Recently named one of Entrepreneur magazine’s Top 100 Cannabis Leaders, Cresco Labs is one of the largest vertically-integrated multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods (“CPG”) approach to cannabis, Cresco’s house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi and Mindy’s, a line of edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside*, Cresco’s national dispensary brand is a wellness-focused retailer designed to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco has launched the industry’s first national comprehensive Social Equity and Educational Development (SEED) initiative designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry.
At Cresco, we aim to lead the nation’s cannabis industry with a focus on regulatory compliance, product consistency, and customer satisfaction. Our operations bring legitimacy to the cannabis industry by acting with the highest level of integrity, strictly adhering to regulations, and promoting the clinical efficacy of cannabis. As Cresco grows, we will operate with the same level of professionalism and precision in each new market we move in to.
Cresco Labs is seeking a Manager, Treasury and Risk Management to join our corporate finance team in Chicago, IL. This Manager will be responsible for all cash management and banking relationships, as well as insurance and risk management. Key activities include implementation of new banking services and maintaining positive banking relationships including systems, user access, and fee structures. This individual will manage the cash disbursement and receipt process, as well as implement treasury policies, procedures, systems, and controls. This individual will also provide cash management and operating cash flow analysis to senior management on weekly, monthly, and quarterly basis as needed. Our ideal candidate must be a self-starter who is highly organized with great attention to detail and thrives in a fast-paced environment.
CORE JOB DUTIES
- Manage cash receipt and disbursement process (review of wire transfer and other payments such as ACH and checks), daily/weekly cash position and cash status, implementing process improvements.
- Assist with managing liquidity for working capital needs and invest short term excess cash when possible. Manage inter-company cash, including inter-company loans, dividends, and capital infusions.
- Review and/or prepare cash management and operating cash flow analysis on weekly, monthly, and quarterly basis, including presentations for executive management.
- Assist with banking and financial institution relationships. Negotiate bank and service fees.
- Support corporate risk management and insurance.
- Support long-term capital markets activities, including debt financing. Document and analyze the debt position and payments, working to minimize interest expense and optimize cash flow. Forecast interest expense and income.
- Implement new bank technologies, products, and services to improve cash cycle and simplify company operations. Assess/plan/implement TMS solutions.
- Assist with establishment and compliance with internal controls, policies, and procedures. Develop and monitor treasury operational policies. Manage Sarbanes-Oxley compliance for Treasury operations (future state).
- Assist with design and implementation of treasury KPIs for consistent distribution
- Assist with implementation of SAP ERP for treasury processes.
- Support employee share purchase and stock option program.
- Support leasing analysis and pricing.
- Support and facilitate month/quarter-end accounting and reporting for treasury transactions.
- Manage the integration of new businesses, which includes banking optimization, account signer migration, and wire transfer implementation.
- Manage other related special projects for management when required or requested.
REQUIRED EXPERIENCE, EDUCATION AND SKILLS
- Bachelor’s degree in Finance, Accounting or Business-related field
- MBA or CTP certification strongly preferred
- Minimum of 7+ years of finance and treasury experience
- Proven track record of effective treasury management at large, publicly traded companies
- Strong knowledge of banking systems and experience with financial accounting/reporting systems (Intacct/SAP helpful)
- Treasury management system (TMS) experience
- SOX testing experience
- Advanced proficiency in MS Excel and MS Office required (Pivot tables and V-Lookups, etc.)
- Ability to work and manage cross functionally
- Ability to work independently and solve problems, making knowledgeable recommendations to executive management
- Polished and effective interpersonal and communication skills, the ability to present ideas and information clearly and concisely, proofreading written materials
- Enjoys working in a fast-paced environment
- Must be 21 years of age or older to apply
- Must comply with all legal or company regulations for working in the industry
Cresco Labs is an Equal Opportunity Employer and all applicants will be considered without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, or disability status.