TREASURY / ACCOUNTING MANAGER chez Formulated Solutions

Position Overview: 

Formulated Solutions is seeking a skilled Treasury and Accounting Manager to join our finance team and oversee our treasury operations, ensuring optimal liquidity, risk management, and financial strategy alignment. The Treasury Manager will be responsible for managing the company’s cash flow, banking relationships, and financial risk management. Reporting directly to the Controller, the selected candidate will play a pivotal role in ensuring that the company’s treasury and accounting functions are efficient and aligned with our strategic goals and private equity stakeholders' expectations.

Key Responsibilities:

Cash Management:

• Oversee daily cash management, including cash flow forecasting and optimization.
• Overall responsibility for allocation of weekly payments within current liquidity structure and supplier payment terms
• Consistent preparation of short and long-term weekly cash forecasts
• Manage cash positioning to ensure liquidity requirements are met and surplus cash is effectively invested.
• Develop and support improvements to treasury policies, procedures and controls
• Create and route for approval cash disbursements including checks, ACH and wire payments
• Monthly reconciliation of all company bank accounts
• Implement and maintain cash management policies and procedures.
• Effectively work with and support internal business partners including AR, AP, legal, tax and IT
• Oversee day-to-day operations of AP and AR departments

Banking and Financial Relationships:

• Develop and manage relationships with banks and financial institutions.
• Oversee bank account management, including opening, closing, maintenance and signatory updates.
• Evaluate and recommend banking products, services and platforms as appropriate.
• Responsible for monthly bank compliance and covenant reporting

Risk Management:

• Identify and manage financial risks, including interest rate, foreign exchange, and credit risks.
• Develop and implement hedging strategies to mitigate financial risks.
• Monitor and analyze risk exposure and recommend appropriate risk management strategies.

Treasury Operations:

• Oversee treasury operations and ensure accurate and timely reconciliation of cash transactions.
• Implement and maintain treasury systems and processes for efficiency and accuracy.
• Effectively work with and support internal business partners including AR, AP, legal, tax and IT
• Work with internal and external auditors
• Support special projects and M&A activities

Treasury porting and Analysis:

• Prepare and present treasury reports to senior management and private equity stakeholders.
• Assist Controller with 13 week cash forecast and cash reporting
• Daily cash/liquidity positioning and reporting
• Ensure accuracy of interest expense payments and PIK accruals
• Periodic cost review and alignment of bank fees
• Provide analysis and recommendations on liquidity, financial risk, and investment opportunities.
• Support the preparation of financial models related to treasury functions.
• Financial Accounting
• Prepare, analyze detailed account reconciliations.
• Analyze P&L and balance sheet accounts for accuracy.
• Assist in month-end closing, prepare journal entries as necessary.
• Maintain internal control documentation and test internal controls.
• Develop and implement accounting procedures to improve accounting and business processes.
• Support operations through effective communications of overhead expenses, material utilization and labor efficiency reporting.
• Maintain fixed asset project tracking and asset verification
• Work on special projects as required.
• Support and assist internal department reporting requirements such as audit schedules, tax schedules and others.
• Create and review the controls needed for data accumulation and reporting systems.
• Support external audit requirements and report preparation

Compliance and Controls:

• Ensure compliance with financial regulations, policies, and procedures.
• Develop and maintain internal controls to safeguard company assets and ensure accurate reporting.
• Prepare, review and maintain SOX compliance within the department; ensure proper controls exist over cash receipts, disbursements and general treasury activities

Process Improvement:

• Develop and support improvements to treasury and accounting policies, procedures and controls
• Identify and recommend treasury process improvements.
• Ensure best practices are followed in treasury operations.

Qualifications:

• Bachelor’s degree in Finance, Accounting, Economics, or a related field; MBA or professional certifications (e.g., CTP) preferred.
• 5-7 years of experience in treasury  / accounting management, preferably within the healthcare or manufacturing sectors.
• Strong analytical, financial and systems skills, including advanced spreadsheet and modeling skills
• Experience working in a private equity-owned environment is highly desirable.

Desired Attributes:

• Strong knowledge of cash management, financial risk management, and banking operations.
• Proficiency in treasury management systems and financial software.
• Excellent analytical and problem-solving skills.
• Excellent communication skills in dealing with internal and external customers and business partners
• Ability to work independently and manage multiple priorities in a fast-paced environment.
• Analytical mindset with strong problem-solving abilities.
• Detail-oriented with a focus on accuracy and compliance.
• Results-driven with a commitment to meeting deadlines and achieving project milestones.
• Self-motivated, collaborative and responsive.