Assistant Treasurer, Europe & Asia (BGC Group and CF Group)

BGC Partners
27 Jul 2017
15 Aug 2017
Contract Type

Key Responsibilities:

Core Activities

Strategy / Framework / Policy:

  • Assist in the ownership of the various Liquidity regulatory reporting, policies and assessment including the Individual Liquidity Adequacy Assessment (ILAA), Recovery Plan and Resolution Pack (R&R) which are reviewed and approved by the FCALCO and the Board;
  • Asset and liability management, including the management of funding and liquidity;
  • Monitoring and adherence to the Boards' liquidity risk appetite;
  • Assist in the review / update of ILAA and R&R at least annually or as required;
  • Assist in the review / update of other treasury policies as appropriate;
  • To take account of all financial and regulatory compliance requirements and associated thresholds; and
  • Ensure individuals responsible for managing liquidity are sufficiently experienced and fully understand the requirements.

Liquidity management:

  • Manage day-to-day funding, investment, cash and liquidity positions;
  • Manage the Liquid Asset Buffer security portfolios and liquidity reserve pools;
  • Monitor whether appropriate structural liquidity is maintained within the firms. Assist with proposals and recommendations to the FCALCO and the Board toward the most efficient capital and liquidity structure;
  • Participation in the global management of bank relationships with particular emphasis on ensuring sufficient financing capacity is in place for UK regulated entities and for liaison on creditor related issues.
  • Ensure liquidity can be accessed to meet requirements, as needed, particularly in a period of stress;
  • Maintain access to sufficient intra-day liquidity facilities to meet clearing / settlement obligations;
  • Help maintain market confidence in the institutions by appropriate liquidity management;
  • Review trade settlement needs and processes to ensure most optimal use of liquidity; and
  • Assess liquidity / treasury implications for proposed new products, services and activities.

Limits / Monitoring:

  • The assessment of liquidity needs under normal and stressed conditions via:
    • Ongoing monitoring and production of the Maximum Cumulative Outflow vs Liquidity Reserve (MCO/LR) / Net Cash Capital (NCC) position,
    • Ongoing monitoring of the FCA Individual Liquidity Guidance position
  • Maintain levels of liquidity within FCA guidelines and board approved limits;
  • Ensure sufficient liquidity resources are held to meet own assessment of liquidity needs under normal and stressed conditions.
  • Manage cash flows within acceptable mismatch limits and make recommendations as appropriate; and
  • Ensure Treasury activities are performed within the FSA's large exposures limit framework.

Individual Liquidity Adequacy Assessment (ILAA):

  • Assist in the production and annual update of the ILAA and related documents and where not required the Contingency Funding Plan, which are reviewed and approved by the FCALCO and the Board

Stress Testing:

  • Maintenance of the stress testing framework, including the local application of the Group's stress testing framework;
  • Design appropriate stress testing; and
  • Review and update stress testing policy;

Funds Transfer Pricing:

  • Assist in the production of the FTP framework for the UK regulated entities, including the local application of the Group's FTP framework;
  • Review of FTP policies;
  • Review the basis on which business units are charged/credited in respect of funding, liquidity and capital in accordance with the firms' cost of carry framework;
  • To accurately price liquidity costs, benefits and risks; and
  • Ensure appropriate implementation and operational effectiveness of policies;

FX Exposure:

  • Monitoring of FX Exposures according to the firms' FX risk appetite.

Reporting / Communication:

  • Report to the governing bodies, CFO, and CEO of the firm on matters relating to execution issues such as limit breaches, control concerns and implementation of remedial measures;
  • Assist in the production of effective and timely communication of asset, liability and liquidity risk positions to the governing bodies, CFO, and CEO of the firm, other internal stakeholders and the Group as appropriate;
  • Review exceptions / excesses to internal and regulatory policies and limits;
  • Escalation of issues to management / committees as required;
  • Report on the effectiveness of Treasury processes, policies and controls when requested; and
  • Review and challenge of FCA liquidity reporting (FCA047 / 048);

Creation and circulation of MI:

  • Managing the Treasury related agenda and MI for the governing bodies plus attend meetings as required; and
  • The development, maintenance and distribution of appropriate MI;

Skills / competencies required:

  • Strong understanding of the current liquidity framework in regions concerned;
  • Involvement in production of ILAA, Recovery and Resolution documents;
  • Previous management experience;
  • Solid understanding of financial securities and settlement methods; and
  • Strong Excel Skills

Systems used:

  • Sunguard CMS
  • Access; and
  • Oracle

Personal attributes:

  • ACT Qualifications preferably to Diploma level;
  • Ability to influence;
  • Drive to challenge, innovate and develop the business;
  • Strong communication skills and ability to present to committees and Boards; and
  • Highly numerate and literate.