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CHC Treasury Cash Manager

Synthorx

Synthorx

Accounting & Finance
Neuilly-sur-Seine, France
Posted on Wednesday, June 19, 2024
  • Grade: L3
  • Location: Paris area, France
  • Remote working in accordance with the conditions defined in the France telework agreement
  • Few travel expected
  • Job type: permanent, full time

Context


The creation of a standalone Global Business Unit, Sanofi’s Consumer Healthcare (“CHC”) has now grown into a leading consumer healthcare platform with a presence in 150 countries and over 11,000 employees, dedicated resources in R&D, manufacturing, information technology as well as its distinct sustainability roadmap.

Sanofi recently announced its intention to separate the CHC Business as it increases its focus on innovative medicines and vaccines. The intended separation will seek to create two entities, each better equipped to pursue its own business strategy, resourcing and capital allocation and enabling each to focus on long-term growth in its respective markets. Sanofi believes that the separation will unlock further opportunities for CHC to leverage its portfolio of leading brands and continue to drive growth and shareholder value.

Subject to market conditions, the separation could be achieved at the earliest in Q4 2024.

In that context, Sanofi is looking for a CHC Treasury Cash Manager for its CHC Global Treasury. He/she will report to the CHC Head of Global Treasury Operations.

About the job

At Sanofi Consumer Healthcare, we have one overarching mission - to work passionately, challenging ourselves and our industry every day, to drive what we believe is the next health revolution: evolving from simply serving consumers, to helping people help themselves - bringing “Health in Your Hands”.

We are building trusted & loved brands that connect with hundreds of millions of consumers worldwide, enabling better self-care for individuals and communities, while also contributing to a healthier planet. To fulfill this mission, we are embarking our consumers, our customers, healthcare professionals, and our employees in this journey because this is what will make us become the “Best Fast-Moving Consumer Healthcare (FMCH) Company In & For the World”.

Consumers at the heart of everything we do and we want to make a difference where it counts, driving leadership in the categories we play in: Allergy, Digestive Wellness, Pain, Physical & Mental Wellness, and Cough, Cold & Flu.

To achieve this, we need strong talent who will help us shape the future of our Consumer Healthcare business and challenge our industry. We aspire to create a work environment where people can thrive, grow, and be at their best every day. We believe in operating with integrity and prioritizing the health and well-being of people and communities where we operate, working towards making a positive impact in the world.

Our Team:

CHC Global Treasury is mainly responsible for the financing, cash and risk management as well as insurance of CHC affiliates.

CHC Global Treasury Operations (CHC GTO) is part of CHC GT and oversees the following activities:

  • Liquidity Management
  • Market Compliance and Control and Operational Excellence
  • Subsidiary Financing
  • Working Capital Optimization
  • Credit Risk Management

We ensure affiliates’ liquidity and financing and ensure optimal capital structures.

We ensure effective cash management structures are implemented and optimize the centralization of the Cash of CHC entities at the level of CHC Holding and manage the CHC In-House Bank.

We support the Regional Treasury Centers teams, always work in close collaboration with our internal stakeholders and supervise the relationships with Sanofi core banks.

We support Cashflow reporting and lead initiatives to optimize working capital of the Company.

We ensure compliance of the Market Operations managed by Treasury Front Office/Capital Market department on all asset classes and ensure Operational Excellence of Treasury Operations.

We support the Treasury aspects of company transformational projects and strategic initiatives.

Your main responsibilities:

The CHC Cash Manager belongs to the CHC GTO team.

Liquidity Management

He/She manages the daily cash position of CHC holding entity and sub-holding, ensuring optimized centralization of the liquidity at the level of holding including but not limited to:

  • Reconcile bank flows and bank balances for holding and sub-holding companies, gather and consolidate affiliates short term forecasts and manage daily cash position of holding and sub-holding companies to ensure optimization of cash (minimization of idle balances), coordinating with Front Office team
  • Analyze actual to short term forecast variances and coordinate with affiliates
  • Follow-up on bank inquiries and coordinate with banks customer services
  • Monitor and reconcile bank charges and interests and maintain pricing documentation,
  • Follow-up and coordinate with the accounting departments

He/She manages CHC In-House Bank including affiliates’ current accounts postings and management.

Subsidiary Financing:

He/She supports Sanofi affiliates within a defined geographical scope, to ensure that they continuously keep appropriate level of liquidity through secured financing at best conditions.

He/She will animate and develop his/her network and within his scope with a solution-oriented spirit:

  • Define and supervise bank relationships and banking solutions for local affiliates in scope:
    • Build partnership and trust over time with the core banks
    • Review banking and FX lines in accordance with local financing and local hedging needs and Sanofi bank relationship’s strategy
    • Support the affiliates banking needs, leveraging Sanofi’s negotiation power with banks global relationship managers
    • Contribute to the implementation of state-of-the-art cash management transactional services notably through the coordination of banking and cash management RFPs

  • Define adequate financial structure for local subsidiaries including:
    • Optimize debt / equity balance
    • In charge of the dividends payments from subsidiaries worldwide
    • Assess and implement initiatives to repatriate excess cash through financial Intercompany loans, change in intercompany payment terms/ transfer pricing policy, capital reduction…
  • Review and support Affiliates CashFlow reporting
  • Support implementation of working capital optimization initiatives

Credit Risk Management:

  • Support affiliates & regional treasury services center on Credit Risk Management policy implementation
  • Support affiliates & regional treasury services center in the assessment of the credit risk profile of the most significant customers as per Group policy

Transformational Projects:

  • Support Group strategic initiatives on treasury aspects: legal restructuring (mergers, capital infusions, share transfers…); M&A transactions (financing, settlements, integration), carve in/out, third party partnerships (venture…), employee share plans, litigations, real estate (parental/bank guarantees), …
  • Build trust and ensure effective cooperation with cross functional and external partners (other treasury teams at corporate and regional levels, GBS, HFOs, tax, Legal, banks, …)
  • Keep up to date with Cash Management best practices & technology
  • Support the Treasury Transformation Programs, Strategic initiatives

About you

  • Education
    • Bachelor’s degree – preferably Master’s degree – in business administration, finance, accounting or economics
    • Treasury Certification is a plus

  • Experience
    • Proven Experience in Financing & Treasury activities in Multinational companies, preferably Corporate Treasuries
    • Experience with Cash Management Structures (Zero-Balancing, Notional Pooling) and with In-House Bank in international environments
    • Experience with Sarbanes-Oxley
    • Experience with Treasury Management Systems
    • Other experiences in various senior finance roles within an international environment a plus

  • Soft skills
    • Advanced analytical skills, financial acumen, accuracy and attention to details
    • Building partnership and trust over time with partners internally and also externally with banks
    • Proven presentation skills, ability to communicate, assertiveness
    • Team player, proactive and solution oriented

  • Technical skills
    • Good background in accounting and/or financial analysis
    • Proven ability to manage multiple projects, work effectively with cross-functional partners
    • Strong capabilities in MS Excel
    • Knowledge of Treasury Management Systems, S/4HANA Treasury System knowledge is a plus

  • Languages: fluent written and spoken English

Pursue progress, discover extraordinary

Better is out there. Better medications, better outcomes, better science. But progress doesn’t happen without people – people from different backgrounds, in different locations, doing different roles, all united by one thing: a desire to make miracles happen. So, let’s be those people.

At Sanofi, we provide equal opportunities to all regardless of race, colour, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, or gender identity.

Watch our ALL IN video and check out our Diversity Equity and Inclusion actions at sanofi.com!

All in for Diversity, Equity and Inclusion at Sanofi - YouTube

At Sanofi, we want to reflect all types of diversity. We all live, work and learn in different ways. More about Diversity, Equity and Inclusion at Sanofi : h...

Pursue progress, discover extraordinary

Better is out there. Better medications, better outcomes, better science. But progress doesn’t happen without people – people from different backgrounds, in different locations, doing different roles, all united by one thing: a desire to make miracles happen. So, let’s be those people.

At Sanofi, we provide equal opportunities to all regardless of race, colour, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, ability or gender identity.

Watch our ALL IN video and check out our Diversity Equity and Inclusion actions at sanofi.com!