Basic qualifications:
What Qualifications & Experience do I need to Apply?
•AMCT level or CIMA, Bachelors Degree in finance or accounting or related field.
•Treasury experience.
•Understanding of banking and global cash management operations.
•Strong financial skills.
Experiences – Basic
• Managed cross-border transactions.
• Strong verbal and written communication skills.
• Strong analytical and problem solving skills.
• Flexible thinking.
• Strong interpersonal skills.
• Experience working in two or more cross-functional teams to deliver to a fixed timeline.
Preferred qualifications:
• Multi-country, international work experience.
• Experience negotiating loan documentation.
• Experience leading cross-functional teams to deliver to a fixed timeline.
Details:
What is the purpose of this role?
We invite applications from talented Manager’s for Global Treasury, covering the Eastern Europe and CIS region to drive the implementation of Treasury risk management strategies and financing of GSK operating units in specified markets.
To ensure Local Operating Company (“LOC”) compliance with Treasury policies. And to work with the Director – Global Treasury Consultancy (“Director – GTC”) to develop expatriation solutions for locally trapped cash.
What would my key responsibilities be?
• To lead the development of efficient funding and defunding structures for LOCs .
• To minimize financial risks through the monitoring of LOC compliance with Treasury policies.
• To identify, escalate and resolve treasury issues arising on local acquisitions and divestitures.
• To lead the treasury integration effort on company acquisitions.
Expected Delivery.
To identify, agree and implement local funding, defunding, investment and cash management strategies with input from LOCs, regional finance and corporate colleagues. This includes interco loans, CP investments, third party loans and investments, credit facilities, and the negotiation of factoring agreements with third party providers.
To take responsibility for advising Operating units on the management of day-to-day Treasury matters, including:
• Effective communication of Treasury Policies to LOCs.
• Close monitoring and management of trapped cash and development of strategies for expatriation of trapped cash.
• Developing Capitalisation strategies for LOCs.
• Monitoring Treasury activities in LOCs to ensure compliance to agreed strategies and Treasury policies.
Responsible for management of GSK key regional and local banking relationships in specific regions to ensure adequate support for the LOCs and to stay abreast of trends and new product offerings.
Leading due diligence efforts for local company and product acquisitions and divestitures.
Preparing and presenting Treasury Management Group papers relating to LOC activity and investment positions.
Review local investment opportunities, assess appropriateness of these structures and bring forward appropriate structures for approval at the TMG.
Leading the Treasury integration effort for M&A activity in specified markets.
Negotiating local cash management documentation (e.g. CLS).
To work with the Director GTC to develop strategy for:
The management of GSK’s overseas investment portfolios totalling approximately £1bn in value, particularly evaluating the risks and benefits of investment types for inclusion in local portfolios.
Innovative methods to expatriate cash from countries with challenging foreign exchange regimes. This includes liaising with banks and advisors.
Impact & Risk
• The impact to GSK from this role will be to add value from LOC financing activities by ensuring efficient financing structures consistent with agreed policies.
• This role is key in ensuring that no losses are incurred in LOCs from investments or other financial activity.
• For M&A, this role is critical in ensuring that the value is delivered from each acquisition.
• Post deal closure, it is the detailed integration work which enables GSK to deliver value to shareholders.
• Lack of liquidity in the LOC resulting in late payments to suppliers and payroll.
Management of a £1bn investment portfolio.
Working with the Director – GTC to maximize the ability to repatriate trapped cash or increasing transparency on reasons why cash cannot be repatriated. Reduction of local trapped cash will increase GSK’s global debt capacity by making trapped funds available to the Group for use.
Problem Solving
• There is constant change in the political and economic landscape of the LOCs which is compounded by regulatory constraints. This needs to be considered in looking for creative solutions to meet the changing business requirements.
• Problem solving skills and creative solutions are also needed in exploring alternatives for extracting funds, injecting funds or investing in the LOCs, especially in the Emerging Markets.
• Each country/legal entity has its unique issues. Funding and cash mgt strategies need revisiting and adjusting throughout the year to meet the changing business and regulatory requirements.
Scope Data (budget / sales responsibility)
GSK Total Net Sales (including ViiV): 2013: £26.5bn; 2012 £26.4bn
Total Group Cash: 2013: £5.2bn. 2012: £3.9bn
Estimated Trapped Cash: >£1bn
# of countries: > 100
# of legal entities: > 450
Creating Business Solutions.
•Respond to the rapid changes in the local environment and changing needs of GSK by working with the LOCs, financial institutions and other Corporate Departments to identity creative solutions to minimize and control risks in an efficient and effective manner.
•Engaging the LOCs to understand the business drivers and requirements to support their objectives.
Influence & Communication
•Identifying solutions and new ways of working and communicating this to the LOC, the TMG and other corporate groups. Consult with relationship banks and other suppliers and advisors (outside counsel, KPMG, PWC)
•Addressing compliance issues with regard to Treasury policies.
•Ensuring Treasury is a valued and requested participant in LOC business discussions.
Project Scope.
Project work includes: Negotiation of loan documentation, M&A integration, Treasury activities relating to in-licensing or product divestitures, major legal entity restructurings and larger dividends.
Interpersonal Skills.
The primary focus is with the local Finance Directors (“FD”) but other important contacts include the Regional FD, Business Shared Services, Corporate Departments including Global Tax, Corporate Legal, GFRA and Corporate Secretariat, and the TMG. Skills required include excellent communication skills, influencing skills, and a team focus.
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What Total Reward Package will I receive?
Competitive Salary
18% Target Bonus
26-days paid holiday
Personal Healthcare, with the option to purchase family cover
GSK Pension
Share & Save Schemes
Total Reward Discounts
Health MOT
How Do I Apply?
Closing date for applications: Midday 21st October 2016
NOTE - Please take a personal copy of the Job Description, as this will not be available after the closing date of the advert.
When applying for this role, please use the 'cover letter' of the on-line application to clearly describe how you meet the competencies for this role, as outlined in the job requirements above. The information that you have provided in your cover letter will be used to assess your application.
If requiring an adjustment for a disability once selected for an interview, you may contact ukdiversity.recruitment@gsk.com’
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Contact information:
You may apply for this position online by selecting the Apply now button.
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