Overview

Oversee and manage all North American (U.S. and Canadian) subsidiaries’ liquidity, solvency and financial market risks, in coordination with Group Treasury.

Overall Relevance for the Organization

The adidas Group owns over 1,500 bank accounts with global gross cash flows through these accounts around € 30 billion per year. In North America, the number of bank accounts being managed on a daily basis is in excess of 150. With North America identified as a key growth area, appropriate financial systems and treasury services need to be put in place and/or upgraded to support this growth. With total bank charges in excess of €1 million per year and credit card charges of nearly €10 million, North America is an area where improvements in efficiency and effectiveness are critical. In particular, significant opportunities were identified with our collection/disbursement processes and those opportunities need to be pursued.

Key Responsibilities

  • Oversee daily cash management, intra-group funding, corporate finance, cash collections and disbursements
  • Create strategy and lead initiatives focused on improving the efficiency, transparency and effectiveness of cash management processes/policies/solutions/strategies in North America; proactively challenge the status-quo and pursue world-class cash management operations;
  • Advise all North American brands, business units and functions on any financial risk and Treasury-related issues, including guarantees, leasing activities and financial risks; effectively communicate complex issues in an understandable matter
  • Ensure compliance with established internal control frameworks and Group/Market best practices and established policies Represent Group Treasury in local/regional teams;
  • Protect company assets; ensure effectiveness and efficiency of operations, reliability of reporting and compliance with applicable laws and regulations.
  • Create an environment which brings the North American team to execution excellence; inform, coach/mentor all internal stakeholders to achieve department/corporate goals & targets
  • Ensure and promote cross-functional collaboration and support one Treasury team philosophy;
  • Manage the access rights audit
  • Develop and monitor liquidity planning for Reebok US legal entity in cooperation with Treasury US
  • Drives the planning and execution of the Non-trade Purchasing Policy (NTP)
  • Designs collaborative Finance project management in NAM and with HQ
  • Drives continuous improvement in adidas North America’s application of global controls.
  • Drives action plans for findings raised during the on-field reviews, agreeing with deadlines and responsibilities with department Heads & ensure timely implementation of recommendations.
  • Oversees and instigates preparation, issuance and presentation of Local Internal Controls Review Plan (ICRP)reports to Senior Management
  • Designs, develops, implements  local policies, procedures and related internal controls, based on best practices and Group requirements
  • Responsible for coordination of (GCSA) process with all respective owners, as well as identification of possible improvements and gap closing
  • Organizes and manages North America risk assessment and risk reporting to HQ on a quarterly basis. Ensures completion of the Risk Control Matrices under the leadership of Group Policies & Internal Controls (GP&IC)
  • Collaborates with Group internal Audit on policies application and interpretation and develop required controls to address risks identified in these policies and GCSA.
  • Liaises with Group Internal Audit on closing identified gaps and implementing recommended actions resulted from internal and external audits globally.
  • Guides and supports the GP&IC requests on various ICS topics (e.g. Internal Controls over Financial Reporting Risk-Control-Matrices)
  • Responsible for Quarterly Representation Letter coordination including signing, collection and filing of quarterly letters.
  • Communicates, provides guidance, and trains on the Local/Global policies and ICS requirements

Authorities

  • Management of over 150 bank accounts and local banking relationships;
  • Within the general guidelines, define and implement global cash management strategies;
  • Plan, seek and engage project resources;
  • Engage third party service and system providers.

Key Relationships

  • Key Internal Stakeholders
    • CFO and CEO of adidas America
    • Group Treasurer / Group Treasury
    • Other Group Finance Departments, in particular Accounting/Controlling, Tax Department, and Financial Shared Services
    • North American Commercial Finance (brands, wholesale/retail)
    • Human Resources (related to Company 401k and Deferred Compensation Plans)
    • Internal Auditors
  • Key External Stakeholders
    • Financial Institutions
    • External Auditors

Knowledge, Skills and Abilities

  • Demonstrate extensive and deep knowledge of North American best practice cash management processes and corporate finance applications
  • Knowledge of accounting & controlling related to Treasury activities
  • Ability to effectively define and implement strategy
  • Excellent analytical skills in order to analyse complex issues and to improve processes and techniques
  • Excellent communication skills in order to negotiate with internal and/or external parties with possible divergent interests and with different business areas
  • Deep business and functional understanding of processes and structure
  • Strong skills in negotiate successfully with internal & external stakeholders
  • High degree of stakeholder orientation and appropriate prioritization
  • Ability to maneuver in consistently challenging environment
  • Highly specialized level of business acumen
  • Solid understanding of accounting and legal framework for North American cash management and corporate finance issues
  • Demonstrate ability to effectively manage a wide variety of tasks and meet established milestones and target dates
  • Ability to effectively present information and respond to questions from senior executives, stakeholders and cross functional business leaders
  • Ability to define problems, collect data, establish facts and draw valid conclusions, and determine and implement effective action plans
  • Desire and ability to work closely and collaboratively with other members of senior Finance leadership team
  • Ability to coach, manage, align, motivate and develop direct reports
  • Ability to think strategically, synthesize the most complex data and develop innovative solutions within an entrepreneurial environment
  • Strong auditing/internal controls skills
  • Ability to execute scenario planning and investment case analysis as appropriate
  • Excellent analytical, written, oral, organizational, and presentation skills to influence company leadership and decisions at all levels

Qualifications

  • Advanced degree or qualification in Finance, Economics or Accounting (e.g. MBA or CPA)
  • Solid accounting skills and experience
  • Advanced excel skills required
  • Familiarity with SAP, COPA and other relevant adidas and industry Finance systems/analytical software a major plus
  • 8-10 years of broad based operational finance experience with progressive responsibility in industry leading companies

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