Job detail | Ooredoo corporate

VAC8553 - Senior Manager – Liquidity, Foreign Exchange, and Interest Rate Risk Management

  • Field: Finance
  • Contract type: Full Time - Permanent
  • Location: Qatar - Doha
  • Closing date: 2022-01-10 12:00:00

Job role:

Background

To lead the Group liquidity, FX and Interest rate  risk management function and thereby to act as the expert on financial risk management matters to support the Group Treasury function in managing major financial risks which includes liquidity, foreign exchange and interest rate risks management matters at Ooredoo Group level and subsidiary companies.

The importance of the position is evident from the fact that FX risk is one of the top 3 risks in ERM register and most Ooredoo OPCOs are located in very challenging market and regulatory conditions (Emerging markets/frontier markets. 
Formulation, adoption and execution of appropriate foreign exchange and interest risk management strategies in line with Group treasury guideline.

Comprehensive operational oversight, optimisation, management of liquidity and managing of foreign exchange and interest rate risk for Ooredoo Q.P.S.C. 

It is crucial for the financial risk management and profitability of Ooredoo Group and its subsidiaries and adds significant value by using financial synergies and leveraging bank relationships.
Failure to manage this area would mean the Group companies may not have funds available to meet its obligations or borrowings at preferential rates and future investment/M&A opportunities may not be optimised; potential credit ratings implications.
Plays a very critical role together with the Group Treasurer to optimize financing risks in terms of liquidity, FX and Interest rates as well as structuring of Ooredoo and its subsidiaries.

Role Profile

Foreign Exchange and Interest Rate Risk Management:

  • Leads the process to propose the risk management strategies in respect of liquidity, FX and Interest rates risks at Group level as well as OPCOs during the annual planning cycle.
  • In AOP finance strategies, propose strategic hedge ratios for FX and Interest rate exposures; implement and monitor Board approved strategies throughout the year.    
  • As Chief Dealer, full responsibility to implement approved risk management strategies by executing all treasury deals executed. Special authorization is granted by GCEO/GCFO to commit the company to deal terms with the banks.
  • Leads the management of financial risks (both foreign exchange and interest rate) of Ooredoo Group by formulating and proposing hedging strategies to GCEO/ Executive Committee/Board. Act as the ultimate Group expert for all financial risk management activities.
  • Analyze the impact of exposures and recommend to mitigate and manage the risks.
  • Lead the process of tactical and accurate execution of foreign exchange (spot, forwards, options and swaps) and interest rate derivatives (floating to fixed, basis swaps etc.) including pre-selection of banks, negotiation of terms etc.
  • Significant contribution to the Company by negotiating and structuring treasury deals. Size of instruments and deal can range up to billions of QAR.
  • Advice and support to Ooredoo Group companies in analyzing risk exposures, evaluating bank proposals and executing derivatives for hedging purposes.
  • Review and negotiate legal documents ISDA etc.) for Ooredoo Group Companies in liaison with Ooredoo Group Legal, in conjunction with their respective treasury and legal teams
  • Analyze the overall macroeconomic environments, forecast the Interest and foreign exchange rates for all the OPCOs and review them on quarterly basis to determine the optimal risk management strategy.
  • Analyses the expected foreign exchange gain/loss across all the OPCOs on quarterly basis and report to GCFO.
  • Analyses on FX risks, impact analysis, mitigation strategies and market update for the Group Companies to Update AC/EC/Board

     

    Liquidity  Management:

    Lead the process of  consolidating  12 month rolling cash flow forecasting to ensure proper liquidity management

  • Build independently detailed and complex cash flow models for AOP submission and determine the  the  deposit Income and finance cost budget (net finance cost – which is a major KPI for GCFO/Treasury)
  • Create financial models with multiple parameters to conduct stress tests on forecasted liquidity positions.
  • Lead independently the cash flow planning and optimize the daily cash position in QAR and other currencies. Lead the process and propose liquidity management strategies to the GCFO/Head of Treasury for approval.
  • Negotiating best terms with relationship banks to place the funds according to the approved strategy to optimize the investments returns. Advise  OPCOs to ensure liquidity is optimized and assist in  cash optimization strategies
  • Manage all process in terms of liquidity target levels and budgets in respect of Annual Operating plan (AOP) and funding plan for Ooredoo Group.
  • Negotiate independently financial terms of Letter of Credits and Letter of Guarantees with Suppliers and Banks. Obtaining best possible pricing for non-funded facilities with banks to optimize the cost.
  • Independently manage the RCF portfolio in excess of USD 2bn to optimize the funding cost and FX risk position by conducting thorough analysis of financial markets and recommend drawing liquidity lines (RCFs) on 1/3/6m interest rate tenor based on interest rate expectations and cost/benefit analysis

     

    Policies and Procedures:

    Lead the process of developing and updating the Group Treasury policies and procedures in respect of liquidity, FX and Interest rate related matters as required in liaison with Middle/Back Office.

  • Formulate and implement policies and processes for managing the counterparty risk of Ooredoo Group in liaison with Middle Office
  • Support  the implementation of Group Treasury policy and best practises in Ooredoo Group
  • Support regular Treasury accounting to ensure compliance with IFRS and any other relevant accounting standards;

     

    Other regular assignments and Special Projects

  • Ensure, submission of quarterly compliance certificates to all the lenders and engage with them to address any query with regards to covenant calculation etc.
  • Actively advising procurement function on foreign exchange related matters and conduct the detailed analysis on the currency mix to be negotiated with the vendors for all the OPCOs
  • Participate as team member of transformational transactions (Merger & Acquisition, IPO, Rights Issue, DCM etc.) in respect of risk management by giving expert advice in terms of risk and liquidity management.
  • Advise project management team of strategic projects e.g. Tower deals etc. on liquidity and FX matters
  • Support the preparation for the annual credit rating agencies meetings and actively participate and present the Group Treasury matters especially related to financial risk and strategic liquidity levels.
  • Review and update quarterly analyst deck for analyst call
  • Carry out quarterly detailed analysis of cash and debts position at Group and OPCOs level and submit the report to GCFO and AC. 
  • Advise the Ooredoo Qatar Mobile money team to meet their requirement related to the banking system 
  • Management and entry of all deals in Oracle ERP and other soft/hard records
  • Lead and execute special project tasks assigned by Head of Group Treasury including system implementations such as SWIFT, Oracle Treasury, Treasury Management Systems, Bloomberg, Financial Investment sale/purchase etc.

Experience

Minimum Experience & Essential Knowledge

  • Must have minimum of 8-12 years’ experience within a Treasury Function preferably in multinational Company or international Bank; at least 3 of which should be in a middle managerial role.
  • Must have demonstrable knowledge and experience in dealing (front office), financial risk management and derivatives documentation.
  • Sound in depth understanding of financial markets, banking products and services
  • Fluent in English (both written and verbal)
  • Experience in MENA preferred
 

 

 

Qualifications

Minimum Qualifications

  • Minimum Bachelor’s Degree in Finance, Master’ preferred
  • Preferably certified by a relevant professional body (e.g., CA, AMCT, CFA etc) 

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