| Job Description: BROAD FUNCTION AND SCOPE OF THE POSITION:
This position is responsible for Treasury and Pension Management. The Treasury function includes creating and maintaining financial models to assess and analyze the appropriateness of various financial instruments, managing non-financial covenant compliance, and bond rating analysis and reporting.
The Pension function includes managing the pension investment and funding process, inclusive of
a) analyzing and assessing investment results; b) determining appropriate investment liquidations to fund benefits; and c) developing and maintaining procedures that ensure compliance with SOX, annual audit, and other regulatory requirements.
PRINCIPAL CONTINUING RESPONSIBILITIES IN ORDER OF IMPORTANCE:
1. Treasury Management
a. Developing and analyzing financial models that demonstrate the relative strengths and weaknesses of various financing options to determine the optimum alternative.
b. Develop and manage a Treasury Reports structure that ensures proactive communication of Treasury issues to the VP Treasury and SVP/Treasurer.
c. Manage the covenant reporting process to ensure compliance with non-financial covenants that govern Del Monte's ability to engage in hedging, leasing, and other transactions
2. DB Plan Cash Management (3 Plans)
a. Manage the review of investment results and liability funding levels.
b. Develop operating and review procedures to ensure accurate receipt and disbursement of funds and to continue to drive the process to a best-in-class level. Coordinate periodic payments of DB Plan expenses (e.g. Investment Manager, Investment Consultant and Trustee/Custodian fees) to ensure timely and accurate payments, while avoiding potential prohibited transactions. Work with outside ERISA counsel to resolve any issues regarding payment(s) from, or deposits to, Plan assets.
c. Monitor DB Plan cash balances to determine periodic cash needs for each DB Plan.
3. Primary operating contact for Investment Consultant, Actuarial Consultant, SFO Law, SFO Human Resources, ERISA counsel and the Employee Benefits Committee (the "EBC")
a. Review, and in conjunction with SFO Law, recommend agenda items for consideration/action by the EBC at its quarterly meetings. Provide appropriate support for agenda items to be considered by the EBC.
b. Prepare the annual Investment Consultant performance assessment and coordinate preparation of presentations, as requested, to the Audit Committee and/or the Board.
c. Coordinate implementation of investment strategies approved by the EBC, to include addition and/or termination of Investment Managers, evaluation and selection of Transition Managers, liquidation of assets and/or reallocation of assets among Investment Managers.
4. Annual Audit of DB Plan Financial Statements
a. Develop and maintain comprehensive DB Plan records to ensure annual audit data requirements can be met to facilitate preparation and issuance of the audited DB Plan financial statements.
b. Act as the liaison between External Reporting/KPMG and the DB Plan's Trustees/Custodians/Investment Managers in regard to access to required materials.
c. Ensure DB Plan SOX controls are current, periodically review the controls with Internal Audit, review ERISA updates/issues to ensure management addresses any ERISA concerns re the DB Plan.
5. Monitor DB Plan Trust Accounts
a. Review monthly statements from the Trustees/Custodians (State Street and BNY Mellon) for DB Plan Accounting/Performance reports/Cash liquidations/Plan expenses.
b. Provide direction to the Trustees/Custodians regarding changes to Investment Managers, Asset Allocations, Plan Funding/Contribution activity, Deposits/Withdrawals and other miscellaneous activities in connection with day-to-day DB Plan activities.
QUALIFICATIONS:
Education:
MBA Finance, with equivalent experience in Treasury and/or Banking.
Years of Experience:
5-8 years in a corporate Treasury/DB Plan and/or complex Banking environment.
Special Requirements:
Excellent organizational and quantitative skills, as well as the ability to communicate effectively (verbally and in writing) with a diverse audience. Above average skills with MS Word, MS PowerPoint and advanced MS Excel skills (nested formulas, pivot tables, charts, etc.) required. Hands-on experience with Defined Benefit Plan activities for Plans with assets in excess of $200 million.
WE OFFER:
• Competitive salary
• Comprehensive benefits package including Medical, Dental, Vision, 401(k) and Pension Plan
Del Monte Foods is an Equal Opportunity Employer.
(https://www.delmonte.apply2jobs.com/)
No sponsorship is available for this position. No agencies. No 3rd party vendors.
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