Cash managers monitor, analyze and control the flow of cash that comes and goes between global companies and their international subsidiaries. They do this to meet the company’s finance, business and investment needs. The main job of international cash managers is to forecast cash flows in order to determine whether there will be a surplus or shortage of cash.
Primary Job Duties
International cash managers execute funds transfer transactions and monitor account balances to meet liquidity needs. They forecast payment needs, coordinate with banks regarding account issues and communicate with local accounting departments resolve banking problems. They must carefully and responsibly invest surplus cash through investment managers based on company policy and cash management objectives. They analyze business operations to forecast cash flows and predict surplus or deficiencies.
As managers, they are responsible for all cash reporting that includes weekly, monthly and annual forecast reports. They deliver quarter- and year-end reports that analyze flow and deliverables. They review cash transactions and accounting processes to ensure accuracy and transparency. They oversee global daily cash management plans and functions. They also manage global bank accounts, so they must open and close accounts as well as analyze and negotiate all cash management fees. They collaborate with executives through conference calls, performance reviews and identifying integration opportunities.
Financial Management Degree
The Bureau of Labor Statistics states that anyone who wants to become a finance manager will need at least a bachelor’s degree. Most international cash managers have a master’s degree in finance, accounting or investment management. They may also have a degree in business administration, such as an MBA with a specialization in global finance. These academic programs provide students with the finance, control and planning skills needed to handle international cash flows between many accounts. Students learn about budgeting, decision analysis, internal controls and financial reporting and planning.
Studying financial policies will introduce students to concepts like capital structure, budgeting and management. Students learn the decision-making techniques needed to problem-solve common global cash flow problems. Classes on money and banking study the functions of credit in world finance. Advanced accounting classes explore of the differences and similarities between the Generally Accepted Accounting Principles (GAAP) and the International Accounting Standards (ASI).
International cash managers need to maintain a working knowledge of local, regional and national cash management techniques. Relationship management is important because they must identify and meet their employer’s needs through global collaboration with financial professionals and institutions. Strong credit assessment skills will allow them to analyze and understand complex transactions within international frameworks. They must contribute to the implementation of risk management, internal control and best practice policies.
International cash managers need to maintain an appropriate level of business acumen and commercial awareness of current legal, economic and procedural issues within their industry. Knowledge of global cash management, banking environments, foreign exchanges and national treasury standards are required. Excellent planning, analytical, presentation and time management skills are desired. Job candidates must be able to demonstrate a solid understanding of the market, competitor and regulatory trends. They must also have impeccable ethics and strong integrity.
Related Resource: Careers in International Trade
Most international cash managers will earn the Certified Cash Manager (CCM) credential that is offered through the Association for Financial Professionals (AFP).