Develop and maintain adequate and effective banking relationships such that the corporate needs for cash, financing and letters of credit are provided; establish and administer policies, procedures and controls for the receipt and management of cash worldwide; provide for the efficient and safe investing of corporate cash; ensure the proper and timely administration of all loan agreements; provide for the timely forecasting of an adequate alert to management on shortfalls concerning the cash needs of the corporation; recommend and administer the risk management programs of the corporation, including insurance and cash (currency); manage and control the payroll function; ensure the establishment of policies and management of contract terms and conditions; design adequate credit and collection policies and manage compliance thereto.
- Administer Company policies with respect to extension of credit and terms of payment on domestic and international sales to achieve desired collection results and minimize bad debt risk.
- Direct the review of contractlanguage and satisfactory resolution of non-standard clauses minimizing legal and financialrisk to the Company. Ensure proper management and administration of the Company’s Risk Committee Meetings
- Administer and control all activities related to our Bank Credit Facility including (a) payment of all obligations that will assure non-default, (b) payment of all other disbursements so as to honor contract terms and maintain proper credit rating eliminating any need for restrictive payment terms, (c) effective investment of idle funds, (d) monitor positive and negative covenants to insure compliance.
- Formulate, recommend and administer the proper insurance coverage with regard to Property & Casualty Program providing required protection of Company assets.
- Authorize and administer agreement/issuance standby letters of credit and surety bonds as required by Elliott customers in compliance with salescontracts.
- Administer the payment and funding of all payroll including payment and filing of associated taxes on such payroll, including periodic incentive compensation and other special payments.
- Coordinate close working relationships with all Elliott Group financial operations providing those staffs with guidance and instructions in the areas of contract review, credit & collection activities, and cash management to comply with Company policy and objectives.
- Oversee the Company credit operations ensuring proper credit controls are in place and effective and ensure adequate reserves are established for doubtful account balances.
- Develop competitive financing alternatives such as U.S. Eximbank programs, deferred commercial bank financing, and leasing to supplement our sales department in their efforts to obtain salescontracts worldwide as required.
- Arrange effective foreign exchange contracts with commercial banks when Elliott sales/purchases result in currency exposure so as to eliminate or at least minimize our currency risk positions.
- Administer proper review and processing of sales orders from time of order entry to shipment consistent with Company policy.
- Manage the investments of the defined benefit and defined contribution plans of the Company in line with the requirements of the Retirement Plans Committee Charter.
- Responsible for oversight of the Tax Department, developing tax strategies, developing appropriate reserves, and ensuring compliance with all appropriate taxlaws.
- Bachelor of Science degree in Accounting, Finance or Business Administration.
- Must be a professionally qualified Accountant (CPA, CTP, Chartered Accountant, MBA, other as relevant).
- Minimum of 10 years of experience in an international Treasury environment.
- Knowledge should include commercial contractlanguage, structuring of tradefinance arrangements, cash management, trade terms of sale and instruments required to support such sales on a domestic and international basis, a good understanding of domestic risk and insurance management.
- Ability to negotiate, administer and control all elements of complex banking agreements, with special emphasis related to the Company Bank Credit Facility that provides day-to-day liquidity.