Team Leader

Summary of Role

You will lead a team of 4 in the UK, with further outsourced resources in Pune, who are responsible for all the payments and receipts made out and into NEXT.

Head Office Banking are responsible for overseeing the reconciliation of around 100 GBP & Foreign currency Bank accounts, the role facilitates the processing of Foreign & UK Supplier Payments, Payroll & Customer related payments, approximately 133,000 payments totaling approximately £4bn across multiple banking platforms.

You will lead and develop your team to ensure there are strict controls over payments, cash books, foreign currency and cheques.Change is a constant factor at NEXT and you will be involved in multiple projects and encouraging a culture of continuous improvement in Head Office Banking

Managing relationships with internal stakeholders and third parties will be key in this role to ensure the smooth running of the payment processes and that there is no disruption to suppliers or employees.

Responsibilities

Cashbook Processing:

• Daily reconciliation of the high volume/high value Foreign & Sterling cashbooks (current balances range from -£65m to +£70m)
• Immediately investigate & resolve any discrepancies, advising any relevant parties concerned.
• Verify & process all receipts & payments through the cashbook on notification of the transaction.
• Ensure the completion of month end reconciliations between the cashbooks and the General Ledger.
• Responsible for the revaluation of all currency held accounts on a monthly basis.
• Review and update automated posting rules to minimise manual processing.

Payment Processing:

• Prepare & issue for authorization Bacs, Faster Payments & Priority payments for all areas of the business including Accounts Payable, Payroll and Customer Services.
• Ensure the correct payment type is used on requisitions, challenging those that do not meet current banking procedure.
• Ensure departmental authorisation of payments is in line with Company policy.
• Organise & obtain Finance authorisation in line with Company policy.
• Manage and send payments to ensure they debit the correct bank account on the correct date.
• Process cheques by exception including the issue & authorisation according to Company policy.
• Work with the HO Banking Team Leader to proactively reduce the number of payments produced manually by the department
• Ensure that all payments relating to invoices are redirected to the Accounts Payable department.
• Ensure any high value payments are registered with Treasury Department and the appropriate exchange rate is used where required.

Cash Office duties/foreign currency:

• To ensure security of the cash office, by allowing only authorised persons to enter.
• Issue & return Sterling & Foreign currency to/from business travellers in accordance with Company policy.
• Ensure that float holdings do not exceed peak usage for season & currency is held in an effective manner for daily handling.
• Ensure that daily reconciliation of all floats are actioned with any discrepancies being resolved same day.

Queries and Communication:

• Deal with internal & external queries in a timely manner as per agreed SLAs.
• Ensure that a high level of Customer Service is maintained at all times with the aim of first time resolution.
• All queries relating to bank accounts to be raised with the appropriate Bank as soon as it is identified & followed up to achieve a timely resolution.
• Communicate any problems, irregularities to line manager along  with a suggested resolution.
• Able to communicate at all levels including Director  & CEO.

Systems/Project work: 

• Challenge existing processes to drive improvements, to streamline and encourage efficiencies.
• Assist with the implementation of new systems/upgrades
• Support UAT of new systems/upgrades
• Look to make existing processes more efficient & stream lined

Essential:

• A trustworthy, positive, organised  individual with a ‘Flexible Can Do’ attitude. Must be able to act and work using one's own initiative and take ownership and responsibility for Head Office Banking. Great communication, time management and attention to detail is required.
• Experience of reconciling GBP & Currency cashbooks would be an advantage.
• Competent in using excel and google.

ABOUT US

You know Next, but did you know we’re a FTSE-100 retail company employing over 35,000 people across the UK and Ireland. We’re the UK’s 2nd largest fashion retailer and for Kidswear we’re the market leader. At the last count we have over 500 stores, plus the Next Online and it’s now possible to buy on-line from over 70 countries around the world! So we’ve gone global!

ABOUT SOME OF OUR BENEFITS

• ​25% off a huge selection of Next, Lipsy & Victoria's Secret products
• Company performance based bonus
• Sharesave scheme
• On-site Nursery available; OFSTED outstanding in all areas
• 10% off most partner brands & up to 15% off Branded Beauty
• Early VIP access to sale stock
• Access to fantastic discounts at our Staff Shops
• Subsidised restaurant, coffee shop and juice bar
• Access a 24/7 digital GP and other free health and wellbeing services
• Free on-site parking

Our aim is to support all applicants during the application process and to provide reasonable adjustments when ​​necessary and requested. If you would like to request support with your application due to any health condition, feel free to get in touch with us by calling us on 0116 284 6858 and leave a voicemail.

For further information, and to apply, please visit our website via the “Apply” button below.