Senior Associate, Treasury Solutions - The London Treasury

Key information

• Contract type: Permanent
• Reference: SATS002
• Reporting to: Deputy Director, Treasury Shared Service
• Direct and indirect reports: None but must be able to manage and mentor staff as required by the Deputy Director.
• Employment Type: permanent

The Employer for this role is The London Treasury

London Treasury’s mission is to help local authorities achieve better outcomes from their investments and treasury management activities. Created as an arm’s length subsidiary by the GLA, it addresses liquidity, treasury, net zero and SME investment challenges faced by its clients. London Treasury is authorised and regulated by the Financial Conduct Authority to facilitate sharing our areas of expertise with the public sector.

Purpose of the role

The Greater London Authority (GLA) operates one of the largest public sector treasury functions in Europe, serving its own needs and those of its strategic partners, in one of the longest standing and most successful shared services within the GLA Group, i.e. the GLA and the Functional Bodies that support the Mayor of London.

The Senior Associate, Treasury Solutions will be leading on providing consultancy and solutions to the shared service participants, creating and maintaining detailed financial models, understanding asset and liability risks and then designing and executing relevant transactions. You will need experience in both advanced financial modelling and understanding complex financial contracts and be an excellent communicator.

Key responsibilities

• Support the Deputy Director, Treasury Shared Service and the Chief Executive Officer in the provision of world‑class, customer‑focused treasury services to the GLA and its partners.
• Identify and explain potential solutions to enable the delivery of capital priorities on or off‑balance sheet, including detailed cost/benefit and risk analysis.
• Be the principal point of financial advice to senior management across the shared service for the development of financing strategies, maintaining an extensive network of market contacts and relationships in order to identify new products, opportunities and risks for consideration.
• Develop and maintain sophisticated asset and liability models for the GLA and other shared service participants in relation to prospective and existing debt portfolios, conducting detailed scenarios and options appraisals and stress testing.
• Develop liability benchmarks and other risk indicators for each shared service participant and, working with treasury team colleagues and finance contacts, provide detailed quantitative and qualitative commentary on variances and trends.
• Support shared service participants in the maintenance of credit ratings including analysing the potential rating impact of new projects or borrowing.
• Act as a strategic business partner to each shared service participant to ensure their annual strategies and subsequent monitoring are useful and relevant, matching their individual requirements while ensuring all relevant regulatory requirements are met; with the support of the Treasury Team, hold responsibility for the production of client treasury reporting.
• Lead the development of new and expand the utilisation of existing treasury software systems and oversee client training and onboarding, in collaboration with the Senior Associate, Treasury Operations Manager.
• Work collegiately with the analytical and modelling professionals across LTL’s service teams to establish common standards of excellence and best practice, identify systems or other synergies, and contribute to the professional development and training of colleagues.
• Lead the execution of financing transactions, including procuring and managing external advisors and ensuring the commercial best interests of the firm and shared service participants are maximised and the risks of any financial instruments are understood.
• Liaise with the Investment team to ensure participants’ holistic treasury requirements are considered when collective investment strategy is formed, and conversely, that the implications of investment risk are considered when conducting stress tests.

Role specific requirements

• High level of financial literacy with the ability to analyse balance sheets and work with discounted cash flows, ideally with practical project finance experience.
• Demonstrable experience of working with complex contracts and understanding applicable legislation and regulation.
• Advanced Excel skills and ideally coding experience and knowledge of stochastic modelling and stress testing techniques in Excel, MATLAB or similar software packages.
• Knowledge of debt capital markets and credit rating methodology.
• Awareness of asset and liability risk management including hedging techniques.

General requirements – Senior Associates

Organisational Leadership

• Leadership & Accountability: Be persuasive and confident, with the ability to represent the organisation at board/committee and senior official level.
• Collaboration: Work effectively with team members, Delivery Group and Executive Committee, external partners and stakeholders. Maintain understanding of overall strategy, proactively seek to support and advance organisational goals.

Stakeholders

• Understands principal stakeholders for the business area and demonstrates value added of LTL’s services/work product within area of responsibility.
• Client Facing: Approach and mindset demonstrate understanding of key client needs and expectations.

Resource Management

• Effectively utilise resources to support overall business objectives.
• Be flexible and manage change. Quickly respond to competing or changing priorities and deadlines.

Risk Assessment

• Takes ownership of and is committed to the risk management strategy for the organisation. Demonstrates a detailed understanding of the risks associated with the business area or operations. Identifies, recommends and implements appropriate controls and mitigations with support from the CRO.

Integrity

• Adheres to LTL’s compliance manual, internal policies and other regulatory requirements, taking accountability for the same across business area.

Technical Competence

• Demonstrates a detailed understanding of the business area alongside knowledge of the wider organisational structure and activities of LTL. Is able to deputise for head of team.
• CPD: Commits to continuous professional development including undertaking training and development as required by the firm from time to time.
• Value added and Proactiveness: Applies judgement and works with significant levels of independence to progress individual and team goals, while seeking guidance when appropriate.
• Solution focused: Is proactive in contributing ideas and finding effective ways to progress work and deliver objectives.
• Demonstrates experience of and willingness to mentor junior colleagues to support their development and contribute to team resilience.
• Supports the head of team as required in leadership of the team.

Internal/External Communication Skills

• Communication: Highly effective written and oral communication style with proved ability to draft board-level reports, complex strategic advice, decision recommendations and internal guidance.
• Presentation Skills: Ability to communicate with clarity, empathy, and effectiveness to internal and external stakeholders. Able to articulate the vision, values, and goals for their business area and the wider company to internal and external stakeholders.

All applicants must have the legal right to work in the UK. The GLA is proud to be a Level 2: Disability Confident employer. We are committed to becoming a more inclusive and accessible organisation, and creating a truly inclusive and accessible workplace and culture for our disabled staff. We have named Disability Equality as a key corporate priority within our EDI Strategy. We welcome and encourage applications from disabled applicants. Should you wish to opt into the scheme, please let us know during your application.