Job Description and Qualifications
Other significant areas of responsibility include staff development, financial transaction approval, financial risk management strategy development, bank relationship management, and related audit and Sarbanes Oxley compliance. In addition, responsibility for the company’s $2.75 billion Syndicated Credit Facility is shared with this position. Finally, the incumbent’s organization serves as one of the Company’s center of excellence on risk management using financial derivatives.
DIMENSIONS:
Delegated Authority:
Cash Management- Unlimited
Bank Account Establishment – Unlimited
Intercompany – Unlimited (where the portion related to third party is less than $25 million)
Currency Risk Management – Related to Intercompany Loans – Unlimited, All other = $100 million
Bank Guarantees/Letter of Credit/Surety Bonds – $50 million
Debt Management Transactions – Unlimited related to Intercompany Loans
Approved Financial Transactions – unlimited
Total Debt Portfolio – $7.8 billion
Short Term Investment Portfolio – $1.5 – $6 billion
Committed Credit Facility – $2.75 billion
Annual Interest Incurred – $190 million
Outstanding Interest Rate & Currency Swaps – $2.0 billion
Annual Foreign Currency Contracts – 3,000 contracts valued at a total of $19.5 billion
PRINCIPAL ACCOUNTABILITIES:
Debt Funding and Debt Portfolio Management
These responsibilities require a thorough understanding of the global debt and project finance markets, the risks the Company is willing to take in accomplishing its borrowing and interest rate management needs, the debt funding and debt management instruments available to the Company, the accounting, tax and legal ramifications of each instrument and the form of agreements acceptable to the Company. Specific accountabilities are:
Management responsibility for the consolidated interest incurred and interest income forecasts and analyses. These forecasts and analyses are used in the development of financing plan and net income projections and in evaluating historic results. An awareness of past and projected cash flows, a complete understanding of the debt portfolio and an ability to communicate results in a clear and concise manner are required.
Currency Risk Management
These responsibilities require a thorough understanding of the global currency markets, the risks the Company is willing to take in accomplishing its currency risk management needs, the currency management instruments available to the Company, the accounting, tax and legal ramifications of each instrument and the form of agreements acceptable to the Company.
Letters of Credit/Bank Guarantees
This requires a strong understanding of these types of instruments, as well as the associated product supply and sale of equipment contracts. It also requires a good understanding of the reimbursement agreements between Air Products and the Issuing Bank.
Staff Management and Development
Responsible for managing and developing a staff of a few Treasury professionals. The significant financial risk of the tasks performed requires complete functional training and a full understanding of policies and controls by all personnel. The time critical nature of the tasks make it imperative that adequate cross training and back-up plans be developed. A balance must be struck between developing and maintaining the Treasury expertise required to effectively perform these jobs and actions to broaden a person’s skills to allow for continued opportunities and advancement within the Company.
Other Major Accountabilities
Qualifications:
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Organization
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