This individual will be responsible for supporting the day-to-day cashpositioning of the company, including the timely and accurate accounting,managing and reporting of cash balances and movements in our various accountsand manages our daily cash position including liquidity forecasting. May also be responsible for managing theescheatment cycle.
This position reports directly to the Sr. Manager, Treasury andhas contact with various departments/areas, Investment Managers, Third PartyAdministrators and Banks.
Duties and Responsibilities
Treasury Workstation, creating the daily Open Payable/Receivable and BalanceRollforward, ensuring settlement of the day's transactions, reconciling dailyvariances with intraday reporting, and escalating issues to management asappropriate.
Maintain intensive and detailed Excelspreadsheets in support of Treasury Operations, must be able to review anddebug complicated formulas to ensure accurate results
Transition reporting and analysis activitiesfrom Excel into the Treasury Workstation
Monitors cash disbursement requests, prioritizes,stages the item for payment, and records the cash impact for analysis.
Proactively plans for contingencies and proposeimprovements.
Identifies and proposes process improvements.
Automation of manual tasks & processes.
Engages knowledgeably and confidently withcustomers to satisfy requests in a timely manner within the confines of goodjudgement and the internal control environment.
Act as primary reviewer for Treasury Excel-basedreporting deliverables
Manages cash disbursement requests, prioritizes,stages the item for payment, and records the cash impact for analysis.
Assist the Treasury Manager with overseeingbanking relationships.
Proactively plans for contingencies and proposeimprovements.
Develop and reviews weekly liquidity forecast(Cash Projection) with a rolling 52 week view, employing automated orsystematically generated inputs:
Communicatesand interacts as primary interface with business unit managers to understandand project activities which materially impact liquidity.
Analyzesthe reasonableness and significance of account balance data as a primary driverof liquidity information.
Conceptualizeand develop forecasting drivers that assist in the creation and refinement ofthe weekly Cash Projection.
Transparentlypartner with Financial Planning and Analysis to utilize their forecast results,provide feedback on assumptions, and refine Treasury Cash Projectionsaccordingly.
Understandthe impact of the liquidity forecast on the weekly funding activities, act as abackup to perform this activity.
Mayact as backup forecast preparer.
Maymanage the bank fee analysis in an automated and regular fashion; track andmodel bank fees and custodial fees for forecasting purposes.
Responsible for performing the escheatment cycleand ensuring the timely, accurate, and fully compliant filing of due unclaimed property,including:
Ensuresall compliance requirements pertaining to the unclaimed property cycle are met.
Actsas primary interface for diligence letter response and pre-escheatment refund.
Interactwith TPA's and other business partners to ensure and evidence appropriate,effective, compliant communication.
Ensurethat the TPA's are producing consistently formatted, accurate data; challengeNIGO items; escalate accordingly.
Reconcilethe Unclaimed Property Liability balance sheet account (in accordance with thecurrent reconciliation policy).
Interactand coordinate with State agencies as appropriate. Immediately share correspondence withappropriate parties as needed (e.g., legal notices)
Analyzethe escheatment process, particularly those components involving TPA's, developrecommendations for automation, lead change.
Performthe quarterly estimated interest accrual, ensuring accuracy and the highestattention to detail in the process.
Perform the bank fee analysis in an automatedand regular fashion; track and model bank fees and custodial fees forforecasting purposes.
Monitor for bank fee errors, serve as point ofcontact for remediation
Analyze banking activity, consider and developbanking strategies.
Develops and maintains documentation of StandardOperating Procedures and Internal Control narratives related to the cashmanagement functions with accuracy and completeness.
Supports company-wide internal controlobjectives for Treasury by identifying key risks, adhering to controls,documenting controls for compliance and testing, assisting in the preparationof control self-assessments, and remediating any control gaps.
Manages the interface with external bankinginstitutions by acting as initial point of contact for issue resolution. Escalates issues to management for resolutionwhen necessary.
Prepares ad-hoc analyses promptly and accuratelyin response to management requests.
Provide for Business Continuity and
Provide Cash Management cross-training toTreasury staff.
Prepares, processes, and recordsnon-policyholder deposits on a daily basis.
May act as primary support and backup for the
May act as backup to other Treasury functions asneeded.
May be required to act as a backup to developthe weekly funding.
Perform special projects as assigned
Experience and Education Requirements
Bachelor's degree in accounting or finance, orequivalent experience.
5-10 years Treasury experience preferred in ahigh-volume banking environment (many banks and accounts).
Experience with automated banking and cashmanagement systems required, preferably FIS Integrity.
Insurance, Banking, or Financial Servicesexperience preferred.
Skills and Abilities
Exercises good judgement in all aspects ofperformance, particularly in identifying when urgency is required.
Highly motivated, self-starter & team playerwith a high energy level & willingness to aggressively take onresponsibility.
Able to make decisions/recommendations based onanalysis of data and trend analyses.
Strong computer knowledge including workingknowledge of financial based accounting packages, spreadsheets and wordprocessing software.
Able to work and effectively communicate withall levels of management, including executive management.
Strong computer knowledge including workingknowledge of financial based accounting packages, spreadsheets and wordprocessing software. Excel proficiencyrequired, including comfort with pivot tables, IF statements, SUMIFS,INDEX/MATCH, VLOOKUP, HLOOKUP.
Strong communicator with sufficient verbal andwriting skills. Recognizes theimportance of a communication serving as evidence in the audit trail. Comfortable gaining management's attention tocommunicate immediate concerns.
Strong analytic skills, high level of accuracy,and the highest attention to detail.
Highest level of integrity and commitment toachieving goals.
Willingness to double-check work before handingit off.
Support effective partnerships with key groupsand individuals and have good consultation and change management skills.
Able to produce in a fast-paced environmentwhile effectively addressing multiple projects and responsibilities.