Manager Management
Resume:
ROBERT S. HEMSTREET
North Kingstown, Rhode Island 02852
***********@*****.***
http://www.linkedin.com/in/roberthemstreet
SUMMARY
Financial professional with extensive Treasury experience in a fast-paced global multi-industry company. Enterprise-wide
leader in establishing strategy, developing policy, and implementing both structural and technological solutions related to
cash management, liquidity management, foreign exchange, trade finance and business resumption. Proven track record of
decision making, consultative services, relationship management (both internally and externally), designing and
implementing state of the art banking structures and innovative technology. Personally driven by a passion for excellence
and holding to the highest level of ethical and professional standards.
PROFESSIONAL EXPERIENCE
TEXTRON INC, Providence, RI 1987-2008
Textron is a $13 billion global multi-industry company comprising of aerospace, defense, automotive, industrial, and
financial businesses employing 42,000 in 28 countries.
Assistant Treasurer (2001-2008)
Managed the Global Treasury Operations of a centralized Treasury. Managed team of five.
• Developed strategy and established policy for of cash management, foreign exchange, and trade finance on a global
basis.
• Managed Treasury Internal Control, Business Resumption Planning, and Systems.
• Led Six Sigma teams through:
o RFP process evaluating and implementing a nationwide lockbox structure, saving in excess of $750k per year
on an annual basis, in addition helped BU’s reduce headcount through using advanced technology and eliminating all paper
in the process
o RFP process evaluating and implementing a global credit card system (travel and purchasing), reducing costs by
10%, increasing rebate by 20%, and delivering a common process.
o RFP process to identify and implement a single Merchant Service Provider, standardizing the process and
reducing costs.
• Evaluated, recommended, designed, and implemented new Treasury Management system, built from the ground up with
a third-party software developer. Reduced bank costs in excess of $1M per year, accelerated reporting to BU’s, by delivering
a self-service model, provided a platform that was Business Continuity planning friendly.
• Early adopter and visionary for process improvement of implementing foreign exchange and cash investment portals.
Improved visibility, increased yield, and instilled multi-level controls into the process.
• Designed, implemented and enhanced cash pooling arrangements in Canada, UK, Euro-zone, Australia, and in the US.
Reduced number of banks relationships, bank accounts, and bank-related costs, centralizing control of liquidity and
improving visibility,
• Negotiated credit facilities, maintained banking relationships. Drove finance for many acquisitions and divestitures.
• Promoted from Director of International Finance
Director of International Finance, (1987-2001)
Directed all International Treasury functions. Managed team of three.
• Managed all treasury aspects and twenty international divestitures and acquisitions.
• Established two multi-currency facilities (bank syndications) totaling $800M.
• Implemented a $200M commercial paper program in Canada.
• Designed and implemented one of the first cash concentration systems in Europe, after the adoption of the Euro.
Centralized liquidity, eliminated 50 bank relationships, and over 200 bank accounts, reducing banking costs overall by 35%.
• Implemented European Multi-Bank balance reporting.
• Wrote and Implemented Corporate policy for foreign exchange and trade finance.
Robert S. Hemstreet Page 2 of 2
401-***-**** ***********@*****.***
PROFESSIONAL EXPERIENCE (continued)
EX-CELLO-CORPORATION, Troy, Michigan 1973-1987
Ex-Cell-O was a $1 Billion multi-industry manufacturing company comprised of aerospace, automotive, machine tool and
industrial companies.
Manager of Cash & Financial Systems (1981-1987)
• Responsible for all aspects of a Centralized Domestic Cash Management and Cash Accounting Department of a billion
dollar corporation.
• Developed and implemented new electronic cash book system from the ground up.
• Managed team of four.
• Promoted from Manager of Financial Systems
Management Information Systems (1973-1981) Progressive experience:
Manager of Financial Systems
Senior Systems Analyst
Advanced Programmer
Programmer
Trainee
EDUCATION
MBA, Business Finance, Eastern Michigan University, Ypsilanti, MI 1979
BBA, Management, Eastern Michigan University, Ypsilanti, MI 1972
Executive Development, Wharton Strategic Partnering for Finance Leaders
CERTIFICATIONS
CTP Certified Cash Manager
CDP Certified Data Processing
Certified Six Sigma-Green Belt
AWARD
Earned Textron’s Finance Pinnacle award, which is an internal award given out to the most significant four finance projects
achieved across the enterprise each year.
AFFILIATIONS
Association for Financial Professionals
International Corporate Treasury Group
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