Apr 03, 2018

Kindred at Home - Corporate Treasurer, Direct Report to CFO, Kansas City Area.

  • Kindred at Home
  • Kansas City Area
Full time Treasury

Job Description

PMC Treasury is assisting Kindred at Home in their search for a Treasurer.  Kindred at Home is an existing healthcare business being established as a new stand-alone enterprise.  This is an exciting opportunity which will afford the successful candidate the ability to work with the leadership team to drive the development of a new stand-alone Treasury and to contribute to the business’s growth going forward

 Background:

With revenues exceeding $6B, and more than 80,000 employees, Kindred Healthcare is the nation’s largest provider of post-acute healthcare services, delivering integrated solutions to support patients and manage their care across the home health, hospice, community care, long-term acute care (“LTAC”) hospital and rehabilitation services (“Rehab”) continuum. 

Kindred provides the right care in the right place at the right time for those recovering from illness or injury -- from supporting patients’ recovery with aggressive, intensive medical and rehabilitative care in a hospital setting, to providing skilled nursing services in the comfort of one’s own home and providing ongoing care management support. Kindred consistently exceeds national quality and clinical care benchmarks, and addresses patients’ emotional as well as clinical needs. 

In a transaction expected to close in the 2nd quarter of 2018, Kindred will be acquired, taken private and – recognizing different market trends and growth trajectories – split into two independent companies: Kindred Hospital Company (which will consist of the LTAC hospital and Rehab businesses); and Kindred at Home (which will consist of the Home Health, Hospice and Community Care businesses).   

Kindred at Home will be owned by TPG Capital, WCAS and Humana. Over time, Humana is expected to buy-out TPG’s and WCAS’s interests. Kindred at Home will employ approximately 45,000 employees and be headquartered in Atlanta, GA, with significant ongoing operations in Kansas City. The go-forward entity is expected to continue to experience significant organic and non-organic growth, withy attendant capital needs. 

Kindred Hospital Company will be owned by two leading private equity firms with considerable healthcare experience: TPG Capital; and Welsh, Carson, Anderson and Stowe (“WCAS”). Kindred Hospital Company will remain headquartered in Louisville, KY and will employ approximately 38,000 employees. 

As stated above, the transaction is expected to close in the summer of 2018. Following the close, Kindred Hospital Company will continue to provide support and administrative services to Kindred at Home until Kindred at Home is a fully independent and standalone Company.

 

Treasurer 

The Treasurer will report to Kindred at Home’s Chief Financial Officer and will be responsible for all treasury functions, including cash forecasting, cash management/investment, working capital, credit, financial risk management, banking relations and all related systems and reporting. He/she will serve as a key member of the Finance leadership team, and will have significant exposure to, and interaction with Kindred at Home’s executive team and financial sponsors. 

In the near-term, the Treasurer will also help to ensure that the Company’s separation from Kindred Healthcare is successful. He/she will select and lead a small team, ensuring that all treasury-related services and relationships are uninterrupted.  This will require strong project management and tactical execution skills, in addition to vision. 

The position will be based in Kindred at Home’s office in Kansas City, with regular travel to headquarters in Atlanta.  For the right candidate, the position could be based in Atlanta with frequent travel to the KC headquarters.

 

Specific Responsibilities: 

  • Drive and manage Capital market efforts that allow for efficient capital structure and growth, including supporting any attendant capital needs for future organic and acquisitive growth.
  • Oversee daily cash positioning activities, including managing daily liquidity, cash position reconciliation, and bank reporting.
  • Maximize returns on cash generated by operations.
  • Drive/support the initiatives to optimize banking architecture and cash management processes.
  • Develop and manage the short-term, medium-term and long-term direct and indirect cash flow forecasting process.
  • Collaborate with IT to establish and maintain treasury technology solutions, including required interfaces, to support cash management activities, and if appropriate, manage the implementation of a treasury management system (TMS).
  • Develop appropriate reporting and modeling capabilities required to support short-term and long-term liquidity forecasting needs, including portfolio allocations
  • Identify and communicate to internal stakeholders anticipated short-term cash flows
  • Update senior management and financial sponsors on current cash positions and anticipated changes to cash.
  • Monitor debt covenant compliance, and prepare related calculations and certificates, in accordance with debt agreements; ensure that liquidity plans are optimized.
  • Support key relationships, including rating agencies, banking and financial institutions, company investors, senior management and Board Members
  • Lead hedging programs to mitigate risk from interest rate fluctuations.
  • Collaborate with Kindred At Home legal and compliance groups in terms of coordinating overall risk management and mitigation.

Experience/Qualifications

  • Minimum of 10 years’ experience in Financial Management, with at least 3-5 years of experience in Treasury Operations with a track record for increased responsibilities. Prior healthcare and/or private equity experience a plus.
  • Experience in developing and executing efficient liquidity and capital markets strategy, cash pooling, and hedging.
  • Strong leadership skills, with the ability to build and motivate a team to produce quality results in an efficient manner.
  • Demonstrated project management skills and the ability to multi-task.
  • Collaborative business partner and advisor, adept in building cross-functional relationships to drive business results.
  • Experience in leading, guiding, or interfacing extensively with the Tax and Accounting functions.
  • Proven ability to operate and thrive in a fast-paced, high-growth company.
  • Highly developed influencing and communication skills, and the presence, experience, and bearing to effectively represent the company to a variety of stakeholders.
  • Significant experience with due diligence and acquisition integration.
  • Significant experience with Corporate Finance and Mergers & Acquisitions a plus.
  • Strategic capabilities combined with the ability to “dive deep” when needed, getting his/her hands into the details as required Bachelor’s degree in Finance/Accounting, and either MBA in Finance/Accounting and/or CPA/CTP.
  • Advanced understanding of Generally Accepted Accounting Principles (GAAP) and the ability to apply GAAP to new and existing transactions.

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