Purpose of the Role:
The OpCo Treasurer is responsible for the day-to-day management of assets and liabilities (the balance sheet) for the respective OpCo. Timely monitoring and forecasting on material changes in the balance sheet structures including shifts in funding profiles are central functions for the OpCo Treasurer. The incumbent drives optimal management of the local currency’s liquidity in accordance with the Bank’s strategic direction and stated risk appetite and has daily oversight of adherence to all applicable regulatory limits and requirements related to liquidity and Treasury activities. The Treasurer ensures liquidity metrics and applicable balance sheet ratios are maintained in compliance with applicable management targets and board limits including liquidity horizon, structural liquidity ratio, and other applicable liquidity metrics, along with DVO1 and structural FX exposures. The incumbent manages local currency investment exposures within assigned Treasury sovereign lines and credit risk mandates. Leads an effective asset liability management framework in the OpCo with associated responsibilities including deposit pricing reviews and timely assessments of the local currency funds transfer pricing structure to ensure ongoing relevancy and applicability with the business footprint. The Treasurer ensures strong relationships are maintained with the customer business segments to drive and support the attainment of agreed business plans and targets. Collaborates with the Group Treasury function on the preparation of all management reports and executive presentations including to the asset liability management team (ALMT) and the OpCo’s board of directors. Responsible for driving Treasury attainment of income targets and leading analysis of variances in Treasury income and expense lines; escalating to the Director, Regional Treasury Management as required. Pilots timely and insightful project delivery and reviews within Treasury. Representational functionality for Treasury at the country management committee (CMC). The Treasurer has expert knowledge on domestic economic dynamics and market trends.
Barbados OpCo Treasurer - with respect to the Holding Company, the Treasurer’s responsibilities include: liquidity management – cost effectively managing overdraft facility, management fees and dividend payments flows; regulatory framework – ensuring continued adherence to applicable regulatory guidelines; reporting – leading monthly and timely reporting to management; risk management – driving adherence to all assigned risk limits, manage structural position; projects and reviews – delivering timely analysis and driving recommendations and capital – assessing capital implications.
Balance sheet management:
- Supports the Director, Regional Treasury Management with tactical balance sheet management.
- Establishes the annual funding and liquidity plan.
- Leads annual preparation of the contingency funding plan, performing regular testing of incremental actions.
- Defines an appropriate funding strategy commensurate with the underlying asset liquidity.
- Works with customer and product groups to develop core funding and demonstrate asset liquidity.
- Maintains access and dialogue with local money and capital markets.
- Monitors and communicates any material changes in balance sheet structure to the Director, Regional Treasury Management.
- Performs metric analysis and delivers key reviews.
- Contributes to Board and ALMT reviews.
- Maintains sufficient asset liquidity to meet all maturing obligations in a timely manner.
- Ensures effective daily processes surrounding end-of-day settlement and cash-flow management.
- Supports balance sheet structure through timely actions to support key ratios and operate within approved limited at all times.
Barbados Holding Company:
- Directs liquidity management for Hold Co, coordinating receipts of management fees and dividend payments.
- Manages overdraft facility and ensure fully collateralized at all times.
- Works with risk management, product and customer groups to develop and assess products.
- Collaborates with Director, Regional Treasury Management to support business segments with risk appropriate and competitive pricing on client lending facilities.
- Ensures local and foreign currency client funding is dynamically reflective of current market conditions and business strategies.
- Proactively identifies the need for new products.
- Leads local currency product review and pricing recommendations.
Market risks and credit risks:
- Ensures structural FX positions are maintained within limits
- Ensures all market risks, including liquidity, yield curve, basis, convexity, and currency risks are identified and managed within approved limits.
- Collaborates with risk management, product and customer groups to:
- identify balance sheet risks.
- ensure the risks are correctly priced.
- ensure all hedgeable risks are appropriately transfer priced to treasury.
- ensure any residual risk is correctly identified, captured and reported.
- Manages daily exposures within assigned credit risk limits.
Regulatory conformity and governance:
- Ensures compliance with all applicable regulatory requirements and commitments including FirstCaribbean policies and practices and all accounting standards and requirements.
- Ensures execution of Treasury duties results in satisfactory MKCT ratings.
- Reviews and renews service level agreements.
- Interfaces with Director, Regional Treasury Management and local Finance teams for defining appropriate fiscal plans and budget setting for the unit.
- Supports Director, Regional Treasury Management in review and management of financial budgets.
- Analyses variances in expense income and expense lines.
- Publishes monthly assessments of income vs. plan, analyzing the income statement for the unit against target financial plans.
- Identifies incremental actions for achieving performance targets.
Project delivery and operational infrastructure:
- Manages to successful completion, business projects and process improvement initiatives.
- Performs continual assessments of current processes, delivering recommendations for achieving synergies in daily processes.
- Participates in regional Treasury deliverables and projects.
Critical Knowledge & Skills Required:
- Thorough knowledge of Treasury, Finance and related functions.
- Thorough knowledge of regulatory requirements.
- Asset & liability management.
- Proven contingency funding planning and scenario analysis capabilities.
- Managing operational budgets and variance analysis.
- Highly adept in Microsoft Office and Acumen.
- Strategic, business and financial planning skills.
- Exceptional analytical, forecasting, problem solving and investigative skills.
- Adept in applying methodical approach to coordinating and organizing workload.
- Exceptional communication and presentation skills.
- Strong interpersonal skills and ability to develop rapport with senior management.
- Business negotiation and influencing skills.
- Identifying, tracking, and forecasting business trends.
- Highly capable of completing multiple projects in an intense and dynamic environment.
- Proficient understanding of local markets, competition, geographic, macro-economic and global factors impacting Treasury activities.
- Degree holder (or significant work experience) with minimum of 3 years’ direct Treasury experience.
- Proven experience in relationship management, especially with regulators and customers.
Position reports to: Director, Regional Treasury Management
Function: Treasury - Finance
Expiry Date: 03 jun 2020