VEON is a Nasdaq-listed global digital operator that serves nearly 160m customers with connectivity a total base of 110 million monthly active users with digital services in some of the world’s most exciting frontier markets. Operating across six countries that are home to nearly 520 million people, in other words more than 7% of the world’s population, VEON transforms lives through technology-driven services that empower individuals and drive economic growth. With VEON’s Digital Operator 1440 vision and strategy, VEON Group companies redefine the engagement that telecom operators have with their customers, providing the best digital experience to customers up to 1440 minutes in a day. We transform not only the daily experience of the final users, but also support the growth of enterprises and industries as a whole by using cutting-edge technologies in AI, big-data and cloud services to serve our business customers . This is all underpinned by a commitment to sustainability, ensuring VEON’s operations are run safely and ethically while fostering digital entrepreneurship and greater digital skills and literacy in the communities in which VEON operates. VEON’s values-based approach works to strengthen trust by building a responsible and sustainable business that benefits customers, employees, communities, and shareholders. VEON’s international leadership team is drawn from experienced executives from around the world and has been led by CEO Kaan Terzioğlu since July 2021.
Position Summary
VEON Group Treasury (HQ) is centralized for global transactions supporting Group Treasury strategy and operationally supported by local OpCo Treasury teams at the country level performing local domestic treasury operations under Group Treasury Policy. The HQ team manages the transactional operations supporting the significant levels of debt and cash at both VEON HQ and its subsidiaries. The HQ treasury function is critical to manage sufficient liquidity, debt facilities and investments and risk management strategies related to all financial activities supporting the achievement of VEON business objectives. Group Treasury comprises of two departments: Treasury Operations. This department provides the transactional operations support for the significant levels of debt at both VEON HQ and its subsidiaries. It manages liquidity, operational activities for debt facilities and investments and creates and executes defined risk management strategies related to all financial activities supporting the achievement Veon business objectives Corporate Finance: This department is responsible for developing and securing a (cost) efficient capital structure for VEON from a Group, HQ and Operating Subsidiary perspective. Its activities include amongst others: identifying need for and negotiating new loan facilities at Group and OpCo level, (debt) capital market issuances, credit investor communications, bank relationship management, credit rating agencies management and technical support on M&A transactions and on intercompany restructurings
The (Senior) Manager Corporate Finance plays an essential role in supporting VEON maintaining sufficient liquidity, amongst other things by securing new loans and issuance of bonds to refinance maturing debt and to obtain necessary new funding to allow VEON and it operations to invest in the network and future businesses as well as for transactional / M&A support.
The (Senior) Manager Corporate Finance will support the Director Corporate Finance and Group Director Treasury in the creation of internal presentations to and strategy documents for the Group Executive Management, the Board and relevant subcommittees of the Board.
The (Senior) Manager Corporate Finance is further instrumental in supporting both the VEON Corporate Finance function and the Investor Relations team in the communications to the market when it comes to credit related matters, credit investors and credit rating agencies.
The (Senior) Manager Corporate Finance also provides support in the forecasting process by identifying possible funding needs and together with the Director Corporate Finance and the Group Director Treasury and in coordination with the Group CFO developing short terms, medium term and long term funding strategies both for HQ and Operating Subsidiary level financings to support capital structure objectives
Key Responsibilities:
- Bank relationship management:
- Actively supporting and participating in bank relationship management activities from a bank loan funding and credit perspective
- Actively supporting and participating in discussions with Debt Capital Market teams of banking partners understanding new developments and key themes on the debt capital markets
- Identification of new funding opportunities and funding partners
- Together with Director Corporate Finance, Director Treasury Operations and Group Treasury Director analysing and strategizing wallet share and strategy toward funding / banking partners
- Credit rating agencies management
- Participate in the process for obtaining a new credit rating
- Maintain active dialogues with credit rating agencies on a quarterly and pro-actively on an ad hoc basis upon occurrence of material (credit) developments and transactions
- Prepare annual review meetings
- Review and comment on draft releases by credit rating agencies
- Actively explain the capital structure strategy and spot inconsistencies in credit ratings to secure an appropriate rating for VEON
- Credit investor management:
- Support Investor Relations team in their communications to investors from a credit perspective by reviewing the debt and liquidity related slides and sections in quarterly reports and other investor presentations
- Actively participate in credit investor meetings, credit conferences as well as in non-deal and deal related credit road shows
- Support investor relations team and Director Corporate Finance in answering credit and capital structure related questions from investors
- Debt capital markets transactions:
- Actively participate in discussions with banking partners on debt capital market opportunities and developments
- Co-develop together with the Group Treasury Director capital markets strategy and advise to Group CFO and VEON Board
- Negotiate transaction documents and bond indentures
- Prepare investor presentation and engage in investor meetings
- Coordinate with internal teams, legal, external reporting and investor relations on various aspects of the transaction
- Bank loan negotiations
- Drive negotiations with banks for new banks loans both at HQ and Operating subsidiary levels
- Review and negotiate the actual loan agreement at HQ
- Review and coordinate loan agreement at operating subsidiaries, ensuring operating subsidiary loans are in conformity with VEON HQ loan documentation standards
- Liaise with other functions to obtain relevant input (tax, external reporting)
- Support operating companies in understanding and analyzing local loan agreements
- Reporting
- Oversight and approval of all Corporate Finance related treasury reporting
- One of the Global Corporate Finance subject matter experts
- Perform ad-hoc analysis of financial and non-financial data on request
- Develop and provide updates on projects
- Manage standardization and continuous processes and reporting improvements
- Projects
- Contribute to optimization of internal capital structures within the Group together with the Treasury Operations team in light of external funding strategies
- Provide technical and other support mergers and acquisitions and other projects of Corporate Finance on equity and debt transactions. This support could involve financial analysis, due diligence, and coordination with various stakeholders during these projects.
- Recommend, implement and maintain process improvements. This includes identifying areas for enhancement, proposing changes, and ensuring the implementation and sustainability of these improvements.
Critical Skills & Experience
- Master degree in Economics and/or Finance
- Understanding of / background in accounting that can support in forecasting balance sheets, cash flow statement and income statement impacts and interaction between those statements
- 5-10 years of relevant working experience in the field of finance / treasury, preferably within an international business environment
- Strong desire to apply your quantitative and analytical skills in developing a solid understanding of financial market data and analytics
- Advanced user of MS Excel, Power point is required
- Ability to translate experience and analytic skills to solve business challenges
- Autonomous with proactive attitude and strong team spirit
- Excellent written and verbal communication skills in English
- Effective communication and coordination with various stakeholders, including internal teams and external financial partners
Do you want to be part of a team that serves over 160 million customers across 6 dynamic markets? Do you want to pioneer new experiences for hundreds of millions in emerging economies? Do you feel at home working in a truly diverse and inclusive environment? We are VEON, a global digital operator and we scale new heights never thought possible. Our DE&I Vision is: Creating an Inclusive World for All – Inside and Beyond VEON We aspire to create an Inclusive world for all by providing Equal voice and representation, driving growth with diverse and inclusive teams, that create products that serve Diverse needs of our customers across all dimensions of life from connectivity to digital financial inclusion, education, health and entertainment, and creating value for our people, our partners, and communities.