including the planning of Finance Management signature availability. This ensures that the payments are signed by the correct signatories and can then be processed. This maintains the controls around the payment process.
* Accurately maintaining the loan portfolio spreadsheets to ensure that all loan liabilities are recorded, resolving differences and providing commentary on exceptions. This ensures that the Treasury team can accurately forecast the liquidity requirements to meet liabilities falling due and have sufficient funds for their day-to-day activities.
* Monitor bank accounts for all entities on a daily basis and confirm expected payments and receipts to the Treasury team or relevant party, escalating any issues when necessary. This ensures timely error identification of any significant movements in the entity bank accounts.
* Review and resolve any issues arising within the suspense accounts related to Treasury cash flows.
* Maintaining and monitoring Treasury Mailbox – responding to internal and external queries arising.
Monthly and ad hoc tasks
* Responsible for the accurate and timely preparation of all monthly swap payments. To ensure that all of our liabilities under the swap agreements with external parties are settled in line with their scheduled maturities.
* Responsible for maintenance all of swap schedules, month end processes and postings, receipt of confirmations and other swap activities as necessary. To ensure complete records of the liabilities arising under the swap agreements to support accurate monthly financial reporting.
* Support the Treasury team with month end tasks, including month end reporting, interest accruals and reconciliations. To gain experience of new tasks and support month end tasks being completed in line with monthly reporting timelines, and to ensure that the monthly reporting records of the businesses are accurate and complete.
* Responsible for the timely reporting of monthly team KPIs. To evidence the monthly team performance to senior management.
* Constantly seek to improve processes and procedures, initiating and supporting the required changes to drive operational efficiencies. Helping the business to save time and become more cost efficient through streamlined processes.
* Ensure procedures, process maps and all other appropriate documentation exists for each type of submission and are kept up to date in line with changing reporting requirements.
* Help prepare Management Information packs and perform ad-hoc investigations required by the Liquidity and Market Risk Committee. To complete investigations that may support conclusions that could impact the funding and costs of the businesses.
* Provide economic & political commentary and insight to help form expectations on future interest and exchange rates.
* Providing weekly reporting of Treasury data for Regulatory Reporting Team.
* Act as cover for the Treasury Accountant as necessary.
Principal Contacts / Working Relationships
* Treasury team – Working closely with the Treasury team on a daily basis with effective communication to ensure all figures are accurately recorded and any issues are identified and resolved in a timely manner.
* Bank Processing team – Daily contact required with the Bank Processing team to ensure all known receipts and payments are recorded and the cash position is accurately forecasted.
* Finance Senior Management team – Build relationships to ensure all daily payments are signed. The role takes responsibility for ensuring daily signatories are available.
* Board Members – Build relationships to ensure all daily payments are signed. The role takes responsibility for ensuring daily signatories are available.
* Structured Finance team –the role is key operational link between the Structured Finance team and Treasury team, this is particularly important on the monthly ABS payment dates.
* External banks –Liaising with external banks to ensure that all supporting paperwork is received and query any items that look incorrect.
* Auditors – Liaising with both internal and external auditors as support for the Treasury team.
Decision Making Scope
The role works autonomously and takes responsibility for investigating and resolving payment related issues and escalations where necessary.
There is focus on process streamlining and the role holder will be required to critically review process and propose and manage improvements.
Key Challenges
* Independently managing workload and ensuring daily critical tasks are completed in line with tight timelines.
* Understanding the daily availability of the Finance Senior Management team/Board of Management and being able to manage the payment signing process.
* Driving change to existing processes across two teams.
* Gaining knowledge of the Treasury and Structured Finance functions.
Education, Training and Experience
* Working towards a Finance related degree or qualification, previous experience working in a Finance or Treasury team.
* Intermediate level of excel.
Skills and Personal Characteristics Required
* Ability to work flexibly under pressure and deliver to strict deadlines.
* Eye for detail and focus on accuracy and statistical problem-solving skills.
* Self-motivated and a strong team player who is open new challenges.
* Strong communication skills to collaborate both internally and externally and across different levels within the business.
* Confident in stakeholder management.
* Able to drive change and process improvement.
Career Path
Equivalent jobs which could constitute lateral moves:
* Procurement Controller (Band 3)
* Cash Processing Assistant (Band 3)
On leaving this job, a job that would be considered a promotion is:
* Assistant Financial Accountant (Band 4)
How to register
To get updates about this role and be the first to hear when applications open, please register your interest.