Management Risk
Resume:
NICK CUMMINGS
Dallas, TX, 75219 *************@*****.***
PROFESSIONAL EXPERIENCE
Kimberly Clark Irving, TX
Global Markets Strategist June 2014 – Present
Responsible for the analysis and execution of foreign exchange (FX), interest rate & commodity risk management strategies, and international balance sheet management solutions.
Developed risk management policies incorporating Value a Risk (VaR) methodology and interest rate optimization strategies governing an $8 billion long term debt portfolio and $4 billion of FX exposures.
Direct the strategy and execution of Kimberly-Clark’s cash-flow and balance sheet FX risk management programs by consulting subsidiaries on exposure measurement/management and aligning cash flow strategy with mitigation of earnings translation.
Lead analysis and execution of debt capital markets strategy which produced ongoing reduction of annual interest expense of $20 million and $8 million reduction of interest expense due to implemented hedging strategies.
Assisted in the spin-off of Halyard Health Inc.; a $1.6 billion subsidiary of Kimberly Clark, by coordinating bridge financing and onboarding the new treasury organization with a focus on funding and risk management.
Implemented net investment hedging strategy to mitigate cash-flow volatility (outflows of $140 million in Q1- 2015) caused by balance sheet derivatives used to hedge intercompany loans.
Collaborate with tax and local business teams to analyze and support the implementation of financing and capital structure initiatives for international affiliates including capitalization, repatriation, and working capital solutions.
Maintain banking relationships in support of Kimberly Clark’s trading, debt capital markets, and cross-border funding activity.
Cargill Incorporated Hopkins, MN
Trader April 2011 – June 2014
Proprietary trader for Cargill’s Emerging Markets Trading (EMT) & Global Funding Groups (GFG) actively trading in FX, fixed income, and commodity markets; while coordinating the analysis, execution, and hedging of Cargill’s debt issuances.
Trader for Cargill’s global EMT/GFG proprietary trading team producing over $30 million annually via fundamental, technical, relative value, and quantitative trading strategies.
oTrade various asset classes in G10 and Latin America markets including FX, fixed income, and commodities while applying directional, spread, basis, curve, and volatility strategies.
oAssisted in the implementation of a commodity/currency trading strategy with Black River Asset Management focusing on trading spreads of co-integrated commodity/currency pairs which generated $1 million.
oImplemented directional and curve interest rate swap trading strategies generating $2.1 million in profit.
oResponsible for daily capital markets summary to Cargill leadership team (CEO, CFO, Treasurer, etc.) including analysis of global current events, economic data, and impacts on various asset classes.
oTrained Cargill Risk Management trading and sales team on FX options which led to the expansion of the commodity risk management business to include structured commodity and FX hedging products.
oExtensive experience with Bloomberg and Microsoft Excel pulling large data sets and designing valuation and risk models for FX, fixed income, and commodity instruments.
Support the Assistant Treasurer in maintaining Cargill’s $11 billion debt portfolio, global FX risk management practices, and management of excess liquidity.
oResponsible for the analysis, execution, and hedging strategy of five debt transactions (Euro & USD) of $3.2 billion.
oImplemented fair value hedging strategy that led to the acceleration of $120 million in interest expense and $7 million NPV benefit.
oManage North America FX service desk and coordinated with global treasury hubs to provide advisory and execution services to all Cargill businesses and clients with FX and interest rate exposures.
oResponsible for monitoring the currency adjusted Libor spreads of short term sovereign bonds and investing over $1 billion in excess cash.
Treasury Operations Analyst January 2010 – April 2011
Managed operational activities pertaining to Cargill’s Global Funding Group & Emerging Markets Trading initiatives, including confirmation, documentation, and settlement of credit, FX, fixed income, and commodity transactions.
Maintained Cargill’s margining system for trade related activity including executing daily margin calls, stress testing portfolio positions and working with counterparties to reconcile portfolios/ managed counterparty credit risk.
Organized over $200 million in payments per day while overseeing the settlement process for currency trading activity.
EDUCATION
University of Wisconsin-Eau Claire
Bachelor of Business Administration
Major: Finance
Graduate Cum Laude 2009
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