European Cash Manager - W&S - Amsterdam Ingevuld
Werving & SelectieThe European Cash Manager will be based in Amsterdam within the Cash Management department which is an integral part of the European Treasury department consisting of Corporate Finance, Cash Management, and Compliance. The Cash Management team is responsible for managing all the cash and short term investments of the organisation and the organisation's' Funds in Europe in a secure and efficient manner. The position reports to the Senior Cash Manager. In addition to European Treasury initiatives the successful candidate can expect to work on global treasury initiatives and information requests and with senior European finance officers to coordinate regional cash management activities.
The principle responsibilities of the position will be:
Liquidity Management
Oversees European Cash Desk operations in order to ensure that:
o The company's (several balance sheets) overall short-term cash needs are met and that excess cash is concentrated and used efficiently (paying short-term debt where possible and investing where appropriate).
o The company's subsidiaries throughout Europe are promptly provided with adequate but not excessive funds to conduct their operations.
o The automated zero balancing arrangements in place in Europe are working as prescribed and are put in place where appropriate.
Advises local accounting teams regarding the appropriate accounting for automated transactions.
· Manages the company's (several balance sheets) lines of credit. Ensures that draw-down requests are submitted to the funding agent in a timely manner. Manages the tenor of outstanding borrowings so as to minimize interest expense and avoid pre-payment penalties.
· Provides short-term cash forecasts to European management and Global Treasury. Assists in the integration of European cash forecasts into the Global cash forecast.
· Acts as the principal business owner of the cash management system in Europe (PeopleSoft). Works closely with the European IT team to ensure that the system is
fully operational, properly maintained, and enhanced where possible.
Disbursements Management
· Establishes and manages a centralized disbursements function in Amsterdam which will execute all European third party and Intercompany payments including:
o Establishing efficient, reliable, and predictable disbursement processes ensuring timely vendor payments whilst taking maximum advantage of vendor credit.
o Identifying and implementing opportunities to rationalize the disbursement process by streamlining the existing bank account structure.
Bank Relationship Management
· Manages the relationship with key banking partners including:.
o Monitoring and working to improve service levels as to payment execution, bank account opening and other services
o Aggressively managing issues and disputes and escalating them to an appropriate level within the bank.
o Establishing processes for monitoring bank fees and setting appropriate benchmarks to hold banks accountable for fee levels.
Intercompany Loans
· Ensures that all intercompany loans between European legal entities are properly documented in a manner that complies with US and local tax regulations, the organisation Inc. corporate policy, and other applicable legal/regulatory requirements.
· Ensures that the organisation Inc. is in compliance with all contractual reporting requirements with respect to intercompany indebtedness.
Other Responsibilities
· Monitors FX exposure within Europe and assists the Global Treasury in designing, executing and monitoring the FX risk management strategy.
· Establishes processes & reports to keep local accounting teams informed about cash management activities.
· Meet regularly with the European Controller and the European Fund Controllers to ensure that all legal and documentation requirements associated with cash transactions are met.
· Explores and evaluates opportunities for increasing the efficiency and effectiveness of cash- and liquidity-management processes; proactively presents and discusses these with Global Treasury and European management. Maintains an awareness of emerging products, systems and best practices in European treasury management.
Required Qualifications and Experience
· Bachelors degree in business, finance or accounting; MBA a strong plus
· Professional accreditation in cash management (e.g. CCM, ACT or IGTA) a strong plus, but not essential
· Fluent in English
· 7 - 10 years experience in finance with at least 5 years spent in European cash management and/or cash forecasting roles with large international businesses, ideally showing progressive increases in responsibility.
· Experience of working with ERP systems (e.g. PeopleSoft, SAP) and/or Treasury workstations, especially exposure to the implementation of such systems, would be a strong plus.
Absolute personal integrity essential
· ‘Robust' character is essential. Must have the ability to take direction from
multiple sources and set priorities accordingly. Must be diplomatic and ‘service minded', but with good judgement and a willingness to say ‘no' where required
· Must be comfortable with ambiguity, and be ready to work with minimal direct supervision, but with the flexibility to respond to urgent requests as they appear.
· Strong written and verbal communication skills required, especially:
o The flexibility to work effectively within a heavily matrixed, global environment, and to communicate appropriately with multiple constituencies
o The ability to deal firmly and effectively with bankers
and to drive the resolution of issues.
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