Manager Structured Finance

LIBERTY GLOBAL PLC ,
London, Greater London
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Job Description

Job Purpose The Structured Finance team at Liberty Global is mandated with identifying, evaluating and implementing structures that optimise Liberty's underlying business operations to enhance shareholder value and minimise financial risk. The team focuses on 3 key areas: Supply Chain Financing (internally known as Vendor Finance), Asset Backed Finance and Procurement support. Supply Chain Finance/ Vendor Financing (VF) - The Vendor Financing program is the largest initiative in the team remit with $4bn financings in 2019, generating a significant impact on group Free Cash Flow and capital structure. The Structured Finance team is responsible for managing and expanding this program across new markets, suppliers and lines of financing. This involves regular interaction with lending banks, suppliers and internal stakeholders (e.g. treasury, legal, etc). The VF concept relies on banks intermediating increase of payment terms with suppliers to up to 360 days. The process revolves around automatic bank platforms, where supplier invoices are uploaded and transacted, ensuring early collection by supplier and payment at final maturity by Liberty Global. Four such platforms, established with 3 lead banks, are in use across the Liberty European footprint. Circa 350 strategic suppliers are enrolled and 25 banks are currently providing capital. The VF Program is of strategic importance for Liberty Global and is expected to remain such in the coming years. Asset Backed (Structured) Finance - Liberty Global seeks to improve its cost of debt by diversifying away from the high yield market into the investment grade domain. This can be achieved by multiple structures including customer receivables and handset loans securitisation. The Structured Finance team is in charge of identifying such opportunities, developing the required structures and launching the financing deals. Procurement Support - One of the key internal stakeholders for Structured Finance is the Procurement organization. The Structured Finance team is the key point of contact for the financial aspects of contractual negotiations with suppliers. Areas of focus include Currency, Warranties, Vendor Risk, CPI Indexations and Vendor Finance. The team leads coordination between stakeholders - Treasury, Legal, Accounting, etc. with the aim of achieving best terms possible for Liberty Global. The Manager will be instrumental in the Vendor Finance and Asset Backed Finance efforts and as well will support management in providing adequate support and guidance to the Procurement Organization and the rest of the Business. Key Accountabilities Vendor Financing ($4bn program): * Manage supplier onboarding processes and coordinate Procurement, Programming, Legal, Accounting, Accounts Payable & Control teams as well as fronting bank teams as necessary * Act as key point of contact for VF stakeholders including banks, other external funding partners and internal teams (treasury, legal, etc) * Ensure appropriate tracking and forecasting of VF activity * Support the VF Director in various other VF initiatives - setting up of new platforms / structures, raising of capital, collecting and providing KYC information to funders, structural VF enhancements, etc * End-to-end daily responsibility for various VF programs Structured Finance - Securitization ($1bn program): * Support launch of new securitization deals (trade receivables) and lead various aspects of the deal * Support extension and/or changes of existing ones (handsets) and lead various aspects of the deal * Take responsibility of monitoring of current deals and maintain regular contact with banks providing the financing and internal teams tasked with the daily operations Procurement Support: * Support Director in analyzing various procurement contract financial clauses and proposals (e.g. early payment vs a discount) and provide guidance to involved stake holders (e.g. buyers or ultimate internal beneficiary) New Business Initiatives: * Support investigation, structuring and launch of an enhanced Vendor Financing program with a significantly higher involvement of Liberty Global - either involving a new LG company that will take over some of the front bank responsibilities or via a JV/3rd party provider in which LG has a significant stake * Participate in investigation and potential set-up of LG participation in junior tranche for off BS securitization(s) Knowledge & Experience Preferred education/ qualifications: * University degree * Qualified CIMA/ACA/CFA/CMA Knowledge & Experience: * Strong experience in Corporate Finance, Transactional Banking, Finance Analysis or Control * Very Strong MS Excel & Power-Point skills (HFM a plus) * Structured finance or Supply Chain Finance prior experience constitutes a plus Skills & Abilities: * Attention to detail and advanced analytical skills * Pro-active, ambitious and highly motivated * Ability to work independently and under pressure * Thorough and well organized * Good stakehol

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