clemens denks

Developed financing strategies and solutions for subsidiaries in emerging markets (Eastern Europe and Asia). Executed external and intercompany loans and deposits, CP issuances, interest rate swaps, forfeitures, factoring, securities lending and further diverse money and capital market products. Analyzed interest rate risk positions and developed and executed hedging strategies. Fostered bank relationships to support continued expansion into the capital markets as well as into new markets. Supported the establishment of S&P and Moody’s ratings.

Trained and educated in all matters of retail and wholesale banking.

* Global responsibility for all cash forecasting and cash management activities, hedging transactions to manage FX, interest rate, and commodity exposures, maintaining and enhancing the existing capital structure, leading the communication with banks and rating agencies, and debt compliance reporting for bond and revolving credit facilities. * Lead a multitude of initiatives to improve the operating cash flow of the company by strategically optimizing accounts receivable and accounts payable activities, the set-up of securitization programs, and the identification of other disposable assets. * Lead Accounts Receivable and Accounts Payable teams * Engage in the global short- and long-term budgeting process * Manage insurance affairs * Reporting to the CFO * Experienced with Board of Directors committees * Mentor and train team members * Co-lead of IR program

Leading a team of Treasury, Accounts Receivable, and Accounts Payable professionals based in the U.S. and Mexico. Coordinating closely with European Finance staff to harmonize and integrate local treasury processes. Responsible for executing the treasury activities of the company which include day to day cash management activities, cash flow forecasting and enhancement initiatives, capital market initiatives, FX and commodity hedging activities, lender compliance, investor relations, Accounts Receivable, Accounts Payable, and corporate credit cards.

Forecasted cash levels for the Volkswagen Group as well as multiple subsidiaries in multiple currencies. Concluded foreign exchange (“FX”) spot and hedging transactions. Issued CPs and other short-term instruments to ensure appropriate funding of on-going operations, and invested excess cash in short- and long term investment opportunities. Managed fixed income portfolio of $3+ billion. Advised and assisted treasury colleagues at foreign subsidiaries to enhance process flow. Assisted CFO with the preparation of Board and other high-level internal meetings. Implementation team member and “super user” of the Wall Street Systems Treasury System.

* Lead Treasury, Pension and Payroll activities of US and Canadian operations * Oversee Treasury activities in Mexico and South America * Manage 401(k) and defined benefit plans, serve as plan administrator and committee member, support all accounting and audit-related activities, organize and lead committee meetings, and develop long-term contribution and funding ratio forecasts * Manage Asset Based Lending credit facility, including production of monthly Borrowing Base Certificate in accordance with ABL agreement, and support of regular audits * Lead local M&A - related Treasury activities * Improve cash forecasting accuracy * Manage payment and cash pooling processes, maintain Treasury systems * Maintain local bank relationships and enhance existing bank fee structures * Consolidate FX exposure forecasts and propose hedging transactions * Engage in insurance / risk management negotiations and administrative activities related to US-based operations * Ensure Treasury activities are in compliance with policies, participate in SOX activities, and promote fraud prevention measures

Activities and Societies: Beta Gamma Sigma