Cash Team Lead
Blue Chip commodities trading company based in Canary Wharf, London, looking for a Finance Settlements Team Lead to join the global team on a permanent basis starting immediately.
Overview
As a Cash Team Lead you will be responsible for efficient and controlled operation of the Oil and Gas Trading Cash process. The team lead will run a team of 2 Cash Analysts responsible for US trading Global Marine Cash Management processes overseeing payments run up to $1bn a day.
The role is within the Global Central Services Settlements Team, within the wider Financial Settlements Team. The role provides Trade Settlement support for three trading functions in Singapore, London and Chicago.
As a global trading organisation you may be required to work an early shift (from 7am), or a late shift (until 7pm), in addition there will be requirements to work on some bank holidays and weekends.
Key accountabilities:
- Daily allocation of cash for Third Party and Group companies across all entities. This includes input of currency equivalents for foreign currency settlements and releasing parked documents to the correct chains (for working capital purposes). Monitoring the Hub files to ensure that any posting failure is dealt with promptly.
- Daily Payments to both Third Parties and Group companies via various methods - WAPI, EPD, GAMI. Ensuring that these are forecast and made within Treasury’s deadlines.
- Act as Deputy for Cash Operations Manage
- Supervising OA working hour shift
- Overall accountability of GOA Marine processes
- Primary cover for cash operations roles
- Small project implementation
- Global Intercompany 3rd Party Unallocated Cash Monitoring
- Process expert for managing Escrow Account in respect for secured LC Settlements
- Responsible for KPI Measurement, root cause analysis identifying actions to improve
- Daily uploading bank statements and checking back to general ledger
- Running daily Open Item reports for the various entities - to ensure that any items that are allocated to the cash team are investigated and cleared as soon as possible.
- A Daily U-Hub Report to show the outstanding unallocated hub entries.
- Foreign Exchange clearing in relation to hedging deals
- Validating WAPI bank details for set up into Wall street by Finance - query any discrepancies and then send a digitally signed email to Finance to confirm set up.
- Daily Mizuho reconciliation – settlement of exchange cash settlement.
- Ad hoc Duties and queries -- Contra's, Swift requests, payment and receipts queries, clearing queries, Margin splits, Write offs, FX queries and audit requests.
- Manage the Bank Mandate.
- Manage Internal/external Audit reports
- Understand and adhere to all control and compliance policies.
- Month End reporting and reconciliations.
- Supervise two direct reports
Skills Experience Required:
- Thorough understanding of Cash Processing Procedures in a large and complex organisation, including AP/purchase ledger and AR/sales ledger.
- Understanding of Treasury Management External Banking processes
- Understand principles of Foreign Exchange Risk
- Work in a complex multi legal entity environment
- Attention to detail and accuracy are fundamental.
- System Literate - SAP is essential, and exposure to online banking portals.
- Strong and confident communication skills.
- Able to multi-task in fast pace environment.
- Ability to deliver to tight deadlines, prioritise and cope with ambiguity and uncertainty
- Team Management skills and leadership capability
- Time Management skills (the role has day to day operational as well as managerial planning elements)
- Operational knowledge of accounting concepts (e.g. Double entry, Balance Sheet, PL)
- Highly numerate, an accounting background is essential.
- An understanding of Energy Trading Settlements is not required. This is a great opportunity for someone wishing to move into the commodities industry.
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