Treasury & Balance Sheet Manager
Salary £38,000 - £45,000 per annum
Consultant Neil Rogerson
Date posted 25 June 201811 Slingsby Place, St Martin's Courtyard London, WC2E 9AB Robert Walters United Kingdom
Manchester Airport Group (MAG) has partnered with Robert Walters to recruit a Treasury & Balance Sheet Manager to join our head office based in Manchester.
MAG is the country’s largest airport group, and we are growing. We own Manchester, Stansted and East Midlands Airports as well as sizeable operations in the USA. The Group also has a substantial property business, with over £640 million of investment property assets across its airports.
As part of our continued commitment to ensure that Manchester Airport remains one of the leading global airports and cements itself as the heart of the ‘Northern Powerhouse’, we are investing over £1bn in Manchester Airport extending terminal two and our airfield to increase passenger numbers and deliver a truly world class travel experience that will last well into the future.
With over 6,000 MAG employees, we are the largest UK owned airport operator, contributing over £7 billion to the economy and supporting over 130,000 jobs nationally.
The role is responsible for all aspects of cash management and ensures that accurate accounting and reporting of the cash position for the Group. The role also undertakes short and long-term cash forecasting and planning to ensure that the business has an appropriate and efficient liquidity position. The role also requires the management of the debt and interest provision, ensuring timely payments and accounting and financial reporting, working very closely with the Corporate Finance Team.
Treasury & Balance Sheet Manager key responsibilities:
- Development, training and support of the Balance Sheet and Treasury team ensuring the core ongoing operations
- Ensure that the systems, policies, procedures and quality targets as defined by the Head of Group Finance Shared Services are implemented and maintained to the agreed timescales and standards.
- Initiate improvements to ensure that quality standards are delivered and are aligned across all legal entities.
- Education of Stakeholders
Loan and Cash Management:
- Manage cash overnight, benchmarking to ensure MAG maximises interest income earned in accordance with the treasury policy.
- Manage the cash pooling activities whilst ensuring that overdraft limits are not breached.
- Ensure that there is clear communication of the cash and future cash position to the Corporate Finance team for the management of the longer-term debt profile.
- Make recommendation and support the Head of Treasury in agreeing the value of debt financing drawings.
- Support the Head of Treasury in any strategic treasury activities, particularly with regards to the refinancing of debt and the payment of dividends to shareholders.
- Manage the day-to day banking relationships
- Manage the provision of documentation such as letters of credit and overdrafts, ensuring that a prompt and efficient services is provided
- Manage the provision of a foreign currency petty cash service, ensuring cash held is minimised and tightly controlled.
Transactional solutions and controls:
- Provided an efficient system for payments made outside of I=procurement.
- Support the Head of Treasury by making recommendations regarding bank mandate changes and user profiles on the banking software used by the business.
- Ensure that Treasury systems are fit for purpose and that system developments are implemented to meet future requirements. Manage the operation of existing systems to ensure fund movements are controlled.
- Working within the levels defined within the scheme of delegation ensure that payment approval authorisation controls are in place.
- Ensure that Process Matrices and work flow instructions are regularly reviewed, adding and deleting as appropriate.
Cash Processing and Forecasts:
- Manage and ensure that the bank statement posting are undertaken in a timely fashion such that the Financial systems are as accurate as possible.
- Deliver accurate cash-flow forecast (daily, weekly, annually and for budgeting purposes) that aides business planning and reporting.
- Delivery of business targets for the efficient use of cash, cash balances and minimisation of debt and associated costs.
- Determine appropriate BACS payment dates, reviewing and amending planned payments to deliver optimal cash balance. Ensure that PTP BACS and Payroll BACS files are funded within the cash limits for the business.
- Assist the Head of Treasury in preparation of the long term financial forecast modelling.
- Manage the process of recording of Balance Sheet reconciliation submission and report on periodic status.
- Review the accuracy of submission to assess the quality of the information. Prompt investigation of issues identified through the reconciliation and monitor the resolutions proposed.
- Drive forward the standardise reconciliation approach to all areas of reconciliation and act as the champion to all reconcilers and reviewers.
- Review the status of reviewers and reconcilers periodically to ensure that the correct people are providing the information and that this sits comfortably with their accountabilities.
Treasury & Balance Sheet Manager key requirements:
- 5-10 years post qualified accountant or relevant Treasury qualification
- Experience of leading teams
- Excellent interpersonal, management and influencing skills. Can influence at all levels in the business enabling the engagement and co-operation of people who are not direct reports
- Ability to describe services required to third parties to ensure business growth or changes can be accommodated.
- Advanced Excel and experienced in Microsoft Word and Power-point
Join MAG and you’ll be joining a business that believes in its people enough to continually focus on promoting from within. Your career path will be well-defined, your imagination will be challenged, and we work hard to make sure you have everything you need to progress as far – and as fast – as you want.
Apply below, or please contact Neil Rogerson on firstname.lastname@example.org or 0161 214 7400 for more information about the opportunity.