Cash Management Associate

4 weeks ago

Telford, United Kingdom Phoenix Group Full time

**Salary and Benefits**:c.£30,000-35,000 + bonus, private medical insurance, excellent pension scheme, life assurance, electric vehicle scheme, 38 days holiday (incl. Bank Holidays) and plenty more work perks and benefits
**Role Type**:Permanent
**Reporting To**: Cash Management Analyst
**Work location**:Telford

We have an incredible opportunity to join us here at Phoenix Group as a **Cash Management Associate **to join our Back Office Asset Management COO team.

**Who are we?**

We want to be the best place that any of our 8,000 colleagues have ever worked.

We’re the UK’s largest long-term savings and retirement business. We offer our 13 million customers products across our market-leading brands, including Standard Life, SunLife and ReAssure, with c.£310 billion of assets under administration. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet.

**The role**

Investment operations is a key support function for the Asset Management Front Office. It has wide ranging accountability ensuring operational control of investment activities, supporting the Group and AM governance framework, and delivery of investment reporting

Cash Management Function - lead activities across the Phoenix custodial and operational account universe for policyholder, shareholder, ERIP and Operational bank accounts. Responsible for the execution of payments, by Chaps and BACS, and ensuring that there is sufficient liquidity for trades to settle. Providing operational support to our internal Asset Management & middle office, while providing oversight of 3rd party Custodial & Investment Management relationships.

This can include regular exposure to the following Group activity:

- Cash Management responsibility for daily 'Sweep' of Shareholder cash balances into (Blackrock / ASI) liquidity products.
- Funding of AM Private Debt transactions
- Setting cash and liquidity investments
- Funding of Group dividends
- Interfund Settlements / NPF Drawdowns
- Managing shortfalls / surpluses within Treasury accounts
- Execution of 3rd party payments Asset Management & Investment Operations
- Funding of 'Reinsurance' collateral positions
- Xccy swap income sweeps

**Key responsibilities**
- **Oversight of Daily Cash Management Operations **- Supervising and supporting the teams’ daily deliverables, including Cash Projections, liquidity monitoring and payment / trade processing on custodian systems.
- **Portfolio Rationalisation Activity**:

- Support the teams’ deliverables in this space, ensuring all instructions and requirement asset transfers are instructed / managed efficiently, including working closely with key stakeholders and ensuring smooth settlement with custodians.
- **SME for business queries **- To be proactive in responding to and challenging queries from all areas of the business and from third party suppliers.
- **Risk and Control - **Ensuring current processes and procedures are adhered to and help develop processes where necessary to make sure the Cash Management team is functioning within our policy standards.
- **Support internal and external relationships **
- Internal - Front Office, Middle Office, Instructions Team, BPA team, Finance and Actuarial, I.T, internal auditors, and Treasury.
- External - Third party suppliers (Fund Administration, Fund Managers and Custodians).

**What we're looking for**

**Qualifications (desirable but not essential)**
- Degree level education
- Investment qualification

**Experience**
- Experience in Custodian / Investment Operations industry of supervising a team in an operations environment
- Broad knowledge of some or all of the following trade lifecycles, FX, MMD, Bond settlements, Funding
- Swift messaging
- Experience of Back Office or an Investment Operations function and systems and controls.
- Experience of oversight of third-party suppliers, such as; fund managers and custodians.
- Experience in investigating, correcting, and understanding root causes of reconciliation differences.
- Experience in query resolution
- Knowledge of third-party fund administrator and custodian systems.
- Experience in an operations environment experiencing a high level of change.

**Personal Attributes**
- Communication and technical skills to interact with internal and external other stakeholders.
- Ability to challenge current processes and controls.
- Ability to work independently
- Proactive and adaptive within a constant changing environment.

**We want to hire the whole version of you.**

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Find out more about #LifeAtPhoenix

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