Treasury Manager

3 weeks ago

London, United Kingdom WPP Full time

Why we're hiring: WPP is on a global transformation journey, and this is an opportunity to join and take the lead on Treasury matters covering the Middle East & Africa for Group Treasury. WPP Group Treasury is transforming to better support the business in this specific market.

WPP is looking for an experienced corporate Treasury Manager to manage our liquidity, cashflow, financial risks and treasury operations across Middle Eastern territories such as UAE, Qatar, Saudi Arabia, Kuwait and in Africa, Kenya, Tunisia, Morocco, Egypt, Lebanon, and South Africa.

What you'll be doing:

This role involves the development and implementation of treasury strategies, ensuring compliance with financial regulations and optimising our liquidity structures.

With 112 countries, global cash pooling in 35 markets including ZBA and notional pooling structures, the Treasury Manager will be looking at best ways to incorporate the countries outside of this existing landscape and to optimise the incumbent arrangements, working towards an outstanding regional solution.

This role would suit someone with experience in a comparable international treasury environment, an expert in terms of Middle East and African cash management landscape and is comfortable working with a variety of stakeholders both within WPP and with banking partners supporting this region.

The role requires regular interaction with the in-country CFO’s Managing Directors and tax teams providing considerable opportunity to develop your career within this truly international treasury team.

Who you'll be working with:
You will report into the Assistant Treasurer, EMEA, and aside our Regional Treasury Managers globally to optimise and drive the Treasury objectives.

Key responsibilities are:

Cash Management

  • Focusing on all countries in scope of MEA Cash, covering Liquidity & FX risk management, optimising local cash depositing capabilities where cash is outside of domestic pooling arrangements
  • Oversee day-to-day treasury queries, supporting operations, funding and liquidity needs
  • Commercial requirements from WPP Agencies may require support of Guarantees/Bonds (Tender bonds, performance guarantees) standard practice in this market, ensuring timely management of the issuance process and adherence to facility limits
  • Rationalisation of non-core bank relationships
  • Explore, scope, suggest and implement account structures to develop a best-in-class regional cash management practice
  • ZBA / Intercompany loan balance reconciliations
  • Compliance with regulatory requirements and internal controls
  • Drive process improvements between Treasury and operations to enhance cash management capabilities, contribute to reducing net interest charges, improve risk profile and lower costs
  • Oversee, develop, and implement international bank account management strategy covering Middle East and Africa

Financial Reporting

  • In conjunction with Treasury Shared Service team, analyse financial reports related to regional cash flow, liquidity, and treasury performance
  • Provide timely and accurate reporting to senior management and group stakeholders

Relationship Management

  • Establish and maintain strong relationships with local banking partners
  • Negotiate banking services and fees to ensure cost-effective treasury solutions
  • Collaborate with banks to enhance cash management tools and services

Risk Management

  • Support the communication and implementation of Group policy
  • Continue to educate and find strategies to inform operations on mitigating currency and other financial risks
  • Monitor and assess the impact of local market conditions
  • Support the Group’s FX hedging program, identifying FX risks, ensuring they are monitored and hedged where possible
  • Utilise financial instruments, such as derivatives to hedge against market risks

Financial Compliance and Policies

  • Contribute towards annual update to Treasury policy, where appropriate propose policies in line with industry best practices whilst considering local market nuance
  • Monitor and ensure compliance with financial regulations specific to Middle East and African territories
    Adhoc support of auditors to facilitate audits and reviews
  • Ad hoc banking KYC requirements with Group Company Secretariat oversight

Treasury Systems and Technology

  • Optimization the use of the global treasury management systems (TMS)
  • Take advantage of incumbent technology framework to enhance current treasury processes and improve efficiency

What you'll need:

  • Lead and develop the MEA region, through collaboration with the wider regional Treasury teams
  • Collaborate across different departments (Tax, Accounting, Legal)
  • Proactive approach to working
  • Bachelor’s degree in accounting or finance (ACA/ACCA or equivalent qualification)
  • Experience in Corporate Treasury role
  • Multinational MEA experience favourable
  • Strong knowledge of financial markets, banking instruments, treasury technologies and regulatory requirements

Who you are:

You're open : We are inclusive and collaborative; we encourage the free exchange of ideas; we respect and celebrate diverse views. We are accepting: of new ideas, new partnerships, new ways of working.

You're optimistic : We believe in the power of creativity, technology and talent to create brighter futures or our people, our clients and our communities. We approach all that we do with conviction: to try the new and to seek the unexpected.

You're extraordinary: we are stronger together: through collaboration we achieve the amazing. We are creative leaders and pioneers of our industry; we provide extraordinary every day.

What we'll give you:

Passionate, inspired people – We promote a culture of people that do extraordinary work.

Scale and opportunity – We offer the opportunity to create, influence and complete projects at a scale that is unparalleled in the industry.

Challenging and stimulating work – Unique work and the opportunity to join a group of creative problem solvers. Are you up for the challenge?

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