Manager, Treasury Operations NEW

Finance

Finance ensures that Mary Kay has financial resources to enrich women’s lives by challenging our cross-functional partners, enabling data-driven decisions and safeguarding our assets. The department does this with objectivity and integrity. Our dedicated teams include opportunities in accounting, payroll, planning, forecasting, tax, treasury and internal audit.

JOB PURPOSE

Responsible for all U.S. cash management operations including the efficient utilization of company cash and the effective operation and administration of the Treasury Management System (TMS). Manages the relationship with major banks, payment processors, and other service providers. Responsible for U.S. daily cash projections, short-term cash investment, global payment solutions, 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) funds in accordance with ERISA requirements. Manages unclaimed property filings and audits.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Utilizes the TMS to manage and report U.S. cash position.
• Reviews and approves cash disbursements and monitors timing of cash receipts.
• 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 cost-saving opportunities.
• Recommends and implements improvements in cash management processes to eliminate inefficient and ineffective processes and procedures.
• Develops and measures key performance indicators to evaluate teams 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.
• Constantly looks for anomalies or unusual patterns in transactions and recognizes when an abnormal transaction is material while considering business impact. Escalates issues when necessary.
• Reviews and approves bank transaction coding/mapping in the TMS to automate accounting to the ERP system.

• Analyzes available data and partners with U.S. and international markets to evaluate vendor fees, cost effectiveness, utilization, and value of existing payment methods and fraud detection tools.
• Recommends process improvements, upgrades, and modifications as appropriate.
• Partners with 3rd party service providers to understand current trends in payment methods and fraud detection for wholesale order payments, and to explore and create innovative payment options for the independent sales force.
• Partners with IT, Procurement, regions, and markets to implement new or modify existing payment methods, fraud detection tools, and other payment solutions or enhancements.

• Supervises the Treasury Assistant and Sr. Treasury Assistant roles, including goal setting, training, coaching, development, review of work, and performance evaluation.
• Responsible for ensuring adequate coverage for payment processing and internal and external partners requests when team members are out of the office.

• Prepares and manages the short and long-term U.S. cash forecast process, partners with Team U.S. for forecast sales data, and presents results to management.
• Uses historical and forecast financial data to prepare short and long-term cash forecasts for working capital needs.
• Ensures forecast is reasonable and based on relevant trends. Researches forecast variances to actuals and modifies methodology to improve the forecasting process as necessary.
• Prepares annual shareholder dividend forecast for Executive approval.

• Ensures quality service is received, and fees are accurate and reasonable.
• Works directly with financial institutions in setting debt interest rate options and periods. Monitors all interest and principal payment dates and amounts, ensuring payments are accurate and timely.
• Manages credit facility revolving loan activity.
• Works with banks and vendors to establish letters of credit and bank guarantees as required. Reviews monthly summary of letters of credit outstanding.
• Responsible for providing debt reporting to prepare U.S. GAAP consolidated financial statements and debt covenant calculations on a quarterly and annual basis.
• Researches IBC co-branded credit card 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.

• Reviews the MKI Profit Sharing and 401(k) Plan trustee statements monthly and resolves problems as they arise.
• Reviews liquidity funding requests and quarterly investment manager fee directives.
• Works with auditors during the annual audit of the Plan.

• Manages and reviews the unclaimed property process, including the procedures for notification and filing in all fifty states 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.