International Financial Management: In this international financial management assignment help, we have selected the Apple Company and discussed the international financial manager at the company and approthe ach to managing foreign risks. International financial management is an important function of any multinational companies (MNCs) which operates its business in various foreign markets to manage international finance as well as the impact of foreign exchange risk.
The financial management function is usually associated with top management of the firms that often called the chief financial officer (CFO) or vice president of finance. In today’s business environment, most of the firms which operate in different countries have a specific position of an international financial manager within the organization to manage activities related to international finance. As per management assignment help experts, Apple Inc. is also a multinational corporation that designs, manufactures and sells a personal computer, mobile communication devices, digital music players, networking solution, and third-party digital application worldwide. At present, Peter Oppenheimer who is the chief financial officer (CFO) of the company is in charge of international financial management at Apple Inc. As CFO, Peter Oppenheimer is responsible for several functions related to treasury, investor relations, information systems, internal audit, facilities, corporate development, human resource etc. He also serves as its Senior Vice President as well as a member of company’s executive committee.
Background of CFO: Since 2004, Peter Oppenheimer has been the CFO and Senior Vice President of Apple. He received the Bachelor’s degree in Agricultural Business from California Polytechnic State University and MBA degree from Santa Clara University in honors. Prior to joining Apple, Oppenheimer worked for six years in the Information Technology Consulting Practice with Coopers and Lybrand, where he had the responsibility to manage financial activities for clients of insurance, telecommunications, transportation and banking industries. Additionally, he also worked as Chief Financial Officer at Automatic Data Processing (ADP)’s Claims Services Division. In the year 1996, Oppenheimer joined Apple Inc. as a controller for America, after that he was promoted as Vice President and Worldwide Sales Controller of the company in 1997. He also served as Senior Vice President of Finance of Apple since 1996. Along with this, Oppenheimer is also a member of the Alpha Gamma Rho fraternity.
Approach to Manage Foreign Risks: The management of foreign risk or exposure is the important responsibility of an international financial manager or CFO of the firm. The senior financial officer manages foreign risks by ensuring that the company always maintains operational efficiency through upholding manageable accounts payable and preserving the company’s accrued expenses lower than existing asset items. Oppenheimer defined risk as the degree to which an outcome varies from expectation. Under foreign risk management, Oppenheimer mainly focuses to use financial derivative instruments such as foreign currency forward and option contracts in order to protect their existing assets and liabilities from foreign currency risk. For example, given by our assignment help team, the company uses six months forward contract to manage the potential negative impact of foreign risk on their payables and receivables. Along with this, Oppenheimer also focuses to perform a sensitivity analysis by using value-at-risk (VAR) model to assess the potential impact of changes in foreign currency on company’s international transactions. He also considers managing its account payable in foreign markets by using money market instruments in order to reduce the impact of foreign risks.
Profile of International Finance Office: The profile of international finance office of Apple includes location, main functions, objectives, roles and responsibilities as well as detail about international finance officer and team members. The main function of international finance office of the company is to manage their international finance, foreign exchange and business transaction from foreign currency and interest rate exposure. Along with this, fundraising in an international market, decision-making investment, minimize risk and hedging against foreign exchange exposure are some other roles in international finance at Apple Inc.
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