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Learn more: jti.com

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 running on time and that resources are allocated appropriately.  Support the Forecasted Cash Flow team with their hedging programs and other departmental activities when necessary

 

• SAP: Solid understanding of SAP Exposure and Hedge Management modules are essential to have a strong understanding of JTI's FX exposures given that all exposures are collected through SAP.  Ability to manipulate SAP modules to your requirements and utilize it efficiently and effectively is important.  

 

Who are we looking for - Requirements:

 

• MS/MSc in Finance, Economics or Accounting. ACCA, CPA Preferred. 
• Minimum 5-7 years relevant experience in Finance/Treasury/Accounting/Economics in a multi-national corporation or a Big 4 audit firm
• Fluency in English with French a plus
• Proficiency in Microsoft applications with mastery of Excel
• Working knowledge of SAP, Microsoft products, and experience with treasury systems

 

WHAT’S IN IT FOR YOU? 

 

  At JTI we believe in the importance of a good work-life balance: we offer lots of opportunities for development and career progression – across functions and internationally. Maybe that’s one of the reasons why our employees stay on average an impressive nine years with us, and we have been certified as a Top Employer for over thirteen years now. Want to know more about how our employees rate us? Please visit https://www.glassdoor.com/Reviews/JTI-Japan-Tobacco-International-Reviews-E6359.htm

Next to a rewarding compensation package, we offer a range of other perks and benefits:

•    The opportunity to work 50% of your time outside of the office and 10 days abroad per year • Working from home equipment (e.g., chair, screen, mouse, and keypad)
•    25 vacation days + 9 so-called ADV days on full-time base
•    13th-month salary •    Contribution-free pension
•    bonus scheme

•    Car allowance
•    Great development and training opportunities based on your ambitions and capabilities 
•    Different engagement activities such as dinners, drinks, social gatherings, parties etc.
•    Commuting allowance and working from home allowance
•    Business laptop and iPhone 
•    Unique Family leave policy (at least 20 weeks fully paid parental leave regardless of gender, sexual orientation, or the way of becoming parents)
 
 
Sounds interesting? We’d love to hear from you! To make it easier for you to apply, there is no need to upload a cover letter. Only your CV is enough because we wish to get to know you in person.

WHAT ARE THE NEXT STEPS – RECRUITMENT PROCESS

We will review all applications and make sure that every candidate receives a reply within 3 weeks after the application deadline. If we find your profile matches what we are looking for, one of our Talent Advisors from Warsaw will contact you as a first step.

 

 
DIVERSITY & INCLUSION

JTI is committed to creating a diverse and inclusive work environment. We celebrate the differences that make us unique and strongly believe in a world where you have the freedom to express yourself. Where you can be proud and confident no matter who you are. A world in which we are all equal!
That’s why all applicants will receive fair consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, parental, or pregnancy. Want to know more about Diversity and Inclusion at JTI? Please visit https://www.jti.com/about-us/our-business/freedom-be-yourself
 
This is not your next career step, but you know someone who is a perfect fit? Please let us know!
JTI considers it important that this job vacancy is shared as much as possible. JTI, therefore, invites everyone to share this vacancy with people who might be interested and/or suitable for it. If this results in JTI hiring a suitable candidate, you can, under certain conditions, receive a referral bonus of 500 Euros, to be paid out in the form of vouchers. Want to know more about this bonus? Please contact Roy Blokvoort (at [email protected]) and ask for the conditions. This policy does not apply to recruitment agencies or recruitment consultants.