Steve Summers Email & Phone Number

Kennesaw, Georgia, US

Jasper, GA, US

• Played crucial role in company’s emergence from forbearance. Maintained varying liquidity requirements and began weekly reporting to agent (Comerica) on asset backed loan as required by amendment to credit agreement.
• Responsible for consolidation and submission of monthly ABL statements to agent bank. Reviewed any higher-than-expected variances with CFO prior to submission. Researched variances and explained to bank.
• Managed 13-week cash forecast. Approved business unit’s weekly A/P requests. Weekly review of A/R with business units. Worked closely with FP&A on longer term accounting forecast.

Düsseldorf, North Rhine-Westphalia, DE

• Responsible for 13-week cash forecast. Point person in weekly call with Thyssenkrupp Elevator GmbH to communicate prior week actuals vs. forecast and any variance to forecast in out weeks. Update financial reporting.
• Communicated weekly with lead bank (Citi) and Thyssenkrupp Elevator GmbH regarding all North American cash flows and positions.

Atlanta, GA, US

• Responsible for all external and internal quarterly and annual reporting including Foreign Bank and Financial Accounts (FBAR), FR Y-15, SOX compliance and EFT access and authorization.
• Monitored all North American bank accounts (USD, CAD, MXN) cash positions for timing issues to avoid overdrafts.

Kennesaw, Georgia, US

• Monthly reporting on asset backed loan for borrowing purposes based on eligible inventory and eligible A/R.
• Responsible for daily cash management (Bank of America as lead US treasury/cash management services provider).
• Daily cash forecasting to report to corporate HQ as to funds availability/liquidity thresholds.
• Primary cash manager and supervisor. Team of four.
• Implementation of special projects such as migration from bank to bank or from one third party processor to another through the AutoPlus ERP (SAP).

Atlanta, Georgia, US

• Managed daily cash position (Bank of America as lead US treasury services provider).
• Expedited month end close with various foreign banks including HSBC, BOM, etc. with more frequent reporting (daily and weekly).
• Assisted with SAP conversion/implementation.
• Completed Foreign Bank and Financial Accounts (FBAR) reporting for all signers required to file with the IRS for over 30 accounts.

• Evaluated and recommended various ways to interface Oracle E-Business and on-line banking systems to expedite daily cash management.
• Drafted a RFP for the CFO and Controller to assess all Treasury Management services and costs.
• Interfaced with multiple departments to help improve the monthly reconciliation process.
• Served as primary Cash Manager.
• Assisted the Controller with Trust calculation reporting.

Houston, TX, US

• Implemented process improvements for the cash management system by streamlining various spreadsheets using more advanced approaches. Served as secondary backup to the Cash Manager.
• Consulted with Treasury workstation providers as to how to more effectively and efficiently interface with the accounting system (Unit 4/Coda) and enhance the accounting, cash and debt management processes.
• Evaluated and recommended changes regarding the debt reconciliation process to include segregation of duties between Treasury and Accounting.
• Worked with the Treasurer on the Finance Committee presentation. Implemented changes to the presentation that resulted in better organization and flow for the committee.
• Assisted the Legal department with the issuance of letters of credit. Educated them on the process of issuance and timing (bank credit meetings, etc.)
• Managed and improved debt covenant compliance reporting (leverage, coverage, fixed charge coverage).

Atlanta, Georgia, US

• Prepared debt forecasts with variance analysis and ongoing cash flow analysis, forecasting and planning. Prepared financial analytics and expected performance trends.
• Critically analyzed the policies, procedures and systems to identify, assess, measure, monitor and control significant risks such as interest expense and potential lack of corporate liquidity.
• Implemented practical solutions aimed towards improving internal clients overall risk profiles, increasing the efficiency of reconciliation processes, and optimizing business practices, procedures, controls and.
• Prepared and monitored cash management reports related to debt obligation analysis, average balance, bank fees and interest allocation, resulting in increased operational efficiency and reduced risk.
• Successfully managed all Treasury duties in order to ensure timely, accurate and comprehensive account closing and reconciliation, forecasting of cash needs, interest rates and projected balances.
• Reviewed and released wire payments. Reviewed daily cash management control worksheet. Calculated and collected cash management principal and calculated interest amounts for fixed assets.

Atlanta, Georgia, US

• Oversaw short-term borrowing programs totaling $2.35 billion and $5 billion in back-up liquidity, with direct accountability for approval and maintenance of entire banking and Treasury relationship.
• Facilitated the implementation of a PIN-less debit system, saving approximately $600,000/yr, a 50% reduction.
• Successfully converted remittance processing vendors saving $180,000 annually.
• Prepared for external audit of an asset securitization by acting as the administrative agent resulting in savings of over $250,000 per year.
• Issued, renewed and canceled letters of credit for a portfolio exceeding $60 million.
• Worked closely with legal and tax departments regarding management of over 700 bank accounts.

Atlanta, Georgia, US

• Implemented a more comprehensive treasury and cash management position through increased industry research, improved vendor selection, plan monitoring and consultation with internal/external teams.
• Achieved savings of almost $400,000 per year by selecting more cost-effective banks and vendors to handle remittance processing and check clearing.
• Assisted in facilitating changes in pricing and structure of the Manheim Financial Services Securitization ($705 million with three banks), achieving savings of 2.5 basis points in program fees and 2.0 basis points in.
• Analyzed rate differences between major commercial paper traders and succeeded in tightening them to approximately one basis point, resulting in significant interest savings.

Atlanta, GA, US

• Reviewed applicants to determine credit risk and made approvals or denials as needed.
• Utilized complex financial research and identification techniques, including ratio and trend analysis, projections and cash flow determination to ensure sound lending practices.
• Designed, documented and implemented new risk management tools to optimize risk and reward while capitalizing on growth opportunities on new and existing customers.

Bs, Business

Mba, Finance