Director, Treasury and Disbursements

The Director of Treasury & Disbursements is a key member of Corporate Finance and Accounting at Werner, and will oversee corporate cash management, liquidity analysis, banking, treasury operations, and debt departments.

Responsibilities:

Provide oversight and direction to a team of treasury staff for the following:

Cash & Liquidity Reporting, Forecasting & Analysis

• Enterprise-wide daily cash positioning
• Consolidation and reporting of global cash, including acquired companies
• Analysis of surplus cash and assistance with repatriation efforts and/or short-term investment opportunities
• Cash pooling and related reporting
• Short-term and long-term "bottoms-up" cash forecasting for US, foreign countries and acquired companies
• Reporting of US and subsidiary cash flow, trend and variance analysis

Banking & Treasury Operations

• Commercial banking relationships, being well versed in banking product offerings, technology and services, providing appropriate bank fee analysis and proposing changes to products and services to improve Werner's treasury operations.
• Direct and oversee bank account openings and closings, ensuring proper approval, fulfilment of required documentation, and communication to essential stakeholders.
• Oversee effective record keeping and electronic archiving of all documentation related to bank accounts, including banking forms, resolutions, KYC documentation, etc.
• Maintaining the master list of bank account signatories, coordinating and tracking the status of updates as needed.
• Provide timely completion of all FBAR reporting for the company as required
• Provide reporting on bank account statistics and status.
• Serve as a subject matter expert on the treasury management system, as well as the primary liaison between technical support and the bank to solve any data transmission issues that are essential for day-to-day reporting and effective processing of payments.
• Becoming the primary system co-administrator of all banking portals and treasury management system.
• Direct user audits of banking portals and provide periodic reporting and statistics of changes in user access.
• Champion and lead bank rationalization and transformation efforts that result in cost and operational efficiencies as well as improved concentration and management of company cash.
• Manage credit card processor relationships, portals and set-ups.
• Lead onboarding and integration of new acquisitions and activities related to M&A and provide status reporting to internal stakeholders and integration teams as needed.
• Provide reporting on and analysis of global bank fees, trends and variances to budget.
• Provide direction to analyst to effectively carrying out day-to-day aspects of treasury operations such as: resolving bank errors, ACH reversals, stop checks, positive pay administration, lockbox activates, bank statement reconciliation, provide routing instructions, user training and support, etc.
• Executing foreign exchange transactions.
• Establishing best-in-class processes and procedures to improve communication with payroll, legal, accounts payable, accounts receivable and accounting.

Debt Administration

• Ensuring timely payment of principal, interest, swap settlements and fees for all credit facilities and bond issuances.
• Timely delivery of required notices to lenders for, including but not limited to borrowings, repayments, interest period rollovers.
• Coordinating assembly, review, signature and delivery of other lender communications, reports and notices as required.
• Reconciliation of interest expense, interest payments, interest rate swap settlements and fees associated with credit facilities.
• Revolver borrowings, repayments, and utilization by way of letters of credit
• Forecast, Plan, and analyze variances in Interest Expense, Interest Payable, and Cash Interest, including but not limited to covenant specific metrics.
• Provide oversight and direction to a team of accounts payable staff (i.e. any combination of manager, supervisor and AP clerk or specialists) for the following:

Accounts Payable

• Overseeing efficient and accurate processing of supplier invoices.
• Guiding and equipping key point of contact in A/P for both external stakeholders (e.g. Vendors) and internal stakeholders to address any concerns or issues in a timely manner.
• Responsible for the overall quality of service delivery from A/P to the organization, including acting as an escalation point to resolve and correct any issues / concerns raised by either internal customers or external vendors not resolved by A/P staff.
• This role will also form an integral part of the Finance Shared Service leadership team in providing insights into building out a successful Finance Shared Services organization.
• Provide senior-management review of various controls and process parameters, including vendor set up process and ongoing maintenance; timely and accurate processing of vendor invoices; straight-through processing of disbursements and settlements, accounting and period-end close
• Establish service and quality expectations required in order to build productive customer relationships with all of the key stakeholders / customers of A/P across the Werner organization to promote and deliver a high level of proactive service to maintain a high degree of customer satisfaction.
• Establish and maintain automation and innovation standards and continual improvement culture for A/P
• Develops implements and maintains systems, procedures and policies, including accounts payable functions to ensure adherence to company guidelines.
• Develops and monitors compliance with all financial and accounting policies, including Delegation of Authority (DoA) at all locations to ensure all payments are properly authorized.
• Monitors the health of the payables function through the creation and monitoring of reports and key performance indicators.

In carrying out the above-mentioned duties, the Director of Treasury & Accounts Payable will work directly and collaboratively with the Treasurer and/or Assistant Treasurer on the following topics.

• Relative to cash flow, liquidity, debt, derivatives, capital structure, working capital and various financial ratios:
  • Executive monthly reporting package
  • Quality and accuracy review of quarterly and annual public disclosures
  • Long-term strategic ("top-down") cash forecasting and liquidity analysis
  • Development of the annual financial plan
• Review and updating of company policies with relevance to above-mentioned topics and responsibilities
• Analysis on interest rate risk, maintenance of interest rate hedging program and swap portfolio.
• Providing expertise to the business on credit agreements and various covenants, including but not limited to adjusted EBITDA reporting, Excess Cash Flow Sweep calculations and various Restricted Payment baskets and capacity.
• Support with rating agencies reporting and correspondence as required
• Collaboration with tax, legal, foreign controllers, leadership of acquired companies and other treasury staff on cash concentration efforts.
• M&A support, including:
  • Due diligence of banking structure, treasury services and controls
  • Due diligence of cash flow forecasts, working capital, debt, derivatives, contingent liabilities such as LC's and surety bonds
  • Due diligence of A/P volumes, fees, transaction types, staff and controls
  • Closing funds flow oversight and direction
  • Integration of banking, cash reporting, funding needs, signatory updates, S-T investments, treasury and A/P related policies, invoice processing, straight-through process of disbursements and settlements
• Providing assistance to Treasurer for any capital market transactions, amendments to credit facilities, share or bond repurchase programs, executive presentations and other assigned initiatives.

Qualifications:

• Bachelor's degree from an accredited college or university with major course work in business, finance or accounting required or significant and relevant professional training and experience.
• MBA or an advanced degree in business, management or finance preferred.
• Certified Treasury Professional (CTP) preferred.
• 8-10 years of combined experience in corporate finance, accounting and treasury with progressive growth in responsibilities, of which 5-7 in corporate treasury and preferably with companies of Fortune 1000 size and scale
• A minimum of 5 (five) years of management experience with a team of reports.
• Experience with various treasury and tier 1 cloud-based ERP systems (Workday, Oracle, SAP) and proficiency with Microsoft Excel and PowerPoint
• Strong attention to detail.
• Excellent analytical and project management skills.
• Ability to summarize and concisely articulate complex matters to management.

Werner Enterprises provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, marital status, genetic information or veteran status or other status protected by law. We encourage applicants of all ages as we do not discriminate on the basis of an applicant's age.

By clicking "Submit" you are expressly consenting to our Privacy Policy (available at https://www.werner.com/privacy-policy/) and to Werner Enterprises, Inc., its representatives, and affiliates ("Werner") contacting you about your inquiry, and that Werner may collect sensitive information about you to consider your employment as explained further in our Privacy Policy. All information collected will be handled and retained as explained in the Privacy Policy.