What are the responsibilities and job description for the Global Treasury position at Magnera Corporation?
Overview:
Responsible for the direction and management of treasury activities of a global manufacturer and public company; ensures that financial transactions, policies, and procedures meet organization objectives, needs and regulatory body requirements; supervises the organizations banking, credit, insurance, travel and investment functions.
Responsibilities:
Education/Experience:
Supervisory Responsibilities:
Magnera's purpose is to better the world with new possibilities made real. For more than 160 years, the originating companies have delivered the material solutions their partners need to thrive. Through economic upheaval, global pandemics and changing end-user needs, they have consistently found ways to solve problems and exceed expectations. By bringing together these legacy companies, the distinct scale and comprehensive portfolio of products will bring customers more materials and choices. With a combined legacy of resilience, Magnera will build personal partnerships that withstand an ever-changing world.
Responsible for the direction and management of treasury activities of a global manufacturer and public company; ensures that financial transactions, policies, and procedures meet organization objectives, needs and regulatory body requirements; supervises the organizations banking, credit, insurance, travel and investment functions.
- Manage global financing alternatives, daily liquidity and treasury operations
- Coordinate with local treasury/tax teams to efficiently cash repatriation between global subsidiaries and corporate.
- Evaluates alternative financing proposals and recommend a course of action
- Assists CFO with establishing financial policy and executing fiduciary responsibilities
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Maintains effective relationships with financing institutions:
- Conducts negotiations in consultation with the CFO
- Manages debt covenants, amendments and reporting
- Oversee cash management, investments and subsidiary funding Approve all major treasury initiatives including cash pooling, funds transfer systems and treasury management systems
- Approves obligations for letters of credit and parent guaranties
- Oversees financial leasing analysis and initiates agreements
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Oversee global currency exposure management
- Reviews all significant currency exposures and initiate / approve programs to mitigate their impact on the Company
- Oversees foreign currency dealer for the Corporate Office
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Oversee pension and 401(k) investments
- Primary contact with pension trustee and 401K administrator with respect to investment matters
- Maintain effective relationships with investment managers
- Meets regularly with pension consultant to review recent investment performance, address emerging investment related issues and to make recommendations on asset allocation and managers.
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Oversee North American credit and accounts receivables functions
- Directs team that establishes customer’s credit limits, monitors risk and performs cash application
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Oversee the global insurance programs
- Maintains effective relationships with brokers and carriers analyzes and procure property, casualty, general liability and other miscellaneous insurance to reduce enterprise risk in a cost-effective manner
- Oversees insurance operation activities
- Evaluates and establishes risk management policies
- Oversee corporate travel policy, procurement activities and credit card program
- Manage the disposal of non-strategic real estate of the company
- High level of motivation and demonstrated aptitude in financial analysis. The position requires the individual to be analytically proficient and adept at problem solving. Experience in creating financial models in Excel or similar software is essential.
- Significant exposure to many financial relationships outside the company such as banks, investment managers, consultants, service providers, brokers, customers and attorneys.
- Excellent leadership skills and experience in managing all aspects of corporate finance, treasury operations and enterprise risk across a global multi-business enterprise.
- A thorough understanding of the fundamental principles of accounting and financial analysis is required.
- Technical accounting knowledge.
- PC and system support skills, with experience in ERP software considered desirable.
- Must possess ability to clearly express complex issues through effective verbal and written communication.
- Must demonstrate initiative and a willingness to learn new responsibilities. Effectively communicates with subordinates and other departmental members and exhibits a team approach. Promotes an atmosphere of positive and continuous improvement
Education/Experience:
- A candidate with broad and diverse financial management experience as a result of moving through disciplines associated with financial planning, analysis, strategy development, business unit controllership and corporate finance is a plus.
- A BS in Finance and/or Accounting is required
- Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from various stakeholders. Experience with creating and presenting material to members of the senior leadership.
Supervisory Responsibilities:
- This position supervises a Treasury Operations Manager, Credit department & Insurance Manager.
Travel:
- Up to 15% travel
