Director- Treasury Operations

Summary:

The Director of Treasury Operations will assist in leading all aspects of the operations of the Treasury Department. This includes but is not limited to oversight of Foreign and Domestic Cash Management, Currency, Commodity and Interest Rate Risk Management, treasury support for all M&A initiatives, Liquidity Risk Management, Treasury Systems, Treasury Controls, Capital allocation, as well as managing banking and rating agency relationships. Our ideal candidate should not only have experience in this space but with the following materiality thresholds: global revenue of $20B to $40B, long term public debt between $20B to $40B, revolving credit facility between $5B to $10B, commercial paper program of $1B to $2B, operating in 40 countries and managing 20 currencies with both manufacturing and distribution, as well as geographic earnings dispersion of 50 / 50 (US and OUS, with experience in emerging markets).

Areas of Responsibilities:

Cash Management and Treasury Operations

• Maintain company-wide Treasury policies/internal controls, including implementation of a SOX control framework for Treasury.
• Reevaluate treasury controls over ~500 global bank accounts - particularly in emerging markets or where there are large pockets of trapped cash and local bank usage. Responsible for effective communication to senior leadership on findings, improvements and execution.
• Oversee development of treasury reporting dashboards and bank reporting to senior management, and other internal stakeholders.
• Oversee the holdings of the KHC's $1-3B average balance of Global Cash & Cash Equivalents and ensure alignment with investment policy and review monthly returns / assess yield performance.
• Analyze and review KHC’s counterparty risk to contingency plan and mitigate impacts from bank defaults, global liquidity crunch, geopolitical impacts to the banking sector and protect KHC’s balance sheet, liquidity, and ability to operate and finance itself.
• Oversee the development of efficient and effective cash forecasting, global cash consolidation, dividends, intercompany funding, debt alternatives, capitalization, and related documentation. Involves cross functional work to develop tax efficient repatriation vehicles and documentation.
• Supports the banking and risk needs for the business in navigating M&A, new business ventures, new international markets, new legal entities, and cross-border financing.

Systems

• Identify and lead process improvements and systems enhancements in the Kyriba Treasury Management System, Reval, FXAll and banking connectivity.
• Guide the team in identifying opportunities for process improvements and automation.
• Treasury oversight to global GFIN project and treasury system initiatives.

Interest Rate and Foreign Exchange Risk Management

• Lead development and implementation of FX and Interest Rate hedging strategies, for both “business as usual” and unique transactions, e.g., M&A or capital raises.
• Provide thought-leadership on identification and risk mitigation of global FX exposures through optimal risk management across Net investment, Debt to EBITDA, Cash Flow and Balance Sheet strategies, as well as oversee the operational execution of all hedging activities.
• Reassess the company’s cash flow at risk to build out hedging program including forecast accuracy assessment, cost of hedging, tenor, volatility and changes to business strategy across $9B derivative portfolio and communicate the same to leadership / audit committee.
• Oversee interest rate hedging strategies for the new debt issuances as well as for the existing debt portfolio.
• Provide insightful analysis to Executive Management and Investor Relations in preparation for earnings and other external investor presentations.

Pension

• As a Pension board trustee, ensure $6B Global pension plans are managed in a way consistent with risk/return objectives and in compliance with directives of investment policies. Assess long term de-risking strategies for the plans.
• Understand performance of asset managers and overall plans, participate in decisions regarding asset allocation, manager replacements and funding plans.

Qualifications:

• Bachelor’s degree required, Advanced degrees or certifications (MBA. JD. CPA. CFA. etc,) strongly preferred
• Minimum 10 years of related experience, ideally already including time as an Assistant Treasurer in a sophisticated environment. (Additionally, 3 to 5 years of experience working in Corporate Banking at a large banking institution is highly valued though not required)
• Experience managing 10 to 20 direct/indirect reports in multiple geographies at different levels in their career
• Experience with all aspects of people leadership, including recruiting, hiring, firing, succession planning, mentoring, and developing talent
• Ability to maintain a strong collaborative team that works well across the global enterprise and can manage across a matrix organization (leading with both solid and dotted line reports)
• Must be highly analytical and able to solve complex financial problems, with recurring interaction with company leadership as well as the audit committee
• Must have strong technical skills and have excellent communication and presentation skills