Manager of Treasury and Finance

TREASURY

The Manager of Treasury and Finance has broad responsibility for the management of the College’s cash and short-term investments, in order to provide funding for disbursements for operations and to invest excess cash prudently and in adherence to College policies. The Manager is responsible for making recommendations on how to manage these resources to maximize earnings and minimize exposure to financial loss.

The Manager has overall responsibility and accountability for cash and short-term investment management and the management of day-to-day cash flows. This responsibility includes processing all cash transactions (including wires, ACH, stop payments, etc.), daily cash reporting and funding/investment decisions, bank and investment fee analysis (including analytical review and feasibility studies of banking and investment services), and maintaining banking and short-term investment relationships. In addition, the Manager has overall accountability for monthly cash reporting to the Controller, replete with an analysis of where the cash is invested, the rate of return earned on the cash and as compared to benchmarks (i.e., 90-day Treasury), claims on cash, and the weighted average return on the portfolio.

The Manager has overall responsibility and accountability for analysis and ongoing evaluation of cash and investment systems.

In collaboration with College Advancement, Controller, Budget Director and the external Investment Office, the Manager has overall responsibility and accountability in projecting future cash shortages and surpluses, and monitoring the accuracy of prior cash flow projections.

The Manager is responsible for monitoring and managing foreign exchange risk with transactions arising from College’s study abroad programs.

FINANCE

In collaboration with the Executive VP for Administration & Treasurer, the Manager will oversee the debt issuance process and provide ongoing supervision of debt proceeds and interest rate swap agreements, including periodic marking-to-market of outstanding swaps or swaptions. In addition, the Manager will monitor debt and swap markets for refinancing and/or hedging opportunities and make recommendations regarding the College debt and derivatives portfolio. The Manager will maintain relationships with bond underwriters, rating agencies, bond trustees, financial advisors, swap counterparties and bondholders.

The Manager will explore alternatives to long-term financing, such as issuing commercial paper in the money market or pursuing leasing at tax-exempt rates rather than purchasing outright or borrowing in the money or capital markets.

The Manager will monitor and periodically provide updates on counterparty risks in any derivative transaction.

INVESTMENTS

The Manager will manage the relationship with the external Investment Office and staff the Investment Committee as needed.

The Manager has overall responsibility and accountability for overseeing the investment management of the College’s planned giving program, including determining investment allocation for new trusts and reviewing quarterly investment performance of the program. In addition, the Manager will monitor and recommend enhancements to the management of the College’s Funds Held in Trust by Others.

The Manager will serve as College liaison, when appropriate, with student groups, such as the Student Investment Committee, on investment–related projects.

In collaboration with external auditors and General Accounting, the Manager will coordinate the annual audit of College's investment portfolio.

As needed, the Manager will assist the external Investment Office in preparing annual investment surveys (NACUBO, Commonfund, etc.)

ACCOUNTING/OVERSIGHT/CONTROLS

The Manager will develop, document, implement, test and monitor investment controls, such as validating monthly valuations and testing the accuracy of performance reports prepared by the external Investment Office.

As part of the monthly closing and preparation of financial statements, the Manager will make several investment-related journal entries and prepare the investment lead sheet.

The Manager will document all position-related policies and procedures and update as needed.

The Manager has overall responsibility for processing valuations of donated securities, communication arrival of new stock gifts to relevant College staff, managing relationships with brokers, and making enhancements to the stock donation process.

The duties that are performed and the approximate percentage of time devoted to each annually.

20% Daily management of cash and short-term investments, includes processing all cash transactions (including wires, ACH, stop payments, etc.), daily cash reporting and funding/investment decisions.

20% Oversee investment portfolio transactions and monthly reporting activity of endowment portfolio, predominantly managed by external Investment Office. Record transactions in general ledger, particularly at month end. Provide investment oversight for planned giving assets and funds held in trust by others.

15% Prepare projections of future cash flow shortages and surpluses, and monitor the accuracy of prior cash flow projections. Prepare monthly cash reporting to the Controller – replete with an analysis of where cash is invested, the rate of return earned on the cash and as compared to benchmarks (i.e., 90-day treasury), claims on cash, and the weighted average return on the portfolio.

15% Provide ongoing oversight and management of the College’s debt and debt-related derivatives portfolio. Maintain relationships with underwriters rating agencies, financial advisors and other interested parties.

5% Perform analysis of bank and investment fees (including analytical review and feasibility studies of banking and investment services) to determine the accuracy of fees and to determine opportunities to reduce fees. Also, maintain banking and short-term investment relationships.

5% Perform analysis and ongoing evaluation of cash and investment systems. Also, monitor and manage foreign exchange risk with transactions arising from College’s study abroad programs.

5% Develop and maintain familiarity with new trends in treasury management and deferred giving, remain professionally active through frequent professional contacts including attendance at symposiums, association meetings, and subscribing to trade journals.

5% Prepare stock valuations and communicate gift information to College Advancement.

10% Assist the Executive VP for Administration and Treasurer and Controller in other duties as assigned.

C. RELATIONSHIPS:

The types of people that are contacted regularly as part of the job responsibilities.

TYPE OF CONTACT PURPOSE AND NATURE OF CONTACT

Bachelor's degree in business, finance, or other related field, plus professional certifications (CPA, CCM, CTP, etc.) or graduate degree in business or finance. A thorough working knowledge of treasury, cash management, investments, and deferred gift planning.

Five or more years management experience in a business environment with significant interpersonal contacts requiring independent professional judgment. Treasury, cash management, investments, and deferred gift experience is essential. Microcomputer operations including database, spreadsheet and word processing.

Strong verbal and written communications skills; ability to articulate strategies and implement policies; budget management; demonstrated ability to organize information, time and widely disparate priorities and complex issues so as to accomplish multiple, on-going and unrelated time-critical tasks.

EQUIPMENT/MACHINERY USED: All normal office equipment including microcomputers.