FX Project Junior Manager – fixed term contract
Fixed term contract start date 19.08.2012
Fixed term contract end date 31.05.2013
Group Treasury operates across 3 locations (London, Dublin and Budapest) and carries out a full range of Treasury activities, including group funding, investment of funds, FX and interest rate risk management, cash management, risk financing and corporate finance. In addition, Treasury is an advisor for wider business decision-making. The team seeks to add value to the Group through the design and implementation of appropriate policies, procedures controls, the reduction of volatility, and, within policy guidelines, the minimisation of funding and other related costs.
The FX team is responsible for designing and implementing Diageo’s FX strategy through policy, forecasting FX exposures (transaction and translation), managing the FX exposures, FX execution and providing an advisory role to the business.
The FX team is currently split between London and Budapest. Some travel may be required. The role is based in Budapest.
Dimensions of the role
- Diageo produces and sells it’s brands in over 180 countries creating significant FX exposure for the group. FX risk management is managed and executed centrally through the FX team with financial instruments – largely FX swaps, FX forwards and FX options.
- The FX team work with in-market and corporate project leads to ensure the FX forecasting and underlying balance sheet FX exposures are fully considered and incorporated into projects.
- The FX team is also responsible for the short-term cash management. The team manages a significant part of the group’s cash balances daily through cash pooling arrangements, intercompany accounts and FX swaps.
- The role requires the individual to be able to communicate with all levels of stakeholders including senior stakeholders such as regional FD’s, Group Treasurer, Group Controller and Treasury Directors.
c) Leadership Responsibilities
- No direct reports, although requires ability to influence and achieve success through non-direct reports. Some travel required.
Purpose of Role
- The FX Project Junior Manager will support the FX Risk Manager in all areas of strategic FX risk management focusing on embedding FX management guidelines for emerging markets and supporting tranfromational changes to business as usual.
- The role also requires support in current business as usual FX risk management activities for the FX risk management team.
- Lead and drive FX projects including in-market FX and organic projects
- Assess, develop and implement efficient and effective management of markets with high FX volatility and high inflation
- Lead and drive monthly currency benchmarking process as business as usual (TR FX and BS FX exposures managed on a value at risk (VaR) basis)
- Develop and embed management and organic reports and processes to support early FX impact discussions with markets and senior stakeholders (Group Controller, Investor Relations, Treasurer)
- Monthly Reporting: assist in submission of P&L FX gains/losses for relevant management entities, and management reports.
- Review forecasting and reporting of the assigned entities
Qualifications and experience required
- Educated to university/college degree level.
- 2-4 years’ work experience within finance in a multinational company, preferably in a foreign exchange environment.
- Experience at Treasury required
- Strong analytical skills.
Self motivated, confident and well organised approach to work with experience of multiple work-streams, project management experience
Business partnering skills: able to build and maintain excellent relationships with key stakeholders.