Terex is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer return on investment. Terex delivers lifecycle solutions to a broad range of industries, including construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining. Terex reports in three business segments: Aerial Work Platforms; Cranes; and Materials Processing. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. For more information about Terex, its products and services, visit www.terex.com and/or www.facebook.com/TerexCorporation.
About the Position
Title: Director, Treasury – Capital Markets & Risk Management
Reports to: Chief Risk Officer
Location: Westport, CT
The key responsibility of this role is to provide leadership and oversight to Terex Corporation’s treasury operations in the following areas: capital allocation/structure; capital markets activities; revolver management; return of capital programs; risk management; retirement plans; investments and counter-party exposure; financial reporting/disclosure; covenant compliance; and financial analysis. The person will also be responsible for managing people, establishing and improving relationships, and designing and implementing “best practice” treasury processes in support of the needs of the global business.
Capital Allocation / Structure: manage the capital structure and capital allocation processes of the company; assess ideal leverage and fixed/floating rate mix and make recommendations as needed; identify opportunities minimize interest; monitor cash generation and evaluate alternative uses of cash including reinvestment in the company and return of capital programs (dividends and share repurchases)
Capital Markets Activities (Debt Raise, Repricing, Repayments, etc.): manage existing debt by ensuring that interest and principal payments are made on time; maintain compliance with debt covenants including reporting requirements; identify opportunities to reprice or repay debt; provide support in the execution of future credit facilities and capital market issuances
Revolver Management: partner with Assistant Treasurer to monitor cash receipts and requirements to determine amounts of borrowings and repayments under the revolver; manage the type and tenor of borrowings to minimize interest expense; roll borrowings as needed upon maturity.
Return of Capital Programs (Share Repurchases & Dividends): ensure that proper agreements are in place for the share repurchase and dividend programs; support the design of the share repurchase program; manage the execution of the share repurchase and dividend programs with third party providers; monitor daily share repurchase activity and report results to senior management
Risk Management (Currency and Interest Rate Hedging): manage global foreign exchange hedging program; provide advisory services to the global business and ensure that margins are protected by executing appropriate hedging strategies; identify opportunities for process improvement in the foreign exchange trading and transaction recording procedures; provide support in the implementation of hedge accounting globally
Cash Forecasting: partner with FP&A and Assistant Treasurer to produce cash forecasts.
Retirement Plans (Pensions, 401k, etc.): participate in the administrative committees for the Terex pension and retirement savings plans; recommend changes as needed; highlight any significant areas of concern or opportunities to management
Investments and Counter-party exposure: manage company investments in securities and other liquid instruments; establish bank and other counter-party credit limits in accordance with company policy; measure and monitor activity against the limits; report the activity on a regular basis (at least quarterly); collaborate with other Treasury TM’s to identify corrective actions to address unacceptable exposures
Financial Reporting / Disclosure (Interest, Debt, Risk Management, Pensions): prepare and distribute various reports on interest expense, debt levels, FX positions and pension matters on a regular basis; review drafts of 10Q/10K to ensure accuracy of data and statements with respect to interest, debt, risk management and retirement plans
Covenant Compliance: manage the compliance process for Treasury; review debt agreements to ensure requirements are understood and satisfied; proactively identify and communicate any compliance risks so that they can be addressed properly
Financial Analysis: perform financial analysis and produce reports, graphs and spreadsheets as needed to support the Capital Markets function
Treasury Policies and Controls: review existing policies and identify opportunities to improve existing treasury policies, procedures, and processes to further safeguard the company’s assets
Relationships: provide support in establishing and maintaining relationships with major commercial banks, investment banks, and other external advisors; coordinate across regions, business segments, and tax, accounting, and legal departments on global treasury operation initiatives
People Management: provide support in building and maintaining a “best practices" global treasury operation; retain, mentor, and develop team members to reach their potential and meet the needs of the business
Process Improvement: provide financial analytical support on broader process improvement initiatives and oversee the further development of Oracle TMS for global treasury operations