Jul 22, 2019
Reporting to the CFO, this position is responsible for managing all cash management functions including cash concentration, wires, account funding. Coordinate global liquidity for working capital needs, ensure corporate compliance with the Senior Credit Facility’s terms & conditions, efficiently manage acquisition debt, provide the private equity sponsor with timely and accurate cash reports and liquidity forecasts and invest short term excess cash (if applicable). Manage inter-company cash, including inter-company lending, dividends, and capital injections. Manage two direct reports in corporate treasury team.
Essential Functions and Key Responsibilities:
Treasury operations responsibilities:
Manage global Treasury function at TaylorMade.
Actively manage and lead the company’s monthly 13-week liquidity forecasting process, ensuring its accuracy and timeliness.
Actively manage the monthly FX exposure identification process and hedging program.
Review daily cash position and its components - lockbox receipts; ACH, check and wire A/P; payroll; interest and principal payments. Work closely with A/R and credit-collections to maintain DSO while coordinating with A/P and purchasing actions to ensure working capital is under control and able to support the business and meet debt payment.
Implement new bank technologies, products and services to improve cash cycle and simplify company operations.
Coordinating with accounting to ensure cash activities are properly recorded and bank accounts are properly reconciled.
Maintain letter of credit portfolio, working with beneficiaries to ensure coverage is up to date and coordinating with banks on any export L/C requirements.
Debt management responsibilities:
In conjunction with the daily cash management activity, the treasury manager will ensure the Revolver is used efficiently to cover net cash needs, preparing and submitting the Borrowing Base Certificate and proper Borrowing Notices, coordinating with the lender’s debt operations desk, ensuring bank fees are tracked and paid promptly, ensuring Term Loan amortization is handled on time, and interest is paid according to terms.
A key responsibility is to become familiar with the terms and conditions of the ABL and Senior Credit Facilities, preparing the various compliance certificates on a timely basis, alerting both management and the private equity sponsor of any possible upcoming compliance issues, developing working relationships with the Agent and the Lenders.
Liquidity and foreign currency management responsibilities:
Coordinate mid-month process of pulling together the various data points – from A/R, A/P, payroll, purchasing and planning - and prepare rolling 13 weeks cash forecast. The process will include a review of the data submitted and challenging underlying assumptions to ensure a high level of credibility in the final report.
Manage the company’s overall foreign currency (FX) exposure and hedging program.
Coordinate and supervise worldwide cash and FX exposure forecasting.
Build and develop global hedging strategies.
Prepare overview analysis of monthly report for both management and Board review. Position needs to fully understand the forecast to effectively deal with questions and discussions from management and the Board.
Maintain accuracy and integrity of the monthly report by tracking actuals vs forecast on a weekly basis, focusing needed action to be taken on major disconnects versus forecast.
Maintain bank relationships with existing banks and other service providers.
Coordinate treasury impact of tax strategy with CFO and Private Equity owners.
Ensure compliance with internal controls, policies and procedures. Develop and monitor treasury operational policies.
Performs other duties as required.
Knowledge and Skills Requirements:
Fluent in English; ability to communicate well, both orally and in writing.
Strong analytical skills required and the ability to detect and avoid errors.
Knowledge of Accounting principles, practices and procedures
Knowledge of Business Risk analysis and Risk evaluation principles
Advanced Microsoft Office skills (Excel, Word, PowerPoint).
Detail oriented with good organizational skills.
Able to adapt in a fast-paced environment
Education, Work Experience, and Professional Certifications:
10+ years of experience in cash management, capital markets, and/ or corporate finance in a global corporate or a banking environment.
Bachelor’s degree in Finance or related field required, MBA preferred
Experience working in a Private Equity environment
Experience managing debt facilities, building treasury functions and processes
Experience creating and implementing effective internal controls and P&P
Proven track record of active interdepartmental experience
Sarbanes-Oxley experience is highly preferred.
Certified Treasury Professional designation is a plus
Work Environment / Physical Requirements:
Office environment, heavy computer use
Light physical effort equal to frequent lifting or moving of lightweight materials.
Regularly required to sit or stand, bend and reach.
Must be able to work extended hours as needed.
May be required to travel domestically and internationally up to 25%
TaylorMade Golf Company
Carlsbad, CA, USA