Director Cash Management
About Firma Foreign Exchange
Since 1998, Firma Foreign Exchange has provided global currency solutions to help small businesses grow. We believe business across borders can be less complex.
Firma is a global company moving more than $14 billion in payments around the world safely and securely for our clients. Currency exchange can be complicated; at Firma we keep it simple and secure.
Firma Foreign Exchange is looking to expand our remarkable team, with people who provide remarkable service, resulting in remarkable growth.
We value those who:
1) Dare to be adventurous, have a fresh, outward-looking way of thinking, determined, independent, entrepreneurial and ambitious.
2) Care to do what’s right and demonstrate trust, reciprocal respect, humility, honesty and personal responsibility in all relationships.
3) Share by collaborating and working together as one team to pursue mutually beneficial relationships and better outcomes for all.
4) Uncomplicate by making life easier for customers and each other and make the complex simple and straightforward for everyone.
5) Deliver by aiming to be the best, leading the way in service excellence and continuously working to innovate and improve products, services and processes.
Office locations: Canada, Australia, New Zealand, and the United Kingdom
Awards: Firma is proud to have been awarded Canada’s Best Managed Companies in 2019 and 2020. For the last four years, Firma has also received Great Places to Work Certification and won Great Places to Work in 2018.
Director Cash Management:
The Director Cash Management will help drive Firma’s growing corporate Treasury operations by implementing and maintaining the Treasury department’s integrity, reliability, and team-first culture. This will be accomplished by developing and implementing effective Treasury policies, procedures and processes that balance Firma’s operational, financial, and reputational risk associated with cash management, including: managing the current and forecast cash position; balance sheet hedging; and ensuring compliance and segregation of duties between the incoming payments, outgoing disbursements and cash management functions. The Director Cash Management will ensure implementation of: robust internal controls; best-in-class cash forecasting, reporting, and variance analysis techniques and methods; and coaching and mentoring to the team.
- Manage and lead the Cash Management, Incoming Payments, and Disbursements teams - understand the competencies required for successful team performance and utilize this knowledge to coach, mentor and develop the team.
- Energize and inspire the team – generating excitement, a sense of pride, and a drive to excel.
- Build and maintain relationships with all stakeholders within and outside the organization, including key banking partners.
- Oversight of daily back-office settlement operations including incoming payments, settlements, and cash reconciliation and resolution of escalated issues.
- Work closely with all direct reports of the VP Treasury, including the Manager Financial Risk and Position Profit and Director Treasury Innovation to create a team environment and cross-functional, high-performing Treasury department.
- Develop and implement best-in-class consolidated cash management, forecasting and variance analysis procedures and processes for bank accounts related to both trading and corporate operations (including funding of operating accounts, working capital payments and financing payments such as dividends, interest payments, collateral payments, etc.) operations.
- Develop and implement best-in-class cash reporting techniques and KPIs.
- Develop and implement strong internal controls and segregation of duties related to cash management, incoming payments and outgoing disbursements.
- Develop and implement processes and procedures to improve the liquidity and capital adequacy of the business.
- Develop and implement the strategy for “same-day processing” of payments.
- Develop and manage the strategy for Firma’s FXTD program, including determining the desired level of the program and recommending appropriate interest rates to be offered to customers.
- Work with banking partners to implement and manage credit lines related to settlement and overdraft lines.
- Work with banking partners to have a full understanding of cutoff times, payment processing times, industry standards and industry innovation related to payment processing
- Develop and implement best-in-class analysis and reporting techniques related to bank fees and work with banking partners to minimize bank fees incurred by Firma.
- Work closely with the Finance team to ensure cash management strategies and accounting strategies are aligned.
- Work closely with the Position Profit and Financial Risk teams to ensure Firma’s currency and credit positions are accurately managed and forecasted in cash balances.
- Ensure the Incoming Payments, Disbursements and Cash Management teams are aligned to ensure efficiencies are realized and receipts from customers and outgoing payments to customers are accurately managed and forecasted in cash balances.
- Continually review back-office Treasury operations for continuous process improvement and automation; support strategic initiatives including definition of process, controls and associated system requirements
- Increase the technical knowledge in the team through training and education
- Align with the corporate strategy and priorities and execute on Treasury’s mission and vision, including focus on strategy, operations and culture.
Skills and Abilities:
- Strong communication and interpersonal skills.
- Strong analytical skills.
- Ability to forecast issues; forward looking.
- Demonstrated leadership and supervisory skills.
- Proven interpersonal, teamwork, and relationship building skills.
- Ability to collaborate and communicate effectively with colleagues and business partners.
- A high level of attention to detail, strong written and oral communication.
- Strong understanding of internal controls and segregation of duties.
- Strong understanding of financial institutions and banking systems.
- High-level financial skill: cash management, accounting, financial risk management.
- Strong background in global, consolidated cash management strategies.
- Robust knowledge of global payment methods and trends.
- Working knowledge of trading management and reporting systems.
- Excellent organization, prioritization, and problem solving skills.
- Flexible attitude and approach to work and ability to meet deadlines.
- Openness to the ideas of others.
- Strong attention to detail.
- Knowledge of regulatory compliance principles.
- Self-motivated and ability to function well independently.
- Strong understanding of Chartered Professional Accountant (CPA) and Certified Treasury Professional (CTP) bodies of knowledge.
- Customer and Service Focus
- Drive for Results
- Cultivates Innovation
- Organizational Savvy
- Develops Talent
- Managerial Courage
- Decision Quality
Education and Experience:
- Degree in Commerce with a major in Finance or Accounting
- Chartered Professional Accountant (CPA) designation or Certified Treasury Professional (CTP) designation required
- A minimum of 10 years’ related management experience in treasury or accounting and global consolidated cash management.
- Salary to be discussed in interview.
- Eligible to earn up to 15% of salary in the form of our Corporate Incentive Program.
- Health and dental benefits.
- Paid vacation time plus 5 personal days (pro-rated for first year of employment).
- After 3 months of successful employment, eligible for one half-Friday off per month.
- Funded completion of job-related training.
- Employee recognition system – movie tickets, household items, electronics, gift cards, etc.
Interested applicants please submit resume and cover letter to: firstname.lastname@example.org
Applicants are required to be able to work remotely to be eligible for consideration.
We thank all applicants in advance; however only individuals selected for an interview will be contacted.