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Cash & Liquidity Team Leader

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 energised by creating a positive Net financial result, as well as by increasing customer value, driving business growth and contributing to overall success and results through people. You find motivation in leading and developing people and inspiration by working together in an ever-changing, complex environment. You care about sharing and living the IKEA culture and values and finding industry leading treasury solutions to meet customer needs. To be successful in this role you need 5+ years of hand on experience in cash concentration, liquidity planning, FX & interest rate hedging in a in a blue chip multi-national environment. You have 5+ years’ experience of working within an in-house bank set up in a in a blue chip multi-national environment, and 5+ 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. Professionally, you are qualified, or working toward qualification, with a recognized corporate treasury awarding body such as the Association of Corporate Treasurers. You have knowledge in the following areas: • 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 • cash flow cycles & forecasting operations You have the capability to drive strategy and direct effort to achieve long-term business objectives. You are skilled in managing 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 are able to deliver results by optimising the cash concentration to deliver cash buffer targets and enhancing yield of ST investments.

YOUR RESPONSIBILITIES

You will minimise 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. In this role you are expected to 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. Further, you will manage the financial exposures of the Global Treasury Centre to predetermined exposure levels. You will: In Global Cash concentration; • ensuring the four eyes principle for short term cash flow forecasts performed by the Cash & FX team to ensure accuracy • co-designing a regulatory compliant and automated global cash pool for the relevant markets; as well as being responsible for ensuring that all relevant arrangements and agreements with external banks and regulators are in place • ensuring that the various currency pools are drained to minimise group cash at bank as well as putting in sufficient safeguards to ensure the ongoing operation of the above cash concentration structure and continuously improve its efficiency and effectiveness • defining and minimising short term liquidity buffers needed for the operation of the in-house bank and ensure that funds in excess of these buffers are invested, in line with policy, to maximise yield either directly with third party financial institutions or with INGKA Investments • defining and monitoring credit lines with banks at the level of the cash pool header and minimising interest cost associated with such credit lines In Liquidity planning for designated markets; • ensuring overall compliance with the Ingka group rules for cash & debt management (currently IGR333) as well as ensuring the markets have access to liquidity for their unhindered commercial operation • ensuring medium to long term liquidity planning is performed and as a consequence credit lines and dividend proposals are made for onward approval. Further, responsible to secure the ongoing monitoring of 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, responsible for maintaining the 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 In Intra-Group Lending & financial exposure management for Global Treasury centre; • maintaining the intra-group loan pricing methodology and securing that the all intra-group financial instruments are priced in accordance with this; also responsible to ensure that all intra-group loans are documented with agreements in line with group policy

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.