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About the Role
What’s in it for you?
The Treasury Manager will be a key member of the team that manages funds raised through OITS (Octopus Inheritance Tax Service) and will be responsible for workstreams such as cash forecasting, review and analysis of management reports, budgets and forecasts, cash management, and management of bank facilities as set out below. The principal investee company of OITS is currently Fern Trading Limited (‘Fern’), which is a diversified trading group comprising of >300 subsidiaries and valued at c£3.1bn.
By working in a key and central business area the Treasury Manager will have crossover with a wide range of teams and be able to gain exposure to stakeholders from across the business. You will bring strong commercial acumen and the ability to challenge constructively, whilst having variety in your responsibilities.
This role will be a key part of the OITS team, part of the Sustainable Infrastructure team. The OITS team manages c£3.5bn FuM raised through the Octopus Inheritance Tax Service, which is deployed into energy generation assets, fibre, real estate lending, housebuilding and retirement living.
The core OITS team comprises the Head of OITS, the Head of Sustainable Infrastructure, the Head of Banking Relationships and an Investment Director. The role will involve working closely with the Sustainable Infrastructure team and with multiple teams in Octopus Investments, Octopus Energy Generation, and management teams of businesses owned by the OITS investee companies.
What will you be doing?
Cash forecasting for the Fern group: both short-term and long-term, liaising with key deployment teams (Energy, Real Estate Lending, Retirement Living, Fibre, Housebuilding) ensuring that the group always has sufficient liquidity whilst keeping cash drag to a minimum. The Treasury Manager will need to be closely involved and familiar with team activity to manage this and will lead a weekly cashflow forecast update meeting with the rest of the OITS team.
Cash allocations: have a detailed overview of short-term and long-term cash requirements across all deployment teams and will manage the allocation of cash to various teams, in conjunction with the OITS finance team.
Cash management: take responsibility for monitoring cash around the group, reporting on trapped cash and making sure all cash is upstreamed efficiently. Work with the OITS finance team and CoSec to ensure cash is moved to where it can most efficiently be used, within banking and business relief constraints. Support teams in opening bank accounts, as required, and maintain and develop good working relationships with key banking counterparties, in conjunction with the Octopus Group Treasury Manager and the Head of Banking Relationships.
Banking facilities: support the Head of Banking Relationships to manage the debt facilities throughout the group.
Group working capital facility: forecast financial covenants in context of forecast portfolio movements, help prepare and review covenant reporting, and recommend utilisation levels.
Interest: Optimise interest earned and minimise interest paid across the group.
FX: work with OITS Finance to ensure the best rates are obtained for any FX transactions and that appropriate lines and ISDAs are in place.
Reporting: Contribute to preparation of funding budgets, ensuring data is consistent with IC approvals, short and long-term cash flow forecasting. Review, analyse and challenge budgets, forecasts, management accounts and audited accounts produced by the OITS Finance team and other teams.
Ideally, you’ll have:
✅ Qualified Accountant (ACA/ACCA or equivalent), professionally qualified ACT, or qualified by experience
✅ Treasury or financial services experience desirable but not essential
✅ Excellent communication skills, ability to work with teams from across the business, and able to deal confidently with the board and external counterparties such as banks
✅ Has a mindset of continuously looking to challenge the status quo and seek improvements
✅ A strong customer and commercial focus, someone who considers the performance of OITS as a key part of their role
We encourage you to apply even if you don’t tick every box. What’s the worst that can happen?
This role will evolve as we grow and develop. So, if you are looking for a challenge in a fast paced and dynamic business, we can deliver on that.
What we offer
💰 A competitive salary, bonus, pension and share incentive plan
✈️ Untracked holiday
🏡 Hybrid working – our people spend 3 days a week in the office
⚓ Anchor (our wellness hub) which includes Headspace, one to one coaching through Wellness Cloud, Digital GP, Shout & more
👪 Up to 6 months paid parental leave regardless of gender
❤️ Life insurance, critical illness cover and income protection
🏥 Private medical insurance for you and your family
🚗 Electric vehicle leasing
🌍 The option to work overseas up to a month per year
At our core, we believe that how a company behaves is just as important as what it does. That’s why we chose to become an accredited B Corp (the equivalent of a Fairtrade coffee stamp but for companies) and to change our Articles of Association so that the interests all our stakeholders – employees, customers, communities, environment and shareholders – are considered in every decision we make.
We’re committed to creating a diverse and inclusive employee experience for all. We promote equal opportunities for growth and development regardless of race, gender, religion, sexual orientation, age, disability, or socio-economic background. We believe strongly that teams are at their best when every member of the team feels safe to bring their whole self to work.