Acquisition FX-and-Hedging Control Leader

The mandate

After acquiring a regional electronics business, parent treasury discovered purchase forecasts hedged locally while the same exposures were included in group programmes, alongside sales currencies absent from either book. Different standard rates distorted product margins and hedge effectiveness evidence. The regional treasury controller left when the first combined close produced material unexplained foreign-exchange movements.

The interim must establish onsite Bangkok control within one week and lead for twelve months through exposure reconciliation and four controlled closes. Search for a permanent regional market-risk finance leader begins after two forecast and hedge cycles reconcile across procurement, sales and treasury, expected in month six. The successor will lead a designation review and adverse-currency scenario during five weeks of overlap.

Handover requires currency exposure by entity, product and timing; one approved forecast-rate hierarchy; trade, forecast and balance-sheet hedges linked to source; documented designation and discontinuation controls; reconciled accounting movements; and bank confirmation evidence. Four closes and two currency-shock exercises must operate cleanly. The successor inherits exceptions, ineffectiveness, counterparty limits, cash needs and unhedged decisions.

The interim may freeze a hedge request, require exposure resubmission, unwind an operational duplicate within delegated limits, restrict treasury access and commit up to THB 2.5 billion inside approved risk policy. Risk appetite, new banking facilities, accounting-policy approval, tax positions and derivatives beyond limits require authorised committees. Businesses remain accountable for demand and purchase forecasts.

Commodity hedging, long-term financing, commercial pricing, procurement negotiation, acquisition accounting and currencies outside the integrated entities are excluded. The seat owns FX exposure control, hedge execution governance, accounting evidence, forecast interfaces, talent and succession. It cannot improve reported margins by choosing artificial rates or override genuine business uncertainty.

Why this seat is open

Duplicated and missing hedges created cash, earnings and control volatility immediately after close, followed by controller departure. Acquired businesses trust local forecasts while group treasury assumes consolidated visibility it does not possess. Temporary market-risk authority can establish one evidence chain through live hedging and reporting cycles.

What you will own

• Reconcile contracted, forecast and balance-sheet currency exposures by entity, product, counterparty, amount and maturity.
• Remove duplicate hedging and identify genuine gaps across local banks, group programmes and embedded commercial terms.
• Establish forecast-rate, submission, challenge, approval, execution, confirmation and settlement controls.
• Link each hedge to exposure evidence, designation, effectiveness, accounting movement, cash and discontinuation trigger.
• Align product margin and treasury reporting without allowing standard rates to conceal economic exposure.
• Run demand drop, supplier shift, delayed collection, rapid devaluation and counterparty-failure scenarios.
• Transfer exposure registers, hedge files, close bridges, limit usage, bank confirmations and exception decisions through successor-led reviews.

Candidate qualifications

• Held executive FX and treasury-control authority through a multi-country manufacturing acquisition integration.
• Recovered duplicate and missing hedges caused by conflicting business and group exposure forecasts.
• Linked derivatives, underlying exposures, accounting designations, cash settlement and product-margin reporting.
• Challenged procurement and sales forecasts without taking ownership of commercial demand or sourcing decisions.
• Managed bank counterparty, dealing access and confirmation controls during rapid post-close change.
• Handed integrated currency governance, counterparty controls and designation evidence to permanent leadership after live forecast, hedge and close cycles.

Non-negotiables

• Can assume onsite Bangkok control within one week and maintain continuous market-risk escalation.
• Will accept exclusive executive accountability for integrated FX evidence, execution control and reporting.
• Brings acquisition FX integration with hedge-accounting depth; routine dealing or treasury operations is insufficient.
• Must disclose relationships with group banks, derivatives counterparties, acquired entities, auditors and advisers.

1. 49 words maximum. Describe an acquisition where local and group programmes hedged the same underlying exposure.
2. 49 words maximum. Which source evidence must exist before treasury accepts a forecast-currency hedge request?
3. 49 words maximum. State your Bangkok availability and the largest integrated FX book you directly governed.