Treasury Dealer

The role holder is expected to be involved in the dealing operations of the UU group and will have the potential to get involved in other treasury related activity. Daily dealing operations requires the maintenance of liquidity within each of the cash pools under management via external bank lending and efficient management of inter-company funds across the group. This activity ensures there are no cash shortfalls allowing essential payments to be made to avoid default, and that licence conditions are not breached through the unauthorised lending of funds across the group.
Other UU treasury related activity would include being involved with the wider team which manages the financing of the business and associated financial risk management. This often involves complex financial instruments to hedge currency and interest rate exposures. UU has gross debt of nearly 9bn billion and its borrowing needs continue to expand to fund the essential delivery of UUW’s capital investment programmes. Treasury seeks to arrange efficient funding on the best possible terms with reference to underlying market conditions.
A number of different IT applications are used within the treasury department for accessing, recording, analysing and reporting data including, amongst others, the Treasury Management System (eTC), Bloomberg and Microsoft Access. As well as learning how to use these systems, the role holder will be expected to develop an in depth understanding of how each system works and how to deal with any systems issues or failures.

The Treasury department is also responsible for arranging the group’s insurance cover, which involves interaction across the business to gather the information which the insurance market requires to price the risk. Associated also is the management of relationships with our credit investors (bondholders), commercial lending banks, insurance brokers’ and insurers’, various money transmission providers, the credit ratings agencies, and the European Investment Bank.

Job Accountabilities

• Ensure that the group’s cash is invested as efficiently as possible whilst ensuring that counterparty risk limits are adhered to
• Liaise with bank counterparties to calculate and agree MTM collateral positions, indexations, settlements and daylight exposure limits. Dealing treasury instruments such as interest rate & FX swaps
• Monitor early warning triggers on bank counterparty credit quality, including credit ratings changes
• Understand treasury policies and procedures and the mandates which govern the groups transactional and control arrangements with relationship bank
• Deep understanding of the Treasury Management System and other treasury applications in order to, among other things, design reports, set up new processes to adapt to changing circumstances, improve process efficiency and resolve any systems issues
• Assist in producing and collation of monthly treasury management information in relation to market risk, credit risk, liquidity risk, capital risk and dealing operations (with quarterly reporting to the treasury committee) which requires a good understanding of Access databases
• Assisting in the drafting of papers to the treasury committee and collation of treasury risks for the Business Unit Risk Assessment forum, including any treasury risks to be presented periodically to the Audit committe
• Maintaining compliance with covenants within the group’s debt financing agreements to ensure compliance and the group avoiding a breach/default, including liaison with, and providing assurance to, senior management for sign off
• Providing support on the annual insurance renewal plus any ad-hoc insurance activities, and any money transmission/customer payment channel activities
• Providing support on ad hoc projects such as; project finance, any tenders where banks are likely bidders, assessment of developments which impact treasury activities (such as regulatory changes), reviewing opportunities in the treasury’ field requiring technical understanding and consideration of wider commercial impact

Knowledge and Skills

• Qualified accountant (ACA, CIMA, ACCA) (but may consider a finance professional studying towards an accounting qualification)
• Educated to degree level and academically strong
• Strong IT skills, with extensive experience of working in regular software packages e.g. Word, Excel, PowerPoint, Outlook
• Excellent analytical and problem solving skills
• Risk and commercially aware
• Good communication skills both written and verbal
• Ability to communicate effectively with a wide range of people (both internal and external) and capable of operating at different levels within the organisation
• Accuracy and attention to detail/focused on quality and results
• Team player
• Stable under pressure and methodical with the ability to work under own initiative and to plan and prioritise workloads and effectively manage competing demands/work to tight deadlines with flexibility
• Numerate background with Mathematics and/or computing A-Levels preferred
• Advanced IT skill e.g. experience of working in visual basic/macros
• Experienced finance professional – relevant experience gained in a FTSE100 finance team
• Open to completing an Association of Corporate Treasures Qualification.

Additional Information

We need fantastic people to enable us to deliver a great service to the public. We are committed to reaching and recruiting from every community and then supporting employees to achieve their full potential ensuring they feel valued and included, regardless of their gender, age, race, disability, sexual orientation or social background.

If you are offered a job with us, a number of pre-employment checks need to be carried out before your appointment can be confirmed. Any offer of employment with United Utilities will be subject to a satisfactory checking report from the Disclosure Scotland / the Disclosure and Barring Service.
Closing Date: 16/06/22