Regal Beloit Corporation (RBC) is a $3.3B, publicly held leading global manufacturer of electric motors and controls, power generation products and power transmission products serving customers throughout the world. Regal provides products and solutions directly to OEMs, distributors, and end-users. At the end of fiscal 2019, employed approximately 21,000 employees worldwide. Primary countries include: US, Mexico, China and India. Regal was founded in 1955 and is headquartered in Beloit, Wisconsin. Regal's executive satellite office is located in Rosemont, IL.
Our mission: We create a better tomorrow by developing and responsibly producing energy-efficient products and systems!
The company is comprised of four operating segments:
Climate Solutions: (~$1.0 Billion revenues in 2019) Includes fractional HP motors, variable speed controls, and air moving solutions which are sold in the residential heating & ventilating, water heating, commercial refrigeration, and other OEM and aftermarkets.
Commercial Systems: (~$880 Million revenues in 2019) Includes medium motors from fractional to 5HP, fans and blowers and Hermetic stator and rotor sets which are sold to commercial heating and ventilating, commercial kitchen and laundry markets.
Power Transmission Solutions : (~0.8 Billion revenues in 2019) Constitutes products like gearing, bearings, couplings, and conveying components which are sold in a wide variety of markets including mater handling, oil & gas, beverage, and other industrial markets.
Industrial Systems: (~$575 Million revenues in 2019) Includes large motors, alternators, automatic transfer switches and switchgears which are sold to agricultural, marine, oil and gas, data centers, power generation and general industry equipment markets.
Scope of leadership role
Reporting to the V.P. Treasury and Tax, the Director, Treasury will serve as a key member of the Finance Leadership Team. This is a strategic and hands-on role that is responsible for developing strategy, managing teams, implementing best practices, risk mitigation and compliance, and providing thought leadership. Responsible for leveraging one's expertise and experience to improve Regal's treasury functions in the ever changing global landscape.
The Treasury Director will lead and develop an internal team and supplement resource needs with outside vendors and resources. The role will lead 4 direct reports: Treasury Manager, A/P Manager, Credit and Collections Manager, Senior Treasury Analyst. S/he must be forward thinking and have the ability to expeditiously execute global projects and programs. The successful candidate must be able to generate win-win outcomes by building partnerships across the enterprise while aligning expectations and integrating various points of view.
Key Responsibilities
Oversees daily management of cash, debt ,and investments.
Manages and negotiates bank relationships including banking systems and products.
Provides detailed consolidated cash flow forecasts, both short-term tactical and long-term strategic.
Ensure adequate liquidity for working capital needs and invest short-term excess cash; manage inter-company cash including inter-company lending, dividends and capital injections.
Develops and implements cash management operational strategies.
Assesses foreign exchange and commodity risk and implements hedge programs and strategies.
Oversees interest rate risk management.
Reviews monthly interest expense and accruals; monitors and reviews loan covenant compliance.
Forecast worldwide interest expense and income .
Oversees the credit and collection function and CECL compliance and reporting.
Functional oversight of the accounts payable and cash application process within shared services operation.
Analyzes and recommends potential alternative financing structures and explains/shows their impact on EPS, balance sheet, tax effects and financial ratios.
Develop reporting package for executive team and the Board of Directors on company's liquidity and key cash management operating metrics
Supports M&A activity related to treasury functions, including finance modeling, due diligence and treasury integration.
Assists FP&A with developing key inputs into the balance sheet, income statements and cash flow statements for annual plan.
Development of departments' annual budgets and monthly reporting regarding actual performance relative to approved budgets.
Ensures proper controls are in place for regulatory requirements, such as FBAR, SOX, and Dodd- Frank.
Assists with reporting for the board and external financial institutions.
PROFESSIONAL EXPERIENCE/QUALIFICATIONS
The successful candidate will have proven experience in developing collaborative relationships across all levels of the organization. This leader must have the passion, energy and intellectual curiosity necessary for a fast-paced, growth-driven environment.
Key Characteristics:
Strong relationship builder with the ability to influence and partner across all functions and levels within and outside the organization on a global basis.
Strong analytical skills with an attention to detail.
Driven self-starter with strong self-responsibility and ability to operate autonomously.
Creative and resourceful thinker with strong problem-solving abilities.
Excellent verbal and written communication skills.
Possesses strong character and integrity, as well as strong executive presence.
Has a mindset of continuous improvement and can embrace Regal's 80/20 principles.
Minimum Requirements:
Bachelor's degree required in Finance or Accounting. MBA or advanced degree in finance or management preferred. CPA or CTP preferred.
15 years of progressive experience with multi-national corporation, or combined experience with Big 4 accounting firm or large commercial or investment bank.
Significant hands-on experience with financial analysis, forecasting, FX and commodity risk management, and treasury management.
5 years' experience managing a team (direct and indirect).
Advanced knowledge of accounting principles and GAAP accounting rules.
Advanced MS Excel skills and knowledge of treasury and financial software packages.
Knowledge of Oracle and Hyperion a plus.
Demonstrated ability to create and build strategically while maintaining willingness and ability to execute in a hands-on way.
Ability to travel up to 20% domestically and globally.
