Jared Petersen Oshkosh Corporation is a Fortune 500 Company that designs and builds the world's toughest specialty trucks and access equipment by working shoulder-to-shoulder with the people who use them every day. Oshkosh is continually improving the perfect by making it their business to understand the struggles of their customers' jobs, and to than deliver vehicles that out-perform anything else on the market. Oshkosh is then able to back those vehicles with a 24/7 global service network. Oshkosh has been able to maintain their excellence because they strive for diversification and with this; they are able to leverage their technologies to create profounding competitive advantages across several different markets. This strategy has earned Oshkosh a top leadership position in every truck market they enter.
I am currently the Shared Treasury Intern at Oshkosh Corporation, working directly with the V.P. of Finance and the Treasury Team to ensure our cash is being used as effectively and efficiently as possible. Our team focuses on activities such as cash management, lender management, hedging management, investor relations, and bank relations. Each responsibility is divided out among each member of the team based on each individuals strengths and areas of specialty.
As an intern I have the privilege to be involved in a little bit of each responsibility listed above. My daily responsibilities consist of EFT (Electronic Fund Transfer) verification, prior day reconciliation, account balance tracking, remitting EFT’s, calculating and positioning current day cash balances, and distributing the debt message and dashboard to senior management. The most important responsibility assigned to me is the current day cash positioning. I pull the bank reports, calculate the overall balance in all of our accounts, and then let senior management know if we are positive or negative. If we are positive, we then pursue short term low risk investments such as Treasury Bills; if we are negative we will decide where to redeem our cash with the lowest penalty.
Other than my daily tasks, I was also given various projects. These projects include creating an internal auditing database, lender analysis, bank account fee analysis, bank entitlement form organization, and credit application processing. I enjoy these projects because it allows me to see different departments within Oshkosh, and gives me a taste for the type of work they each do. Any time a project is offered, I am more than happy to take it to further my understanding and knowledge of the different business activities.
Whether it is a project or a daily task of mine each responsibility requires reporting. There are two main daily reports which I distribute all the way up to the CFO (Chief Financial Officer) level. These two reports are the daily treasury dashboard and the daily debt message. Both reports show our daily activity, interest expense, debts spread, and weekly debt forecast. The difference between the two reports is the dashboard is sent via e-mail, where the debt message is sent verbally over voice messaging. Being given the responsibility to report directly to senior management is very rewarding to me.
My experience with Oshkosh Corporation has been nothing but excellent. I have been able to provide Oshkosh with an internal auditing database, a foreign currency analysis spreadsheet, a more efficient foreign exchange filing system, and an automated dashboard. On the other hand, Oshkosh has demonstrated to me the importance of a hard work ethic, has taught me fundamental business ethics, has increased my knowledge of accounting procedures, has introduced me to the corporate environment, has surrounded me with the most knowledgeable and talented personnel to work with and learn from, and most importantly, showed me the qualities and attributes of a company I would enjoy working for full time.
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