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Cash & Liquidity specialist

Ballymena, Northern Ireland Finance, Accounting & Tax Full Time

Job description

WHO YOU ARE

You have a strong interest in Treasury and are passionate about creating an IKEA fit for the future. You are energized by creating a positive Net financial result and increasing customer value driving business growth and contributing to overall success and results through people. You find leading and developing people motivating. Inspired by working together in an ever-changing multi-dimensional environment and by finding industry leading treasury solutions to meet customer needs. To be successful in this role you need 3+ years of hand on experience in cash concentration, liquidity planning, FX & interest rate hedging in a in a blue chip multi-national environment; a 2+ years’ experience in dealing with complex regulatory challenges in the cross border movement of liquidity and related currency control matters. You hold a bachelor’s degree in Economics, Risk management or related financial discipline and are professionally qualified, or working toward qualification, with a recognised corporate treasury awarding body such as the Association of Corporate Treasurers. You have knowledge in following area: • extensive knowledge of financial instruments, and related financial reporting standards • extensive knowledge of cash pool structures, capital & FX control restrictions, regulations impacting financial instruments used for cash management purposes and withholding tax • extensive knowledge of external financial markets • good knowledge in cash flow cycles & forecasting operations You are capable of driving Strategy by directing effort to achieve long-term business objectives. You know how to manage resources by coordinating people and financial capital, material and (digital) information to maximise efficiency and performance. In dealing with ambiguity you comfortably handle unclear or unpredictable situations. You deliver results by optimising the cash concentration to deliver cash buffer targets and enhancing yield of ST investments.

YOUR RESPONSIBILITIES

You are responsible of minimising the value of low yielding cash balances by the effective usage of global cash concentration structures and enhance yield on short term liquidity surpluses by proactive and accurate medium term liquidity planning. You ensure continued access by the markets to required liquidity and be the single point of contact to the relevant market for all operational treasury matters. You manage the financial exposures of the Global Treasury Centre to predetermined exposure levels. You will: • review the cash flow forecasts performed by the Cash & FX team to ensure accuracy and ensuring the four eyes principle • for deregulated markets maintain the automated global cash pool by ensuring that all relevant arrangements and agreements with external banks are in place. Monitor the operation of this cash concentration structure and remediate any deficiencies with the bank on a timely basis. For regulated markets manually drain or fund market cash pool leaders liquidity positions on a daily basis fulfilling all relevant regulatory restriction with a view of minimising cash at bank • swap short and long daily currency positions, based on the reviewed daily forecast, against Euro or USD and drain the Euro/USD cash pool on a daily basis • depending on the pre-determined short term liquidity buffers, either invest the drained Euro/USD cash pool in line with policy either external counterpart; or where funds can be placed on longer durations deposit with INGKA Investments Liquidity planning for designated markets: • review long term (>1yr) business plan projections prepared by group FP&A and perform medium to long term liquidity planning & set credit lines for designated markets • propose for approval by market CFO’s, Group Corporate Finance & Group Tax any interim & final dividend to ensure optimal capital & tax structure • monitor the balance sheet of the markets to ensure that they remain within the appropriate leverage limits prescribed by group tax and local thin capitalization regulations • for regulated markets, maintain day to day relationship with key local bank representatives & advisors to ensure best funding conditions and access to industry leading solutions to manage regulatory driven friction of cross boarder movement of liquidity Intra-Group Lending & financial exposure management for Global Treasury centre: • review the maturity profile of all intra-group loans to ensure the maturity profile conforms to internal policies • set interest rates for new loans and for existing floating rate loans ensure that the rate fixings are performed on a timely basis • hedge the currency & interest rate risk related to the short-term loans with external counterparts and with the internal designated FX company for long term loans

ABOUT THIS WORK AREA

The purpose of Group Corporate Finance and Tax is to provide expertise and optimise exposure in Corporate Finance, Tax, Treasury and Insurance matters, balancing risks and opportunities in the market, support the business in its growth, while ensuring a strong position as good corporate citizen.

QUESTIONS AND SUPPORT? LET'S CONNECT!

You will be based in Dublin, Ireland and will report to Salinda De Zoysa, Group Cash & Middle Office Manager. If you have any questions about the position, please contact Salinda De Zoysa (Salinda.de.zoysa@ikea.com) or Mon Enckels, (mon.enckels@ikea.com), People & Culture Business Partner Group Treasury. Your application, written in English and consisting of a covering letter and CV, should be registered on-line. Please note that personal tests will be part of the recruitment process. Unfortunately we are not able to handle any applications by e-mail.