Avery Dennison Treasury Manager in Glendale, California
Avery Dennison (NYSE: AVY) is a global leader in pressure-sensitive and functional materials and labeling solutions for the retail apparel market. The company’s applications and technologies are an integral part of products used in every major industry. With operations in more than 50 countries and more than 25,000 employees worldwide, Avery Dennison serves customers in the consumer packaging, graphical display, logistics, apparel, industrial and healthcare industries. Headquartered in Glendale, California, the company reported sales of $6.1 billion in 2016. Learn more at www.averydennison.com.
The Treasury Manager will be a member of the Treasury team at Avery’s headquarters in Glendale, CA reporting to the Director, Americas Treasury. The Treasury Manager will be primarily responsible for cash flow and working capital optimization, daily cash positioning, regional business unit liquidity funding, inter-co loan management and dividend distribution strategies, FX & Commodity risk management, and other treasury related activities.
Primary Responsibilities: Activities may include, but are not limited to:
Responsible for development of working capital optimization initiatives including, but not limited to; accounts payable, accounts receivable, inventory management, cash and other potential areas of trapped value. Use company reporting tools and drive change by direct contact with regional treasury centers and reporting segment finance leadership.
Co-lead the re-design of our Treasury cash flow forecasting process, improve effectiveness of the process and the use of historical data to predict future cash flow performance based on a set of key variables that adjust per the reporting segment forecasts (partner w/ Corporate FP&A to assess)
Responsible for daily funding through commercial paper issuance, managing annual forecast of CP levels in US and EU by month/quarter
Forecast and monitor overall inflows/outflows to ensure appropriate liquidity needs are met
Support cash funding process, review and process corporate wire transactions as needed
Conduct quarterly cash liquidity reviews and propose effective repatriation plans for excess cash across the Americas region, particularly in LATAM
Be a thought leader for business units participating in cash repatriation and help mitigate FX impact arising from cross-regional/cross-currency movements
Manage cross regional intercompany loans and process interest payments as needed
Analyze monthly FX and commodity exposures, develop hedging strategy, liaise hedge requests between Americas region, EMEA execution team, and counterparty banks
Recommend bank products and services to streamline processes, reduce costs, and improve business unit experience
Work with internal audit and local finance teams to ensure all SOX and compliance tasks related to corporate treasury activity are delivered on time
Responsible for debt interest payments, review of quarterly dividend and revolver fee payments, covenant calculations, and corporate financial reporting activity
Help with acquisition related treasury integration projects
Develop and maintain superior relationship with financial institutions to ensure ongoing effective support and high quality services with respect to foreign exchange management, treasury operations and financial risk management
Ensure consistent collaboration with multiple functional areas in the business, including Tax, Legal, local and Global Finance and IT teams and shared service centers (SSCs)
Perform other ad-hoc duties as assigned
Gain alignment on annual performance objectives with key stakeholders. Create transparency to progress and routinely seek feedback.
Model and promote our Code of Business Ethics and Values
Act as a team role model and change-agent
Successfully partner with others to achieve individual and business goals
Coordinate team efforts, create and manage regional operating plan
Solid knowledge of International Cash Management Techniques, Foreign Exchange Risk Management, Financial Forecasting and/or Planning, Money Markets, FX and Capital Markets, as appropriate
5+ years Treasury, working capital management, and foreign exchange related experience
Bachelor’s degree in Finance, Accounting or related field
CFA designation or pursuit (Level 1, 2 or 3) is desired
Excellent analytical skills
Understanding of applicable Treasury and ERP systems (FIS Integrity, Oracle) is desirable, but not mandatory
Excellent oral, presentation and written communication skills
Strong managerial skills
All your information will be kept confidential according to EEO guidelines.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, protected veteran status or other protected status. EEOE/M/F/Vet/Disabled