Virgin Atlantic Airways Group Treasurer
Role Purpose
Provide senior leadership and management of the treasury function for Virgin Atlantic Ltd (principally Virgin Atlantic Airways and Virgin Holidays) covering all banking activity, currency and interest rate hedging, cash and liquidity management, and payment processes.
The role is responsible for ensuring the airline has an effective financial risk management approach, strong controls for all treasury activity, well developed systems and processes for payments and receipts, high quality information and analysis, and that these elements are suitably exploited to drive the financial performance of the Group.
Responsibilities
Cash & Liquidity Management
Manage relationship with key banking partners
Ensure efficient transactional banking structures are in place and operating – with a focus on suitable service levels and costs (supporting £3bn turnover business)
Exploit technology effectively to manage group cash
FX – Liquidity & Financial Risk Management Ensure that the Group FX position is accurately and efficiently managed on a daily basis
Develop and implement appropriate FX Hedging strategies – in line with Group Risk Management approach, to manage Group FX exposure
Actively manage the Group FX Hedging portfolio: ensure cash exposure is managed and that the approach is suitable for accounting and reporting
Interest Rates – Financial Risk Management Ensure that the Group Interest Rate position is accurately and efficiently managed
Develop and implement appropriate Interest Rate Hedging strategies – in line with Group Risk Management approach, to manage Group Interest Rate exposure
Credit Card Management Determine and implement strategy to effectively manage credit card receipts and payments
Manage relationships with key suppliers – acquirers, PSPs, etc. including negotiations of fee structures
Financial Information, Reporting and Controls Provide high quality financial information to the Financial Risk Committee to facilitate management of key business exposures
Ensure quality assessment and reporting of underlying business exposures, with regular review
Ensure full controls are in place to cover all banking and hedging activity – with appropriate segmentation of responsibilities and authorities within the Treasury team
Leadership and management of the Treasury Team Working as a member of the CFO’s senior leadership team, develop robust and effective divisional and departmental plans to drive business performance.
Develop the skills and capabilities of the staff within the Treasury team: ensure suitable cover within the small team and look for succession opportunities
Ensure that the Treasury team work effectively cross functionally – particular with other areas of Finance and other key interface departments
Requirements
Degree educated or equivalent gained through professional experience
Qualified accountant or Treasury Specialist with significant experience which includes broad FX
Hedging knowledge, ideally gained in large multinational corporate
Experience of managing large and complex foreign exchange and interest rate exposures
Ideally with significant exposure to the airline or related industry
Experience of handling external suppliers and service providers – particularly in banking and cards environments
Strong people management and leadership skills – particularly around leading by example, coaching and development
High levels of interpersonal skills with the presence, gravitas and ability to challenge and influence at a senior level
Highest levels of integrity
Additional Information
Frequent UK based travel, particularly to suppliers / banking institutions (mainly in London)
Some international business travel may be required on an infrequent basis.
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