Cash Management Associate

Phoenix Group

Flexible working is a core part of our employee offering and it's advertised as standard on all our job adverts, including being open to part-time (e.g. 4 day week @ 80% salary)

Only considering candidates eligible to work in Telford, UK ⚠️

Salary and Benefits: c.£30,000+ (subject to experience) + asset management bonus, excellent pension scheme, private medical insurance, electric vehicle scheme, 38 days holiday incl. Bank Holidays, plus 12x salary life assurance, income protection, 3x volunteering days and much more!

Reporting to: Cash Management Analyst

Job Type:  Permanent

Location: This role will be based in our Telford office, with time spent between home and the office, and some travel between our Phoenix offices. Please also read about Phoenix Flex here

We are pleased to announce an incredible opportunity to join us here at Phoenix Group as a Cash Management Associate join our Asset Management Front Office team.

Who are we?

We want to be the best place that any of our 6,600 colleagues have ever worked.

We’re the UK’s largest long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet.

Team Context

Cash Management is a key support function for the Asset Management Front Office. It has wide ranging accountability ensuring operational control of investment activities, supporting the Group and Asset Management governance framework, and delivery of investment reporting.

This is a great opportunity to work with a key team that team lead activities across the Phoenix custodial and operational account universe for policyholder, shareholder, ERIP and Operational bank accounts. The Cash Management team are responsible for the execution of payments, by Chaps and BACS, and ensuring that there is sufficient liquidity for trades to settle. Providing operational support to our internal Asset Management and Middle Office, while providing oversight of 3rd party Custodial & Investment Management relationships.

The Role

The Cash Management Associate role will play an important part in overseeing and optimising cash management activities within the organisation. The position will involve monitoring cash balances, analysing and reporting on third party managed processes with a view of optimisation, and ensuring discrepancies are managed in an efficient & timely manner. The role will ideally suit someone with a proactive attitude, and a keen eye for detail.

This may also include regular exposure to the following Group activity

  • Daily 'Sweep' of Shareholder cash balances into (Blackrock / ASI) liquidity products.
  • Funding of AM Private Debt transactions
  • Funding of Group dividends
  • Interfund Settlements / NPF Drawdowns
  • Managing shortfalls / surpluses within Treasury accounts
  • Execution of 3rd party payments

Key Responsibilities

  • Supporting Daily Cash Management Operations – Supporting the teams’ daily deliverables, including running Cash Projections, liquidity monitoring and payment / trade processing on custodian systems.
  • Oversee and Optimise Cash Management Activities – Important role in overseeing and optimising cash management activities within the organisation.
  • Daily Reporting of Cash Balances – Including analysing and reporting on third party managed processes with a view of optimisation, and ensuring discrepancies are managed in an efficient & timely manner.
  • Risk and Control – Adhere to all current processes and procedures to ensure the team maintains our high standards within the risk and control space. Calling out any issues in a timely manner. Also supporting the team by being able to recognise and suggest areas of improvement.
  • Support internal and external relationships –
    • Internal – Front Office, Middle Office, Instructions Team, BPA team, Finance and Actuarial, I.T, internal auditors, and Treasury.
    • External – Third party suppliers (Fund Administration, Fund Managers and Custodians).

What we're looking for

Qualifications (desirable but not essential)

  • Degree level education

Experience

  • Experience in Custodian / Investment Operations industry is desirable.
  • Advantageous to have previous cash management experience either within an asset management or life insurance organisation.
  • Experience of operating and improving new or existing processes is desirable.
  • Strong attention to detail and high level of accuracy
  • Knowledge of some or all of the following trade lifecycles, FX, MMD, Bond settlements, Funding experience is desirable.
  • Understanding of how to effectively produce process maps / documentation for review.
  • Experience inputting and processing payments on custodian systems or equivalent.

Personal Attributes

  • Strong communication skills; ability to interact with internal and external stakeholders
  • Ability to follow current processes and controls and understand the risk factors
  • Ability to work autonomously
  • Proactive and adaptive within a constant changing environment.

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.

 If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Find out more about #LifeAtPhoenix

Phoenix Groupthephoenixgroup.com

The UK's largest long-term savings and retirement business.

Working Week

Flexible working is a core part of our employee offering and it's advertised as standard on all our job adverts, including being open to part-time (e.g. 4 day week @ 80% salary)

  • Mon
  • Tue
  • Wed
  • Thu
  • 🏖️
    Fri

Our Vacation Policy

We offer 38 days annual leave including bank holidays, with the option to buy 5 additional days.

  • 38 days PTO
  • 52 unpaid Fridays
  • 90 days off per year

Remote Working Policy

We offer hybrid work with options to work from various UK offices.

Company Benefits

  • Health insurance
  • 401(k) company contribution
  • Transparent Salaries
  • Generous parental leave
  • Dentalcare
  • Equipment allowance
  • Life & Disability Insurance
  • Professional Development Budget
  • Mental Health Support

Our Team

We're a team of 8.2k across 19 departments:

  • business development
    123
  • finance
    105
  • consulting
    76
  • operations
    72
  • human resources
    58
  • engineering
    51
  • information technology
    50
  • accounting
    38
  • media and commmunication
    27
  • data science
    27
  • support
    22
  • +8 more teams

Desirable Skills and Experience

  • Cash management operations
  • Risk and control
  • External relationships
  • Attention to detail
  • Communication skills
  • Process improvement

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