Senior Manager, Treasury Operations
Job Description
Responsible for the Company’s global cash management function and all aspects of global treasury operations including domestic and international cash management policies, daily U.S. cash management, daily and long-term liquidity forecasting, short-term investment management, management of global capital expenditures and lease authorization and accounting processes. Manages the efficient utilization of company cash and the effective operation and administration of the Treasury Management System (“TMS”). Manages relationships with major banks, payment processors, and other service providers. Responsible for U.S. daily cash projections, short-term cash investment, payment processing, cash forecasting, credit facility activity, standby and commercial letters of credit and Treasury performance metrics. Administers the Mary Kay Inc. Profit Sharing and 401(k) in accordance with ERISA requirements. Manages unclaimed property filings and audits. Ensures that adequate internal controls and fraud prevention measures are in place to safeguard the Company’s financial assets.
Responsibilities
- Leads U.S. cash management operations
- Manages the U.S. Treasury team and is responsible for ensuring adequate coverage for payment processing and requests when team members are out of the office.
- Responsible for monitoring and assessing daily cash position, reviews and approves cash disbursements and transfers, monitors timing of cash receipts, and reconciles daily cash activity. Recommends cash movement to and from investment accounts based on liquidity needs. Suggests options to invest excess cash to maximize interest rate returns.
- Reviews quarterly fees charged by banks to ensure charges are accurate and addresses any discrepancies noted. Identifies opportunities to save costs and maximize profits.
- Recommends and implements improvements in cash management processes to eliminate inefficient and ineffective processes and procedures.
- Develops and measures key performance indicators to evaluate team performance and cash management performance.
- Serves as a system administrator for all bank portal systems, ensuring proper internal controls and security are in place in all systems to protect company funds.
- Develops and maintains appropriate policies and procedures for treasury functions, ensuring compliance with internal controls and fraud prevention measures. Ensures fraud prevention measures are in place and enforced company wide.
- Looks for anomalies or unusual patterns in transactions and recognizes when an abnormal transaction is material while considering business impact. Escalates issues and concerns when necessary.
- Oversees the management of and accounting for short-term investment portfolios, ensuring compliance with Company investment policy and U.S. GAAP. Is familiar with and provides approval for international subsidiary short-term investments.
- Assists in the process of renegotiating the company’s credit facility by obtaining information for financial projections and credit agreement schedules from from other teams, drafting lender presentation materials, and analyzing lending scenarios as needed.
- Manages credit facility revolving loan activity. Works directly with financial institutions in setting debt interest rates and periods. Ensures loan payments and interest payments are accurate and timely.
- Works with banks and vendors to establish letters of credit and bank guarantees as required. Reviews monthly summary of letters of credit outstanding.
- Manages relationships with banking partners and service providers
- Establishes and manages relationships with multiple large financial institutions, payment processors, and other payment solution providers to ensure quality service is received, and fees are accurate and reasonable. Stays current on banking regulations and trends in the banking industry that could impact the Company.
- Researches new payment solutions, IBC credit options, cross border payment options, foreign exchange transactions, hedging, treasury automation solutions or other treasury related topics as needed.
- Monitors trends related to payment processor fees and addresses discrepancies in invoices vs. contracts.
- Participates in periodic business reviews with vendors and tracks service level performance.
- Responsible for the relationship with the U.S. credit card processor and other third-party providers of payment solutions, stays current on trends and new technology in the payment industry, and evaluates, recommends and directs implementation of alternative forms of payment to reduce cost and provide enhanced payment options to U.S. Independent Sales Force members and their customers. Advises and participates in evaluation and implementation of payment solutions globally.
- Ensures month end close processes are completed timely and accurately
- Reviews and approves bank transaction coding/mapping in the TMS to automate accounting to the ERP system.
- Reviews and approves manual journal entries and ensures all cash activity is accurately recorded in the general ledger each month.
- Responsible for accounting for all debt activity.
- Manages month end close calendar and checklist for Treasury.
- Oversees the global capital expenditure authorization process, accounting for U.S. PPE. and accounting for Leases
- Ensures compliance with company policy and proper classification of expenditures as capital under U.S. GAAP.
- Directs accounting for U.S. capital projects and reporting to executive management of global capital expenditures.
- Works with personnel from various departments as business proposals are developed or projects are evaluated to ensure that business cases provide all information needed by executive decision-makers and the related financial analyses are complete and accurately presented.
- Oversees the development of processes and tools to monitor global lease information and ensure appropriate accounting for leasing arrangements under U.S. GAAP.
- Reviews the complex embedded derivative calculations associated with international leases.
- Reviews the analysis of lease vs. buy to ensure decisions are based on sound financial analysis.
- Manages financial activity and audit for the Company’s profit-sharing and 401k plan
- Reconciles fund activity, manages the annual contribution process, and rebalances funds to meet investment guidelines
- Coordinates the annual audit by an independent audit firm and the preparation and issuance of the annual financial reports and IRS filings. Works with auditors during the audit, reviews financial statements, 5500, and ensures reporting deadlines are met.
- Manages the overall relationship with the Trustee and Investment Advisor and ensures quality service is received.
- Reviews the MKI Profit Sharing and 401(k) Plan trustee statements monthly and resolves problems as they arise.
- Prepares liquidity funding requests and quarterly investment manager fee directives.
- Manages the process for forecasting short and long-term liquidity needs
- Responsible for the cash forecast process and reporting
- Reviews actual cash activity and assumptions used for future cash activity to ensure the highest level of accuracy possible in amounts projected.
- Provides summary information and scenarios to support decisions on strategic initiatives, dividends, and other cash investments.
- Monitors subsidiary cash balances and proactively works with the Director of International Tax to evaluate excess cash internationally and ensure repatriation on a timely basis.
- Prepares annual shareholder dividend forecast for Executive approval.
- Oversees the annual and semi-annual unclaimed property filings and due diligence function.
- Responsible for researching unclaimed amounts; communicating with the independent sales force and vendors regarding the outstanding claims and refunds; and interfacing with state representatives and state auditors as necessary.
- Stays up to date on unclaimed property laws and evaluates impact of pending changes to MKI.
- Ensures unclaimed property filings are timely and accurate.
- Manages and reviews the unclaimed property process, including the procedures for notification and filing in all fifty states in order to avoid potential fines and tax/regulatory impact for non-compliance with state regulations.
- Ensures documentation is in order and stays current on regulations in all states to ensure compliance.
- Manages unclaimed property audits conducted by respective states.
- Maintains third-party software used in unclaimed property management and filing operations.
- This job requires on-site work at a Mary Kay facility.
Skills & Experience
Experience: 7+ years in Treasury, Finance with 2+ years of supervisory experience
Education: Master/Graduate Degree in Finance, Accounting
Certification: CPA required, Certified Treasury Profession (CTP)
- Solid working knowledge of Generally Accepted Accounting Principles (GAAP) related to Treasury and capital expenditures, as well knowledge of economics and advanced Treasury concepts and processes. Requires a working knowledge of basic US GAAP accounting principles and tax laws/legal requirements associated with ERISA.
- Ability to develop complex financial models for capital investment analysis, leasing options, hedging strategies, and foreign currency changes, and to present results in an effective way, using visual tools to enhance understanding of the data.
- Excellent oral and written communication skills to negotiate global cash management bank agreements; work with Company executives, employees at all levels, external accountants, attorneys, financial institution contacts, auditors and others; and develop and maintain banking relationships. Able to effectively explain cash implications of business strategies to non-Finance employees.
- Strong organizational and time management skills to work independently on multiple projects covering a wide range of topics. Must manage strict deadlines while also managing vendor relationships and non-routine projects and activities.
- Must be detail-oriented and possess the ability to multi-task in order to manage multiple bank accounts and strict deadlines while also managing vendor relationships and non-routine projects and activities.
- Advanced critical thinking and problem resolution skills to efficiently and effectively resolve issues and implement streamlining where possible.
- Internal Controls: Writes and reviews policies and procedures with an internal control mindset. Gives guidance on improving internal controls and policies and procedures within own area and with global business partners. Identifies issues with internal controls and makes recommendations for improvements.
- Influencing: Able to produce a desired effect by building and maintaining trusting relationships by actively listening to stakeholders and backing up opinions with facts, knowledge, and logic. Understands the broader business and strategic goals of the Company.
- Storytelling with Data: Ability to organize Organizes and structures presentations or communications in a way that is easily understandable to the audience. Uses judgement to validate that the data is relevant and used in the proper context. Develops stories and builds arguments using data and visuals that lead audiences to clear conclusions in ways that compel action.
- Technology: Ability to quickly understand multiple systems and tools utilized in the role, the implications of system vulnerabilities or failures and the internal control structures necessary in each. Must be able to work with various specialized banking systems, including a treasury workstation, and be proficient in Excel and Microsoft Word. Utilizes digital tools to perform tasks at a high level of productivity. Identifies and supports transformation of processes with technology and evaluates the cost effectiveness, ROI, and key benefits of new or existing technologies. Identifies when use of digital tools is not effective or practical. Understands the TMS, ERP, and other systems used for Treasury functions and how these systems are integrated with other Company systems. Can identify the risks, dependencies, and downstream effects when these systems and related systems or processes are modified.
- Cultural awareness to work well with employees in subsidiaries all over the world.
To save time applying, Mary Kay Inc does not offer sponsorship of job applicants for employment-based visas or any other work authorization for this position at this time.
