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    Risk Management...

    I see this "new" position just became nessasary at the CWB...

    "September 18, 2002

    Assistant Treasurer, Funding and Financial Risk Management
    Winnipeg, MB

    The Canadian Wheat Board (CWB): The CWB is a world class international grain marketing organization. The Head Office is located in Winnipeg, Manitoba.

    Posting Date: September 18, 2002
    Closing Date: September 30, 2002
    Job Posting Number: 02-32A

    Description
    Reporting to the Treasurer and working in a team environment, the Assistant Treasurer is responsible for the corporation’s cash forecasting, funding and investment activities, foreign exchange and interest rate risk management, as well as managing the financial risk associated with the CWB’s producer payment options.

    Responsibilities:

    Provide leadership, support and guidance to Treasury staff.
    Manage the daily Treasury operations including such key functions as:
    short and long term funding, investments,
    foreign exchange and interest rate risk management,
    and producer payment options.

    Liaise with financial institutions.

    Advise the Treasurer on capital markets and risk management issues.

    Participate as a member of the Investment Sub-committee for the CWB pension plan.

    Qualifications:

    University degree, business or finance focus is required.
    A minimum of 5 year’s senior level experience in a treasury environment.

    Preference will be given to candidates with a Chartered Financial Analyst designation or an MBA
    Grain industry experience will be considered an asset
    Key Competencies and Skills:

    This position has a broad scope of complex responsibilities and the successful candidate will have strong communication, leadership and management skills. Superior analytical and quantitative skills are also required.

    A detailed understanding of treasury and financial markets is essential."


    I FIND IT ASTOUNDING THAT THE CWB NEEDS ONE MORE PERSON TO DO THIS JOB... on top of how many others that are supposed to already be doing these jobs???


    I WONDER WHY??????


    SHADES OF a FAILURE in RISK MANAGEMENT this spring???

    Does the CWB really think this will resolve the flaw in CWB Risk Management?

    #2
    thalpenny,

    Are you able to address the reason for this?

    Partsley

    Comment


      #3
      This is part of a reorganization of the finance dept.

      It's not a creation of an additional position as far as I know, and I haven't quizzed up the HR dept. on total numbers.

      Tom4cwb, you are really fishing for some wild risk management flaw at the CWB to shoot at, eh?

      I think your speculation is a bit frenetic.

      Tom

      Tom

      Comment


        #4
        thalpenny,

        Don't ever criticize farmers for being vigilant about the CWB's finances. Farmers should feel free to cross-examine any expenditure and they should feel free to make suggestions that will help their bottom line. They should be encouraged and congratulated for being vigilant; any banker would be much nosier so if it was the banker paying the bill. After all, it is farmers' money that pays for everything.

        Make note of it.

        Parsley

        Comment


          #5
          I toured the CWB offices last fall and the risk management office was 2 younger guys and one older guy. The younger guys were my age mid-late twenties. If they are like me they move around jobs easily...not tied down with families. Someone likely just found something better.

          Comment


            #6
            Tom4cwb don't waste your time I looked up the meaning of frenetic and it means; Frenzied, Temporary madness or a violently agitated state.

            Have you noticed any foaming around your mouth tom.

            Cure is stop thinking about the dicatatorship and the Enron accounting capabilities of your one an only wheat and barley market the CWB.

            Comment


              #7
              Thalpenny;

              I am just amazed at talent you folks at the CWB have...

              It sure is easy to spend my money...
              I need a GOOD reason why you should be increasing overhead... when your volume handled is about a quarter of what it was 10 years ago.

              If you invest in a real risk manager, he will cost more than our new CEO, and if you just hire someone, then that is exactly what we will get... a hired hand that will become a scape goat at the first sign of trouble. Meanwhile the root risk management problem at the CWB won't even be looked at... I am afraid...

              Will this will be a gigantic waste of my money...?

              I have a uncomfortable feeling in the bottom of my tummy...

              Comment

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