Deputy/assistant Treasurer - London, United Kingdom - WPP

WPP
WPP
Verified Company
London, United Kingdom

3 weeks ago

Tom O´Connor

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Tom O´Connor

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Description

WPP is the transformation company. We use the power of creativity to build better futures for our people, planet, clients, and communities.**
Working at WPP means being part of a global network of more than 109,000 accomplished people in 110 countries. WPP has headquarters in New York, London and Singapore and a corporate presence in major markets worldwide.

We create transformative ideas and outcomes for our clients through an integrated offer of communications, experience, commerce, and technology.

WPP and our award-winning agencies work with most of the world's biggest companies and organisations - from Ford, Unilever and P&G to Google, HSBC, and the UN. Our clients include 61 of the FTSE 100, 317 of the Fortune Global 500, all 30 of the Dow Jones 30 and 62 of the NASDAQ 100. WPP are the leader in the Bloomberg Gender Equality Index and 8th in the FTSE 100 rankings for Women on Boards.

Why we're hiring:


WPP is on a global transformation journey and this is an opportunity to join and take the lead on the Europe, Middle east, Africa and Turkey region for Group Treasury while also supporting the Group Director of Treasury in financing and sustainability initiatives.


What you'll be doing:


By leading the EMEA region, you will take full accountability for the cash, risk and funding needs of the region.

Driving best in class behaviors with your reports and local operating teams, business partnering with the regional CFOs or equivalent you will strive to optimise net interest, repatriating material amounts of cash to WPP from operating companies via loans or dividends while minimizing risk and adding value to the region wherever possible from a Treasury perspective.


The Deputy/Assistant Treasurer has 3 direct reports (1 in London, 2 in Belgium) and a team of 8 in total (the remainder also based in Belgium) and has accountability overseeing WPPs Belgium based Treasury center including some limited accounting work for the campus and Treasury lending/cash pooling.

This role will report into the Group Director of Treasury, key responsibilities are:

Cash management

  • Ensure the Belgian Treasury center are achieving best practice in their daily cash management activities, meeting local funding requirements and driving cash flow forecasting excellence for the EMEA region.
  • Support the drive towards a standard regional operating model for cash management focused on automation and increasing use of the IT2 (ION) Treasury management system.
  • Monitor EMEA cash flow positions and related borrowing needs to ensure financial stability and maintain sufficient funds to meet ongoing operational and capital investment requirements for all operating companies and regions.
  • Leading on cash extraction of loans or dividends from operating companies (opco) to WPP meeting or exceeding annual targets for the EMEA region.
  • Continue to improve, redesign and implement best in class cash pooling where possible across the region and lead Treasury related RFPs.
  • Approve and monitor through the EMEA team intercompany borrowing needs, guarantees and any other Treasury requirements for operating companies in EMEA ensuring financial stability and cost optimisation are top of mind.

Risk management

  • Lead on and oversee regional foreign exchange risk management and look for initiatives to optimize net interest expense/income.
  • Advise on complex operating company FX hedging requirements business partnering with CFOs and regional commercial leads to reduce risk and cost.
  • Oversee central and operating company investment activities striving to optimize the balance of risk and reward around interest income in line with Treasury policy.
  • Implement and monitor internal controls in all banking & treasury processes.
  • Review and monitor tax implication on treasury activities in partnership with Group Tax.

Funding

  • Support the Group Treasurer with debt capital market transactions
  • WPP has £3.2bn of bond maturities between £4.6bn in total outstanding) requiring an annual issuance of €500750m+.
  • Support the Group Treasurer with the $2.5bn revolving credit facility including refinancing (planned for Q and the associated bank income distribution and development over time of a bank wallet tracker.
  • Review and approve operating company bank facilities, overdraft, and trade finance requirements including supply chain finance facilities.
  • Negotiate funding facilities and monitor compliance with all financial covenants for the EMEA region.

Business partnering

  • Build deep relationship with CFOs and FDs across diverse networks and influence decisions.
  • Develop and enhance relationship with relationship and take the lead on regional banking relationships for the region.
  • Formulate and implement regional plans that are in line with Group Treasury and WPP objectives.
  • Support the ongoing review and development of Group Treasury policy building awareness in all operating company but
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