Treasury Associate, Cash Management & Working Capital

Treasury Associate, Cash Management & Working Capital

Location: Mumbai, India (Hybrid)
Function: Finance / Treasury
Employment type: Full-time
Reporting Line: This role reports to the Treasury Lead and works closely with the broader Finance team, leadership, including the CFO, Controllers and FP&A.

About the Company
We are a fast-growing B2B marketplace with a global footprint across the US, Europe, India and APAC. We connect businesses, streamline complex Diamond/Gemstones/and Jewelry supply chains, and process high transaction volumes across multiple currencies and payment rails. As we scale, best-in-class treasury and cash management are critical enablers of our growth.

Role Overview
We are looking for a hands-on, analytical and curious Treasury Associate with a strong interest in cash management, cash flow forecasting and working capital optimisation.

This role is ideal for someone who enjoys getting under the hood of how a business really works – investigating data, exploring underlying systems, understanding operational processes and connecting financial and operational drivers to actual and forecasted cash flows. We are looking for someone who is not afraid to roll up their sleeves and get into the details, seeing daily operations, investigations and problem-solving as opportunities to learn and gain a deeper understanding of the business. You should be comfortable challenging numbers, identifying root causes of discrepancies and finding ways to improve how we work.

The role combines daily treasury operations with the development and continuous improvement of treasury reporting, forecasting and planning processes. As our Treasury function continues to evolve, you will have the opportunity to actively contribute to establishing new processes, developing ways of working and building the tools and reporting capabilities needed to support a growing global business. Not everything is in place today, so we are looking for someone who enjoys taking initiative, solving problems and helping build structure where it is needed.

You will help ensure cash is in the right place at the right time, maintain and improve short- and medium-term cash flow forecasts, and support the optimisation of liquidity and working capital. This includes proactively identifying opportunities to improve cash efficiency across areas such as DSO, DPO, bank account structures, bank fees, interest and FX, and partnering with Finance and Operations to drive improvements. You will also work directly with our banking partners on day-to-day banking matters, payment investigations, KYC requirements and account administration, while supporting broader banking initiatives. Working with data across different systems, you will help improve visibility, accuracy and automation across treasury processes.

Based in Mumbai, you will work closely with the global Treasury team, FP&A, Accounting, FinOps and local business teams.

Key Responsibilities
1. Cash Flow Planning & Forecasting:

• Maintain, develop and continuously improve short-term (daily/weekly, up to 13 weeks) and medium-term (3–12 months, monthly) cash flow forecasts across entities and currencies.

• Analyse historical cash flows, operational drivers, business plans and financial data to develop reliable cash flow projections and identify trends and patterns.

• Consolidate and validate inputs from AR/AP, FP&A, Operations, Tax and Payroll into a consistent and reliable treasury forecast.

• Investigate discrepancies between underlying systems, source data and actual bank transactions to ensure data accuracy and completeness.

• Monitor forecast versus actuals, investigate and explain variances, identify root causes and continuously refine forecasting assumptions and methodologies to improve accuracy.

• Support scenario and sensitivity analysis to assess the liquidity impact of changes in collections, supplier payments, FX rates and other business drivers.

• Contribute to developing and automating forecasting processes, improving data integration, reporting capabilities and ways of working to reduce manual effort and increase reliability.

  2. Liquidity & Cash Position Management:

• Monitor and maintain daily global cash positions across banks, entities and currencies, ensuring accurate visibility of available liquidity and sufficient funds to meet operational requirements.

• Plan, execute and monitor intercompany transfers, funding movements and cash concentration activities to ensure liquidity is available in the right accounts and currencies when needed.

• Investigate cash movements, unexpected balances and discrepancies between bank transactions, treasury systems and underlying financial data.

• Identify opportunities to optimise cash allocation across accounts, entities and currencies, reduce idle balances and improve overall liquidity efficiency.

• Support the development and improvement of liquidity reporting, cash positioning processes and account structures, including opportunities for automation and more efficient ways of working.

• Support the placement and management of short-term investments and deposits, monitoring balances, interest income and opportunities to improve returns on surplus cash.

• Assist in monitoring and managing short-term debt facilities, including overdrafts and working capital lines, tracking utilisation, interest costs and available capacity.

3. Working Capital & Cash Efficiency:

• Develop, maintain and improve working capital reporting and KPIs, including DSO, DPO and cash conversion cycle, across entities, regions and customer/supplier segments.

• Analyse working capital trends and underlying drivers, investigating collection patterns, payment behaviour and outstanding receivables and payables to identify opportunities for improvement.

• Identify areas with higher-than-normal DSO or suboptimal DPO and collaborate with Finance, Sales, Collections and Operations to understand root causes and drive improvements.

• Identify cash inefficiencies across banking and account structures, including trapped cash, non-interest-bearing balances, unnecessary FX conversions and redundant accounts.

• Support initiatives to improve collections, payment terms, billing cycles and settlement processes to release working capital and improve cash efficiency.

• Contribute to improving and automating working capital analysis and reporting, ensuring reliable data and measurable insights.

4. Banking, FX and Interest:

• Support day-to-day banking operations, including payments, collections, bank account administration, signatory updates, KYC requirements and banking documentation.

• Act as a point of contact with banking partners, proactively investigating and resolving payment issues, transaction discrepancies, account access problems and other operational banking matters.

• Support bank account openings, closures and changes to banking arrangements, including coordinating documentation, following up with banks and internal stakeholders, and maintaining accurate banking records.

• Assist in managing banking relationships, reviewing bank fees, pricing and service levels, and identifying opportunities to reduce costs and improve banking efficiency.

• Analyse and monitor FX exposures across entities and currencies, investigate underlying drivers and support the development of FX reporting, risk management processes and potential mitigation strategies.

• Monitor interest income and expense, review the utilisation and returns of deposits, interest-bearing accounts and borrowing facilities, and identify opportunities to optimise interest income and funding costs.

• Contribute to improving banking processes, payment capabilities and system connectivity, working with banks and internal teams to support automation and more efficient ways of working.

5. Controls, Compliance & Reporting:

• Support compliance with internal treasury policies, banking regulations (including RBI requirements where applicable) and audit requirements.

• Maintain accurate records of bank accounts, mandates, signatories, user access rights and facilities, ensuring appropriate controls are in place.

• Monitor treasury activities to ensure compliance with approval procedures and internal controls, identifying and escalating exceptions.

• Support Accounting with bank reconciliations and month-end closing activities related to cash, interest, FX and bank charges, including investigating discrepancies.

• Prepare and improve treasury management reporting and KPIs, ensuring accuracy and completeness of financial data.

• Contribute to developing treasury policies, controls, procedures and documentation, and support internal and external audits.

6. Systems, Data & Process Improvement:

• Support the implementation, development and continuous improvement of treasury systems and tools, including Atlar, NetSuite and other financial and operational platforms.

• Explore and investigate underlying systems, databases, data sources and processes to understand how information is captured, processed and reported, identifying opportunities to improve data quality, accuracy and consistency.

• Develop and improve treasury reporting, dashboards and analytical tools, leveraging databases, SQL and other data analysis tools to enhance visibility into cash positions, cash flows, liquidity, FX exposures and working capital.

• Identify and investigate data discrepancies across systems, working with Finance, Operations and technical teams to understand root causes and implement sustainable solutions.

• Proactively identify opportunities to automate and streamline treasury processes, including payments, cash flow forecasting, bank reconciliations and reporting, reducing manual work and improving efficiency.

• Explore and leverage AI tools, such as Claude, to support data analysis, problem-solving, automation and the development of more efficient treasury processes, in line with company policies and data security requirements.

• Contribute to establishing new processes, controls and ways of working, documenting procedures and helping build scalable and reliable treasury operations as the business grows.

Qualifications & Experience
Must-have:

1. Bachelor’s degree in Finance, Accounting, Economics, Commerce or
   related field.

2. 3–5 years of experience in corporate treasury, cash management or
   similar roles (experience in a high-growth, multi-entity / multi-currency
   environment is a plus).

3. Good understanding of cash management, liquidity forecasting, working capital and financial statements and how business drivers flow through P&L, balance sheet and cash flow.

4. Strong analytical and problem-solving skills, with a curiosity to investigate underlying data, challenge numbers and identify root causes of discrepancies.

5. Advanced Excel skills and confidence working with large datasets, combining information from different sources and developing financial analysis and reporting. Interest in and willingness to leverage AI tools such as Claude for data analysis, problem-solving and automation.; familiarity with ThoughtSpot or similar is an Advantage.

6. Experience working with banking portals, ERP systems (e.g., SAP,
   NetSuite or similar) or other financial systems .

7. Strong communication skills in English, with the ability to work independently and collaborate with internal stakeholders and external banking partners.

Nice-to-have:

1. Experience in B2B, marketplaces, fintech, or payments-heavy businesses.

2. Exposure to multi-region structures (US/EU/India/APAC) and cross-border cash management.

3. Knowledge of Indian banking and FX regulations, and basic familiarity
   with global treasury best practices.

4. Professional certifications such as AMCT / CTP / CFA / CA / CMA (or
   working towards one).

   Skills & Competencies:

5. High attention to detail with a strong sense of ownership and accountability. Analytical thinking and the ability to turn complex information into clear practical insights.

6. Curious and investigative mindset, with a willingness to dig into underlying systems and data to understand how things work.

7. Proactive and solution-oriented, with a strong sense of ownership and the initiative to identify and drive improvements.

8. Comfortable working in a fast-paced, scaling environment where processes, systems and ways of working are still being developed.

9. Interest in technology, automation and AI, with a willingness to explore new tools and approaches to improve efficiency.

10. Able to balance daily operational responsibilities with longer-term development and improvement initiatives.

11. Strong collaboration and communication skills, able to work cross-functionally with Accounting, FP&A, Operations, Sales, Collections and Procurement. And with integrity and sound judgement when handling confidential financial information.