Manages the company’s daily cash activity. Uses broad knowledge of the company’s investment and operational activities to ensure cash is consistently managed at an optimal level. Assists and/or leads moderately complex aspects of Treasury or investment initiatives.
Primary Duties & Responsibilities
· Uses working knowledge of company’s cash needs to set the daily cash positions for NM General Account and operating and investment subsidiaries.
· Plans for investment strategies and significant operational transactions to facilitate effective execution.
· Understands key cashflows and liquidity needs.
· Makes recommendations to leaders to improve and implement effective cash investment and processing strategies.
· Understands FX needs as they relate to investment transactions.
· Speaks to cash needs related to investment types and securities with an emphasis on settlement characteristics (commercial paper, fixed income/bonds, equities/stocks, mutual funds, derivatives, swaps, futures, forwards, private placements, real estate, TBA, MBS, etc...)
· Builds on foundational knowledge of TMS and be able to complete more complex technical set up and maintenance (account, entity, budget codes, flow codes, cash recon mapping rules, budget layout worksheets).
· Brings a thorough understanding of the systems and cash reporting software (PFI, Calypso, PLM, WTRS, Kyriba, PIMS, MEDM, Blackrock) to initiative planning meetings.
· Develops, implements, and improves daily cash reporting to report available cash effectively and accurately to key investment personnel.
· Participates in planning and provide daily support including cash allocation reporting of the Spread Lending debt program (Federal Home Loan Bank, FABN, Surplus Notes).
· Analyzes cash sources and uses and deliver quarterly reports.
· Analyzes and communicates cash flow projections and update working cash (portfolio rebalancing, new strategies, taxes, dividends, distributions, capital contributions, etc...
· Provides input into annual bank fee budget and target balances.
Subject Matter Expert
· Participates in cross functional investment projects and initiatives.
· Acts as a subject matter expert or key resource representing Treasury on new Bloomberg portfolio set up and investment strategy initiatives.
· Participates in multi - departmental meetings to discuss investment subsidiary cash strategies.
· As part of the company’s fraud controls, uses defined procedures to validate bank account ownership.
· Assists in the recovery and provide payment insights into fraud investigations. Complete bank report card system administration. Prepares reports for the service level meetings.
· Prepares and updates cash management procedures.
· Supports internal, external and MAR reporting needs. Provides insights into controls and processes.
· Requires a bachelor’s degree in finance, accounting, economics, or business administration. MBA preferred.
· Certified Treasury Professional (CTP) designation preferred.
· 3-5 years of treasury management experience.
· Extensive knowledge of managed investments, asset classes, and settlements.
· Highly proficient in Microsoft excel, treasury management, investments systems and software.
· Ability to multi-task and meet tight deadlines.
· Strong analytical skills, and detailed oriented.
· Team player motivated to provide great customer service to internal and external customers.
· Independently handle problems through resolution on critical matters.
· Must have excellent mathematical skills and confident telling a story with numbers.
· Organizes information and files in a useful, efficient, and effective manner.
· Concentrates efforts on top priorities and makes timely decisions.
· Takes time to build rapport and effective relationships.
· Excellent written and verbal communicator.
· Able to start at 6:30 am.
· Able to work holidays when the federal reserve or financial investment markets are open.
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Senior Cash Manager
Responsible for managing the entire cash management process including the development of systems for effective collections or revenues and payment obligations. Responsible for providing leadership and direction to ensure designated cash processing, reconciliation and reporting are done timely and accurately. Oversees implementation of Treasury initiatives and process improvements.
· Works independently to set the daily cash position and fund daily investment and insurance operational activity for Northwestern Mutual, operating and the investment subsidiaries.
· Recognizes and resolves issues related to unmatched forecasted cash activity.
· Provides insights on cash trends in the portfolios, investigating and resolving discrepancies, and create measures and metrics to enhance future forecasts.
· Recommends short term investments for the subsidiaries and makes sound technical decisions.
· Addresses system problems, and trouble shoot data file inconsistencies and/or treasury workstation system deficiencies.
· Interprets Treasury needs when acting as the subject matter expert on divisional projects, and cross departmental initiatives to explain cash management concepts and deliver optimal solutions.
· Possesses advanced investment knowledge on security asset classes, terminology, and the settlement process. Including, but not limited to derivatives, money market funds, mutual funds, fixed income instruments, private equity, public common stock, real estate equity, and mortgage loans.
· Understands TMS and data flows.
· Programs and extracts data from TMS to facilitate cashflow forecasting and liquidity needs.
· Enhances and/or develops cash reporting templates to be utilized by the Treasury team.
· Leads planning activity to provide support for reporting of the Spread Lending debt program (Federal Home Loan Bank, FABN, Surplus Notes).
· Understands the working cash report and incorporates information on newly acquired assets into the working cash report.
· Deep working knowledge of all cash reporting to key investment personnel.
· Understands and ties data to the 90 day and liquidity forecasting reports. Produces the annual bank fee budget.
· Acts as a resource for colleagues. Provides training, coaching, mentoring, and guidance to less experienced staff.
· Stays abreast of external market conditions, industry changes, or other macro events that impacts cash flow, and can determine the appropriate course of action as it relates to the allocation of operating cash.
· Briefs, consults, and presents information to deepen knowledge and recommend best practices to reserve, restricted, and strategic cash flow.
· Leads meetings with multi-departmental partners to discuss investment subsidiary cash strategies.
· Uses defined procedures to validate bank account ownership as part of the company’s fraud controls.
· Assists in the recovery and provide payment insights into fraud investigations.
· Provides training to Treasury team members on key fraud concepts.
· Provides back up on foundational liquidity reporting.
· Requires a bachelor's degree in finance, accounting, economics, or business administration. MBA preferred.
· LOMA FLMI, or FFSI Certification preferred.
· 6-7 years of treasury management experience.
· Thorough knowledge of investment departments and asset classes required.
· Highly proficient in Microsoft Excel, treasury management investments systems and software.
· Ability to use data tools such as Power BI to analyze and present data.
· Strong analytical and problem-solving skills.
· Ability to make decisions dealing with complex concepts within strict time constraints.
· Strong attention to detail.
· Ability to work independently and lead team members is required.
· Ability to produce information and recommendations using data to drive decisions.