Senior Manager, Treasury Operations

Overview

The Senior Manager, Treasury Operations will lead the Company's global cash management function, overseeing all aspects of 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.

Responsibilities

1. Lead U.S. cash management operations, managing the U.S. Treasury team and ensuring adequate coverage for payment processing and requests when team members are out of the office.
2. Monitor and assess daily cash position, review and approve cash disbursements and transfers, monitor timing of cash receipts, and reconcile daily cash activity.
3. Recommend cash movement to and from investment accounts based on liquidity needs, suggest options to invest excess cash to maximize interest rate returns, and review quarterly fees charged by banks to ensure charges are accurate and address any discrepancies noted.
4. Identify opportunities to save costs and maximize profits, recommend and implement improvements in cash management processes to eliminate inefficient and ineffective processes and procedures, and develop and measure key performance indicators to evaluate team performance and cash management performance.
5. Serve 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, develop and maintain appropriate policies and procedures for treasury functions, ensuring compliance with internal controls and fraud prevention measures.
6. Oversee the management of and accounting for short-term investment portfolios, ensuring compliance with Company investment policy and U.S. GAAP, and be familiar with and provide approval for international subsidiary short-term investments.
7. Assist in the process of renegotiating the company's credit facility by obtaining information for financial projections and credit agreement schedules from other teams, drafting lender presentation materials, and analyzing lending scenarios as needed.
8. Manage credit facility revolving loan activity, work directly with financial institutions in setting debt interest rates and periods, ensure loan payments and interest payments are accurate and timely, and work with banks and vendors to establish letters of credit and bank guarantees as required.
9. Manage relationships with banking partners and service providers, establish and manage 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.
10. Research new payment solutions, IBC credit options, cross-border payment options, foreign exchange transactions, hedging, treasury automation solutions, or other treasury-related topics as needed, monitor trends related to payment processor fees, and address discrepancies in invoices vs. contracts.
11. Participate in periodic business reviews with vendors and track service level performance, responsible for the relationship with the U.S. credit card processor and other third-party providers of payment solutions, stay current on trends and new technology in the payment industry, and evaluate, recommend, and direct implementation of alternative forms of payment to reduce cost and provide enhanced payment options to U.S. Independent Sales Force members and their customers.
12. Advises and participates in evaluation and implementation of payment solutions globally.
13. Ensure month-end close processes are completed timely and accurately, review and approve bank transaction coding/mapping in the TMS to automate accounting to the ERP system, review and approve manual journal entries, and ensure all cash activity is accurately recorded in the general ledger each month.
14. Responsible for accounting for all debt activity, manage month-end close calendar and checklist for Treasury, and oversee the global capital expenditure authorization process, accounting for U.S. PPE, and accounting for Leases.
15. Ensure compliance with company policy and proper classification of expenditures as capital under U.S. GAAP, direct accounting for U.S. capital projects and reporting to executive management of global capital expenditures, work 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.
16. Oversee the development of processes and tools to monitor global lease information and ensure appropriate accounting for leasing arrangements under U.S. GAAP, review the complex embedded derivative calculations associated with international leases, review the analysis of lease vs. buy to ensure decisions are based on sound financial analysis.
17. Manage financial activity and audit for the Company's profit-sharing and 401(k) plan, reconcile fund activity, manage the annual contribution process, and rebalance funds to meet investment guidelines, coordinate the annual audit by an independent audit firm and the preparation and issuance of the annual financial reports and IRS filings.
18. Work with auditors during the audit, review financial statements, 5500, and ensure reporting deadlines are met, manage the overall relationship with the Trustee and Investment Advisor and ensure quality service is received, review the MKI Profit Sharing and 401(k) Plan trustee statements monthly and resolve problems as they arise, prepare liquidity funding requests and quarterly investment manager fee directives.
19. Manage the process for forecasting short and long-term liquidity needs, responsible for the cash forecast process and reporting, review actual cash activity and assumptions used for future cash activity to ensure the highest level of accuracy possible in amounts projected, provide summary information and scenarios to support decisions on strategic initiatives, dividends, and other cash investments.
20. Monitor subsidiary cash balances and proactively work with the Director of International Tax to evaluate excess cash internationally and ensure repatriation on a timely basis, prepare annual shareholder dividend forecast for Executive approval.
21. Oversee 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.
22. Stay up to date on unclaimed property laws and evaluate the impact of pending changes to MKI, ensure unclaimed property filings are timely and accurate, manage and review 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.
23. Ensure documentation is in order and stay current on regulations in all states to ensure compliance, manage unclaimed property audits conducted by respective states, and maintain third-party software used in unclaimed property management and filing operations.
24. This job requires on-site work at a Mary Kay facility.

Requirements

The ideal candidate will have 7+ years of experience in Treasury, Finance with 2+ years of supervisory experience, a Master/Graduate Degree in Finance, Accounting, and a CPA certification. The candidate should have a solid working knowledge of Generally Accepted Accounting Principles (GAAP) related to Treasury and capital expenditures, as well as knowledge of economics and advanced Treasury concepts and processes.

The candidate should be able to develop complex financial models for capital investment analysis, leasing options, hedging strategies, and foreign currency changes, and present results in an effective way, using visual tools to enhance understanding of the data. The candidate should have 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.

The candidate should have strong organizational and time management skills to work independently on multiple projects covering a wide range of topics, manage strict deadlines while also managing vendor relationships and non-routine projects and activities, and 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.

The candidate should have advanced critical thinking and problem resolution skills to efficiently and effectively resolve issues and implement streamlining where possible, write and review policies and procedures with an internal control mindset, give guidance on improving internal controls and policies and procedures within own area and with global business partners, identify issues with internal controls and make recommendations for improvements.

The candidate should be 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, understand the broader business and strategic goals of the Company, and be able to organize and structure presentations or communications in a way that is easily understandable to the audience, use judgement to validate that the data is relevant and used in the proper context, develop stories and build arguments using data and visuals that lead audiences to clear conclusions in ways that compel action.

The candidate should be able 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, work with various specialized banking systems, including a treasury workstation, and be proficient in Excel and Microsoft Word, utilize digital tools to perform tasks at a high level of productivity, identify and support transformation of processes with technology, evaluate the cost effectiveness, ROI, and key benefits of new or existing technologies, identify when use of digital tools is not effective or practical, understand the TMS, ERP, and other systems used for Treasury functions and how these systems are integrated with other Company systems, and identify the risks, dependencies, and downstream effects when these systems and related systems or processes are modified.

The candidate should have cultural awareness to work well with employees in subsidiaries all over the world.

Benefits

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.