Head of Treasury

Role Description

• Leadership of the Bank’s Treasury Function including Funding Strategy, Liquidity Management, Interest Rate Management and Treasury Asset Management
• Member of senior leadership team with responsibility for treasury and ALCO
• Ensure that appropriate financial systems and controls are in place within Treasury, including to model liquidity and IRRBB risks
• To keep under review all legislative, regulatory and government developments that might affect treasury and to maintain up to date policies and procedures
• Contributor to Bank’s budget for Treasury related matters
• Lead development of the Bank’s funding plan and strategy, to support the evolution and growth of the Bank’s loan book, manage liquidity and interest rate risk, and to minimise funding costs
• Ensure that the Bank has sufficient liquidity to meet its obligations and is in compliance with Regulatory Liquidity Guidance, LCR, NSFR and internal risk appetite at all times
• Work with Finance, deposits and lending divisions to understand future liquidity needs and to shape and manage the maturity profile of the deposit book
• Lead the design and approval of the Bank’s Funds Transfer Pricing approach
• Responsible for preparation of and compliance with the Bank’s ILAAP and all regulatory requirements in relation to liquidity management
• Responsible for contributing to the liquidity risk components of the Bank’s Recovery Plan
• Ensure that appropriate financial systems and controls are in place within Treasury
• Investment of surplus liquidity
• Liaison with Money Market Counterparties and Bank of England
• Understand, model and manage existing and projected interest rate risk in the banking book to within appetite
• Work with prudential risk manager and finance team to calibrate appropriate IRRBB appetite within ICAAP
• Lead use of interest rate swaps to manage IRRBB, including operating to meet the requirements of hedge accounting Treasury assets
• Management of treasury assets held, where appropriate (currently gilts portfolio)
• Review and management of Money Market Counterparty Limits. PRA, Bank of England and other counterparties
• Able to lead engagement with PRA on treasury matters, including during L-SREP and C-SREP visits
• Own relationship between the Bank and Bank of England in relation to reserve account, liquidity facilities and other relevant matters
• Own relationship between the Bank and with money market counterparties, including Nostro and swap counterparties

Role Requirements

• Ability to lead and develop the treasury team of a growing bank and deliver a Treasury Strategy and Funding Plan
• Ability to identify and support strategies to minimise cost of funds while providing necessary funding for assets, controlling interest rate risk and operating within risk appetite
• Strong commercial focus and ability to work within a collegiate culture to maximise the success of the Bank as a whole
• Operational competence in managing all relevant treasury risks (primary liquidity and interest rate), including through use of interest rate hedging instruments
• Knowledge and experience of liquidity and interest rate stress testing
• Knowledge of PRA rules relevant to treasury operations– and to keep this up to date
• Ability and experience to develop and write the Bank’s ILAAP, and present it to Board Risk Committee and Board
• Ability to explain and articulate complex concepts to Board members and management, e.g. to present and explain ILAAP and dynamics of IRRBB management
• Experience on engagement with regulators on treasury matters
• Experience of managing excess liquidity and treasury investments and of associated capital requirements and liquidity treatment
• Knowledge and experience of Bank of England facilities (SMF, TFSME, DWF, ILTR, SCP) and related collateral pools
• Experience in using interest rate swaps and awareness of accounting and capital considerations when using swaps to hedge IRRBB
• Securitisation experience would be advantageous