Finance Intern

Job Description

Job Title: Finance Intern

About the Opportunity:

Albany International Corp. invites a highly motivated and detail-oriented individual to join our dynamic Finance team as a Finance Intern. This is an unparalleled opportunity to immerse yourself in a comprehensive range of corporate finance functions, including treasury, accounting, tax, and financial forecasting. Through this internship, you will gain invaluable hands-on experience in the practical application of financial principles, learn about crucial areas such as financial risk management, capital markets, and the intricacies of corporate finance operations within a global manufacturing leader.

About Albany International Corp.:

Albany International Corp. stands as a global advanced textiles and materials processing company, celebrated for its innovation and market leadership. Our company operates through two highly successful core businesses:

• Machine Clothing (MC): As the world’s leading producer, this segment designs and manufactures custom-engineered fabrics and belts that are absolutely essential for production in the paper, nonwovens, and various other process industries. These critical components ensure the efficiency and quality of industrial manufacturing worldwide.
• Engineered Composites (EC): This rapidly growing segment is a premier supplier of highly engineered composite parts, primarily serving the demanding aerospace industry. EC contributes advanced material solutions that are vital for the performance and safety of modern aircraft.

Joining Albany International means becoming part of a company at the forefront of advanced materials, contributing to industries that shape global commerce and innovation.

Key Responsibilities:

As a Finance Intern, you will be integral to our team, supporting a broad spectrum of financial activities. Your responsibilities will include, but are not limited to:

• General Ledger (GL) & Financial Reporting Support: Assist with core GL accounting processes, including recording transactions, performing meticulous GL and balance sheet reconciliations, and supporting the crucial monthly, quarterly, and annual financial close cycles. You will also contribute to the preparation of accurate financial reports, ensuring data integrity for internal and external stakeholders.
• Cash Management & Operations: Support daily cash operations by performing bank reconciliations to ensure consistency between bank statements and company records. Assist with cash applications, accounts payable (AP) and accounts receivable (AR) processes, helping to maintain efficient cash flow and vendor/customer relationships.
• Tax Compliance Assistance: Contribute to critical tax functions, including supporting the preparation of the US Income Tax Provision and conducting tax rate analysis. You will also assist in the accurate preparation and timely filing of sales and use tax returns, ensuring compliance with tax regulations.
• Banking Relationship Management: Help maintain and nurture strong banking relationships by coordinating with financial institutions for account setups, executing fund transfers, and analyzing bank fees to optimize costs.
• Treasury Reporting & Forecasting: Assist in the preparation of vital weekly and monthly treasury reports. This includes developing cash positions, generating cash flow forecasts, and conducting liquidity analysis, providing crucial insights for strategic decision-making.
• Investment Monitoring: Provide essential assistance in monitoring the company’s short-term investments, tracking interest rates, and analyzing broader market conditions. Your support will be key in informing the company’s cash management and short-term funding strategies.
• Debt Management & Analysis: Help track and report on the company’s debt obligations, meticulously monitoring loan balances, interest payments, and ensuring compliance with debt covenants.
• Treasury Systems & Process Enhancement: Contribute to the efficiency of our treasury operations by assisting with data entry into treasury management systems. You will also have the opportunity to identify and suggest improvements to treasury workflows and processes, fostering operational excellence.
• Financial Risk Identification & Mitigation: Assist in identifying potential financial risks that a global company faces, such as foreign exchange (FX) risk, interest rate risk, and commodity price fluctuations. You will support the development and implementation of strategies to mitigate these risks.
• Compliance & Documentation: Ensure that all treasury operations strictly adhere to internal policies and external regulations. You will also play a role in maintaining accurate and comprehensive documentation of all treasury transactions and activities, crucial for audit trails and regulatory compliance.
• Audit Support: Provide support during annual and periodic audits by gathering necessary documentation, responding to auditor inquiries, and ensuring transparency in financial records.
• Vendor Master Data Validation: Play a critical role in ensuring the accuracy and security of vendor payment information by validating vendor master data, including checking payment methods, reviewing International Bank Account Numbers (IBANs), and routing details to prevent payment errors and potential fraud.
• Special Projects: Actively participate in various ad-hoc projects and provide flexible assistance to team members as assigned, offering opportunities to gain broader exposure across the finance department.

Shift Information:

This is a full-time internship position, operating during standard business hours:

• Shift: Day
• Shift Information: Monday – Friday, 40 Hours

Qualifications, Education, and Skills:

To be successful in this role, candidates should possess the following:

Education and Experience:

• Currently pursuing a Bachelor’s or Master’s degree in Finance, Accounting, or a closely related quantitative field, demonstrating a foundational understanding of financial principles.
• A minimum cumulative GPA of 3.0, reflecting strong academic performance and commitment to excellence.

Abilities and Skills:

• A strong, demonstrated interest in corporate finance, accounting principles, tax regulations, treasury management, and the broader financial markets.
• Proficiency in Microsoft Office Suite, with particularly strong skills in Excel. Advanced Excel capabilities (e.g., pivot tables, VLOOKUPs, financial modeling) are a significant advantage.
• Possess an analytical mindset with the proven ability to interpret complex financial data and assist in critical financial forecasting and budgeting activities.
• Demonstrate excellent attention to detail, exceptional organizational skills, and the capability to effectively manage multiple tasks and competing priorities in a dynamic, fast-paced corporate environment.
• Strong communication skills, both written and verbal, are essential for effective collaboration with internal teams and external financial partners.
• A proactive, self-starter attitude, eager to learn, take initiative, and make meaningful contributions to the treasury function and broader finance team.
• The ability to work effectively both independently and collaboratively as an integrated member of a team.
• Prior experience with SAP or similar Enterprise Resource Planning (ERP) systems is a plus, demonstrating familiarity with large-scale financial software environments.