Sr. Director, Treasury

Job Description

About the role

Reporting to the Global Treasurer (GT), the role is responsible for leading all treasury activities within the Americas (North & South America) region and directing the Americas treasury team. Additionally, the role is accountable for directing and managing the day-to-day activities related to Amcor’s capital structure, external financing, debt covenant & global SOX compliance, and key stakeholder reporting. This includes but is not limited to transactions in the debt and equity capital markets, share repurchases, USD commercial paper issuance, working capital management, interest rate hedging and interest expense management, monthly management reporting, board reporting, external reporting (e.g. SEC requirements), global SOX reporting, internal hurdle rate management (discount rates / hurdle rates), and maintaining all Global Treasury policies. The role also assists the GT with managing Amcor’s relationships with the lending banks, ratings agencies (Moody’s/S&P/Fitch) and credit analysts

The role leads the Americas team support for all Business Groups (BGs) within the region on their respective treasury needs. This includes a wide range of responsibilities from cash and liquidity management to financial risk management, working capital initiatives, short-term funding, bank relationship, treasury systems and more.

Key Job Accountabilities

Capital Structure Management

• Managing Amcor’s funding activities, including equity and debt capital market issuances
• Monitoring the debt / equity funding balance consistent with a BBB/Baa2 rated company

Funding strategy and liquidity management

• Assess strategic and annual operating plans to prepare a funding plan analysis to support Amcor’s objectives (leverage, debt/equity mix, liquidity needs, interest expense)
• Work with the Regional Treasury Directors to ensure adequate liquidity is available to fund Amcor’s working capital needs, while ensuring that Amcor’s day-to-day liquidity levels are maintained at optimal levels by managing Amcor’s USD and EUR commercial paper programs

Working capital and CAPEX management

• Closely manage borrowings with goal of maintaining compliance with financial covenants
• Leads the global coordination and reporting on Amcor’s supply chain finance, customer supply chain finance, and inventory finance facilities
• Work with the BGs and corporate accounting to ensure all working capital programs are in compliance with Amcor’s policies

Interest rate management

• Leading the development of appropriate interest rate policies and interest rate expense management strategies
• Working with the Regional Treasury Directors on the implementation of the interest expense management strategy
• Ensuring net interest expense is reported in a timely manner and continuously develop methods to improve analysis
• Efficiently managing Amcor’s interest rate exposure and budget to minimise net interest costs and maximise opportunities by developing and implementing various interest rate risk management strategies
• Effectively adjusting Amcor’s interest rate exposure profile through the use of synthetic products such as FRA’s, interest rate swaps, options and futures

Return of capital and share trust activities

• Oversee Amcor’s annual share repurchases across both the NYSE & ASX
• Evaluate the funding requirements for Amcor’s share-trust, including designing and implementing strategies on how to best fund (on-market purchases, equity hedges, etc)
• Coordinate with Treasurer EMEA/APAC on ensuring that quarterly dividend funding in in place

Treasury financial reporting

• Oversee the creation and distribution of the Global Treasury monthly management report (MMR) and routine board presentations (5x / year)
• Prepare ad hoc board presentations on treasury matters (DCM, Financing, Share Trust, Dividend, Repurchases, etc)
• Prepare/review all financial statement disclosures for quarterly and full year accounts around treasury and financial risks (SEC reporting)
• Interface with internal and external auditors on treasury matters
• Prepare relevant reporting for debt and credit facilities on financial covenants
• Lead the coordination of the Global Treasury SOX compliance, testing & reporting

Rating Agency management

• Assist the GT with managing relationship with credit rating agencies
• Develop model to track and forecast rating agency metrics
• Lead team efforts, alongside Investor Relations (IR) team on preparing quarterly earnings update and periodic updates on the company’s liquidity profile for the Ratings Agencies.
• Work with the GT and IR on proactively addressing rating agency questions about the outlook for the business and Amcor’s credit metrics

Regional Financing

• Assessing and recommending inter-company loan structures (including corporate loans, regional, in-country, intra-Business Group structures)
• Negotiating/organising appropriate external short- and long-term facilities with banks (ex: working capital lines, overdraft facilities, revolver and term funding and others)

Cash and cash pool management

Create the strategy for an efficient bank account and cash pool setup for the Americas region

• Manage and optimise the number of bank accounts across both regions and their setup
• Setup, maintain and optimise the regionals cash pool arrangements
• Develop regional cash repatriation strategy in consultation with the BGs

Liquidity management and short-term funding

• Setup, maintain and optimise regional credit lines. Use bilateral, overdraft or synthetic facilities in addition to syndicated facilities to increase flexibility and/or lower interest expense
• Cash concentration efforts within the region to minimize non-pooled cash and offer the main platform and flexibility as a hub for Amcor to pool/fund globally
• Maintain the substantial intercompany loan positions with the region

Repatriation and Americas capital structure

• Coordinate the Americas cash repatriation program
• Together with Tax team, address specific capital structure requirements within the Americas region to optimise the outcome: e.g. equity injections in high interest rate environments, capital reductions to free up unused capacity, minority shareholder negotiations, long term loan qualifications, etc

Financial Risk management

• Establish FX risk management strategy for Americas exposures. This includes hedging operational exposures, intercompany loans as well as cash balances
• Drive usage of FX risk management systems and tools across the region (Reval, FXall, and transitioning to Kyriba)
• Oversee risk management activities executed by the Americas’ treasury team

Working capital initiatives & trade finance

• Setup, maintain and enhance approved supply side financing programs
• Setup, maintain and enhance approved reverse factoring programs
• Setup, maintain and enhance guarantee and letters of credit facilities
• Advise and support special programs as needed (sale and lease back, hire purchase, a/r sales programs, etc.)
• Supporting global reporting requirements from the region for SCF and CSCF programs

Global Treasury related activities

Support GT on group wide requirements in areas such as:

• Optimising global cash balances.
• Global repatriation plan and coordination of the underlying transactions throughout the year.
• Preparation of treasury related board papers (as required).
• Treasury contribution to Amcor’s financial reporting requirements. Eg. consolidated treasury SRP, analysis and reporting for certain financial notes, etc.
• Global Treasury audit and compliance (internal and external).
• Ensure external compliance requirements for treasury (Dodd Frank, FBAR, etc.).
• Own the global relationship for the Treasury Management System (Reval) and drive optimization of the system’s adoption and usage across Amcor

Bank relationship management

• Lead and optimize the transactional banking structure in each country, with pooling/netting capability if possible for each BG and BU
• Assess, direct and coordinate business to Amcor relationship banks where appropriate and beneficial for each Business Group (especially within Latin America)
• Engage with global procurement to ensure efficient contract negotiations (ex: corporate cards)

Systems and infrastructure

• Various banking software solutions and interfaces. Includes user access and in some cases administrator responsibilities
• Treasury management system and interfaces (currently Reval, transitioning to Kyriba)
• Trading system and interfaces (Reuters/FXall with ancillary interfaces)

Managing Diversity/directing Others

Lead, manage, guide and develop the Americas treasury team as a group of highly specialised and highly-motivated individuals who like to win and work as a team

Specific (regional and/or global) projects and M&A transactions

• Cash pools
• Repatriation schemes
• M&A treasury support (acquisition, divestment, venture, etc.)
• Internal loan restructuring

Qualifications/Requirements

• Bachelors degree in Accounting, Finance or related field. Minimum of 10 years of treasury experience
• Professional certification such as CTP or CPA
• CFA preferred
• Preferred: Fully Bilingual, English and Spanish; Portuguese is a plus
• Master’s degree in Business Administration or related field, preferred
• Business Acumen