Step 1

Preheat oven, prepare and bake the cake in a 9 x 13 bake pan as package directs. Immediately poke holes into the cake using the handle of a wooden spoon pushed completely to the bottom of the bake pan. Pour the sweetened condensed milk over the top and into the holes. Let cake cool for 10-15 minutes.

Step 2

Meanwhile, in a large bowl, whip the cream cheese until smooth, then beat in the whipped topping and vanilla only briefly just until well mixed. Spread topping over the cake in an even layer. Cover with plastic wrap and refrigerate overnight.

Step 3

When ready to serve, drizzle with the caramel and sprinkle with pecans. Store cake in the refrigerator.