Michael Shafer Email & Phone Number

Bedminster Township, Nj, Us

Jacksonville, Fl, Us

Member of Treasury function throughout corporate changes (M&As, divestitures, and public to private equity to publicly listed company on NYSE) while stewarding company's cash and debt through active oversight of daily cash position, working capital, forecasts, capital market deals, dividends, SOX/SEC reporting, and funding/investment decisions. Participated in senior note issuances, and credit agreement renewals. Managed interest rate derivative portfolio, rating agency models and investor relations, and compliance. Established 12-week rolling cash forecast, saving $1M in annual interest expense, improving short-term cash visibility, and optimized liquidity by leveraging low-cost funding alternatives. Instituted cross-departmental compliance program for debt agreements, giving CFO confidence to sign off on agreement requirements. Placed $300M of floating-to-fixed interest rate swaps, and realized $5M in interest rate swap gains by advising on decision to unwind early. Created hedge accounting records and swap valuation models; negotiated with banks and coordinated with accountants and auditors on hedge accounting; ensured timely daily cash payments.  Actively involved in placing $1.1B of senior notes across 5-/10-year tenors and restructuring $1.3B revolver and term loan to support corporate initiatives. Provided due diligence, negotiations, and analysis as key team member.  Evaluated performance of pension plan funds, delivered presentations, and made exit or reallocation recommendations to investment committee.

Advanced management planning and decision making by providing interest rate clarity and reducing volatility on the P&L statement. Established corporate policies and processes to manage financial risk. Managed and oversaw company foreign exchange and interest rate risk programs in coordination with auditors, banks, business units, and technical accounting. Cultivated and managed 10+ bank relationships in connection to FX and Interest Rate Swap desks. Shepherded mark-to-market FX portfolio in compliance with GAAP (FAS 52 and FAS 133). Calculated and ensured FX gains and losses received to the company or paid to banks quarterly.Consulted with Treasurer and advised on issues of corporate debt and capital structure. Supported Treasurer and Senior Director in managing $3.6B in debt and $310M in interest expense. Built and maintained financial models to budget and forecast net interest expense and forecast interest rates. Determined investment return and savings on interest expense through analysis of debt repurchases. Served as key team participant to repatriate cash annually. - Developed FX hedging program (placing ~$155M in hedges annually) as a strategic impact instrument to successfully reduce economic risk from changes in foreign exchange. Created first-time processes as a stand-alone entity for Travelport to identify exposures, apply correct accounting, and to update senior management.– Gained $5.2M on derivatives after hedging Galileo’s 2007 foreign currency expense.– Initiated FX hedges on 75% of exposed foreign earnings during past 3 years for GDS and GTA businesses.- Achieved $15.2M gain after negotiating with banks and internally pricing out the unwinding of interest rate swaps connected to debt repurchases.- Salvaged $3.1M—analyzed P&L interest expense category, deep dove into general ledger, determined $2.4M minority interest was misapplied to interest expenses, and identified $700K bank overcharge on overdraft fees.

Brooklyn, New York, Us

Challenged to manage $370M in deposits of Cendant’s in-house bank and improve international cash forecast to be more efficient and accurate as company prepared to transition into 4 spinoff entities. Advanced profitability and improved global liquidity through day-to-day cash and FX management of in-house Ireland based bank. Forecasted international cash and working capital. Oversaw $25B FX portfolio, FX trading, financial reporting, and strategy. Key role transitioning internal bank, cash forecast, and FX to 3 of Cendant’s spin-offs. - Propelled >$60M in cash repatriation from international subsidiaries to U.S. after improving models to better identify opportunities to repatriate surplus funds.- Saved ~$2.6M in net savings on borrowings by using internal bank. Realized additional savings on bank fees and from consolidating FX trades.- Reduced P&L volatility after creating a first-time balance sheet hedging program ($14.3M) at Flairview, an Australian subsidiary, to reduce economic risk. Program net impact: $900K.

Brooklyn, New York, Us

Senior Manager - Acquisition Integration - Charged with determining value of synergies for Cendant from the $2.5B strategic acquisitions of Orbitz, E-Bookers, and Gulliver’s Travels.Selected to Acquisition Integration Team and reported to Vice President. Developed processes and financial models to track synergies; evaluated HR, IT, and operations benefits and costs derived from the 3 acquisitions. Mangaer - Strategic Initiatives - Challenged to sustain newly created Membership Business ($50M revenues) providing business development and project strategy support as business partner to Vice President of Membership Business, and by engaging as key finance member in cross-functional management collaboration with operations, marketing, IT and accounting.Charged (as member of team) with increasing revenue and exacting cost reductions to turn around a severely challenged business unit (provided the operating metrics for tracking and forecasting the business unit’s P&L performance).

Parsippany, New Jersey, Us

Piloted (as part of start-up team) branded toy store business model within grocery stores to determine feasibility of nationwide roll out. Managed portfolio of 335 products within 12 selected stores. Developed financial models to test concept and assess brand, margin, capital, and expense requirements under various scenarios. Drove pioneering “Toy Box” concept and grocery chain store partnership. Served significant role in developing and executing the $200M partnership. Team won “President’s Award for Excellence” for concept.

Chicago, Il, Us

Senior Marketing Analyst- Maximized $800M in revenues while managing markets in 17 Northeast U.S. and 11 Micronesian cities. Strategy: Fill flights while maximizing price per seat. Micro-monitored specific flights based on economy, competition, events, and weather. Supported Operations, Finance, Sales, and Scheduling with strategic / competitive analysis.Senior Financial Analyst - Recruited as key finance member to launch Financial Planning and Analysis department in Guam. Consulted with business units on capitalization, expenses, and cash flow forecast while overseeing company’s capital expenditure program. Created labor productivity financial metrics for use by business units and senior leadership.

Paris, Fr

Analyzed financials of international companies seeking financing in U.S.

Mba, Finance

B.S., Finance