• Permanent, Full time
  • Schroders Investment Management
  • 2018-07-19
  • London, England, United Kingdom
  • Not Specified
  • Full time

Head of Finance Cash Operations

Finance Operations covers all operational aspects of Finance including Fee Billing, Rebates, Accounts Payable, Revenue Accounting, Cash Operations and Operational Reporting. Cash Operations is responsible for managing global operating cash including liquidity and currency requirements by entity, payments, intercompany settlement and bank account reconciliation.  

Finance Operations covers all operational aspects of Finance including Fee Billing, Rebates, Accounts Payable, Revenue Accounting, Cash Operations and Operational Reporting. Cash Operations is responsible for managing global operating cash including liquidity and currency requirements by entity, payments, intercompany settlement and bank account reconciliation.

 

The Cash Operations team is based in London and Luxembourg and covers management and oversight of all operational bank accounts in Asia Pacific, Europe, UK and US.

 

Cash Operations covers the following core processes:


- Payment – transmission of payments to banks and oversight of banking relationships
- Forecasting – understanding expected receipts and payments and ensuring sufficient funds are available, entity liquidity management
- Reconciliation – bank accounts are reconciled to the general ledger on a timely basis
- Strategy – managing payments, currency and bank account strategy for operating entities within the Schroders group

 

In its capacity as a payment services centre, the finance cash operations team deals with the complexity of cross border payments and an increasing volume of transactions across multiple banking counterparties in different payment currencies and in several countries.

 

The Cash Operations team is responsible for the following on a day to day basis:


• Transmission of payments from the treasury system to banks each day and resolution of any payment transmission failures
• Understanding different payment types and required information for each payment type
• Allocation of cash transitions in Oracle cash management for all bank accounts within a number of operating entities
• Working with the Fee Billing Services team to ensure client debtor positions are available on a timely and accurate basis
• Ownership of legal entity bank accounts which included opening and closing accounts, understanding account purpose and operation
• Investigation of unallocated cash with internal and external parties
• Producing bank account reconciliations
• Ensuring a timely month end close
• Providing actual and forecast cash reporting across a number of bank accounts and currencies

 

Role Overview

 

The Head of Finance Cash Operations is responsible for ensuring the efficient running of the Finance Cash Operations team and being the senior point of contact for Group Treasury and other Finance teams. This person will have ultimate responsibility for the Cash Operations analysts and needs to ensure that a strong team is built across the two operating locations. Travel to Luxembourg will be required from time to time.

 

The team is in the process of adopting a global and centralised operating model. The team head will have appropriate policies and procedures in place to support the teams’ operations. In addition they will be required to work with Group Treasury to ensure that Schroders has the following capabilities:


- Strong bank relationships – ability to process a wide range of transactions and resolve issues efficiently, build strategic relationships
- Intercompany settlement processing
- Reporting to entity boards
- An optimal bank account structure, including opening & closing accounts, account maintenance
- Maximise working capital and meet regulatory requirements

 

Essential Skills

 

• University degree or professional qualifications in Economics, Accounting or Finance;
• Demonstrable experience in cash operations;
• Experience with managing a team;
• Understanding of payment types, BACS, CHAPS, SEPA, Cross Border wire etc.
• Good communication skills, in addition to English fluency in a European language would be a benefit
• Computer literate; MS Excel at an intermediary level;
• Sufficient knowledge of domestic and international electronic banking tools;
• Excellent understanding of the various elements involved in cash forecasting;
• Practical work experience in the use of a corporate accounting system (e.g. ORACLE, SAP).
• Analytical and highly numerate, able to grasp data relationships and turn them into business intelligence information;
• Collaborative, team player, and proactive;
• Self-motivated, enthusiastic, and emotionally resilient;
• Excellent time and self-management skills, ability to prioritize and multitask;
• Highly organised with the ability to work independently



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