Cash Management Analyst

Overview

Responsibilities

• Analyzes cash flows to determine the current day cash position of assigned companies in the enterprise. Communicates cash position information for assigned life insurance companies to FWIA within a very restricted timeframe. For non-life (Eagle and IFS) companies, assesses daily cash positions and determines whether to invest excess cash in money market accounts or redeem from those accounts to cover cash deficits. Accuracy of the calculations and interpretation of the data will have a critical impact on the enterprise bottom line resulting in a positive or negative total investment return. This responsibility encompasses: Using knowledge of bank products and services to control the disbursement of corporate assets as well as to alert Treasury and FWIA of aberrations in daily financial settlements.
• Utilizing a Treasury workstation for collecting financial data on each company/portfolio. Quickly manipulating online bank applications to gather current bank balances. Extracting cash-flow information from numerous Western & Southern Financial Group systems (PAM, EAS, EFT, PLM and ACE systems) and compiling comprehensive investment positions within a very restricted timeframe each morning. Ascertaining the impact of late-day cash or problem trade settlements and applying strong decision-making skills in implementing a course of action.
• Coordinating the transfer of funds for various subsidiaries within the enterprise.
• Verifying short-term trades utilizing online bank applications and communicating the status of pending trades to FWIA.
• Verifying the accuracy of investment positions held in the money market funds and reporting any discrepancies to FWIA and IR&A.
• Evaluating the enterprise bank balances daily, analyzing reported transactions to determine which operating areas are impacted and determining if unauthorized debits were processed in the accounts. Determining if ACH or wire transactions are suspicious and contacting bank representative within a short timeframe to reverse such transactions. Notifying appropriate areas of incoming funds transfers and preparing appropriate accounting entries where required. Assessing how effectively funds transfer data is communicated to business units and recommending ways to automate and streamline such communication.
• Utilizing knowledge of district office collection processing and banks' ZBA processing to detect and control missing or extraneous deposits.
• Provides consulting services to Corporate Accounting, IR&A and Information Systems to reconcile out-of-balances and intercompany fund transfers. These situations require extensive hours to research and resolve, so an understanding of the process is paramount to getting any problems resolved quickly. Extracts data from various workstations and bank reports for Corporate Accounting, IR&A and enterprise subsidiaries. Independently determines appropriate resolution of out-of-balance situations and creates journal vouchers to post entries to resolve any identified issues.
• Confirms and updates Treasury workstation with information on pending trades, including pending purchases and sales of stocks, bonds, mortgages and real estate. Interacts with Systems Managers and Programmers to help define new systems, modify existing systems and troubleshoot problems to achieve expeditious resolutions. Supports testing of disaster recovery plans.
• Reviews bank account analysis statements for assigned banks and coordinates import of billing data into bank fee analysis application. Reports any discrepancies in fees charged vs. contract and unusual variances in account activity to the Cash manager. Identifies and communicates to management any opportunities to reduce bank fees (such as eliminating duplicate or unused services and closing inactive accounts) and recommends next steps to take advantage of those opportunities. Maintains records to allow efficient research into past transactions by Controller, Auditing (including State Auditors) and Annuity Operations group.
• Initiates electronic funds transfers for payroll corrections, concentration of district office funds, funding of retained asset activity and movements of premium received at WSLIC to the correct life insurance companies. Handles ADP payroll funding duties and subsidiary reimbursements of intercompany payables. Notifies subsidiaries of reimbursement requirements and prepares required fund transfers.
• Develops cash-flow forecasts for a portion of the categories needed in the monthly cash-projection reports. Monitors the daily and monthly variances in actual versus projected income and expenses to determine if changes should be recommended. Incorporates approved changes into the daily and monthly cash forecasts.
• Plays an active role in the department's Operational Excellence journey, seeking improvements to daily processes to create efficiencies and time savings.
• Performs other duties as assigned.
• Complies with all policies and standards.

Qualifications

• Bachelor's Degree in Accounting, Finance or related field or commensurate experience - Required
• Demonstrated experience in banking and individual finance. - Preferred
• In-depth experience with Treasury Workstations, Bank Software and Investment Systems. - Preferred
• Demonstrated accounting and reconciliation experience. - Preferred
• Demonstrated sense of urgency. - Required
• Proven strong analytical skills with orientation to details. - Required
• Proven multitasking with strong prioritizing skills. - Required
• Demonstrated ability to work independently and think critically. - Required
• Strong problem-solving and root cause analysis skills. - Required
• Proven ability to be adaptable and work under time constraints. - Required
• Demonstrated excellent oral and written communication skills. - Required
• Proven flexibility (work company holidays when the banks and markets are open). - Required
• Working knowledge of Microsoft Office products. - Required
• Certified Treasury Professional (CTP)-AFP - Preferred

• Works in an office setting and remains in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
• Requires the ability to verbally communicate and exchange accurate information to customers and associates on a regular basis.
• Requires visual acuity to read and interpret a variety of correspondence, procedures, reports and forms via paper and electronic documents, visual inspection involving small defects; small parts, and/or operation of machinery (including inspection); using measurement devices continuously. Visual acuity is required to determine accuracy, neatness, and thoroughness of work assigned.
• Requires the ability to prepare written correspondence, reports and forms using prescribed formats and conforming to rules of punctuation, grammar, diction, and style on a regular basis.
• Requires the ability to apply principles of logical thinking to define problems, collect data, establish facts, and draw valid conclusions
• Performs substantial movement of wrists, hands, and fingers for continuous computer work.
• Extended hours required during peak workloads or special projects/events.

• None