Cash Management Analyst

Western & Southern Financial Group•Cincinnati, OH

1d•Onsite

About The Position

Calculates the daily investable cash position for 20+ companies/portfolios. Analyzes and interprets various data feeds, reconciling previous day bank activity against projections and making decisions regarding the ultimate investment potential of the cash flows. Protects corporate assets through the use of strong monetary controls, financial judgment skills, an understanding of accounting principles and reconcilement. Maximizes the investment return for Western & Southern Financial Group. Maintains strong relationships with bank representatives, Fort Washington Investment Advisors (FWIA) Portfolio Managers, System Managers and FWIA and Controller (Investment Records & Accounting [IR&A] and Accounting Operations) support staff Provides consulting, analysis, report generation and assistance to the Treasurer, Assistant Treasurer, Cash Manager, subsidiaries and various departments within the enterprise. Works with minimal supervision and is responsible for making an established range of decisions, escalating to manager on a regular basis.

Requirements

Bachelor's Degree in Accounting, Finance or related field or commensurate experience - Required
Demonstrated sense of urgency. - Required
Proven strong analytical skills with orientation to details. - Required
Proven multitasking with strong prioritizing skills. - Required
Demonstrated ability to work independently and think critically. - Required
Strong problem-solving and root cause analysis skills. - Required
Proven ability to be adaptable and work under time constraints. - Required
Demonstrated excellent oral and written communication skills. - Required
Proven flexibility (work company holidays when the banks and markets are open). - Required
Working knowledge of Microsoft Office products. - Required

Nice To Haves

Demonstrated experience in banking and individual finance. - Preferred
In-depth experience with Treasury Workstations, Bank Software and Investment Systems. - Preferred
Demonstrated accounting and reconciliation experience. - Preferred
Certified Treasury Professional (CTP)-AFP - Preferred

Responsibilities

Analyzes cash flows to determine the current day cash position of assigned companies in the enterprise.
Communicates cash position information for assigned life insurance companies to FWIA within a very restricted timeframe.
Assesses daily cash positions for non-life (Eagle and IFS) companies and determines whether to invest excess cash in money market accounts or redeem from those accounts to cover cash deficits.
Uses knowledge of bank products and services to control the disbursement of corporate assets as well as to alert Treasury and FWIA of aberrations in daily financial settlements.
Utilizes a Treasury workstation for collecting financial data on each company/portfolio.
Quickly manipulates online bank applications to gather current bank balances.
Extracts cash-flow information from numerous Western & Southern Financial Group systems (PAM, EAS, EFT, PLM and ACE systems) and compiles comprehensive investment positions within a very restricted timeframe each morning.
Ascertains the impact of late-day cash or problem trade settlements and applies strong decision-making skills in implementing a course of action.
Coordinates the transfer of funds for various subsidiaries within the enterprise.
Verifies short-term trades utilizing online bank applications and communicating the status of pending trades to FWIA.
Verifies the accuracy of investment positions held in the money market funds and reporting any discrepancies to FWIA and IR&A.
Evaluates the enterprise bank balances daily, analyzing reported transactions to determine which operating areas are impacted and determining if unauthorized debits were processed in the accounts.
Determines if ACH or wire transactions are suspicious and contacting bank representative within a short timeframe to reverse such transactions.
Notifies appropriate areas of incoming funds transfers and preparing appropriate accounting entries where required.
Assesses how effectively funds transfer data is communicated to business units and recommending ways to automate and streamline such communication.
Utilizes knowledge of district office collection processing and banks' ZBA processing to detect and control missing or extraneous deposits.
Provides consulting services to Corporate Accounting, IR&A and Information Systems to reconcile out-of-balances and intercompany fund transfers.
Extracts data from various workstations and bank reports for Corporate Accounting, IR&A and enterprise subsidiaries.
Independently determines appropriate resolution of out-of-balance situations and creates journal vouchers to post entries to resolve any identified issues.
Confirms and updates Treasury workstation with information on pending trades, including pending purchases and sales of stocks, bonds, mortgages and real estate.
Interacts with Systems Managers and Programmers to help define new systems, modify existing systems and troubleshoot problems to achieve expeditious resolutions.
Supports testing of disaster recovery plans.
Reviews bank account analysis statements for assigned banks and coordinates import of billing data into bank fee analysis application.
Reports any discrepancies in fees charged vs. contract and unusual variances in account activity to the Cash manager.
Identifies and communicates to management any opportunities to reduce bank fees (such as eliminating duplicate or unused services and closing inactive accounts) and recommends next steps to take advantage of those opportunities.
Maintains records to allow efficient research into past transactions by Controller, Auditing (including State Auditors) and Annuity Operations group.
Initiates electronic funds transfers for payroll corrections, concentration of district office funds, funding of retained asset activity and movements of premium received at WSLIC to the correct life insurance companies.
Handles ADP payroll funding duties and subsidiary reimbursements of intercompany payables.
Notifies subsidiaries of reimbursement requirements and prepares required fund transfers.
Develops cash-flow forecasts for a portion of the categories needed in the monthly cash-projection reports.
Monitors the daily and monthly variances in actual versus projected income and expenses to determine if changes should be recommended.
Incorporates approved changes into the daily and monthly cash forecasts.
Plays an active role in the department's Operational Excellence journey, seeking improvements to daily processes to create efficiencies and time savings.
Performs other duties as assigned.
Complies with all policies and standards.