Balance Sheet FX Junior Manager (fixed term contract)

Balance Sheet FX Junior Manager (fixed term contract)

Fixed term contract start date 19.08.2012

Fixed term contract end date 28.02.2013

Context 

• The Budapest based BS FX Risk team forms part of the FX Risk
• management group, which also includes the Transaction FX project
• team and Transaction FX operative team.
• The BS FX Risk team is responsible for supporting the FX Manager
• managing translational FX Risk by coordinating Group net investment hedging and Balance Sheet Rebalancing, and lead a team  

Dimensions of the role

a) Financial

• Compiling forecasts of FX exposures for currencies already in scope.
• Investigating underlying drivers of material changes in
• forecast/actual FX exposures versus expectations.
• Monitoring accumulating over/under-hedge positions, in order to recommend any necessary adjustments.
• Preparing hedge deal requests (quarterly rebalancing), ensuring these are supported by necessary analysis of Actual variances and calculations on forecast.
• Coordinate net investment hedge accounting, ensuring it is supported with necessary (a/c standard compliant)
• documentation.
• Monthly/Quarterly management reporting.
• Building close working relationships with other key functions.

b) Market Complexity

• Assess understanding of the FX risk and possible impact of business activities within the Group. Recommend solution for FX risk management and facilitate the implementation.
• Key relationships:
• FX Manager
• Wider Treasury membership
• Group Finance, mainly FP&R teams in London and DBSC
• Global Business Support
• Diageo markets

c) Leadership Responsibilities

• Reports to the FX Strategy M anager.
• Leads a team of 2
  Promotes the right balance between accurate forecasting of the
• nominal exposures across the Group, and delivering the planned
• FX gain/loss for the year.

Purpose of Role

To support the FX Startegy Manager in all aspects of analysis, hedging and reporting activities in respect of FX exposures for the Group, maintain an appropriate control environment.

Top 3-5 accountabilities

• Ensure that variance between forecast and actual on nominal exposures remains within the agreed tolerance limit.
• Ensure that actual on FX gains/losses from revaluation of undesignated debt remains within the agreed tolerance limit.
• Ensure that P&L impact from ineffectiveness remains within the agreed tolerance limit.

Qualifications and experience required

Qualifications:

• Educated to university degree level
• 3-5 year post-qualified accountant (ACCA/CIMA equivalent is an
• advantage) with a working understanding of IFRS and US
• GAAP.

Experience:

• 3-5 years’ work experience within finance in a multinational company, preferably in a foreign exchange environment.
• Prior experience in accounting/audit area.
• Prior experience in working in an environment of change and continuous improvement and re-engineering.
• Treasury experience required.
• Good analytical and presentation skills.