Cash and Treasury Manager
Nortek Global HVAC LLC
Date: September 2023
Title: Cash and Treasury Manager
Reports to: Director of Cash and Financial Initiatives
Nortek Air Solutions is seeking a self-driven manager who has a strong ownership mindset, bias for action, relentless customer advocacy, and front-line obsession. This person will be responsible for cash and treasury functions for the business, which includes owning & monitoring customer AR, reporting & forecasting cash flow, leading automation and continuous improvement activities, liaison with other functional teams to drive inventory & AP improvements and other activities that improve cash flow.
- Lead and own the Cash & Treasury functions for NAS and expand to Madison Air handling (MAH) group (UV Resources & Specified Air)
- Drive cash conversion for NAS and MAH to at least 85%+ OCF conversion on a repeatable and sustainable basis through continued focus on working capital.
- Reporting, analysis and forecasting of working capital, OCF and CCC metrics.
- Implement and track key performance and transactional excellence metrics like invoicing timeliness, application delays.
- Continue process enhancements to drive simplification and quantifiable improvements in cash conversion cycle.
- Own the cash forecasting process for NAS, automate it and expand the standardized process to other MAH entities.
- Collaborate with NAS finance team to reduce non-PO spend and improve disbursements forecasting accuracy.
- Supervise the collections personnel and NAS AR to maintain DSO and push to improve the current AR
- Lead and supervise the treasury personnel to support NAS Cash management, timely cash application and drive process improvements.
- Manage & lead automation and system enhancement projects related to Cash & working capital like invoicing / AP automation.
- Automate manual processes like DSO calculation, collections forecasting through collaboration with BI/Analytics team.
- Other adhoc activities or projects per business need.
- Guide, coach, and develop team members.
Education: BS in Finance, Accounting, or Business degree strongly desired.
Experience: Minimum 6+ years’ experience in Finance and Accounting
Skills and Abilities:
- Ability to collaborate and develop strong relationships with customer and internal personnel.
- Excellent written and verbal skills.
- Detail minded and highly organized.
- Ability to work with minimal supervision and accept additional responsibilities.
- Ability to multitask and work in potentially stressful situations.
Machines, Tools, Equipment and Work Aids: Computer proficient in a Microsoft Office (particularly Outlook and Excel) environment.
License(s)/Certification(s) Required: None
About Nortek Air Solutions:
Nortek Air Solutions (NAS) is a Madison Industries company. Madison Industries is one of the largest and most successful privately held companies in the world and has a robust portfolio of indoor air quality solutions. Madison builds entrepreneurially driven, branded market leaders that are committed to making the world safer, healthier, and more productive by creating innovative solutions that deliver outstanding customer value.
NAS is the largest manufacturer of custom heating, ventilation, and air conditioning (HVAC) equipment in North America. Its products include FANWALL TECHNOLOGY®, air handlers, packaged DX, vertical self-contained systems, energy recovery ventilators with integrated heating and cooling systems, coils and more. NAS has five strategically located manufacturing facilities which encompass over 2 million square feet of clean space and 180 sales representative offices. NAS's brands are known for innovation and advanced technology and provide customers with product solutions for every industrial need including commercial air handlers, clean room systems and mission critical technology. NAS's end markets include clean room, data centers, healthcare, education, industrial, and commercial.
Equal Opportunity & Non-Discrimination – Nortek Air Solutions is an equal employment opportunity and afﬁrmative action employer and all qualiﬁed applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, protected veteran status, sexual orientation, gender identity, status as a qualiﬁed individual with a disability or any other characteristic protected by law.ID:uDnQdo