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The Assistant Treasurer will oversee debt and interest expense management and forecasting, treasury reporting and analysis, foreign currency management including FX trading and hedging, and intercompany funding/tracking/ and intercompany loan management. The Assistant Treasurer will also work closely with the Treasurer to support insurance risk management, sox compliance and testing, business continuity and disaster recovery planning, capital markets projects including support with debt refinancing and share buybacks.
What You'll Do Here:
Oversee the reporting of the company's daily international cash position. Assist Treasurer in reporting of Daily global cash position and monthly tie-outs to reported cash
Fund affiliates via intercompany loans, track loan balances, and coordinate repayments
Develop short-term investment strategies and a policy, identifying acceptable, secure investments in compliance with the company's debt covenants and make short-term investments. Track and monitor short-term investments for foreign affiliates
Initiate short-term borrowing to ensure the company has adequate funds available to meet its operating needs (revolver and swing line if/as needed)
Direct the calculation and timely payment of all interest and principal payments (term loans, bonds, revolver as applicable)
Oversee the calculation and payment of revolver commitment fees, LC fees, agent fees FXall foreign exchange trading fees, Bloomberg fees, and Escrow bank account fees.
Develop and maintain relationships with global bankers
Develop an in-depth knowledge of all debt agreements, including the covenants
Direct the preparation and filing of the quarterly and annual compliance reports
Calculate and Track Excess Cash Flow to ensure any mandatory payments are properly made and we have adequate capacity for share repurchases etc.
Provide support to the accounting team for treasury related items; Report on the fair market value of the company's debt
Work with Tax to cost effectively repatriate earnings and to minimize withholding taxes on interest
Assist with preparation of recapitalization / decapitalization proposals for foreign affiliates
Assist with monthly preparation, review and submission of Calculation and underlying support for Base Borrowing Certificate
Interest Rates/Foreign Exchange
Prepare the annual and five-year plan for interest expense, including the development of interest rate forecasts
Work with Treasurer on interest rate settings for the company's floating rate debt
Ensure we have ability to trade FX forwards, FX Swaps and Interest rate Swaps by ensuring we have ISDAs and adequate available capacity with relationship banks.
Assist in developing strategies to manage interest rate risk (interest rate swaps)
Assist in refinancing the company's credit facility and long-term debt, as well as funding acquisitions
Collaborate with the company's insurance broker to develop the annual renewal strategies
Assist Treasurer in identifying the company's major risk exposures
Evaluate proposals from various insurance carriers and recommend selection based on coverage, exclusions, retention level and costs
Ensure there is a coordinated and consistent approach to insurance worldwide
Assist with Summarizing coverage, cost and loss experience for senior management
Work with business units to minimize potential claims
Establish and document a system of internal controls within Treasury (SOX compliant)
Initiate new and creative approaches to streamline treasury processes, and reduce cost while ensuring adequate controls are in place (think outside of the box)
Draft treasury policies and procedures
Investigate and leverage treasury synergies within other business units/areas to improve processes and reduce cost
Become a business partner; develop a detailed knowledge of the business
Act as mentor and also supervise and guide Treasury staff including overall direction and coordination of the group as well as the evaluation of the back office Treasury staff in Mason, Ohio. Carries out supervisory responsibilities in accordance with Cengage Learning's policies and applicable laws. Assist with interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
Skills You Will Need Here:
Bachelor's degree in Finance, Accounting or Economics (MBA or CPA preferred)
A minimum of 10 years' experience with a focus in global treasury
Proven experience managing, motivating and developing a professional team
In depth treasury knowledge with an emphasis on:
Be proactive, independently initiating action and an agent for change
Excellent communication skills; ability to collaborate, work well with all levels of management and staff and other departments as part of a team
Capital Markets experience preferred
Strong influence and negotiating skills
Demonstrated analytical skills
Able to travel 10-15% of the time
Job Locations US-MA-Boston
Posted Date 2 months ago (2/12/2020 3:36 PM)
Requisition ID 2020-8481
Job Function Finance
Cengage is proud to be an Equal Employment Opportunity and Affirmative Action employer. We do not discriminate based upon race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, veteran status, marital status, parental status, cultural background, organizational level, work styles, tenure and life experiences. Or for any other reason. You may view Cengage's EEO/Affirmative Action Policy signed by CEO Michael Hansen and Equal Employment Opportunity is the Law notice by clicking on their corresponding links.
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