Treasury Risk Manager

London, Greater London, United Kingdom, United Kingdom
Competitive salary
15 Oct 2021
18 Oct 2021
Approved employers
Approved employer
Experience level
Group Treasury

Holborn Store Support Centre and Home Working

Reporting to
Retail Treasurer

In a nutshell

The role of the Treasury Risk Manager is to ensure the Group's exposure to financial markets risks is managed in accordance with Board approved policies and procedures. The Treasury Risk Manager is responsible for developing deep knowledge of the financial markets the Group is exposed to, and for keeping abreast of developments in these markets to ensure risk management execution is optimised.

The Treasury Risk Manager plays an important role in developing a deep understanding of the commercial operations of the Group, identifying financial markets risks exposures and influencing the development of policies and procedures to ensure they are fit for purpose.

What you need to do
  • Implementation of the Group's risk strategy in line with the Retail Treasury Policy, including hedging £2bn of foreign currency exposure per annum, managing interest rate risk across all borrowing facilities, inflation hedging and counterparty credit risk management
  • Chairing and co-ordinating the periodic FX governance meeting across the food and non-food commercial teams, providing challenge where actual currency cashflow requirements materially vary from forecast
  • Performing an active role on the Energy Price Risk Committee
  • Keeping abreast with financial market developments/conditions and providing timely recommendations on how best to utilise Retail Treasury Policy flexibility to manage the impact of financial markets volatility and add value
  • Developing and maintaining close working relationships with the Group's banking partners, engaging on a regular basis to maintain a good understanding of the financial markets
  • Developing and maintaining a detailed understanding of the suite of financial instruments that could be used to implement the Group's risk strategy, including but not limited to spot, forward and swap contracts, zero cost collars, FX orders and interest and inflation swaps. Exploration of the use of alternative financial instruments working closely with the Treasury Accounting Manager
  • Developing an appreciation of how financial instruments are valued and working closely with the Treasury Accounting Manager to keep abreast on the impact of the implementation of the risk management strategy on the Group's statutory accounts
  • Evaluating the Retail Treasury Policy on a bi-annual basis, including peer analysis, recommending any enhancements to the Retail Treasurer
  • Regular attendance at the Treasury Committee to present risk strategy updates and recommendations of any variance to policy
  • Reporting on adherence to the Group's risk strategy to the Audit Committee
  • Reporting on adherence to the Group's risk strategy and value at risk at the monthly markets meeting
  • Treasury lead for the indirect foreign currency project, delivering cost of goods reductions to the business through engaging with the buying teams on supply contracts with overseas suppliers
  • Providing training on foreign currency exposure management to the Group's buying and commercial finance teams
  • Reporting on adherence to the Group's risk strategy as part of the periodic Treasury Report, to be submitted to the Treasury Committee on a quarterly basis

What you need to know and show
  • Treasury (AMCT) and/or Accounting qualification (ACCA, CIMA, ACA)
  • Strong technical skills, both Treasury and Accounting
  • Detailed knowledge of financial markets
  • Minimum 3 years' experience in a large Group Treasury function
  • Self-starter and the ability to influence Treasury senior management, the commercial finance teams and also the Group's buying teams
  • Strong interpersonal skills and people management
  • Confident in interactions with the Group's banking partners

What decisions I can make including budget
  • All risk management operations are to be carried out in compliance with the Retail Treasury policies. Treasury Risk Manager is able to apply judgement on the timing of execution of risk management operations, in line with the flexibility permitted within the Retail Treasury policie
  • Determination of the Group's banking partners who may tender for risk management contracts, based on share of wallet and counterparty credit risk

What we offer

If being part of a hugely influential team wasn't enough, you'll also receive a host of great benefits. As well as a competitive salary and a huge range of learning and development opportunities, you'll also enjoy a bonus scheme, healthcare, holiday allowance, pension, a save as you earn scheme and staff discounts at Sainsbury's, Argos and Habitat.

Work-life balance is important to us, so we offer our colleagues as much flexibility as possible in line with the needs of their role. We trust them to decide how, where and when they work, combining remote and collaborative working with a flexible approach to hours, giving them plenty of time and space for life outside of work whilst delivering against our business goals.


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