- Credit Management, Collections, & Accounts Receivable
- Manages the investigation of customer credit risk and the establishment of credit limits.This includes performing annual credit assessments on the top 25 customers (200+ individual accounts), all new accounts and requests for credit limit increases.This covers 75% of the total AR exposure.
- Manages the credit & collection processes.This includes working with CTS sales personnel, plant operations and customers to ensure that the AR is paid timely, and bad debt expense is minimized.
- Manages the Shared Service Center (SSC) AR Team that post cash receipts and collect past due balances.This coordination / supervision of the AR team provides technical support & collections knowledge when needed to ensure the transition to a SSC model for AR continues to be successful.
- Prepares credit metric reports and holds meetings to review the status of the AR accounts.
- Prepares the quarterly bad debt analysis and guides the quarterly bad debt review.
- Oversees the monthly balancing of AR which includes the reconciliation of cash & receivables with Accounting.
- SAP knowledge person for Cash Mgmt., AR & Credit.This includes participation in all SAP activity related to Treasury, learning SAP processes, and assisting in training the staff, problem resolution.
- Banking & Cash Management
- Supervises the Treasury Analyst.The analyst sets the company's daily cash position, reviews all banking transactions, resolves cash issues, executes wire transfers and other funding necessary to daily balance company's cash position.The director supports and backs up the analyst where needed.
- Posts monthly journal entries related to cash mgmt. activity.This includes providing service support to business units and corporate accounting when needed.
- Manages bank relationships and bank documentation (wire transfers, debit blocks & signing authorities).
- Prepares and maintains the short-term cash forecast for the US.
- Works with the foreign sites and FP&A on the company's long-term cash forecast.
- Prepares and maintains the monthly interest income / expense forecast, and debt / intercompany schedules.
- Manages Intercompany - works with accounting & sites to clear intercompany AR/AP transactions monthly.
- Commercial Insurance Programs
- Manages the development, implementation, and dissemination of insurance risk information.
- Maintains insurance policies and provides summary policy information to operations as required.
- Coordinate the renewal of commercial insurance policies.This includes working with business units to obtain renewal information (sales, payroll, property values) and providing that data to insurance brokers.
- Calculates quarterly workers compensation accrual requirements based on historical CTS losses.
- Coordinates insurance audits, the annual insurance budget & annual premium true-up billings to sites.
- Maintains the files on certificates of insurance.This includes working our insurance broker to obtain certificates and provide them to the requestor as needed.
- Manages all insurance claim preparation including data gathering.
- Foreign Exchange / Currency Exposures
- Track foreign exchange (currency) exposures for the company. This includes working with the foreign sites to determine natural hedging alternatives & improvements to exposures.
- Manages the company's FX management and hedging programs.
- Prepares fiscal plan FX rates & the monthly FX rate forecast / disseminates to all CTS sites.
- Other Responsibilities
- Works with auditors; internal & external to review Treasury processes, procedures and data generated.
- Handles the preparation of regulatory reporting - FBAR, FATCA, Dodd-Frank, SOX, etc.
- Responsible for Treasury technology, including implementing a Treasury Management System and bank software.
- Handles the preparation of annual budgets, forecasts, and operating plans for Treasury.
- Responsible for Treasury KPI's.
- Ad-hoc analysis as needed.
- Member of the Benefit Plan Investment Committee.
- Director / Officer of several CTS Corp subsidiaries.
- Manages the Dividend payments from CTS Subsidiaries to Corporate.
- Manages the Treasury portion of M&A activity.
- Candidate should have 8+ years of relevant work experience in Treasury, Finance or Accounting, with 4+ years of supervisory experience.
- Extensive knowledge of cash management practices as well as credit & collection practices.
- SAP experience is required.
- Capital Markets experience is desired.
- Undergraduate degree in finance or accounting.
- Experience with Microsoft Excel and PowerPoint.
- A CTP designation is desired but not required.
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Treasury Manager - Lisle, United States - CTS Corporation
Description
CTS is a $550 million corporation that employs 4,000+ dedicated people. CTS designs and manufactures electronic components, actuators, and sensors to OEMs in the automotive, communications, medical, defense and aerospace, industrial, and computer markets. The company manufactures products in North America, Europe, and Asia.Founded in 1896 as Chicago Telephone Supply, CTS is headquartered in Lisle, IL.
Job/Position Summary
This position is key part of the Corporate Treasury team.Responsible for credit management, cash management, liquidity projections, treasury operations, short-term investing, short-term debt management and operational relations with financial institutions.Additionally, this position directs the collections team, manages foreign exchange currency exposures, coordinates the collection of data to support the annual renewal of the company's commercial insurance programs and coordinates the workers compensation reviews.
Major Areas of Responsibility
CTS Corporation is an affirmative action/equal opportunity employer who complies with all applicable federal, state and local employment laws. In order to provide equal employment and advancement opportunities to all individuals, employment decisions at CTS Corporation will be based on merit, qualifications, and abilities. It has been and shall continue to be both the official policy and the commitment of CTS Corporation to further equal employment opportunities for all persons regardless of, among other characteristics, race, religion, color, national origin, sex, sexual orientation, gender identity, age, genetic information, status as a protected veteran or status as a qualified individual with a disability, or any other characteristics protected by applicable Federal, State or Local law.
We fully comply with all applicable Department of Labor and EEOC rules, regulations, guidelines, and orders including but not limited to Executive Order 11246 and 41 C.F.R.
•
•60-1.4, a), a) and a). The parties hereby incorporate the requirements of 41 C.F.R.
•
•60-1.4(a)(7), 29 C.F.R. Part 471, Appendix A to Subpart A, 41 C.F.R.
• a) and 41 C.F.R.
• a), if applicable. Except where prohibited by law, all offers of employment are contingent upon successfully passing a background check and drug screening.
ADA accommodation statement: If you require reasonable accommodation in the application process, call Human Resources at All other applications must be submitted online.
United States Additional Considerations
It is unlawful in all states where the Company operates, including Massachusetts, to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates applicable laws may be subject to criminal penalties and civil liability. The Company does not require a lie detector test as a condition of employment nor continued employment.
Applicants must have valid work authorization that does not now and/or will not in the future require sponsorship of a visa for employment authorization in the United States.
No agencies, please. We do not accept any unsolicited resumes and are not looking to engage an agency. We receive inquiries from agencies daily. Do not direct any inquiries or emails to hiring managers. It is not our standard practice to utilize agencies; we are a federal contractor and need to comply with the same process for all.
