Cash Management Business Unit
Resume:
MITCHELL B. LANGENOHL
Morristown, NJ
********.*********@*****.***
LinkedIn URL: https://www.linkedin.com/in/mitchlangenohl
WORLD INSURANCE ASSOCIATED, LLC, Iselin, NJ 2022 – 2025
Treasury Manager
●Maintained a 13-week cash flow forecast model consisting of the activity of the firm’s three major business units and concentration accounts and held weekly meetings with the business unit CFOs to determine the business drivers of any forecast differences.
●Prepared the weekly report on cash balances in bank accounts to the firm’s CEO, CFO, and Controller.
●Acted as an internal consultant to the company on banking and cash flow matters, which resulted in improved bank relationship coverage under a middle market structure, interest earned on idle cash which resulted in additional interest income of $807,000, and a streamlined banking structure.
●Confirmed and initiated all general corporate and M&A wire transfers and ensured that transactions were executed properly and accurately.
●Developed and maintained banking relationships
●Converted the annual corporate partner tax distribution payment process from a primarily check-based payment process to an ACH payment process. This change saved the company thousands of dollars in transfer costs and eliminated the timeframe needed to distribute these payments.
RWJBARNABAS HEALTH, INC., West Orange, NJ 2009 – 2022
Director, Assistant Treasurer
●Developed and maintained banking relationships with the firm’s banking group and cash management banks.
●Executed daily wire transfers and ensured that transactions were received by finance to record.
●Led the selection and implementation process for the company’s first treasury workstation which provided greater clarity into the overall cash position and the components affecting volatility.
●Developed the first 12-month cash forecast which broke out components driving cash volatility and aided in maximizing cash available for investment.
●Developed operational policies that supported the execution of funds transfers, and bank account creation.
AMERICAN EXPRESS TRS INC. CO., New York, NY 1999 – 2009
Cash Manager, TRS Treasury Operations
●Developed and instituted a new US cash Management liquidity reporting format providing greater clarity to components of corporate liquidity.
●Team Leader for reconfiguration of the company’s transaction and balance reporting capabilities at savings of approximately $1.2 million per year.
●Developed and implemented Sarbanes Oxley 404 testing and verification for all cash management processes, manual check processing, and cash accounting.
●Liaison for US Cash Management group to both internal and external audit teams ensuring audits progressed according to plan and responding to audit inquiries.
●Global budget coordinator for Treasury Group and included forecasting, tracking, and providing variance analysis for the department’s $35 million operating budget.
ENGELHARD CORPORATION (Currently BASF), Iselin, NJ 1993 – 1999
Global Cash Management, Senior Analyst
●Developed and executed corporate foreign exchange hedging strategy limiting the firm’s exposure to currency risk related to foreign operating cash flows.
●Managed the company’s global banking network and board authorized signers for each account.
●Assisted in the implementation of the company’s treasury workstation.
KEY TECHNOLOGIES
Cash Management Packages/Web products: Sungard Avantgard’s TWS, JPMorgan’s Access, Truist One View, Wells Fargo CEO, Northern Trust’s Web Cash Management, Bank of New York Mellon’s Ca$h Register Plus, TD eTrerasury and Bank of New York Mellon’s Inform, Kyriba Treasury Work Station.
EDUCATION AND CERTIFICATIONS
MBA in International Business, with an emphasis in Finance
BS Finance/Economics
Fairleigh Dickinson University, Madison, New Jersey
Contact this candidate