Deputy Group Treasurer

About Flutter Entertainment:

Flutter is a FTSE 20 and NYSE listed global leader in sports betting and gaming with annual revenues of c. $12bn. Its strong and diverse portfolio of market-leading brands and best-in-class products provides its 18 million customers excitement and entertainment in a safe and responsible way. Brands include FanDuel, Paddy Power, Sky Betting & Gaming, Betfair, Tombola, Sportsbet, PokerStars, SISAL, Adjarabet and MaxBet.

Our strategy is to deliver and defend gold medal positions in existing businesses as well as ensuring continued cultivation of an innovative mindset to capitalise on future potential opportunities. Flutter is a responsible global leader placing sustainability at the heart of everything we do with our Positive Impact Plan.

Role purpose:

The Deputy Group Treasurer (‘DGT’) is responsible for leading on Risk Management at Flutter. Strategic vision, proven leadership and excellence in team management, developed within a complex multinational environment, are prerequisites for this role. Excellent communication, analytical, presentation and reporting skills are also essential. The successful candidate must be able to demonstrate a high degree of commercial acumen and must have solid experience of building and maintaining high quality working relationships across a broad range of senior internal/external stakeholders., including at Board level. The DGT will have responsibility for leading Flutter’s relationships with credit ratings agencies (S&P, Moody’s, Fitch) and responsibility for certain key banking relationships.

Partner with the Group Treasurer to define and drive global treasury strategy and take responsibility for financing, risk management and cash management for the Group, including; debt issuance, debt management and structuring (debt portfolio currently c. $7bn), interest rate & currency risk management, Group cash management and forecasting, investment portfolio management, and drive the strategic development of the function in line with the Group’s requirements.

Manage and ensure safe custody of the Group’s Corporate and Client cash balances (currently > $3bn of funds under management) ensuring that interest yields are optimised without compromising on security of capital.

Lead, manage and direct the implementation of new projects, processes, control enhancements and reporting improvements. Flutter Treasury is making significant progress through a treasury transformation project, which includes the implementation of an in-house bank, enhancing treasury systems and improving the group’s underlying banking infrastructure. The in-house bank is based on a liquidity structure with virtual accounts and treasury will leverage this to further centralise treasury cash management and operations across the group. This transformation project is part of Flutter Treasury’s journey of continual improvement to be best in class treasury for a FTSE 20 / Fortune 500 organisation . Innovation through new or emerging technologies and methods is a central component of our strategy to develop and enhance our Treasury technology. The DGT’s team will work closely with the Group Treasury Systems & Processes team to ensure that the TMS provides all relevant capabilities and a robust base for recording & reporting on treasury transactions.

Deliver Treasury related services to internal stakeholders which evolve with business needs and help drive the centralisation agenda. This includes the centralisation the group’s cash management to the extent possible. Supporting the build out of our US banking infrastructure in the US will be a key priority in 2024/5 and the DGT will have an active role in defining the underlying infrastructure. The Group’s entry to new markets and jurisdictions will also provide further centralisation opportunities.

Flutter has an international presence, with the treasury team located in Dublin, Isle of Man, Leeds and London, with the majority of the treasury team being Dublin based. Flutter offers flexible working, and this role will require an element of travel.

Accountabilities:

Leadership & Team management

• Display exemplary leadership qualities consistently amongst the wider Flutter Finance team and Flutter Group.
• Assist with leading and developing the full treasury team.
• Direct a continuous focus on career development opportunities, including a strong focus on retention and succession plans.
• Build and nurture a culture within the function of high energy, enthusiasm, and positive outlook.
• Act as a trusted advisor to the Group Treasurer and senior management, offering proactive assistance and strategic recommendations.

Strategic Direction

• Partner with the Group Treasurer to drive strategic development of the Group Treasury Function, to achieve a best-in-class status commensurate with a US Fortune 500 company.
• Maintain and enhance an efficient, stable, scalable, and highly effective function which caters for the current and expected future requirements of the Group, driving the centralisation agenda and ensuring the successful integration of acquisitions.
• Proactively cultivate strategic alliances with key banks, agencies and advisers, to meet the Group’s current and potential future banking and funding requirements.

Risk Management

• Lead / co-lead refinancing/debt issuance activity for the group, making recommendations at Board level, raising debt capital in the most cost-effective markets and lead ongoing management of the Group’s debt portfolio.
• Direct the Group’s interest rate and currency hedging strategy, leveraging technology solutions to assess exposures as applicable.
• Develop efficient monitoring of Group treasury risk positions, evolving risk management tools/models, to ensure that all material risks are accurately measurable, reportable and manageable.
• Proactively identify opportunities to improve existing / introduce new processes to enhance risk management and reporting.
• Provide monthly ad hoc reporting to business / external reporting
• Research technical Treasury issues (and where applicable, related accounting) as they arise
• Actively develop & maintain strong working relationships with internal audit, compliance, AML, fraud and security teams to ensure that risk is effectively managed and minimised.
• Critically evaluate the control environment, and maximise efficiencies through centralisation and standardisation.

Treasury Management

• Proactively develop and maintain the Group Treasury Policy, and the Treasury Policy for Divisions/Business Units, to ensure that business and control requirements are achieved.
• Develop the Group’s cash-flow management/forecasting, ensuring visibility of short and long-term liquidity requirements.
• Oversee the management and safeguarding of the Group’s corporate and client cash & Investments, achieving an optimal mix between risk diversification and return on investment.
• Cultivate productive relationships with banking partners on an ongoing basis ensuring maximisation of best-in-class product capabilities
• Continually develop and maintain excellent relationships with Business Unit leadership across the Group.
• Collaborate with senior internal stakeholders on meeting business needs regarding all payment / clearing services with customers and banking/clearing partners and ensure that business developments are fully supported.

Developing the Treasury Function:

• Assist the Group Treasurer continually monitor the design of the Risk function and the wider treasury team, implementing scalable design which is fit for purpose and agile for further centralisation and integration, re-engineering processes as appropriate.
• Partner with the Internal Controls team to ensure compliance with best practice and SOX requirements.

Competencies:

• Leadership: A motivational leader and team builder, comfortable leading the team effectively through high levels of change and ambiguity, inspiring the team and others to achieve and exceed objectives.
• Excellent Communicator and influencer : Provides clarity on business goals; is effective in all types of communication; adjusts communication style to fit the audience; consistently communicates the mission, vision and values to inspire, energise and motivate others throughout Flutter; ensures others understand how their efforts positively impact the bigger picture; creates an environment that encourages effective communication and the sharing of diverse perspectives.
• Commercial: Understanding of the different functions within the Flutter group. Remains up to date with key developments within the group and the wider gambling industry. Basic understanding of core products and the interdependencies between them.

• Big Thinker: Constantly explores and analyses future scenarios and possibilities to help Flutter respond to change and shape the future; drives self and others to pursue opportunities that will create sustainable value for Flutter; contributes to the functional and the Flutter strategy, mapping and aligning efforts to strategic imperatives.
• Innovator: Curious and creative; ability to think laterally and non-linearly; courageous and tenacious; instils a similar mindset in others
• Wins Together: Gains trust and support of others, generous with time, advice and knowledge; able to establish and engage networks to get stuff done rather than depend on authority; seeks out opportunities to break down barriers and collaborate and partner across organisational boundaries.
• Resilient: Creates a climate where people are curious, resilient, determined, learn and adapt; handles and manages crises effectively; anticipates and shows the way forward during setbacks; builds energy in others to stick with it/ to stay on track / push through.

Technical experience:

• Extensive senior level experience in a similar role(s), with at least 12 years experience, at multi-national / listed / complex organisations -as Assistant Treasurer / Deputy Treasurer / Treasury Director
• In depth understanding / experience of debt capital markets, leveraged finance and investment grade financing
• Robust experience of derivatives; interest rates and foreign exchange and complex structured deals
• Significant investment & cash management experience
• Solid understanding of key controls in a treasury environment (SOX or equivalent) and in developing/implementing reporting & operating process improvements
• Assertive and confident, able to operate credibly with all senior stakeholders
• Experience of providing insightful Financial/Treasury MI to senior internal stakeholders
• Strong treasury accounting experience
• Strong Financial Systems experience

A sneak peak of the great benefits we have:

Competitive pay
£1000 per year self-development allowance
️ £250 Wellbeing allowance

Enhanced Parental Leave
Private Health Cover
Hybrid Working
Uncapped holiday allowance
Share Save Scheme
Take 20
And much more

We’re working to be an inclusive employer, and we encourage people from all backgrounds, ways of thinking and working to apply. Everyone brings different perspectives and experiences; you don't have to meet all the requirements listed to apply for this role.

If you need any adjustments to make this role work for you let us know, and we’ll see how we can accommodate them.