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Treasury/Cash Management

Location:
United States
Posted:
September 19, 2008

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Resume:

PAMELA TORGE

**** **********

Orchard Lake, MI **324

248-***-****

******@****.***

Treasury/Cash Manager with 10+ years corporate finance experience, strong analytical skills in budgeting and forecasting, working capital analysis and identifying and implementing process improvement and cost savings opportunities.

Relocating to Southern Florida to be closer to my family.

PROFESSIONAL EXPERIENCE

8/2004 – Present Valeo, Inc. (tier 1 international automotive supplier with $15B in annual sales)

Treasury Manager, North America

• Proven track record at preparing weekly and monthly cash forecasts and semi-annual budgets with detailed analysis of variances for 4 Holding companies.

• Reconcilement of daily bank activity and determination of short term investment to optimize the overall cash position.

• Reporting and monitoring of $110M net indebtedness, outstanding overdues, and the operating working capital for 10 US divisions and 4 Holding companies.

• Saved $50K in interest fees from the management of day to day cash flows and funding decisions on $40M of short and $150M of long term investment credit lines.

• Manage $20M letter of credit line; standby, commercial, import and export to avoid costly fees and penalties.

• Saved over $100K annually from bank and investment fee analysis, analytical review and feasibility studies of banking and investment services, and maintaining banking and short-term investment relationships.

• Managing foreign currency consolidation, reporting and hedging for US divisions to control risk.

• Using SAP, implemented and secured an automated process for wire transfers, ACH, Lockbox, payroll and pension payments via on line banking platform.

• Implemented internal control process improvements in AR and AP such as delegation of authority, segregation of duties, signature, wire and check authorization processes, and reporting procedures to ensure the security of the cash and bank activities.

• Implemented a Treasury Workstation solution for US divisions.

• Implemented a cash pooling solution for Mexican divisions.

• Implemented a second cash pooling solution for US divisions.

• Collected $5.4M from 48 separate 401K forfeiture funds.

• Implemented a new fleet car program for all North American divisions resulting in savings over $30K monthly.

• Implemented, managed and reconciled a Stock Sharing plan for 700 employees ($800K).

• Managed the settlement of a class action law suit for 500 employees totaling $1.2M.

• Actively participate in Sarbanes Oxley process with full responsibility for all Treasury controls.

5/2000 – 8/2004 Valeo Electrical Systems, Inc.

Cash Manager, Wiper Systems Division (largest division within Valeo worldwide)

• Manage the operating cash for the North American Wipers Division.

• Proven track record at preparing weekly and monthly cash forecasts and semi-annual budgets with detailed analysis of variances for the Wiper Systems Division.

• Daily and monthly cash reporting and monitoring of the net indebtedness, outstanding customer overdues, and the operating working capital of the division.

• Establishing delegation of authority, segregation of duties, signature, wire and check authorization, and reporting procedures for internal control.

• Reduced customer over dues by over $8M and managed supplier payments within terms to avoid costly customer interruption.

• Implemented policy and procedure for determining credit worthiness and credit limits for current and future customers.

• Managed cash for 5 other Valeo divisions to be in daily compliance with tight bank constraints during bankruptcy proceedings.

• Provided treasury support to 2 Mexican Wiper plants.

4/1998 – 5/2000 DMR Financial Services, Inc, MI

Cash Manager (real estate investment, commercial and residential mortgage services)

• Maintained daily cash requirements by analyzing the cash position and financial activity.

• Developed controls to maintain and reconcile $60M bank lines of credit, ensure timely debt reduction and reducing debt interest charges and transaction fees of over $50K annually.

• Designing complex reports to analyze banking activity involving over 40 accounts and identifying unnecessary charges resulting in savings of over $15,000.

• Collected over $500,000 in title company funding errors, duplicate payments and canceled notes.

• Developed a sales report for profitability analysis which led to timelier flow of cash and more accurate investor funding.

• Identified and eliminated incorrect negative interest adjustments saving over $10,000.

• Work closely with accounting to research, analyze and reconcile past cash flow and general ledger activity for accurate financial reporting.

2/1997-4/1998 MCA Financial Corporation, MI

Asst. VP-Warehouse Banking (real estate investment, commercial and residential mortgage services)

• Manage $300M in banking lines of credit and ensure compliance with bank contracts.

• Acted as the liaison between the syndicate banks and Operations management to ensure timely cash flow which resulted in the reduction of fees of $50,000 per month.

• Coordinated warehouse lending operations with the home office and 38 branch locations to provide accurate funding and payment of notes.

• Identified $3M of problem bank notes before the initial outflow of cash.

• Prepared Cash flow forecasts and variance analysis to identify and correct current and future inefficiencies surrounding investor funding and new debt.

1995 – 1997 Keystone Mortgage Corp, MI

Controller (mortgage broker)

• Developed monthly and annual financial statements and profitability analysis for a new start up company.

• Implemented payroll system, payables system, and general ledger account system.

• Integrated a computer network system as the company expanded, and hired and trained staff.

• Implemented warehouse bank lines of credit thus reducing interest charges and bank fees by $10,000 per month.

• Conducted analysis and detailed research of operations which led to the resolution of post closing issues and timely loan financing, saving the company $5,000 per month in Lender fees.

• Responsible for federal, state, city taxes, federal/state compliance reports, and collection of past due notes.

1991 – 1995 Traffic & Safety Control Systems, Inc., MI

Accountant/Office Manager

• Preparation & analysis of month/year end financial statements, G/L reconciliation, journal entries, payroll, accounts receivable, accounts payable and collections.

• Maintained compliance for EO laws.

• Implemented automated computer accounting using RealWorld Accounting.

1987 - 1991 ADT Security Systems, Inc., MI

Accountant

• Monthly analysis & reconciliation of G/L accounts and analysis of budget variances.

• Implemented new automated payroll system with ADP.

• Implemented new accounting database software and trained staff.

EDUCATION

• Master of Science Degree – Major: Finance, Walsh College of Accountancy and Business Administration

(Walsh College is accredited by The Higher Learning Commission of the North Central Association of Colleges and Schools.)

• Bachelor of Science Degree – Finance, Oakland University



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