Job details

London - Sutton
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Vacancy information

At Subsea 7, we take pride in being recognised globally as a leader across the Energy Industry. For 5 decades our people have delivered over 1000 projects in all water depths across our energy hubs and we continue to do so, adapting and evolving in an ever-changing world. 

Our success and sustainability are only made possible by continuing to develop our assets and technology through innovation and collaboration, and importantly through the development and diversity of our people who every day ‘Make Incredible things Happen’ at Subsea 7.                                            

OVERVIEW OF ROLE

Subsea 7 has an opportunity for an Interim Deputy Group Treasurer to work within our Corporate division in Sutton, London reporting to the Group Treasurer. This will be a 9-12 month contract opportunity.

The role comprises of three main elements: corporate external and internal debt strategy, centralised operational treasury and business treasury interface. The overall object of the role is to work in conjunction with the Group Treasurer to provide treasury services to the Subsea 7 Group.

Specific Key Responsibilities & Activities

  1. General
  • To deputise for the Group Treasurer in respect of communicating company policies and instructions to internal & external stakeholders.
  • To maintain commercial relationships with the Group’s banks in an effective manner including co-ordinating procurement/tender exercises and providing feedback to them on their pricing and performance.
  • To prepare numerical and qualitative disclosure information relating to treasury transactions and risks for internal and external reporting.
  • To manage and develop direct reports and provide guidance and coaching to finance colleagues within the Group on treasury related matters in order to deliver required outputs.
  1. Corporate Finance
  • To plan, negotiate and manage the efficient utilisation of debt capital in a manner consistent with the objectives of the organization, which may include debt / equity capital market bond financing, revolving committed facilities and asset backed securitisation.
  • To advise on external debt financing in Joint Ventures and subsidiaries.
  • Arranging bilateral performance and bid bond guarantee facilities.
  • To develop and maintain relationships with Credit Rating Agencies.
  • To oversee and develop liquidity, currency and interest rate risk management framework.
  • To negotiate, maintain and monitor compliance with contractual documentation relating to treasury transactions, including ISDA agreements and mandates, ensuring that current regulations and best practices are adhered to.
  1. Treasury Operations
  • To develop and maintain the Group’s Treasury Management System and related systems (including Sungard Integrity, Mysis, and 360T), leading any related contract and pricing negotiations to achieve low cost, high quality service levels.
  • To further enhance and maintain the Group approach to cash forecasting by providing direction and developing business processes to deliver timely and meaningful forecast cashflows to Corporate Treasury.
  • To act as principal derivatives dealer for the company, ensuring optimal pricing. Management and reporting of overall risk limits and exposures.
  • To monitor Group economic, and transactional foreign exchange exposures and to contribute to the continuous enhancement of hedging policies and methods.
  • To ensure compliance with financing documentation relating to external debt and guarantee facilities.
  • Arrange issuance of guarantees, mainly performance and bid bonds, as required by the business.
  1. Business Treasury
  • Providing advice to the business on investment decisions.
  • Work with the business to assist on tenders whilst ensuring Treasury risks are managed appropriately, especially FX, trapped cash / soft currencies and counterparty credit.
  • To develop and maintain the Group’s approach to Intra-group loans in conjunction with Tax and Legal departments.
  • To provide treasury advice and assistance to Group companies to ensure local entity structures, bank relationships, funding, cash management and transactional foreign exchange hedging procedures are appropriate and effective.

KEY RELATIONSHIPS/ STAKEHOLDERS  

External

  • Banks
  • Rating Agencies
  • Legal advisors
  • Systems providers           

Internal

  • Corporate Tax
  • Corporate Legal
  • CFO
  • Treasury Operations team
  • Business treasury focal points
  • Business Finance Directors

PERSON SPECIFICATION 

  • Key qualification
    • ACT qualified – MCT level.
    • Accounting qualification
  • Key experience - financing:
    • Must have arranged significant external debt including negotiated documentation.
    • Ideally familiarity with issuing public debt e.g. bonds, convertible notes
    • Ideally familiarity in dealing with Rating Agencies
    • Understanding of cross border intra-group debt structures
    • Familiar with performance bond facilities
    • Accounting experience
    • Public company experience
  • Key experience - operations. Must have run an operational treasury role in the past five years.  Areas where experience is expected:
    • Treasury risk management and dealing
    • Cash management
    • Back office processing
    • Treasury accounting
    • Treasury systems and project management
    • Treasury compliance

Subsea 7 are committed to creating a diverse workforce and we look to offer excellent career opportunities as well providing a wide range benefits and a flexible working environment.