Description
Group Treasury is the central treasury function of the bank. Amongst other things, Group Treasury supports the Group in regard to its funding, liquidity and capital requirements, balance sheet management, and approach to FX and interest rate risk.
The Group Treasury Finance team are responsible for providing financial and management accounting support for the Group Treasury business. In total, the finance team looks after around 50 legal entities with a combined balance sheet approaching £300bn. Recent years at the bank have seen a heavy focus on recapitalisation, liquidity management, funding gap management and improvement of our term funding profile, and thus the Group Treasury Finance team has a high-profile within the Group.
This role sits within the team that looks after reporting and control for Term funding and Capital Raising.
The team provide finance and business support to the Group Treasury Front Office teams and to wider stakeholder groups across the bank, like Group Tax, Group Secretariat and the Group Chief Accountants. The job holder will be expected to use their accounting expertise, technical skills, communication skills and business knowledge to assist these teams on a daily basis - activities will include capital raising, forecasting, risk management and balance sheet management activities.
Role details:-
* Review and management of daily cash activities of legal entities
* Review and critically analyse the daily and monthly P&L Flash
* Support 3 analysts within the Term Funding team, this will include assisting with transactions, queries and reviewing work
* Liaise with offshore Poland and Singapore teams
* Review the submission of statutory disclosures for group accounts
* Assist with the management of the Group's strategic investments in subsidiaries, this will involve maintaining the investment schedule as well as participating in acquisitions or disposals
* Understand and apply IAS 39 accounting concepts, ensure accounting complies with accounting standards
* Month-end accounting responsibilities, including: reconciliation and substantiation processes: balance sheet review and analysis: report preparation for key stakeholders
* Prepare the monthly Structural Interest Rate and Foreign Exchange Report (SIRE)
* Assisting with the forecasting and budgeting process for unsecured Term funding
* Continuously drive the improvement of processes and controls within the team
* Regularly liaise and provide support to other Group and GBM departments, such as Group Tax, Group Chief Accountants, and Divisional Financial Reporting & Control.
In addition to daily and monthly Financial Control responsibilities there will be considerable focus on the improvement and rationalisation of the existing processes and procedures. The successful candidate will be expected to critically review the current process and help implement potential improvements. This will ensure optimum service delivery to all customers and provide professional support to the Front Office in their day-to-day activities.
Essential Experience: (Must have skills)
* Knowledge of vanilla Fixed Income products, specifically interest rate swaps and MTN's.
* Line Financial or product control experience within a Fixed Income business
* Exposure to financial services or corporate treasury environment.
* Good knowledge of IFRS, including strong knowledge of IAS 39
* Qualified Accountant (ACCA/ACA/CIMA or foreign equivalent).
* Knowledge and understanding of vanilla cash and derivative products (both a business understanding of what the product is and what it might be used for, and how the accounting for such products works).
Recruitment Zone acting as an employment business in regard to this advert.