Job Description

What\xe2\x80\x99s in it for you? Salary \xc2\xa351,330 - \xc2\xa369,444 based on experience, company car, loan car scheme for family, pension, discretionary annual bonus, healthcare after 6 months, 27 days annual leave + bank holidays + the option to buy 5 more days \xe2\x80\x93 and lots more!

You\xe2\x80\x99ll be based in our Milton Keynes office for a minimum of 1 day per week and we work 35 hours each week

The advert will close on Friday 16th February

You\xe2\x80\x99ll be responsible for leading the team, implementing and developing the company\xe2\x80\x99s successful Structured Finance Programme, ensuring alignment with the secure and diverse strategic funding mix that supports the company\xe2\x80\x99s growth ambitions

Beyond local UK structuring, you\xe2\x80\x99ll support activities for HQ colleagues, with an innovative approach, challenging the status quo to produce optimum Structured Finance structures; commercial benefits from making structural changes in the Asset Backed Securities transactions and, resource efficiencies through improved working practices and procedures

This key management position requires specialist structured finance knowledge and expertise as interactions and negotiations with Ratings Agencies and Investors will be required, whilst managing the organisations\xe2\x80\x99 reputation. You\xe2\x80\x99ll also have an important role to play in implementing change across other teams within the wider Finance Department and beyond \xe2\x80\x93 with Schuldschein issuances, ABS Operations hub, new ABS transactions being established in other Jurisdictions, existing ABS transactions being merged or re-designed and a new reporting tool

You\xe2\x80\x99ll need to be a qualified accountant (ACA / ACCA), have experience in managing and structuring complex high value securitisation programmes, if this is you - we would love to hear from you!

Your main responsibilities include:

• You\xe2\x80\x99ll be accountable, take responsibility and manage all UK activities from inception to closing of all new ABS transactions and renewal of existing transactions which include:

• Review, commentary and improvement of transaction documentation to ensure the transaction is structured in a commercially efficient manner and meets the Company\xe2\x80\x99s liquidity needs
• Verify and be responsible for key calculations on Purchase Price Discount, Losses Modelling, Interest Compensation, Top-ups and Tap-ups, and so on
• Set, monitor and obtain sign-offs on structure limits (triggers) and concentration limits
• Verify the \xe2\x80\x98ABS data packs\xe2\x80\x99 and manage the distribution of the same to Investors, RAs, HQ and other relevant stakeholders. Ensuring reconciliation to source systems and business as well as economic key trends are understood
• Manage and co-ordinate the due-diligence and investor presentations working closely with the Board of Management \xe2\x80\x98(BoM\xe2\x80\x99).
• Resolve all investor and rating agency queries by providing detailed analysis and explanations, through liaising with relevant areas of the business where necessary.
• Set, manage and present the budget and business cases for new transactions and renewals.
• Successfully deliver the banking group agreed upon procedures (AUP) audit with PwC.
• Manage and prioritise the workload of the \xe2\x80\x98Structured Finance Accountant\xe2\x80\x99 and any necessary external ABS Contractors through providing coaching and nurturing a proactive team environment
• Work closely with the ABS Operations team to ensure VWFS UK adheres to all legal requirements governing the production, distribution and publication of the monthly investor reports
• Support the establishment of an ABS Operations hub in the UK, offering help and leadership during its\xe2\x80\x99 set-up and subsequent transitions from foreign markets
• Help establish ABS transactions in foreign markets and play a leading role in the transfer of operational processes to the UK ABS hub
• Identify and implement structuring and process efficiencies
• Monitor and mitigate risks arising from COVID, Semiconductor shortages and Geopolitical issues
• Support the ABS 3.0 Moody\xe2\x80\x99s tool project with subject matter expert insights, advice and updates
• Build effective relationships with the BoM, Head Office, Investors, Ratings Agencies, internal and external Legal counsel, Risk, Collections and IT to ensure best outcomes for all ABS initiatives
• Be an expert in the accounting treatment of the ABS transactions including the P&L, balance sheet and SPV deconsolidation process. As well as ensuring all associated tax, regulatory reporting (BoE & ECB) and audit requirements are met
• Ensure structures meet the simple, transparent and standardised ("STS") standards and are EU and UK Securitisation Regulation compliant
• Have a full understanding of the Treasury processes, requirements and forecasting, and liaise with the Treasury team to assist with the planning of the long term liquidity requirements, Planning Round process and Cost of Money reviews/commentaries
• Work together with the Group Financial Accountant to ensure effective systems and controls are implemented for all ABS processes
• Manage the month-end cost accrual reviews
• Respond to ad hoc requests for information from Germany, internally, Ratings Agencies, Investors and Arrangers
• Ensure all working papers, policies and procedures are maintained and are up to date and that knowledge is shared and succession plans are in place
• You\xe2\x80\x99ll raise awareness of structured finance throughout the business and be an SME for any projects or changes that will impact current or future transaction
• Assist and cooperate with Audit requests to ensure no material, red, repeat or SUMM internal / external audit findings and all audit actions are resolved within initial timelines.

Skills and Experience you\xe2\x80\x99ll have:

• You\xe2\x80\x99ll be a Qualified accountant (ACA, or ACCA), with a good understanding of IFRS and UK GAAP and experience in structuring complex securitisation programmes
• Having experience in Financial Services would be hugely beneficial
• Experienced in portfolio analysis and delivery of reports
• You\xe2\x80\x99ll be able to provide Excel and systems expertise and drive efficiency and control improvements
• You can build strong stakeholder relationships up to director level to secure commitment and support
• Provide clear leadership and direction to encourage both engagement and ownership of tasks
• Maintain a working knowledge of market / credit risks within ABS transactions
• Self-organised, with the ability to anticipate and understand the interdependencies between different functional areas
• A proactive approach with the ability to react appropriately and effectively to changing circumstances and demands.
• Experience of leading, managing and developing a high performing team
• You\xe2\x80\x99re motivated by new challenges and take ownership of tasks with varying degrees of complexity

About Volkswagen Financial Services

Our mission is straight forward, we want to be \'The Key to Mobility\'. What does that mean? To make getting from A-to-B as easy and simple for as many people as possible. To truly meet the mobility needs of people in a changing world, our offering goes beyond traditional vehicle financing. We do this by providing a range of finance and aftersales products on Volkswagen Group vehicles, as well as developing innovative mobility products designed to solve real problems and support our customers.

Volkswagen Financial Services is committed to being an inclusive employer and we welcome applications from everyone. Diversity and Inclusion is not just a statement for us and we are nurturing an environment where everyone can be their 100% self. If there is anything we can do to support you being your 100% self during our recruitment process, please let us know and we will support you as best we can

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Location

Brunswick Court

Brunswick Court, Yeomans Drive, Milton Keynes, England, MK14 5LR

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Volkswagen Financial Services