• Assistant Treasurer

    Job Locations US-MA-Boston
    Posted Date 5 days ago(2/12/2020 3:36 PM)
    Requisition ID
    2020-8481
    Job Function
    Finance
  • .

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    Do you dare to reinvent the future of education?

    At Cengage, we are harnessing the power of tech to build a future where all learners have the tools and confidence to achieve their goals. As a Cengage employee, you will blaze a new trail to transform the way people learn. Collaborating with the best of the best, you will feel challenged and inspired to do breakthrough work. With the support of our united team, there is no limit to what you can imagine, create and set in motion.  

    Are we right for you?

    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:

    Cash Management

    • 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

     

    Capital Markets

    • 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

     

    Insurance

    • 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

     

    Policies/Internal Controls

    • 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   

     

    Other

    • 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:
      • Cash Management,
      • Risk Management
        • Insurance
        • Foreign Exchange
    • 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

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