Case Study Profile: Mairi Gemmell

Mairi Gemmell
Treasury Front Office Manager
Scottish Power Limited

What do you?

As Treasury Front Office Manager I am responsible for ensuring all trades are undertaken to close out known group exposures. On a day to day basis this mainly involves foreign currency trading and cash management.

Foreign exchange management includes trading a wide range of currencies to meet business requirements. I speak regularly with contacts throughout the business to identify exposures, such as foreign currency contracts, and provide hedging advice and solutions to ensure compliance with group policies. For example, the exchange rate of a foreign currency contract can be locked in using ‘foreign currency forwards’ to ensure we know exactly how much the payment will cost in sterling terms.

Group cash management involves ensuring there are adequate funds available for group activities. This includes cash flow forecasting and regular discussions with business contacts regarding forthcoming projects. I must ensure maximum returns on any surplus cash funds in short term instruments, including term deposits, commercial paper, certificate of deposit and money market funds.

I am responsible for initiating, developing and maintaining close bank relationships. I work very closely with the banks to enter into deals on a daily basis and develop new treasury ideas that will benefit the group.

How did you get your job?

I chose to study accountancy and finance at university having enjoyed accountancy classes at secondary school. I worked in treasury as part of the company graduate scheme, which led to me applying for a position.

What qualifications do you have?

As my career has developed I have gained qualifications with the Chartered Institute of Management Accountants (CIMA), Association of Corporate Treasurers (ACT) and Institute of Internal Auditors (AII).

Why treasury?

Treasurers make a lot of decisions that are designed to protect the company from risk, but we are also making decisions that can generate cash savings as well. This is very satisfying and interesting.

Advice

The role can be very demanding with tight time constraints. As the market can move so quickly it is important to close out any exposures as soon as they are realised.

It is important to build good relationships both throughout the group and with external parties, therefore good communication skills are vital.

Treasury has proved to be an environment of continual learning and development. A willingness to learn and to keep up with current affairs and market conditions is vital.

Professional exams are demanding, especially when balancing studying with a full time job. The AMCT Diploma in Treasury required a lot of studying. Professional qualifications require time and commitment and can be challenging after a long day in the office, however they are very important in allowing future development and career progression.