Treasury Senior Manager
- Recruiter
- Old Mutual Life Assurance Company
- Location
- Johannesburg, South Africa
- Salary
- Competitive salary
- Posted
- 19 May 2022
- Closes
- 01 Jun 2022
- Ref
- JR-23920
- Job role
- Treasury
- Sector
- Accounting - Public practice
- Experience level
- Manager
Your time is now to be your exceptional best at Old Mutual!
Job Description
The Group Treasury team forms part of Old Mutual Limited's Group Balance Sheet Management function, with a focus on cash and liquidity management, asset and liability management, external funding (including the management of the Group's debt and revolving credit facilities), the management of Guaranteed Products (including the generation and allocation of funding from these products) as well as strategic projects within the larger Group Finance.
This role will have a particular focus on the management of Guaranteed Products with direct responsibility for the P&L that these products generate. The incumbent will oversee the strategies to generate funding from Guaranteed Products, the allocation and pricing of funding through the Funds Transfer Pricing framework, and the management of related liquidity risks within risk appetite limits. The successful candidate will also engage the Treasury ALM team to ensure market risk related P&L is aligned to expectations.
The ability to collaborate across Group Treasury and broader Group businesses is essential as the role will support business development, particularly new product initiatives and funding deployment opportunities.
The successful applicant will be articulate and will be required to present financial outcomes, risk positions and proposals to senior committees within the organization.
The role reports to the Head of Guaranteed Product Management and may have direct reports.
Qualifications, Skills and Required Experience
Skills
Asset and Liability Management (ALM), Balance Sheet Management, Experience within a regulated industry, with banking or finance being advantageous., Knowledge of insurance and industry
Education
Chartered Accountant: Actuarial And Financial Mathematics (Required)
Closing Date
31 May 2022
Old Mutual Limited has adopted a mandatory Covid-19 vaccination policy requiring its workforce to be fully vaccinated against Covid-19 by 1 April 2022. All prospective employees are required to disclose their vaccination certificates or cards as part of the recruitment process.
If you have an objection to taking the Covid-19 vaccination, you will be required to produce a negative PCR test (at your own cost) on a weekly basis as an alternative to vaccination. Prospective employees must inform the recruiter of their election prior to start date.
Please refer to the Old Mutual policy for further detail. Old Mutual reserves the right to amend this policy from time to time.
Job Description
The Group Treasury team forms part of Old Mutual Limited's Group Balance Sheet Management function, with a focus on cash and liquidity management, asset and liability management, external funding (including the management of the Group's debt and revolving credit facilities), the management of Guaranteed Products (including the generation and allocation of funding from these products) as well as strategic projects within the larger Group Finance.
This role will have a particular focus on the management of Guaranteed Products with direct responsibility for the P&L that these products generate. The incumbent will oversee the strategies to generate funding from Guaranteed Products, the allocation and pricing of funding through the Funds Transfer Pricing framework, and the management of related liquidity risks within risk appetite limits. The successful candidate will also engage the Treasury ALM team to ensure market risk related P&L is aligned to expectations.
The ability to collaborate across Group Treasury and broader Group businesses is essential as the role will support business development, particularly new product initiatives and funding deployment opportunities.
The successful applicant will be articulate and will be required to present financial outcomes, risk positions and proposals to senior committees within the organization.
The role reports to the Head of Guaranteed Product Management and may have direct reports.
- Funding Management
- Develop realistic funding plans considering potential Guaranteed Product flows and funding deployment opportunities over the short and medium term as part of the Group's business planning process
- Identify and develop new funding deployment opportunities and new funding sources
- Identify and execute opportunities to optimize the cost of funding
- Drive the deployment of funding according to plan
- Monitor and manage reinvestment risk within the Guaranteed Product treasury portfolio
- Maintenance and regular publication of the Group's FTP curve
- Support the pricing of complex funding related transactions
- Liquidity Risk Management
- Ensure that appropriate liquidity buffers are set for the Guaranteed Product treasury portfolio in consultation with Group Risk
- Develop contingent liquidity sources and liquidity crises plans
- Identify and execute on opportunities to reduce the cost of liquidity
- Provide liquidity scenario analysis in support of the Group's ORSA requirements
- Management of Guaranteed Product treasury P&L
- Overall management of treasury P&L to within target
- Ensure that treasury P&L is attributed, with primary drivers of P&L clearly articulated and communicated to stakeholders
- Ensure that treasury related costs are managed and allocated appropriately
- Support financial reporting processes
- Collaborate with the ALM team on projects that impact treasury P&L
Qualifications, Skills and Required Experience
- Essential: Relevant post-graduate degree (e.g., CA, Financial Mathematics, Engineering, Finance, Banking, Actuarial)
- Additional professional qualification (e.g. SAICA, FASSA, CFA) an advantage
- 10+ years' balance sheet management and/or treasury experience within an insurance or banking entity with a specific focus on capital management, funding management. cash optimization and Group Treasury activities
- Strong communication skills including an ability to explain complex concepts and key issues effectively with the broader team.
- Capacity to take accountability for complex and often ambiguous pieces of work.
- Dynamically respond to work requirements and changing situations.
- Pragmatic, and solution-focused; able to make trade-offs balancing between deliveries, and risks/costs.
- Must possess a wide range of skills and knowledge, including an actuarial background, deep understanding of Treasuries in the Insurance and/or Banking space, quantitative finance and risk management, corporate finance and change management
- Track-record of being able to work efficiently with senior executives, senior managers and subordinates, teams in and out of the organization, and consultants to ensure delivery.
- Communicate with various role-players in order to obtain the appropriate level of input, buy-in, and approvals for delivery.
Skills
Asset and Liability Management (ALM), Balance Sheet Management, Experience within a regulated industry, with banking or finance being advantageous., Knowledge of insurance and industry
Education
Chartered Accountant: Actuarial And Financial Mathematics (Required)
Closing Date
31 May 2022
Old Mutual Limited has adopted a mandatory Covid-19 vaccination policy requiring its workforce to be fully vaccinated against Covid-19 by 1 April 2022. All prospective employees are required to disclose their vaccination certificates or cards as part of the recruitment process.
If you have an objection to taking the Covid-19 vaccination, you will be required to produce a negative PCR test (at your own cost) on a weekly basis as an alternative to vaccination. Prospective employees must inform the recruiter of their election prior to start date.
Please refer to the Old Mutual policy for further detail. Old Mutual reserves the right to amend this policy from time to time.