Education: High School/Secondary
Employment Type: Full Time Salaried Employee
Location: Aberdeen, United Kingdom
In order to apply for this position, applicants MUST meet the following criteria. If your resume does not match these criteria, you will not be able to apply for this position.
Authorized to work in: United Kingdom
Our Client is looking for a Treasury Lead, on a permanent staff basis, location in Aberdeen.
Responsible for the delivery and supervision of the operational service provided by the Treasury team based in the Aberdeen office. This includes long term cash forecasting and the associated actual reporting and variance analysis, foreign exchange hedging operations and hedge accounting, management of loans, cash management, daily banking operations, mandates and account management, treasury month end and reconciliation processes, reporting and monthly analysis.
- Deliver all activities of the Treasury team including cash management, banking, foreign exchange management, loan management, monthly reconciliation, reporting and analysis.
- Transmission of BACS files.
- Perform, deliver and report on the hedge accounting exercise IAS 32/39, 21 at quarter ends.
- Maintain bank mandates, documentation and banking relationships.
- Compliance to SOX, Internal Controls and Group policies.
- Assist Treasury Manager, UK entities in treasury and finance related matters as required.
- Produce and deliver training as required on the subject of Foreign Exchange Hedging.
- Supervise Treasury team, ensure department routine is adhered to and deadlines are met. Hold regular operational team meetings.
- Review project cash flows and assess requirement for foreign exchange hedging, monitor effectiveness of hedging in place.
- Remeasurement of hedging fair value at quarter ends (IAS 32/39, 21)
- Review short term and long-term cash forecasts and variance analysis. Review cash forecasting
- information pack and assist with forecast queries/commentary.
- Review instructions to Group Treasury of hedging operations and ensure accurate records are
- maintained for all foreign exchange deals entered into and comply with the group hedging policy.
- Review month end Bank Analysis produced to analyse previous months' payments and receipts to
- ensure adequate hedging in place.
- Review and provide guidance for the month end timetable, assist with the month end routine to facilitate all cash department deadlines are met, including recording of cash transactions in Oracle and revaluation of currency balances at month end.
- Review and approve the monthly Bank Consolidation Report, Bank Reconciliations, Bank Schedule and Exchange Gain/Loss analysis.
- Review cash and debt reports for submission to Group Treasury.
- Monitor cash balances with external banks and with internal bank customer Eurocash.
- Ensure company transactions are recorded accurately in Oracle and approve the monthly reconciliation.
- Review and approve journal entries in compliance with SOX and internal controls.
- Ensure compliance and maintenance of all relevant internal controls
- Supervise interpretation of Delegation of Authority/Power Reserve Lists, input into the local Approval
- Authority Database and update of the approval limit table in Oracle as appropriate.
- Liaise with banks, be responsible for the maintenance of bank mandates, on-line banking solutions,
- opening/closing of accounts and any other banking requirements.
- Be key contact for the BACS software provider and BACS Payment Services.
- Transmit BACS files.
- Accounting (CIMA/ACCA/ICAS) / Banking qualification
- post qualified relevant experience.
- Supervisory experience.
- Hands on experience in Treasury operations, front, middle and back office functions.
- Supervisory/Team Lead experience including mentoring, development, performance appraisal and training needs.
- Sound understanding of accounting practice, foreign exchange and hedge management (IAS32/39, 21), cash management and forecasting.
- SOX compliance and strong understanding of internal controls.
- Microsoft Office, Excel.
Typical background and experience required:
- Relevant experience in Treasury operations preferably with a good knowledge of foreign currency hedging.
- Previous experience in short/long term cash forecasting, actuals reporting and variance analysis.
- Cash Pooling.
- Proven ability to lead team to meet tight deadlines.
- Strong internal control and fraud awareness.
- Competent Microsoft Excel user.
Nice to have:
- Experience in the oil and gas industry
- Oracle, Hyperion