POSITION SUMMARY:
The Director of Treasury is responsible for management of the City's cash and debt positions. Oversees the cash management strategy for the organization and manages liquidity and working capital. Analyzes opportunities for issuing new debt or restructuring existing debt and ensures compliance with all payment and disclosure requirements related to debt. Oversees the Accounts Payable and Payroll functions and ensures consistency and accuracy in the payment of employees and vendors. Oversees and coordinates the month-end close, monthly financial reports, and annual financial reports. Serves as a member of the Administration & Finance Leadership Team.
Salary: Up to $97,000
SUPERVISION EXERCISED:
Supervision of Accounts Payable, Payroll, and other staff, and any and all other matters of financial control as defined by the City Controller.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Cash Management
Process
o Compile and review bank reconciliations for each City bank account.
o Investigate and resolve variances between the General Ledger and the bank statements.
o Designs processes for revenue recognition and ensures compliance with established policies for recognizing revenue and cash receipt.
o Ensure that all appropriate cash management internal controls are in place, including designing and standardizing cash deposit processes.
o Serve as the single point of contact for all bank representatives.
o Record interest and investment income, and work with Investment advisors to manage investment portfolio.
Strategy
o Design and implement cash management strategy and philosophy, including bank utilization strategy, cash reserve requirements, interest allocation rules, and strategies to maximize interest and investment earnings.
Analysis
o Define metrics and design a tracking mechanism to allow the City to monitor cash on a real-time basis.
o Provide recommendations to City Controller on appropriate courses of action based on liquidity or working capital considerations.
Debt Management
Process
o Maintain debt master list and amortization schedules.
o Ensure that all debt payments are made accurately and timely
o Ensure principal and interest expense is accurately recorded and perform accrued interest calculations.
o Organize and digitize all debt-related documentation
o Ensure compliance with applicable continuing disclosure and arbitrage rebate requirements
o Lead the process to issue of new debt, including bonds and capital leases.
Strategy
o Design debt strategy and philosophy, including defining manageable debt levels, designing analytical processes that must be followed before issuing debt, deciding strategies for working with municipal advisors for issuance, continuing disclosure, arbitrage rebate, and more.
o Assist the Controller and Deputy Controller in evaluating and recommending project funding mechanisms.
Analysis
o Define metrics and design a tracking mechanism to allow the City to monitor debt position on a consistent basis.
Accounts Payable & Payroll
· Oversee Accounts Payable (AP) and Payroll functions, ensuring that employees, pensioners, and vendors are paid accurately and timely.
· Guide and participate in configuration and management of financial systems used by Accounts Payable and Payroll staff members.
· Ensure that all appropriate AP/Payroll Internal Controls are in place and that all AP and Payroll processes are effective, efficient, and well-documented.
· Define metrics and design a tracking mechanism for AP and payroll processes.
· Initiate and record wire transfers as needed.
Performs other duties and assume other responsibilities as delegated.
EDUCATION / QUALIFICATIONS:
· Position requires a Bachelor's Degree in business administration, accounting or finance from an accredited four year university educational program institution.
· Master's Degree in a related field or proven private or public sector experience is preferred.
· Demonstrated successful experience in a governmental entity or private sector enterprise is preferred.
· Certified Public Accountant or Certified Public Accountant candidate preferred.
KNOWLEDGE AND ABILITY:
· Thorough knowledge of accounting principles and practices, including knowledge of GASB standards and GFOA best practices.
· Ability to initiate sound fiscal operation.
· Ability to deal with vendors and ability to supervise other personnel.
· Ability to assist with the formulation of department goals and objectives, prepare policy recommendations, and assist with the setting of departmental priorities
· Ability to perform various quantitative analyses in the areas of policy analysis, program evaluation, financial analyses, financial forecasting, and cost analysis
· Ability to utilize intermediate computer spreadsheet capabilities and various other computer based instruments for analysis.
EQUIPMENT:
Desktop and laptop computer, telephone, ten key calculator, and other general office equipment (including but not limited to fax machine, printers, copy machine, scanners, etc.).
PHYSICAL DEMANDS:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is frequently required to sit and walk, and talk or hear. The employee is occasionally required to walk; use hands to fingers, handle or feel objects, tools or controls; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required in this job include vision and the ability to adjust focus.
WORK ENVIRONMENT:
Work is performed in office settings, with moderate inside temperatures. The noise level in the work environment is usually quiet to moderate in the office. Entire office is smoke free.
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