Position Summary and Primary Responsibilities
This position analyses internal and external data: to identify market exposures as well as cash management issues; recommend solutions and then; implement agreed strategies. Moreover, this position works with the rest of the Treasury team in building and maintaining good working relationships with banks and other Harsco functions to provide cost-effective, efficient treasury services to the Company.
Foreign Exchange Risk Management:
- Constantly monitors market forces for changes in market factors that can impact Harsco’s global foreign exchange positions.
- Reviews semi-monthly foreign currency exposure reports submitted from European, African, Middle Eastern and Asia-Pacific subsidiaries for changes to existing currency exposures and for upcoming or new exposures.
- Liaises with local management on specific currency exposure issues such as plant and equipment purchases sourced offshore or the transfer of assets between subsidiaries.
- Supervises the Company’s intercompany lending program.
- Supervises the execution of currency hedges and is a backup to Treasury Analysts who execute them.
- Supervises the execution of spot currency deals for subsidiaries and is a backup to Treasury Analysts who execute them. Resolves any deal confirmation discrepancies that may arise on FX transactions.
- Primary administrator of the Company’s automated currency dealing platform, “360T”, and the companion automated deal confirmation system, “Mysis”.
- Supervises the day-to-day intercompany loan activities of the Company’s finance subsidiary, Harsco International Finance.
- Proactively liaises with local management to extract excess funds from cash-rich subsidiaries via intercompany loans or dividends so as to minimize global cash balances.
- Oversees the daily cash reporting process summarizing the Company’s global cash balances.
- Oversees the maintenance of intercompany loan records including the preparation and approval of the monthly intercompany loan report.
- The primary administrator of the Company’s treasury management software, “Wall Street Systems”.
- Supervises the Company’s global cash pool overlay system at Bank Mendes Gans.
- Supervises the Company’s various other national cash pools in the US, Canada, UK, and Benelux. Troubleshoots problems when they arise.
- Supervises the Company’s borrowings under its main credit facility
- In cooperation with the Assistant Treasurer arranges for local credit facilities around the world as needed.
- Oversees the preparation of letters of credit and bank guarantees and assists businesses with trade finance initiatives.
- Supervision of the Company’s US credit card programs.
- Assists the Assistant Treasurer with banking issues in all areas of the world as needed.
Undertakes special projects at the direction of the Assistant Treasurer
- University diploma required.
- Minimum 4 years treasury operations experience in the corporate sector with international treasury component, including experience in foreign exchange risk assessment and management, or
- Minimum 4 years accounting experience for a multinational company with experience dealing with foreign exchange accounting issues
- Education or Experience
- Continuing education and/or experience in cash management and foreign exchange risk management
- Professional certification in either finance, accounting, or treasury management is advantageous but not required
- Minimum 2-3 years managerial experience supervising a small number of direct reports
- Experience using a Treasury Management System
- Working understanding of foreign currency translation and transaction accounting rules required.
- Effective written and verbal communication is essential. From time to time this position may give presentations to finance and management meetings.
- Must be able to teach people the basic tenants of foreign currency risk management and liquidity management.
- Must have the ability to work for a common purpose with people from various disciplines who sometimes hold diverging views.
We offer competitive benefits, including health insurance, life insurance and disability plans, as well as a 401k with company matching.
Harsco is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, creed, religion, sex, age, national origin, disability, protected veteran status, marital status, sexual orientation, citizenship status or any other characteristic protected by law.