Senior Director, Treasurer
Accounting & Finance, Sales & Business Development
Vancouver, BC, Canada
Posted on Thursday, September 28, 2023
Who We Are
lululemon is an innovative performance apparel company for yoga, running, training, and other athletic pursuits. Setting the bar in technical fabrics and functional design, we create transformational products and experiences that support people in moving, growing, connecting, and being well. We owe our success to our innovative product, emphasis on stores, commitment to our people, and the incredible connections we make in every community we're in. As a company, we focus on creating positive change to build a healthier, thriving future. In particular, that includes creating an equitable, inclusive and growth-focused environment for our people.
About This Team
The Treasury team is responsible for managing our global cash and forecasting function as well as hedging, general foreign exchange, subsidiary funding, bank administration & relationship management, share repurchases and debt & investments. The team is heavily involved in international new market entry, new store openings and related projects, on a global scale.
A Day In The Life
Reporting to the VP of Corporate Development and Treasury, the Senior Director, Treasurer has global responsibility for our treasury function and serves as a pragmatic partner, advisor, and collaborator with senior business leaders across our global organization. The Senior Director, Treasurer will manage a team that is responsible for our cash & investment policies, managing cash positions across our global entities, hedging program, foreign exchange transactions, share repurchases, capital structure & allocation strategy, insurance policies, limit strategies and coverage.
- Presents to the Audit Committee each quarter on our cash, hedging, liquidity, share repurchases, capital allocation strategy, as well as other topics from time to time
- Sets the Company’s capital structure & allocation strategy based on projected free cash flows over a 5-year time horizon, identifying key investment priorities across organic growth investments, reserves for M&A, day-to-day operating cash requirements, and capital return to shareholders.
- Determines the optimal strategy for returning capital to shareholders and manages our current $1B share repurchase program including setting the price ranges and corresponding repurchase amounts under our 10b5-1 Plan. Requires presentation to and consultation with the Audit Committee, CEO, CFO, and Chief Accounting Officer.
- Oversees investment policy and strategy globally, including cash flows and ensures each market has sufficient liquidity to operate while effectively managing excess cash to maximize return.
- Directs a proficient team in developing & orchestrating our hedging strategy, which encompasses a portfolio of ~$1bn in forward currency contracts, and mitigates tens of millions of dollars in revaluation variability (losses/gains) each quarter while aligning financial safeguards with the organization's broader fiscal objectives.
- Manages important banking & other third party relationships
- Determines how much cash we should hold in each country globally, and how best to invest our cash to maximize interest returns factoring in need for liquidity, credit risk, and returns – in multiple markets
- Negotiates bank debt and revolving credit facilities, including determining the amounts and timing (presented to Audit Committee and Board for approval).
- Manages other important treasury initiatives including our supply chain financing program and other ad hoc Treasury activities
- 15+ years professional experience
- Bachelor's degree
- Qualified professional accountant (CPA,CA)
- Certified Treasury Professional
- Extensive experience working in multi-national business
- Expert knowledge of banking in over 30 countries globally
- Extensive experience in cash flow forecasting and managing cash in a growing multi-national business
- Deep knowledge of investment products and banking risks
- Highly effective communicator, pragmatic, excellent leadership and people development skills
- Expert knowledge of hedging, derivatives and associated cash flow
- Acknowledge the presence of choice in every moment and take personal responsibility for your life.
- Possess an entrepreneurial spirit and continuously innovate to achieve great results.
- Communicate with honesty and kindness and create the space for others to do the same.
- Lead with courage, knowing the possibility of greatness is bigger than the fear of failure.
- Foster connection by putting people first and building trusting relationships.
- Integrate fun and joy as a way of being and working, aka doesn’t take yourself too seriously.
Immigration support is potentially available for this role.