Treasury Manager
Posted 25 Sep 2026
Advertised as “Manager - Treasury, Capital Markets / Front Office ”
BranchFactor Summary
The original posting with the fluff stripped out
- Expected experience
- 3–6 yrs
- Management level
- Individual contributor
- Employment
- Hybrid
- Contract
- Full-time
No salary listed for this role.
CertificationsFRM, BTRM
The role
OakNorth runs an £8bn balance sheet with a small, senior Treasury team. Reporting to the Head of Treasury, you will own the execution of the bank's derivatives and FX activity and its investment portfolio, the sizing of its FX funding and liquidity positions, and support for capital and wholesale funding issuance — building the analytics behind those decisions. Treasury here is run as a measurable profit contributor rather than a cost centre, and the decisions taken on this desk are a material part of that.
This is a hands-on execution role rather than an oversight one. You will be pricing, trading, sizing and building the analysis behind your own recommendations, and presenting that work in senior forums including ALCO and to the CFO.
The role is deliberately front-office weighted, but the team is small and the remit is broad. There is genuine scope to build depth in the wider Treasury agenda — funds transfer pricing, liquidity and interest rate risk frameworks, and Board and regulatory work — for someone who wants it.
Principal responsibilities
Derivatives and FX
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Execute interest rate swaps, cross-currency swaps and FX forwards across the bank's hedging programme. This is the most frequent trading activity on the desk and the centre of the role
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Price, negotiate and execute with dealers across the counterparty panel, and evidence best execution
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Own the FX risk position — including the USD lending book and intragroup exposures — and produce the exposure and hedging analysis that supports ALCO and Board reporting
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Monitor collateral and margin flows under CSA arrangements, including the liquidity consequences of adverse mark-to-market moves. Supports expansion and onboarding with additional counterparts
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Work with Finance on hedge designation and supporting documentation
Investment portfolio
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Execute the gilt and HQLA investment programme against Board-approved mandates, using asset-swap spread and relative-value analysis to inform selection
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Maintain and extend the portfolio construction tooling, including duration, maturity-ladder and concentration constraints
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Size and roll the Treasury bill programme against deposit deployment windows
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Support oversight of the externally managed AAA CLO portfolio, including trend and spread analytics and preparation for quarterly manager review