Head of Treasury & Structured Finance - Milton Keynes

Volkswagen Group; Bicester; On-site; GBP 80,000 - 120,000; Full time

Job summary

An international automotive company located in Bicester is seeking a Head of Treasury & Structured Finance to lead the development and execution of strategies related to funding and liquidity risk management. The ideal candidate will possess strong leadership experience and demonstrate proficiency with regulatory compliance, effectively managing relationships with various stakeholders, including investors and auditors. This role offers a unique opportunity to impact the company's financial strategies significantly.

Benefits

Employer pension contribution of 9%

Employee Car Ownership scheme

Income protection and life assurance

Access to private medical insurance

Qualifications

• Demonstrable leadership experience in Treasury Function operations.
• Ability to manage external relationships with stakeholders like investors and auditors.
• Strong understanding of liquidity and risk management.

Responsibilities

• Develop and execute the strategic direction for Treasury & Structured Finance.
• Lead the Treasury teams, fostering a high-performance culture.
• Manage projects and oversee operating budgets effectively.
• Ensure compliance with regulatory requirements from FCA & PRA.
• Implement Treasury aspects of new funding sources.

Skills

Leadership experience

Building relationships

MS Office proficiency

Knowledge of regulatory environment

Education

Chartered Treasurer (ACT) or Qualified accountant (ACA, ACCA)

Tools

SAP accounting system

Job description

We're looking for a Head of Treasury & Structured Finance to own and lead the development and implementation of the Company's funding, liquidity risk and interest rate risk management strategies to be aligned to the risk appetite of our organisation. You'll have a broad variety of commercial, management and technical influence across the organisation, along with extensive interaction externally with both existing and potential investors, banks, rating agencies, lawyers, auditors and regulators to identify new sources of funding and maintain existing relationships. You will have a key focus on researching, understanding and devising solutions for how new technologies in IT, Banking and Legal can be applied and integrated within our organisation and new product designs to ensure we have efficient funding so the Company's asset base can be achieved.

Responsibilities

• Develop and execute the strategic direction for the Treasury & Structured Finance function, including funding requirements, customer deposit structure, ABS deal launches, liquidity and interest rate risk management.
• Effectively lead the Treasury & Structured Finance teams, providing coaching, direction and focus, resulting in a proactive high performing culture and providing appropriate levels of oversight.
• Be a key decision maker and advisor to the Director Treasury & Direct Banking on relevant projects and courses of action, while understanding the impacts of the decisions across the business and managing the functions operating and project budgets.
• Represent the business and work closely with external investors, regulators, auditors, lawyers, rating agencies to investigate new propositions and ensure best business outcomes.
• Provide input, technical oversight and act as a consultant, advisor and troubleshooter to the business for liquidity, cost of money, hedging and structured finance related issues that may arise.
• Ensure sufficient funds are available to meet the operational, investment and refinancing requirements of the UK entities in the short, medium and long term planning scenarios.
• Lead discussions in the Markets, Capital and Liquidity Risk Committee (MCLRC) that inform the CFO of the overall funding landscape, highlighting key risks and mitigating actions, and provide relevant information, commercial and market commentary for the monthly meetings of the Enterprise Risk Committee and HQ escalations.
• Establish workable contingency plans that can be activated during times of liquidity stress, ensuring interest rate and liquidity stress scenarios are appropriate for the market with suitable management strategies and policies.
• Accountable for interest rate risk management by interpreting and working within the interest rate risk framework, actively reviewing and managing the Asset Liability Mismatch (ALM) and hedging / swap requirements to ensure compliance with defined limits and targets.
• Work closely with Headquarters (HQ) to identify, analyse and advise on the impacts of new / diverse funding opportunities, focusing on liquidity availability, interest rate risk, hedging requirements and the P&L cost of money implications.
• Understand the regulatory environment and its requirements under FCA & PRA supervision; ensure the company remains compliant, respond promptly to regulatory changes and implement necessary measures.
• Implement the Treasury aspects of the Retail Savings Bank as a new funding source into the overall refinancing structure, assessing timing, stability and withdrawal behaviour of deposits for accurate forecasting and adequate liquidity coverage.
• Own the ILAAP process and related inputs to ensure Volkswagen Savings Bank and the VWFS UK Group consistently meet regulatory requirements, defining and implementing the liquidity strategy, conducting regular liquidity stress tests, maintaining contingency funding plans, and overseeing documentation and internal validation.
• Ensure a secured and diverse asset refinancing strategy exists through leading the Company's successful Structured Finance (ABS) programme.
• Initiate investigations into new ABS deals/asset classes, determine and agree the business requirements, and identify suitable suppliers.
• Ensure new regulations (e.g., STS) are implemented efficiently to maintain VW's position as a market leader, setting market precedent for the UK Auto ABS sector.
• Negotiate with multiple investors, rating agencies and auditors on complex financial issues and structures to drive the most efficient transactions.

What You'll Bring

You're a Chartered Treasurer (ACT) or Qualified accountant (ACA, or ACCA) with a good understanding of Treasury and Accounting with demonstrable leadership experience of Treasury Function operations. You'll have a passion for driving performance through effective coaching and mentoring, developing talent and performance management and achieving results through people.

Essential Experience & Skills

• You have experience of dealing with external parties including Investors, Rating Agencies, Regulators and Banks.
• Experience of working within Financial Services or Banking and you have an understanding of the core aspects of our product portfolio and their financial impacts.
• You can build strong relationships both internally and externally to gain commitment and support.
• Role model standards with regards to behaviour, culture and performance to ensure they are embedded.
• Maintain a working knowledge of market and credit risks and take action to improve your own skills and development.
• You’ll need an in depth knowledge of MS Office packages and be experienced with SAP accounting system.
• This is a multi-layered role so you will need to be able to anticipate and understand the interdependencies between the different elements to your role and also different functional areas.

Why Join VWFS UK?

We’ll give you the opportunity to make a difference through owning and leading the development and implementation of the Company's funding, liquidity risk and interest rate risk management strategies aligned to our organisations risk appetite. In doing this, you will be helping us to achieve our mission.

Our mission is straight forward; we want to be 'The Key to Mobility'. That means we make getting from A‑to‑B as easy and simple for as many people as possible. To truly meet the mobility needs of people in a changing world, our offering goes beyond traditional vehicle financing. We do this by providing a range of finance and aftersales products on Volkswagen Group vehicles, as well as developing innovative mobility products designed to solve real problems and support our customers.

VWFS is proud to be an inclusive employer and encourages applications from a diverse range of candidates. Diversity, Equity & Inclusion isn't just a statement for us, we encourage and aspire for all our colleagues to be their 100% self. If you need any reasonable adjustments to assist you with the application and/or recruitment processes, please contact our Resourcing Team. The Head of Treasury & Structured Finance is a "Certified" role under the Senior Manager and Certification Regime (SMCR) and the role holder is required to comply with the FCA's Conduct Rules.

Pension: Employer pension contribution of 9% (based on employee contribution of 3%). VWFS will pay 6% if employee chooses a 2% employee contribution.

Car Schemes

• Choice of Employee Car Ownership (ECO) scheme for petrol/diesel and hybrid vehicles plus car insurance and fuel card.
• Company Car scheme for Battery Electric Vehicles (BEVs) plus car insurance cover for you and a partner/eligible family member.

Other benefits: From day 1 we provide income protection, life assurance (4x salary), retail discount vouchers, access to Care Concierge (a service to support carers of adults), along with other salary sacrifice options including a will writing service and cycle to work (subject to scheme restrictions). Following successful completion of probation, you will have access to private medical insurance for you and access to our loan car scheme for up to 2 cars for your partner or eligible family members (subject to scheme restrictions) and during our annual benefit window you can purchase critical illness cover and dental cover , so you can select the benefits that matter to you. We invest in our people and are passionate about driving development. You'll have access to LinkedIn Learning via our Degreed platform as well as a host of professional development programmes and opportunities to build your technical and soft skills so you can further develop your career. We also offer mentoring schemes and reciprocal partnerships recognising that we can all learn from each other in the flow of work.