The Treasurer manages the day-to-day functions in all aspects of accounting for tax payments and advances, including but not limited to, supervision of staff, administration of tax payments, involvement and review of daily and monthly tax payment reconciliations, facilitation of the monthly closing process for Operations Accounting functions, internal / quality control and related compliance for tax payment business cycles, oversight of the collection process for non-trade receivables and ad hoc projects at the direction of the CFO.
The primary function of the Operations Accounting department is to receive, track, manage and reconcile the full cycle flow of funds process for tax payments that are collected from customers ensuring that such funds are paid to tax agencies on or before the due date (a.k.a. Economic Loss Date or ELD), or returned to the customer for voids or tax refunds collected from agencies. At all times, this group is responsible to ensure all funds held are balanced and that no funds become stale or aged. In addition, this department is tasked with the collection of advances made from corporate funds which have been used to make tax payments, cover for errors made in the tax payment process and other reasons.
Tax Payments:
- Manages and reviews the tax payment process for all Standard Tax and Outsource customers, beginning with collection of tax payments from customers to issuance of tax payments to agencies via check, ach and/or wire transfer
- Provides supervision and performance of research for void checks and returned funds ensuring the funds are returned to the appropriate customer and/or consumer escrow account
- Prepares and maintains detailed internal logs for all outsource customers ensuring all incoming tax payments are applied accurately, are balanced without exception, and that all tax payments are completed timely and accurately
- Manages monthly reconciliation of bank (cash) and sub-ledger (clearing) reconciliations related to tax payment processing; implements daily and weekly reconciliation tasks to improve efficiency of month end processes
- Communicates with operational managers (e.g. TDT and Outsource Departments) for effective processing of tax payments
Treasury:
- Reviews and approves (or prepares) internal bank transfers from Outsource to TDT accounts for mass transfers
- Initiates or reviews and approve wire transfer tax payments to tax agencies
- Monitors daily funding requirements and wire limits through designated bank
- Reviews and approves daily cash deposits for tax payment accounts through designated Bank
- Evaluates new banking products and services regularly
- Ensures that required debt payments are made on a timely basis
- Maximizes interest earnings on deposit balances
- Serves as petty cash custodian and prepares monthly reconciliation to the general ledger
Internal Control / Quality Control:
- Creates/reviews/edits narratives and flowcharts of ALL cash flow processes and where necessary, identifies risks and key controls in place or in need of implementation
- Identifies process efficiencies, streamlines processes, and provides recommendations to the CFO
- Implements procedures and controls to improve the rate of collections and to reduce overall write-offs
- Reviews the Advance Request process with appropriate internal and external approvals ensuring advances are properly authorized and requestors are held responsible for later collection
- Ensures daily, weekly and monthly reports are completed without exception on a timely basis to support the operations and assist with SLA compliance
Collections:
- Manages the collection process for all non-trade receivables, including daily/weekly communication with Operations to obtain information needed to recovery customer advance funds
- Develops monthly collection targets and productivity goals for all staff; perform monthly performance reviews to these goals; goals to included definition of acceptable levels of aged balances by category (e.g. > 60 days, > 90 days, etc.), monthly collection targets and days outstanding by category (i.e. advances, agency receivables & third party receivables)
- Prepares monthly reports for non-trade receivables
- Provides daily/weekly advance and collection activity reports to the CFO, accompanied by a plan to collect past due balances
- Prepares reserve analysis of collectability of outstanding balances and maintains the appropriate evidence to support the position on a quarterly basis, to be reviewed and approved by the CFO
Other:
- Prepares departmental metrics report (no. of tax payments by type, OT hours, etc.) and distributes monthly to CFO
- Analyzes department staffing ensuring proper staffing levels exist to complete work on a timely basis; implement staffing models based on developed metrics
- Creates and prepares year-end audit schedules and communicates with external auditors, as necessary
- Assists in monitoring, managing and maintaining monthly closing checklist
- Coordinates daily update huddles for the Outsource Accounting team
- Performs ad-hoc financial analysis and special projects, as required
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| We are an Equal Employment/ Affirmative Action Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. |
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