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Job Title: Treasury Manager, Global FX Risk Management
Contract type: Permanent, full time
Location: Amstelveen, Netherlands Professional area: Finance
Professional experience: Experienced

 

 Treasury Manager, Global FX Risk Management

 

 

What this position is about - Purpose:

 

JT Group generates a substantial amount of Foreign Exchange (FX) exposures from daily business activities.  Annually, JT Group has ~ $10Bn of FX exposure from more than 50+ currency pairs.  In addition, shorter-term FX exposures from Accounts Receivables and Payables add an additional ~$3Bn of exposures annually.  Minimizing the financial impact of these exposures is the main goal of this position.  These FX exposures generate a lot of volatility to our P&L and therefore need to be actively managed.  Managing all the hedge programs for JT Group requires several FTEs.  In this position, you will have several key responsibilities. 1. Will be responsible for managing the Commercial Balance Sheet hedging program. Specifically, in any given week, the Group generates more than 10000 invoices that are non-functional currency and the duration of the exposures ranges from 5 - 120 days.  These can be from intercompany and 3rd party transactions for Accounts Receivables and Accounts Payables.  2. Manage all the FX reporting for JT Group and be able to explain and educate the FX impact to the Profits and Losses to other departments like Corporate Accounting and Financial Planning & Analysis.  3. Manage all the IT changes necessary to maintain an effective and up-to-date hedging program. 4. Educate stakeholders (all local entities) on the accounting impact of the underlying exposures and hedging results.  .  

 

What will you do - Responsibilities:

 

In this position, you will act in 5 areas:

                           

• FX Risk Management: Manage the global (including Japan) Commercial Balance sheet Hedging program.  This is a program that aims to eliminate as much as practically possible, all the shorter term non-functional AR & AP FX exposures from JT Group.  The FX exposures must be actively managed daily with the goal to minimize FX from the P&L across all the entities.  Understanding the exposures, i.e. the payment terms for each items, the reasons for using a particular billing currency, the pattern of the payment terms per currency per entity per exposure type, are necessary.  Understanding all the regulatory implications are also essential as each country's regulation differ and will have impact on how we are able to hedge

 

• Reporting: Responsible for all monthly and quarterly FX reporting requirements.  Must be able to explain all the FX movements in the Group.  Understand all the various hedging programs (4 separate programs), the valuations of derivatives, and how they are accounted for in IFRS accounting standards.  A good understanding of IFRS 9-Hedge Accounting implications is important.  Must be able to explain all FX movements to colleagues, Corporate Accounting, and senior management

 

• Education: Understanding financial regulatory changes are necessary as changes could have major impact on our hedge programs.  Providing clear and concise explanation about our hedging programs is important.  Educating our colleagues, from entity finance, to corporate accounting, and senior management on the mechanics of our FX programs is essential.  Ability to clearly articulate the reasons and purpose of the hedging programs to external parties (i.e. auditors/consultants/investors) is necessary

 

• Project Management: Coordinate all SAP improvement activities on FX Risk management to enhance the entire FX hedging program.  FX exposures evolve across all the entities as business models change.  To align hedging programs to the business, and to new hedging strategies, we must constantly adjust our hedging programs.  IT modifications are always necessary.  Therefore, ensure all "change requests" workstreams are runnin