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Head Treasury - Corporate Cash & Financial Risk Management (CC&FRM)
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In a nutshell
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Introduction to the job
Keeping up with the fast-changing developments and adjusting the organization (people, processes and systems) accordingly is essential for success of the department.
Furthermore, intercompany and external payments are executed for the entire ASML group, making sure execution is flawless and timely and adherence to local laws and regulations is secured.
Role and responsibilities
Purpose of the Job
Key Areas of Responsibility (KAR’s)
- Lead and manage a global team of Treasury CC&FRM experts, located in four locations on 3 continents towards world class Treasury management
- Manage, continuously improve and monitor the end-to-end Treasury CC&FRM function and related daily processes, including IT applications landscape and related accounting, reporting and internal controls.
- Develop, optimize, manage and document the corporate financial risk management strategy to ensure financial risks are efficiently and effectively managed within ASML’s risk appetite and risk bearing capacity.
- Develop, optimize and manage the liquidity-, bank account and inter-company financing structure of the ASML group to ensure the right amount of liquidity is available in the right currency at the right place at all times to ensure business continuity globally and flawless payment and collection execution
- Develop, optimize and manage the group’s global investment portfolio prudently and effectively by using appropriate investment products and aligning strategy with cash forecasts and business developments
- Ensure optimal assessment, selection, deployment and terms & conditions of financial (derivative) instruments applied in liquidity- and financial risk management / hedging
- Develop and maintain strategic advisory and strong working relationships with CFO/senior management and sectors as well as the global banking, advisory and financial risk management industry, regulators, central banks as well as corporate peers in all CC&FRM areas
- Own the Treasury assessment and input of all cross sectoral projects and related decision making in the broader finance strategic decision-making body (Finance, Legal, Accounting, Tax and Treasury (FLATT))
- Develop, manage and maintain the applicable Treasury laws and regulations framework for the ASML group globally
Key Issues Facing Your Job
Financial risk, cash & investment management expertise – being able to assess and quantify financial exposures and translate these into hedging and investment strategies that are effective in protecting the company for financial loss and create a risk balanced return on the investment portfolio. In order to assure cash, investment and financial risk management in a compliant way, understanding and application of local laws and regulations related to the treasury activities within the ASML group is essential. Non-compliance issues will have a significant impact on ASML and its local directors, including significant fines and jail sentence.
The treasury environment - including related suppliers like banks and IT application providers, technology, instruments, techniques, solutions - is constantly changing. For effective, compliant and efficient management of treasury CC&FRM activities it is important to keep up with the latest developments and implement required changes in the end-to-end processes. It is essential to have a solid network of outside parties like (central) banks, advisers, IT vendors, Treasury peers, regulators, etc. This also allows for a translation of external best practices into ASML context and implementation throughout the company.
Collaboration and alignment within the broader finance organization (Finance, Legal, Accounting, Tax and Treasury (FLATT)) is important to make sure that any projects or changes within the group will be implemented successfully in processes and the internal control framework and that cross functional impact is properly taken into account. A solid understanding of how relevant Tax, Legal and Accounting issues impact the Treasury function (and vice versa) is essential – close and proactive alignment with those expertise functions in particular is key.
Quality of source data. In order to be successful in financial risk management, understanding and collaboration with the business and related finance flows is crucial. This in order to be able to rightly interpret the data and make decisions. In case of flaws in business / finance processes it is important to be able to identify these and escalate these to process owners to avoid significant losses to the company.
- Selection and execution of investment and hedging solutions
- Set up of intercompany financing structures and related instruments
- Changes in the processes, resulting from efficiency opportunities and compliance matters
- Decide how to deal with sudden financial market events (crises, bankruptcies, currency movements, etc.)
- People & Team development
- Proposed Treasury Policy changes
- Selection and implementation of IT applications
- Selection of counterparties (banks, advisers, vendors)
Education and experience
- Master’s degree with strong analytical and problem-solving ability
- Over 10 years’ experience in Treasury in large globally operating companies
- In depth knowledge of cash & investment management, financial risk management, related instruments, deal-making/negotiating and relevant accounting
- Experience in managing and coaching a multi-cultural team working in different locations globally, including solid
- Understanding and experience with setting up admin and control frameworks and organization
- Solid understanding of underlying business processes and related financial flows
- Good knowledge of relevant legal, accounting and taxation aspects
- Creative in anticipating changes in business activities and their risk consequences
Working at the cutting edge of tech, you’ll always have new challenges and new problems to solve – and working together is the only way to do that. You won’t work in a silo. Instead, you’ll be part of a creative, dynamic work environment where you’ll collaborate with supportive colleagues. There is always space for creative and unique points of view. You’ll have the flexibility and trust to choose how best to tackle tasks and solve problems.
To thrive in this job, you’ll need the following skills:
- Excellent communication skills
Diversity & Inclusion
ASML is an Equal Opportunity Employer that values and respects the importance of a diverse and inclusive workforce. It is the policy of the company to recruit, hire, train and promote persons in all job titles without regard to race, color, religion, sex, age, national origin, veteran status, disability, sexual orientation, or gender identity. We recognize that diversity and inclusion is a driving force in the success of our company.
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