Senior Treasury Manager - Front Office

Senior Treasury Manager - Front Office

Job Location:

G
-London-BTHQ One Braham

Advertised Salary:
Competitive + Excellent Benefits

The BT Group Treasury team is part of the Group Corporate Finance function, which is part of the Finance and Business Services (FBS) unit led by the BT Group CFO.

The overarching objective of the Group Treasury team is to develop, execute and manage BT Group’s funding & liquidity strategies, policies, plans and risks. Group Treasury manages a ~£18bn debt portfolio, with associated cash interest cost of ~800m p.a., cash investments of ~£1.8bn, and FX risk management across the Group. We are highly skilled trusted business partners, ensuring efficient use of trade finance facilities to support BT’s working capital and the appropriate use of structured finance to support business propositions.

We support the delivery of cash flow targets through accurate short‑term cash flow forecasting, and ensure cash is managed effectively and payments made promptly with the appropriate controls.

This is a key role for BT Group Treasury, responsible for driving our forecast of funding requirements and cash interest, modelling BT’s credit rating metrics, and the efficient execution of derivatives to hedge financial risks.

• Develop the Group’s overall interest budget (~£800 million p.a.), monitoring delivery, identifying risks and opportunities, and providing clear insight to support senior management decision making.
• Develop and maintain the Group’s medium‑term funding plans, working closely with colleagues in Group FP&A, assessing the impact of funding decisions on interest cost, liquidity, and financial risk.
• Act as the Group expert on credit rating agency methodology and calculations, including the review of accuracy, correctness, and appropriateness of facts and opinions in credit rating reports.
• Structure and execute derivatives to hedge risk on debt capital market issuance and interest rate risk management, focusing on optimising pricing and execution.
• Develop and manage BT’s derivative management financial models, including the use of TMS and Bloomberg.
• Negotiate ISDA and CSA documentation with the support of BT’s legal team.
• Support Front Office colleagues in executing FX and cash investments, as well as managing operational processes such as collateral calls.
• Support Front Office colleagues in optimising FX risk management and execution.
• Identify front office process improvements, including the application of AI systems, and support their delivery.
• Own the semi-annual update of the Group’s sanctions compliance questionnaire, working closely with the Trade Compliance team.
• Collaborate with back office to ensure appropriate hedge documentation is in place for front office trades.
• Support the update of the Group WACC.
• Build strong relationships with internal stakeholders and external banking partners to support Treasury objectives.

• 5+ years experience within a Treasury Front Office environment, ideally within a FTSE 100 or similarly complex organisation.
• Proven experience executing interest rate derivatives, including interest rate swaps and cross‑currency swaps.
• Strong experience managing and influencing senior internal and external stakeholders.
• Professional qualification such as ACT, ACA, ACCA or CIMA.

• Strong attention to detail to produce accurate management reports, and practical experience in executing cross‑currency swaps and interest rate swaps.
• Knowledge of credit rating agency methodology.
• Knowledge of Bloomberg and Treasury Management Systems.
• Collaboration within Front Office, as well as Middle and Back Office teams.

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