The Sherwin-Williams Company
The Senior Director, Global Treasury is responsible for enterprise-wide liquidity strategy, capital structure optimization, and financing activities. This includes managing the daily cash and liquidity needs of the Company and its subsidiaries, including cash positioning, cash forecasting, bank account structure, bank products and services, and devising and executing strategies to fulfill these needs. This role will also be responsible for quantifying and managing foreign exchange exposures and ensuring compliance with regulatory requirements and internal policies across all regions. This role will lead a global treasury team, including Directors and senior staff.
Because this role involves access to confidential financial information, the Company has determined that a review of criminal history is necessary to protect the business and its operations and reputation and to provide similar protections for its clients and potential investments.
This role role is not hybrid/remote and will report to Sherwin-Williams Global Headquarters located at 1 Sherwin Way, Cleveland, OH 44113.
CORE RESPONSIBILITIES AND TASKS Cash and Liquidity Management
Oversee cash management initiatives and day-to-day Treasury operations
Design and implement cash management structures globally as well as manage the administration of all bank accounts
Manage short-term borrowing and investing activities
Ensure debt service for both external and inter-company borrowings are performed accurately and timely
Oversee global netting program
Manage the issuance of letters of credit, bank guarantees and surety bonds
Design, implement and maintain cash forecasting models for various time periods. Review cash forecasts by country / region and recommend alternatives to fund cash needs
Formulate and execute strategies to repatriate excess cash from foreign subsidiaries, mitigating the potential for trapped cash
Review, recommend and implement products/services that improve treasury processes, enhance visibility into account balances and activity, and strengthen internal controls over the Company's cash
Foreign Exchange
Identify, quantify, and monitor net foreign currency exposures, propose solutions to mitigate such risk, and execute hedging strategies in compliance with company policy
Oversee the preparation, consolidation and distribution of foreign exchange rate budgets and forecasts for approximately 50 currencies
Analyze monthly FX gains and losses, research and resolve discrepancies
Treasury Operations and Systems
Implement and maintain treasury systems which automate processes and ensure consistent, efficient and secure treasury operations globally
Serve as the Treasury subject matter expert for global financial system implementations and upgrades
Manage access to bank portals and other treasury systems or applications, ensuring the associated functionality is appropriate for the users' job function
Strategic Leadership and Compliance Responsibilities
Manage regional treasury managers across multiple geographies.
Manage all accounting and financial reporting obligations related to treasury transactions, ensuring the accurate and complete recording of cash, debt, investments, treasury stock, and hedging activities
Prepare, update and maintain all hedge accounting documentation and monthly mark-to-market valuations
Assist with the development and maintenance of banking relationships, specifically those related to treasury and trade services
Demonstrate leadership skills to ensure the continued growth and development of staff
Monitor bank and other financial fees and suggest and execute cost savings initiatives
Coordinate the monthly compilation and distribution of treasury metrics and related reports
Oversee the compilation of information to comply with internal and external audit requests.
Lead the integration of acquired company's Treasury function into the Company's preferred structure
Ensure compliance with debt covenants and associated reporting requirements
Advise management of country specific political and economic issues that may affect the Department's initiatives and/or company operations
POSITION REQUIREMENTS FORMAL EDUCATION Required:
Bachelor's Degree in Finance, Business or Accounting
Preferred:
Master's degree (MBA) preferred
CTP or CFA certification preferred
KNOWLEDGE & EXPERIENCE Required:
10+ years of accounting, finance and/or treasury experience in a multinational organization
6+ years of experience managing people
Strong communication and interpersonal skills with the ability to interact with senior management, banks and other financial institutions
Proven leadership experience, with a demonstrated ability to develop talent
Ability to react quickly to a changing environment
Preferred:
Strategic thinking, executive communication, and global financial markets expertise
TECHNICAL/SKILL REQUIREMENTS Required:
Knowledge of financial markets, corporate finance principles and global banking products and services
Sound understanding of financial and accounting concepts applicable to treasury transactions, including foreign exchange derivatives
Proficient in MS Office - Excel, Word and Power Point
Ability to interpret financial data
Preferred:
Extensive experience in cash and liquidity management
Familiarity working with treasury management and ERP systems
Knowledge of financial risk management strategies
Travel: 10%
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Because this role involves access to confidential financial information, the Company has determined that a review of criminal history is necessary to protect the business and its operations and reputation and to provide similar protections for its clients and potential investments.
This role role is not hybrid/remote and will report to Sherwin-Williams Global Headquarters located at 1 Sherwin Way, Cleveland, OH 44113.
CORE RESPONSIBILITIES AND TASKS Cash and Liquidity Management
Oversee cash management initiatives and day-to-day Treasury operations
Design and implement cash management structures globally as well as manage the administration of all bank accounts
Manage short-term borrowing and investing activities
Ensure debt service for both external and inter-company borrowings are performed accurately and timely
Oversee global netting program
Manage the issuance of letters of credit, bank guarantees and surety bonds
Design, implement and maintain cash forecasting models for various time periods. Review cash forecasts by country / region and recommend alternatives to fund cash needs
Formulate and execute strategies to repatriate excess cash from foreign subsidiaries, mitigating the potential for trapped cash
Review, recommend and implement products/services that improve treasury processes, enhance visibility into account balances and activity, and strengthen internal controls over the Company's cash
Foreign Exchange
Identify, quantify, and monitor net foreign currency exposures, propose solutions to mitigate such risk, and execute hedging strategies in compliance with company policy
Oversee the preparation, consolidation and distribution of foreign exchange rate budgets and forecasts for approximately 50 currencies
Analyze monthly FX gains and losses, research and resolve discrepancies
Treasury Operations and Systems
Implement and maintain treasury systems which automate processes and ensure consistent, efficient and secure treasury operations globally
Serve as the Treasury subject matter expert for global financial system implementations and upgrades
Manage access to bank portals and other treasury systems or applications, ensuring the associated functionality is appropriate for the users' job function
Strategic Leadership and Compliance Responsibilities
Manage regional treasury managers across multiple geographies.
Manage all accounting and financial reporting obligations related to treasury transactions, ensuring the accurate and complete recording of cash, debt, investments, treasury stock, and hedging activities
Prepare, update and maintain all hedge accounting documentation and monthly mark-to-market valuations
Assist with the development and maintenance of banking relationships, specifically those related to treasury and trade services
Demonstrate leadership skills to ensure the continued growth and development of staff
Monitor bank and other financial fees and suggest and execute cost savings initiatives
Coordinate the monthly compilation and distribution of treasury metrics and related reports
Oversee the compilation of information to comply with internal and external audit requests.
Lead the integration of acquired company's Treasury function into the Company's preferred structure
Ensure compliance with debt covenants and associated reporting requirements
Advise management of country specific political and economic issues that may affect the Department's initiatives and/or company operations
POSITION REQUIREMENTS FORMAL EDUCATION Required:
Bachelor's Degree in Finance, Business or Accounting
Preferred:
Master's degree (MBA) preferred
CTP or CFA certification preferred
KNOWLEDGE & EXPERIENCE Required:
10+ years of accounting, finance and/or treasury experience in a multinational organization
6+ years of experience managing people
Strong communication and interpersonal skills with the ability to interact with senior management, banks and other financial institutions
Proven leadership experience, with a demonstrated ability to develop talent
Ability to react quickly to a changing environment
Preferred:
Strategic thinking, executive communication, and global financial markets expertise
TECHNICAL/SKILL REQUIREMENTS Required:
Knowledge of financial markets, corporate finance principles and global banking products and services
Sound understanding of financial and accounting concepts applicable to treasury transactions, including foreign exchange derivatives
Proficient in MS Office - Excel, Word and Power Point
Ability to interpret financial data
Preferred:
Extensive experience in cash and liquidity management
Familiarity working with treasury management and ERP systems
Knowledge of financial risk management strategies
Travel: 10%
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