Frank Nix

Experienced Treasury leader with extensive experience leading global Treasury organizations to accomplish strategic objectives and drive efficiencies. Designed and implemented future state global treasury organizations by transforming highly manual processes to automated workflows that leverage technology. Developed regional treasury teams to go beyond performing daily operations to becoming strategic business partners with in-country finance teams. Further expertise in developing global treasury governance structures, leading global project financing initiatives, implementing tax efficient capital structures, negotiating credit facilities, improving accuracy of cash flow forecasts, establishing multi-currency cash pooling/netting programs, managing FX risk, leading teams responsible for cash management, and cultivating relationships with over 40 global banking partners. My consulting background consists of leading treasury organizations through mergers and divestitures, leading treasury compliance reviews and advising Fortune 500 clients on treasury best practices and technology solutions.

• Kimberly-Clark Corporation, Irving, Texas, Global Process Owner – Treasury, 06/2016, Present, Global Process Owner (GPO) responsible for leading the transformation of K-C’s global Treasury organization. This multi-year initiative included automating highly manual processes and developing regional Global Business Services (GBS) Treasury teams to deliver on our new operating model with improved controls and standardized operations. Benefits included lowering global cash balances by $530MM, reducing external borrowing costs by $15M/year, efficiencies in FX trading, improved cash forecasting through usage of advanced working capital analytics, and reduced banking fees. Developed 5-year strategic business plan for Treasury Global Business Services (GBS) organization which included labor arbitraged restructuring of global treasury operations, process automations/efficiencies, and training/developing regional teams to better support in-country finance teams. Designed and implemented a short-term cash flow forecasting tool powered by artificial intelligence/ machine learning for advanced working capital analytics in LAO, APAC and NA regions. Manage global team of +30 people responsible for daily cash/liquidity management, daily FX exposure management, cash flow forecasting, and global bank fee management. Relocated to Kuala Lumpur, Malaysia for 18 months to build a new regional Treasury team, migrate activities from 14 countries while automating and standardizing processes. Recipient of the CFO “Make it Better” Award for Global Treasury Transformation project and received annual recognition as a Top Performer across the organization for 6 consecutive years.
• PricewaterhouseCoopers, Los Angeles, California, Senior Manager, Corporate Treasury Advisory Services, 05/2014, 06/2016, Provided consulting services for a $115B global technology corporation which included evaluating the client’s global bank connectivity strategy and enhancing their global payment capabilities. Led M&A support for a $50B telecommunications company by liaising between the finance organization and external legal counsel. Directed detailed investigative reviews of loans during an anti-money laundering (AML) project for a $10B financial services company.
• CF Industries, Deerfield, Illinois, Director, Treasury, 08/2008, 04/2014, Led $2B project financing initiative for a new petrochemical facility in Peru. This entailed developing a detailed project information memorandum with pro-forma financial statements to aid in discussions with multi-lateral agencies across U.S., Europe and Asia, global relationship banks and potential joint-venture partners. Co-led all capital market activities with the VP of Treasury including new debt issuances, negotiating credit facilities, preparing rating agency presentations, ensuring compliance with covenants, issuing all I/C loans, renewing letters of credit, executing share repurchase programs and managing all global banking relationships. Responsible for weekly cash flow forecasting and variance analysis. Improved the forecast accuracy by 35%. Managed a $1.5 billion short term investment portfolio consisting of T-bills, ARS and Treasury MMFs.
• Ernst & Young, Chicago, Illinois, Manager, Global Treasury Advisory Services, 09/2005, 08/2008, Provided treasury consulting services during the divestiture of a $27B automotive financing company. This included the development of project milestones with weekly status updates related to the segregation of assets in A/R securitization program and development of new global bank account structure for each entity. Performed a global treasury assessment for a $5B pharmaceutical company including a review of all treasury activities across North America and Israel. Advised client to strategies to improve cash operations, liquidity management, FX hedging programs and global banking structures. Developed a cash flow forecasting framework for a $5.8B specialty chemical company.
• Aon Corporation, Chicago, Illinois, Manager, International Treasury, 12/2002, 09/2005, Implemented a multi-currency notional pooling structure that reduced global debt by $540M. Developed and managed $250M global tax-advantaged dividend repatriation program across 140 business units. Managed $650M Euro Credit Facility including covenant compliance and utilization fee verification. Implemented Multi Bank Reporting and developed regional banking centers for EMEA, APAC and LATAM which resulted in the closure of 180 bank accounts and reduced annual fees by $1.2M. Worked with regional CFOs across APAC region to garner support for Corporate Treasury initiatives.
• Quaker Oats Company, Chicago, Illinois, Senior Treasury Analyst, 05/2000, 05/2002, Managed FX risk management program using options and forwards for all affiliates in APAC and LATAM. Managed portfolio of debt and interest rate swaps. Provided tax-advantaged funding for global subsidiaries across EMEA, APAC and LATAM. Performed M&A due diligence, lease/buy analysis and liquidity management for affiliates in APAC and LATAM. Responsible for competitive benchmarking and peer group analysis within the Food and Beverage industry.
• Dow Chemical Company, Midland, Michigan, MBA Finance Rotational Program, 07/1998, 05/2000, Managed accounts receivable for a portfolio of Hydrocarbon customers to minimize Days Sales Outstanding. Documented business requirements and developed process flow diagrams for a cash flow forecasting solution.