ASSISTANT TREASURER / DIRECTOR of FINANCIAL PLANNING & ANALYSIS
Oversaw treasury, finance, risk management, and financial planning for newly created, centralized $1.2B private equity school affinity and special marketing company. Liaised with private equity / debt holders and managed external financial relationships. Communicated with CEO on financial results, projections, and strategy recommendations. Developed and implemented policies / practices associated with departmental functions such as cash management, risk management, and reporting. Served as key member on M&A Team. Managed pension and 401(k) asset managers. Selected achievements:
- Drove treasury centralization effort to achieve optimal cash management structure, minimization of idle cash, standardized operations, and elimination of transactional inefficiencies; generated $4M in annual savings.
- Introduced working capital programs leading to year-over-year improvements of $36M.
- Evaluated insurance policies and initiated rebidding process to ensure maximum coverage against risk; enhanced coverage levels and saved company $500K in first year and $700K in second year.
- Led Sarbanes-Oxley initiative; established policies and procedures for Treasury, Accounts Receivable, and Accounts Payable functions.
- Co-led team responsible for securing $350M in financing in 30 days to fund shareholder dividend.
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Present Responsible for all capital markets activity including debt management (senior, subordinated, hybrid and commercial paper programs) and cash and liquidity management. Co-chair of the Foreign Exchange Committee and member of the Derivatives Committee and the Liquidity Risk Committee. Lead a team of 7 professionals.
- Lead AIG road shows for fixed income investors in the US, Europe and Asia. Successfully raised $20 billion during the 2008 crisis.
- Execute all parent company foreign exchange transactions via forward, swap and option vehicles. Manage positions in as many as 20 different currencies around the globe.
- As Chief Portfolio Manager, successfully managed the AAAm-rated AIG Money Market Fund. Achieved top-tier fund performance for approximately 10 years.
- Launched AIG's direct commercial paper program. Successfully managed short-term assets and liabilities.
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- Formulated the $76,000.000 fraternity budget in a specialized team
- Tracked member payments using Microsoft Excel spreadsheets
- Prepared and presented monthly analyses of spending to provide a high level of transparency
- Conducted meetings much like a corporation
- Created and designed presentations regularly for budget proposals
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Assistant Vice President and Assistant Treasurer
Report directly to CFO. Maintain primary responsibility for treasury operations, with oversight of all financial operations. JHM, a subsidiary of John Hancock, is an "off Wall Street" investment boutique that manages over $2 billion of mortgage-backed securities and operates full-scale mortgage banking and servicing operations, including a publicly-traded MLP. Promotions from Corporate Accounting Manager and Treasury Manager.
- Primarily responsible for investment portfolio financing, dealing daily with major Wall Street firms.
- Assist in analysis, pricing, negotiation, due diligence, financing and integration of acquisitions.
- Gained $110MM under management by developing a relationship with our 401K provider.
- Developed comprehensive five-year financial projections, successfully used to obtain over $120MM in short and long-term financing from a syndicate of lenders.
- Developed SOP and internal control and reporting environments for two new business units.
- Developed complex present value techniques to value investments in bonds and mortgage securities and hedging instruments, including interest rate derivatives.
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- Issued debt, including $300MM Senior Notes, by evaluating financing options to provide liquidity for future growth during declining box office revenues. Created road show materials, leveraging relationships for best proposals with banks, presented to various investors and ratings agencies.
- Leveraged syndicate relationships with banks, securing $185MM campus sale and leaseback, attaining needed liquidity for subsequent acquisition activity.
- Managed corporate liquidity by preemptively amending and extending revolving line of credit, increasing capacity by $50MM, adding new member to syndicate, and improving borrowing covenant structure.
- Prepared analysis, financial forecasts and meeting presentations including follow up and Q&A sessions, developing relationships with Moody’s, S&P, and Fitch agencies, obtaining initial ratings from each agency.
- Created debt covenant compliance model that measured quarterly cash flow calculations accurately and projected ability to invest or use cash, restricting and / or restructuring certain investments to maintain compliance within covenant parameters.
- Developed new global cash forecasting process for US and foreign entities, adding cash visibility to Senior Management, reducing interest expense through tighter management of line of credit and improving repatriation of foreign cash.
- Renewed $1B combined insurance program with savings of over $500K (10% decrease YoY) through effective pricing negotiation, leveraging relationship skills and knowledge to manage brokers and layers in insurance towers.
- Launched comprehensive corporate credit card program, enabling single essential provider, combining spend rebate qualification, and newly mapped GL process to automate account reconciliation.
- Created Foreign Exchange risk management program, establishing LEI and GMEI utility and trading lines with counter party banks. Recommended hedging program using forwards, participating forwards, and options to hedge currency risk, including GBP, Euro, AUD, RMB and other currencies.
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- Responsible for all Treasury activities, including capital markets, bond issuance, global credit facilities negotiation, covenant amendment and compliance, stock repurchases, management of interest rate and currency exposure, and bank relations
- Established tax efficient repatriation of funds, which included setting up a global multi-currency notional cash pool, and streamlining inter-company lending
- Implemented a global treasury management system, providing real time visibility of global cash holdings, cash pool position and debt, as well as managing hedging and exposure program
- Instituted cash and debt forecasting, balance sheet planning, financially rigorous calculation of hurdle rates and consistent modeling for rating agencies
- Supported due diligence for M&A transactions and funded acquisitions using tax efficient structures and leveraging multiple financing sources
- Coordinated working capital management activities with all divisions and regions
- Partnered with global business units to negotiate long term agreements with customers and suppliers, to design fixed pricing programs for customers, as well as to set up working capital improvement initiatives.
- Published treasury policies providing guidance on cash investments, bank relationships, inter- company transactions, customer and vendor's financial exposures and external debt
- Member of ERISA plans committees; responsible for performance oversight and reporting as well as developing liability management strategies
- Led company's flight department
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- Strategically consolidate and reposition $100M+ of intercompany transactions to maximize efficiencies and support CCL Industries' Canadian tax optimization
- Monitor $140M+ of global cash flow with respect to working capital and financial investor management
- Lead syndication and successfully negotiated new $200M+ Credit facility to successfully refinance unfavorable bank and bond debt
- Leverage network with various leading domestic and international banks to optimize bank relationships
- Deftly navigated company through intense financial and reporting requirements while banks and bond-holders considered company a special asset to avoid default
- Lead Executive Management quarterly review of liquidity, debt, counterparty, foreign exchange, insurance and other business risk management objectives
- Executed consolidation of bank accounts to three partner banks in Europe/Latin America, North America, and Asia Pacific regions to enhance cash visibility, audit controls and streamline reporting visibility.
- Project managed transition of Corporate Travel and Purchasing Card Program to new bank - negotiated rebates, fees, automation of expense reporting to support future global implementation
- Executed process controls to manage foreign exchange exposure in volatile emerging markets
- Directly supervise Treasury Manager and Treasury Analyst and small team of indirect supporting roles
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Director of Finance & Administration / Assistant Treasurer
- Responsible for a 41 million portfolio in diversified investments. Manage the day-to-day financial and Administrative operation of the organization. This includes Human Resources and IT.
- Supervise the A/P, A/R, IT, and G/L functions. Heavy Fixed Assets and Rent Analysis.
- Financial Statement preparation for Executive Director and Board of Directors.
- Responsible for all Year End 990 Tax Return process, A133 compliance, Cash Flow and Banking, reconciliations, schedules and analyses for External Auditor.
- Payroll Process and Heavy Journal Entries.
- Responsible for Yearly Budget and Strategic Planning process.
- Responsible for wire transfers, monthly & year end closing of accounting system. Work closely with Treasurer, Finance and Investment Committee.
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- Assist in managing liquidity and interest rate exposures related to New York Branch's ALM operations including money market trading related to interbank / customer deposits for funding purposes. Ensure to meet current and future financial obligations in a timely and cost-effective manner by borrow and place funds in accordance with ALM requirements.
- Coordinate cash forecasting process by working with internal department to develop cash forecasting and analysis process to ensure optimization of investable funds and availability of required cash resources to meet daily needs.
- Collaborate with other internal divisions and departments to coordinate functions and share financial information. Effective communication with other divisions and functions is essential to achieve goal to utilize cash as efficiently as possible.
- Manage relationships with external vendors, including but not limited to banks and other financial institutions. Actively support new funding source development in the areas of new counterparty and new products, to make the most effective use of financial assets while minimizing risk and expense.
- Establishment of new client relationships and account opening by gathering all required KYC documents and information obtained in accordance with the CIP.
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- Compile annual financial statements to be presented to the Board of Directors.
- Review bookkeeper's monthly journal entries.
- Prepare annual budgets and forecasts to assist with financial planning.
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