Job Description

• To deliver efficient Banking operations as appropriate for Emirates Group’s volume, complexity, and geographic spread, with a focus on the following areas:
• Mobilise and invest funds at HO & Outstations profitably and on prudential norms
• Exchange Group’s substantial foreign Currency requirements at the most competitive rates
• Ensure efficient design and maintenance of process controls and governance around Banking Operations
• Provide Hedge Solutions across the market risk spectrum of Emirates Group.

Job Accountabilities:

• Establish and back test models to effectively assess and manage hedge strategies to movements in foreign currencies, interest rates and fuel prices, thereby managing volatility of the Group’s profitability as governed by the Corporate Treasury (CT) Policy. Challenge and validate quantitative hedge proposal models from banks.
• Conduct on-going research of best practice consumer hedge strategies and products in financial markets and brief to senior management. Recommend to CT senior management appropriate strategies on hedging and spot positions and engage them to influence programme performance to mitigate impact on Group’s financial performance.
• Scope and run independently scenario analysis to stress test the companies hedge portfolio as well as the unhedged exposure components with the aim to simulate Balance sheet impacts of respective market scenarios. Calculate and maintain the Groups target Value at Risk (VaR). Track and validate hedge accuracy of forecasts against actuals. Recommend and drive amendments to the forecasts and structures to CT senior management.
• Being an advanced user of Bloomberg Terminal, Excel Plugin, you champion its application by maximizing efficiency gains and analytical insight for the wider Treasury realm of Emirates Group.
• Support CT senior management in conducting ad-hoc quantitative market risk exposure analysis required as per the prevalent market situation, which combines financial market and product knowledge with fundamental macro economical forces.
• Conceptualise the monthly, quarterly, and other periodic MIS and analyses of market insofar as they may affect the Group’s exposure with regards to investment portfolio (HO & Outstations) as well as FX Spot business to keep all stakeholders informed and facilitate decision making in the areas of investments and spot conversion. In particular, provide focus on network-wide cash balances, overseas remittances, counter party credit risks, repatriation issues, interest income/cost and any other exceptional developments.
• Develop and maintain effective relationships with all internal and external stakeholders. Internal stakeholders are GL, Outstations Finance & Risk Management, Accounts Payable, Payroll, Cashiering and FAMs. External stakeholders are various relationship banks, PwC, Internal Auditors and Government Auditors. Also provide periodic guidance to Group’s subsidiaries in the areas of currency, investments, cash management and banking.
• Manage Group’s investments so as to optimise total returns, within reasonable and prudent levels of risk. Ensure safety of principal when investing funds across short, medium and long tenure to meet cash flow needs and to provide competitive investment returns. Also ensure that efficient cash planning is put in place to minimise overdraft needs by mobilising funds in a timely fashion.
• The jobholder is required to constantly research the financial markets and time the Spot business to benefit from volatility and the market trends. Where Head Office is not directly involved in Spot conversion business, ensure that Finance and Accounting Managers (FAMs) across the network have enough guidelines to bid currencies to most competitive counter party.

Qualifications & Experience

• Degree or Honours (12+3 or equivalent) Qualified Chartered Accountant or equivalent
• 8+ yrs Professional experience in Finance within a large corporation or financial institution. Experience within commercial treasury departments preferred

Knowledge / Skills:

• Negotiation skills to get most profitable deal on investing and FX Spot conversion
• The jobholder is required to maintain productive working relationships with Banks and Financial Institutions as well as internal stakeholders.
• Timely and independent decision making to benefit from financial market trends
• Attention to detail in order to handle live cash deals on time, within banking hours and with accuracy
• Strong analytical background.
• Experience of dealing with Auditors, knowledge of Treasury system Quantum SunGard, preferred.

Must have skills:

• Treasury Risk or Hedge Advisory Consultancy or Banking Front office hedge advisory experience
• Expertise in financial risk management and trading with passion for simulations for back testing, quantitative scenario analysis.
• Advanced user of Bloomberg Terminal, Master in Microsoft Excel especially Bloomberg Plugin

Skills Required

• Microsoft Excel
• Negotiations